Press release
Sustainable Aviation Fuel Market Projected to Hit USD 106.52 Billion by 2034, Growing at a CAGR of 57.3%
The sustainable aviation fuel market report by Polaris Market Research offers an in-depth analysis of the rapidly evolving sector. It assesses all the key market aspects, including market share, size, top trends, and recent developments. In addition, an assessment of the top regions, major segments, and competitive landscape has been provided.
The market for sustainable aviation fuel is poised to exhibit a compound annual growth rate (CAGR) of 57.3% during 2025-2034. The market was valued at USD 1.16 billion in 2024 and is projected to grow to USD 106.52 billion by 2034.
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Market Introduction
Sustainable Aviation Fuel (SAF) is a cleaner alternative to conventional jet fuel. It is designed to reduce the aviation industry's carbon footprint without requiring major changes to existing aircraft engines or fueling infrastructure. SAF is produced from sustainable feedstocks such as used cooking oil, agricultural residues, municipal solid waste, algae, or even captured CO2 and renewable electricity. It offers significantly lower lifecycle greenhouse gas emissions as compared to fossil-based aviation fuel. SAF is chemically similar to traditional jet fuel and can be blended and used seamlessly in current aircraft. Along with carbon reductions, SAF contributes to improved air quality by lowering particulate matter and sulfur emissions.
Market Dynamics
Rising Air Passenger Traffic and Cargo Demand: There has been a significant increase in the global demand for air travel and air cargo is increasing. As the number of flights increases, so does the fuel consumption. This, in turn, leads to greater emissions unless cleaner alternatives are used. As a result, airlines and governments are increasingly turning towards sustainable solutions. SAF provides a way to accommodate this growth while lowering the environmental impact.
Government Support and Incentives: Several governments globally are encouraging the use of SAF by providing financial support, tax credits, and subsidies. These incentives help reduce the higher production costs of SAF and make it more competitive with traditional jet fuel. Thus, government support and incentives drive the sustainable aviation fuel market demand.
Market Key Players
The market for sustainable aviation fuel features a dynamic competitive landscape. The key players are making several strategic initiatives to garner a larger market share. A few of the major market participants are:
Aemetis Inc.
AVFUEL CORPORATION
Fulcrum BioEnergy
Gevo
LanzaTech
Neste
Preem AB
Sasol Limited
SkyNRG B.V.
TotalEnergies
World Energy, LLC
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Industry Developments
April 2025 - Bangchak inaugurated Thailand's first 100% Neat Sustainable Aviation Fuel (SAF) production facility at its Phra Khanong Refinery. This milestone underscores the company's commitment to renewable aviation fuel innovation and strengthens its position as a leader in clean energy solutions.
February 2024 - Airbus and TotalEnergies entered a strategic partnership to promote the development and adoption of sustainable aviation fuel. As part of the collaboration, TotalEnergies will supply SAF and work jointly with Airbus to develop fully sustainable fuel alternatives aimed at significantly lowering aviation-related CO2 emissions.
Segmental Analysis
By Fuel Type Outlook (Volume, Million Liters, Revenue, USD Billion, 2020-2034)
Biofuel
Hydrogen Fuel
Power to Liquid Fuel
Gas-to-Liquid
By Technology Outlook (Volume, Million Liters, Revenue, USD Billion, 2020-2034)
HEFA-SPK
FT-SPK
HFS-SIP
ATJ-SPK
By Aircraft Type Outlook (Volume, Million Liters, Revenue, USD Billion, 2020-2034)
Fixed Wings
Rotorcraft
Others
By Platform Outlook (Volume, Million Liters, Revenue, USD Billion, 2020-2034)
Commercial
Regional Transport Aircraft
Military Aviation
Business & General Aviation
Unmanned Aerial Vehicles
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Regional Overview
North America: North America led the global sustainable aviation fuel market in 2024. This regional market dominance is primarily driven by major airline investments, strong government policies, and advanced fuel production technology. The growing emphasis on clean aviation further contributes to the region's leading market share.
Asia Pacific: Asia Pacific is projected to register significant growth from 2025 to 2034. This is due to rapid expansion in air travel and economic growth in countries like Australia and China. The rising adoption of environmental policies promoting cleaner fuels and reducing aviation emissions further contributes to the robust market growth in the region.
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