The sustainable aviation fuel market is projected to grow from estimated USD 66 million in 2020 to USD 15,307 million by 2030, at a CAGR of 72.4%

New York, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sustainable Aviation Fuel Market by Fuel Type, Biofuel Manufacturing Technology, Biofuel Blending Capacity, Platform, Region - Forecast to 2030" - https://www.reportlinker.com/p05977658/?utm_source=GNW


The sudden outbreak of COVID-19 has adversely impacted the aviation sector in 2020. The immediate lockdown in various nations across the globe, bans on domestic and international flights during the lockdown, air travel restrictions on non-essential travel, temporary halts in production and manufacturing activities, and limited workforce as per new government norms to prevent the spread of the disease have led to delays in the deliveries of aircraft in the first and second quarter of 2020 as well as delays in the research and development activities.

Broader use of sustainable aviation fuels is one important component of the industry’s strategy to lower its climate impact.However, significant expansion in the use of sustainable aviation fuels, efficiency upgrades to the fleet is expected to delay with uncertainty.

Much of the industry will likely defer acquiring new aircraft containing technology improvements until demand is stronger, solvency of the carriers is assured, and the price of jet fuel exerts pressure to add fuel-saving evolutionary technologies to the fleet. Unfortunately, initiatives to develop and begin using biojet fuels, green fuels, e-fuels, synthetic fuels, etc. with life cycle CO2 emissions that can be up to 80% less carbon intensive than fossil-based jet fuel will likely be delayed. Before the coronavirus pandemic, a major barrier to the rapid establishment of a SAF industry was the significantly higher costs of SAF compared to conventional jet fuel. According to Environmental and Energy Study Institute (EESI), with oil prices recently falling below zero and still very low, and jet fuel demand in the first quarter 47% below last year’s first quarter, jet fuel prices fell more than 65% by the 20th April, 2020. The investments required to transition aviation to a bio-fueled industry are unlikely to materialize until commercial aviation recovers and conventional jet fuel prices increase.

Based on fuel type, the biofuel segment is estimated to lead the sustainable aviation fuel market during the forecast period
Based on fuel type, the biofuel segment of the sustainable aviation fuel market is accounted for the largest share during the forecast period.The greatest potential of biofuel lies in its ability to significantly reduce GHG emissions in the aviation sector and positively impact climate change.

The strong and ongoing commitment of the aviation sector and the active involvement of an increasing numbers of stakeholders such as airlines and many aviation organizations to develop biofuel through voluntary initiatives has been a major driving force behind biofuel development and consumption. The production of biofuel is expected to scale up rapidly in the coming decade due to rapid developments in technological pathways to commercialize the use of alternative jet fuel.

Based on biofuel manufacturing technology, the hydro processed fatty acid esters and fatty acids - synthetic paraffinic kerosene (HEFA-SPK) segment is estimated to lead the sustainable aviation fuel market in 2020

Based on biofuel manufacturing technology, the hydro processed fatty acid esters and fatty acids - synthetic paraffinic kerosene (HEFA-SPK) segment of the sustainable aviation fuel market is expected to grow at the highest CAGR during the forecast period.The development and deployment of bio-jet fuels, primarily HEFA bio-jet, has progressed from single demonstration flights by airlines or equipment manufacturers to multi-stakeholder supply-chain initiatives including equipment manufacturers, airlines, fuel producers and airports.

This growth can be attributed to the technologically being most commercially available for the production of sustainable aviation fuel.

Based on biofuel blending capacity, the 30% to 50% segment is expected to grow at the highest CAGR during the forecast period
Based on biofuel blending capacity, the 30% to 50% segment of the sustainable aviation fuel market is expected to grow at the highest CAGR during the forecast period. The moderate blend capacity, drop-in facility in existing fuel systems, supply logistics infrastructure, and aircraft fleet allow to minimize the overall cost and cater to the volume demands from commercial and military aviation.

Based on platform, the commercial aviation segment is estimated to lead the sustainable aviation fuel market during the forecast period
Based on platform, the commercial aviation segment of the sustainable aviation fuel market is accounted for the largest share during the forecast period.The growth of this segment can be attributed to the increase in the aircraft fleet of emerging economies in the commercial aviation sectors.

The initiatives taken by the various commercial airlines, commercial airports, and aircraft manufacturers across the globe in adoption of renewable jet fuel is driving the growth of this segment in sustainable aviation fuel market.

Europe is estimated to lead the sustainable aviation fuel market in 2020, and North America is projected to grow at the highest CAGR during the forecast period
Europe is estimated to lead the sustainable aviation fuel market in 2020.The region is a key player in the biofuel production technology sector with several commercial-size plants in operation.

In addition, government initiatives and industry collaborations with universities and research laboratories aim to have a positive impact on the sustainable aviation fuels market in Europe.North America is projected to grow at the highest CAGR during the forecast period.

To cater to the need for of reduction in carbon footprints due to increasing air traffic and air passengers, the countries such as the US and Canada in North America are focused on various initiatives to utilize the sustainable aviation fuel. With supportive policies and initiatives to decarbonize aviation emissions, the North American market is deemed to be one of the strong demand centers for sustainable aviation fuel.

Break-up of profile of primary participants in the sustainable aviation fuel market:
• By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
• By Designation: C Level – 50%, Director Level – 25%, and Others – 25%
• By Region: North America – 60%, Europe – 20%, Asia Pacific – 10%, South America– 5%, and RoW – 5%

Major players operating in the renewable jet fuel market include Neste (Finland), Gevo (US), World Energy (US), Eni (Italy), SkyNRG (Netherlands), Fulcrum BioEnergy (US), Velocys (UK), and Aemetis, Inc. (US), among others. Some of the startup companies in the sustainable aviation fuel market include Red Rock Biofuels (US), SG Preston Company (US), Petrixo Oil & Gas (UAE), Sundrop Fuels, Inc. (US), Hypoint, Inc. (US), and ZeroAvia, Inc. (US). These startups are collaborating with various stakeholders of the aviation fuel industry to contribute towards the ambitious goals of GHG emission reductions from the aviation and other industrial sectors.

Research Coverage:
This research report categorizes the sustainable aviation fuel market on the basis of fuel type (biofuel, hydrogen fuel, and power-to-liquid), biofuel manufacturing technology (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), and Catalytic Hydrothermolysis Jet (CHJ)), biofuel blending capacity (below 30%, 30% to 50%, and above 50%.), and platform (commercial aviation, military aviation, business & general aviation, and unmanned aerial vehicle). These segments have been mapped across major regions, namely, North America, Europe, Asia Pacific, Middle East, Latin America, and Africa. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the sustainable aviation fuel market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, and collaborations; and recent developments associated with the sustainable aviation fuel market. In addition, the startups in sustainable aviation fuel market ecosystem is covered in this report to provide usable insights and developments happening in the emerging market of sustainable aviation fuel.

Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall sustainable aviation fuel market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on sustainable aviation fuel offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches, contracts, agreements, and expansion plans in the sustainable aviation fuel market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the sustainable aviation fuel market across varied regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the sustainable aviation fuel market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the sustainable aviation fuel market

Read the full report: https://www.reportlinker.com/p05977658/?utm_source=GNW

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