Press release
Sustainable Aviation Fuel (SAF) Market Size to Reach USD 51,369.0 Million in 2032
Sustainable Aviation Fuel (SAF) Market_Infographics
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May 13, 2026 - The growing volume of global air travel and the increasing push for decarbonization in aviation are major factors driving revenue growth in the Sustainable Aviation Fuel (SAF) market. Airports Council International (ACI) World forecasts that global passenger traffic will surpass pre-pandemic levels by 2024, reaching 9.5 billion, and is projected to exceed 12 billion by 2030, driven largely by expanding markets in Asia-Pacific and the Middle East. Additionally, data from the European Union shows that 973 million people traveled by air within the EU in 2023. Spain recorded the highest number of passengers at 110.9 million, while Malta experienced the largest year-over-year growth, rising 31.8% to 5.7 million.
On June 2025, Axens, in partnership with IFP Energies nouvelles (IFPEN) and SMS group, has successfully certified the Carboverseo technology. This cutting-edge reverse water-gas shift process, which transforms CO2 into CO, is now operational and poised to reshape the e-fuel sector by offering a reliable and scalable method for converting CO2 into valuable outputs. The development of Carboverseo was accelerated through a fast-track approach, capitalizing on the combined expertise of all partners. Axens played a key role by contributing its process design and integration know-how, built on its extensive background in the oil and gas industry.
One of the primary obstacles to the adoption of sustainable aviation fuels is their high cost. At present, biofuel-based SAF is priced at two to three times the cost of conventional jet fuel, while eSAF can be six to eight times more expensive. The aviation sector faces intense competition, operates on narrow profit margins, and bears high liability due to strict safety regulations-factors that make integrating these costly alternatives particularly challenging.
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Segments market overview and growth Insights
Based on the fuel type, the Sustainable Aviation Fuel (SAF) market is segmented into Hydrogen Fuel, Power to Liquid Fuel, Biofuel, and Gas-to-Liquid. The Biofuel segment held the highest growth rate in 2024. Among the various types of sustainable aviation fuels (SAFs), hydro processed esters and fatty acids (HEFAs) are the most widely used in the aviation sector. Recent technological advancements in HEFA production have focused on maximizing output and improving cold flow properties, which are essential for effective performance in aviation.
Regional market overview and growth insights
North America held the largest market share in the Sustainable Aviation Fuel (SAF) market in 2024, fueled primarily by increasing global air travel, the rising demand for low-carbon aviation, and supportive government policies and incentives, the push for sustainable aviation fuel (SAF) is gaining momentum. As the aviation industry intensifies its efforts to cut carbon emissions, SAF has become a crucial alternative fuel source. In May 2025, LanzaJet and BioD announced the launch of a feasibility study to develop Colombia's first Sustainable Aviation Fuel (SAF) production facility, representing a significant milestone for SAF production in Latin America.
Competitive Landscape and Key Competitors
The Sustainable Aviation Fuel (SAF) market is characterized by a fragmented structure, with many competitors holding a significant share of the market. List of major players included in the Sustainable Aviation Fuel (SAF) market report are:
o SkyNRG B.V.
o Neste Oyj
o Honeywell International Inc.
o AIR COMPANY HOLDINGS INC
o TotalEnergies
o Preem AB
o Sasol Limited
o LanzaJet, Inc.
o Avaada Energy Pvt. Ltd.
o Haltermann Carless Group GmbH
o Avfuel Corporation
o Twelve Benefit Corporation
o Alder Fuels
o Red Rock Biofuels
o Prometheus Fuels
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Major strategic developments by leading competitors
LanzaJet: In May 2025, LanzaJet and BioD announced the initiation of a feasibility study for the development of Colombia's first Sustainable Aviation Fuel (SAF) production facility, marking a key milestone as one of the region's earliest SAF projects. Following over three years of extensive evaluation of more than 20 different technologies, BioD has chosen LanzaJet's Alcohol-to-Jet (ATJ) technology-recognized globally for its scalable ethanol-to-SAF conversion capabilities.
International Airlines Group: In April 2025, International Airlines Group and Microsoft are intensifying their commitment to lowering lifecycle carbon emissions in the aviation sector by extending their 2023 co-funded sustainable aviation fuel (SAF) purchase agreement for another five years. As part of the renewed agreement, Microsoft will co-fund an additional 39,000 metric tons of SAF, which is expected to cut lifecycle carbon emissions by around 113,000 metric tons.
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Navistrat Analytics has segmented Sustainable Aviation Fuel (SAF) market based on fuel type, technology, aircraft type, and end-use:
The Sustainable Aviation Fuel (SAF) market report offers a detailed analysis of market size, including historical revenue (in USD Million) data for 2022-2023 and revenue forecasts for 2025-2032 across the following segments:
• Fuel Type Outlook (Revenue, USD Million; 2022-2032)
o Hydrogen Fuel
o Power to Liquid Fuel
o Biofuel
o Gas-to-Liquid
• Technology Outlook (Revenue, USD Million; 2022-2032)
o HEFA-SPK
o FT-SPK
o ATJ-SPK
o CHJ
o HFS-SIP
• Aircraft Type Outlook (Revenue, USD Million; 2022-2032)
o Commercial Aircraft
o Military Aircraft
o Cargo Aircraft
o Business Jets
o Unmanned Aerial Vehicles (UAVs)
• End-Use Outlook (Revenue, USD Million; 2022-2032)
o Utility Companies
o Government Agencies
o Research Institutions & Universities
o Industrial Plants
• Regional Outlook (Revenue, USD Million; 2022-2032)
o North America
a. U.S.
b. Canada
c. Mexico
o Europe
a. Germany
b. France
c. U.K.
d. Italy
e. Spain
f. Benelux
g. Nordic Countries
h. Rest of Europe
o Asia Pacific
a. China
b. India
c. Japan
d. South Korea
e. Oceania
f. ASEAN Countries
g. Rest of APAC
o Latin America
a. Brazil
b. Rest of LATAM
o Middle East & Africa
a. GCC Countries
b. South Africa
c. Israel
d. Turkey
e. Rest of MEA
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