Press release
Algae-Based Sustainable Aviation Fuel (SAF) Market to Reach USD 844.98 Million by 2034, Growing at a CAGR of 27.7%
Algae-Based Sustainable Aviation Fuel (SAF) Market
The report analyzes the market for algae-based sustainable aviation fuel to register a CAGR of 27.7% from 2025-2034. The market was valued at USD 73.46 million in 2024 and is projected to grow to USD 844.98 million by 2034.
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Market Introduction:
Algae-based sustainable aviation fuel (SAF) is a next-generation biofuel derived from microalgae and macroalgae. Algae are highly efficient biological organisms that can produce large quantities of lipids (oils). These lipids are extracted and converted into aviation-grade fuel through processes like hydroprocessing or transesterification. Unlike traditional biofuel feedstocks such as corn or palm oil, algae can grow rapidly in non-arable land using saltwater or wastewater. This helps avoid competition with food crops and minimizes land use impacts. Algae-based SAF has the potential to cut greenhouse gas emissions by up to 80% over the fuel's lifecycle as compared to conventional jet fuel.
Market Dynamics:
Advancements in Algae Cultivation and Biofuel Production Technologies: Advancements in algae cultivation and biofuel production technologies are fueling the algae-based SAF market. Open pond systems, closed-loop photobioreactors, and wastewater-based algae growth are enhancing biomass productivity while optimizing land use. Breakthroughs in downstream processing, such as catalytic conversion and hydrothermal liquefaction, are enhancing fuel yields and reducing production costs.
Rising Pressure to Decarbonize Aviation Sector: The growing pressure to decarbonize the aviation sector is another major factor fueling market expansion. Stakeholders across the market are actively seeking renewable fuel alternatives that align with long-term climate targets. Algae-based SAF offers a solution owing to its potential for high carbon capture during cultivation.
Market Key Players:
The top market participants are leveraging strategic developments to gain a larger share of the market. A few of the key market participants include:
• Algae Systems LLC
• Algae.Tec Ltd.
• Algenol Biotech LL
• Cellana Inc
• ExxonMobil Corporation
• Neste Oyj
• Pond Technologies Holdings Inc.
• Sapphire Energy Inc.
• Solazyme Inc.
• Synthetic Genomics Inc
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Algae-Based Sustainable Aviation Fuel (SAF) Market Industry Developments
• February 2025: Boeing and HPCL announced a partnership to advance India's Sustainable Aviation Fuel (SAF) ecosystem, aligning with shared sustainability objectives. The collaboration will focus on scaling up SAF production, certifying locally produced SAF, developing supportive policies, establishing supply chain standards, and facilitating knowledge sharing through training programs.
• May 2025: United Airlines invested in Twelve, a company specializing in SAF production through carbon dioxide (CO2) conversion technology. This investment follows Twelve's successful USD 83 million funding round and the launch of its Moses Lake facility, which is expected to produce 50,000 gallons of SAF annually starting in 2025.
Market Segmentation:
By Production Technology Outlook (Revenue, USD Million, 2020-2034)
• Hydro Processed Esters and Fatty Acids (HEFA)
• Fischer-Tropsch Synthesis
• Alcohol-to-Jet (ATJ)
• Direct Sugars to Hydrocarbons (DSHC)
By Blend Level Outlook (Revenue, USD Million, 2020-2034)
• 10-50% Blend
• 50-100%
By Feedstock Type Outlook (Revenue, USD Million, 2020-2034)
• Microalgae
• Macro Algae (Seaweed)
By Distribution Channel Outlook (Revenue, USD Million, 2020-2034)
• Direct Supply Agreements
• Traders & Aggregators
By Application Outlook (Revenue, USD Million, 2020-2034)
• Commercial Aviation
• Military Aviation
• Cargo & Freight Airlines
• Private/Business Jets
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Regional Analysis
The report offers market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America led the global market in 2024, driven by strong policy support and investments in algae biofuel R&D. The presence of major aviation and biofuel companies in North America further contributes to the regional market dominance.
Asia Pacific is anticipated to witness substantial growth during the forecast period, owing to rising energy demand and growing aviation activity. Government support for alternative fuels further contributes to the robust market growth in the region.
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