Pune, India, Oct. 28, 2021 (GLOBE NEWSWIRE) -- According to credible sources, global sustainable aviation fuel market size was remunerated at USD 66 million in 2020 and is estimated to record a strong CAGR of 72.4% over 2021-2027, eventually reaching a valuation of USD 2987.5 million by the end of study period.
Proceeding further, the research literature studies the market from the perspective of fuel type, biofuel blending capacity, biofuel manufacturing technology, platform, and geographies to highlight the key areas for investment during the forecast period. Moreover, it explicates the competitive landscape on the basis of the strategies, financials, and recent developments of the leading players in this business sphere.
With increasing environmental awareness, the aviation sector is looking to reduce carbon footprints and lower GHG emissions, hence adopting alternative solutions like renewable jet fuels, hybrid-electric and all-electric aircraft, enhancing aero-engine efficiency through design adjustments, and many more.
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However, when compared to other solutions, adoption of sustainable aviation fuels like synthetic fuels, e-fuels, bio jet fuels, green jet fuels, and hydrogen fuels is one of the most practical alternative solutions when it comes to socio-economic benefits and contributes notably to mitigating current and future aviation environmental impacts.
Moreover, airlines across the aviation sector are extending their commercial fleets due to increase in air travel. These factors are majorly driving global sustainable aviation fuel market growth.
For instance, Gevo, Inc. and Trafigura Trading LLC, entered into a binding renewable hydrocarbon purchase and sale agreement in August 2020. Trafigura will be capable of providing SAF to both domestic as well as foreign clients, having rising demand for low-carbon jet fuel.
Geographical outlook
Analysts cite that North America is likely to serve as a lucrative growth avenue for the worldwide sustainable aviation fuel industry participants throughout the study period, as countries such as the U.S. and Canada, are focusing on various programs to use renewable aviation fuel to assist in reducing carbon footprints due to increased air traffic and flying passengers.
Commercial Aviation Alternative Fuel Initiative (CAAFI), Canada's Biojet Supply Chain Initiative, and Midwest Aviation Sustainable Biofuels Initiative (MASBI) are some of the sustainable aviation fuel efforts that are undertaken by countries including the U.S. and Canada.
Moreover, North American market is one of the robust demand areas for sustainable aviation fuel owing to supportive regulations and measures to reduce aviation emissions.
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Global Sustainable Aviation Fuel Market, by Fuel Type (Revenue, USD Million, 2018-2027)
- Biofuel
- Hydrogen Fuel
- Power to Liquid Fuel
Global Sustainable Aviation Fuel Market, by Biofuel Manufacturing Technology (Revenue, USD Million, 2018-2027)
- Hydroprocessed Fatty Acid Esters and Fatty Acids - Synthetic Paraffinic Kerosene (HEFA-SPK)
- Fischer Tropsch Synthetic Paraffinic Kerosene (FT-SPK)
- Synthetic Iso-paraffin from Fermented Hydroprocessed Sugar (HFS-SIP)
- Fischer Tropsch (FT) Synthetic Paraffinic Kerosene with Aromatics (FT-SPK/A)
- Alcohol to Jet SPK (ATJ-SPK)
- Catalytic Hydrothermolysis Jet (CHJ)
Global Sustainable Aviation Fuel Market, by Biofuel Blending Capacity (Revenue, USD Million, 2018-2027)
- Below 30%
- 30% to 50%
- Above 50%
Global Sustainable Aviation Fuel Market, by Platform (Revenue, USD Million, 2018-2027)
- Commercial Aviation
- Military Aviation
- Business & General Aviation
- Unmanned Aerial Vehicle
Global Sustainable Aviation Fuel Market, Regional Terrain (Revenue, USD Million, 2018-2027)
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Mexico
- Brazil
North America
- U.S.
- Canada
Europe
- U.K.
- France
- Germany
- Italy
- Spain
- Rest of Europe
Rest of the World
Global Sustainable Aviation Fuel Market, Competitive Dashboard (Revenue, USD Million, 2018-2027)
- S.G. Preston Company
- Red Rock Biofuels LLC
- Aemetis Inc.
- Velocys plc
- Fulcrum BioEnergy Inc.
- SkyNRG BV
- World Energy LLC
- Eni S.p.A.
- Gevo Inc.
- Neste Oyj
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Million)
1.2.1. Sustainable Aviation Fuel Market, by Region, 2019-2027 (USD Million)
1.2.2. Sustainable Aviation Fuel Market, by Fuel Type, 2019-2027 (USD Million)
1.2.3. Sustainable Aviation Fuel Market, by Biofuel Manufacturing Technology, 2019-2027 (USD Million)
1.2.4. Sustainable Aviation Fuel Market, by Biofuel Blending Capacity, 2019-2027 (USD Million)
1.2.5. Sustainable Aviation Fuel Market, by Platform, 2019-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Sustainable Aviation Fuel Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Sustainable Aviation Fuel Market Dynamics
3.1. Sustainable Aviation Fuel Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Rising need for reduction in GHG emissions in aviation industry
3.1.1.2. Growing air passenger traffic
3.1.1.3. High fuel efficiency of SAF
3.1.2. Market Challenges
3.1.2.1. Price difference between SAF and conventional jet fuel
3.1.3. Market Opportunities
3.1.3.1. Increasing demand for SAF by airlines over the world
3.1.3.2. Sustainable marine fuel
3.1.3.3. Government initiatives
Chapter 4. Global Sustainable Aviation Fuel Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Sustainable Aviation Fuel Market, by Fuel Type
5.1. Market Snapshot
5.2. Global Sustainable Aviation Fuel Market by Fuel Type, Performance - Potential Analysis
5.3. Global Sustainable Aviation Fuel Market Estimates & Forecasts by Fuel Type 2018-2027 (USD Million)
5.4. Sustainable Aviation Fuel Market, Sub Segment Analysis
5.4.1. Biofuel
5.4.2. Hydrogen Fuel
5.4.3. Power to Liquid Fuel
Chapter 6.vGlobal Sustainable Aviation Fuel Market, by Biofuel Manufacturing Technology,
6.1. Market Snapshot
6.2. Global Sustainable Aviation Fuel Market by Biofuel Manufacturing Technology, Performance-Potential Analysis
6.3. Global Sustainable Aviation Fuel Market Estimates & Forecasts by Biofuel Manufacturing Technology, 2018-2027 (USD Million)
6.4. Sustainable Aviation Fuel Market, Sub Segment Analysis
6.4.1. Hydroprocessed Fatty Acid Esters and Fatty Acids - Synthetic Paraffinic Kerosene (HEFA-SPK)
6.4.2. Fischer Tropsch Synthetic Paraffinic Kerosene (FT-SPK)
6.4.3. Synthetic Iso-paraffin from Fermented Hydroprocessed Sugar (HFS-SIP)
6.4.4. Fischer Tropsch (FT) Synthetic Paraffinic Kerosene with Aromatics (FT-SPK/A)
6.4.5. Alcohol to Jet SPK (ATJ-SPK)
6.4.6. Catalytic Hydrothermolysis Jet (CHJ)
Chapter 7. Global Sustainable Aviation Fuel Market, by Biofuel Blending Capacity,
7.1. Market Snapshot
7.2. Global Sustainable Aviation Fuel Market by Biofuel Blending Capacity, Performance-Potential Analysis
7.3. Global Sustainable Aviation Fuel Market Estimates & Forecasts by Biofuel Blending Capacity, 2018-2027 (USD Million)
7.4. Sustainable Aviation Fuel Market, Sub Segment Analysis
7.4.1. Below 30%
7.4.2. 30% to 50%
7.4.3. Above 50%
Chapter 8. Global Sustainable Aviation Fuel Market, by Platform,
8.1. Market Snapshot
8.2. Global Sustainable Aviation Fuel Market by Platform, Performance-Potential Analysis
8.3. Global Sustainable Aviation Fuel Market Estimates & Forecasts by Platform, 2018-2027 (USD Million)
8.4. Sustainable Aviation Fuel Market, Sub Segment Analysis
8.4.1. Commercial Aviation
8.4.2. Military Aviation
8.4.3. Business & General Aviation
8.4.4. Unmanned Aerial Vehicle
Chapter 9. Global Sustainable Aviation Fuel Market, Regional Analysis
Related Report:
Aviation Fuel Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026
Global Aviation Fuel Market is expected to exceed USD 325 billion by 2026. The rising construction and expansion of airports coupled with rising production and delivery of aircrafts are driving the market share. Latin America and Middle East & Africa will witness healthy growth in the aviation fuel market share owing to increasing tourism. Recovering economy in Latin America with cross border merger of the airliners will further fuel the industry demand. Steady growth in air traffic will positively influence the product penetration. Increasing demand of business jets in the MEA is the prime factor driving the regional growth. Few of the major players operating in the aviation fuel market include Shell, BP, Chevron, Gazprom, Reliance Petroleum, and IOCL among others. Industry players are entering into strategic agreements and partnerships for expanding their business share. For instance, in November 2019, BP signed a strategic technical services agreement with Sonangol for expanding its business in Angola.
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