Global Sustainable Aviation Fuel Market Analysis & Trends - Industry Forecast to 2030
Sustainable Aviation Fuel: Market Size
From $2,128.7 million in 2024, the global Sustainable Aviation Fuel market is projected to reach $31,636.5 million by 2030. Based on our analysis the market is expected to grow at a CAGR of 56.8% from 2024 - 2030 timeframe. Some of the prominent trends that the market is witnessing include increasing use of transport aircraft in military operations, government initiatives such as tax reduction on aviation fuel, and growing procurement of fighter jets.
Global Sustainable Aviation Fuel Market: Market Dynamics
Sustainable aviation fuels are a key component in meeting the aviation industry’s commitments to decouple increases in carbon emissions from traffic growth. Factors such as rise in number of airline passengers, growing disposable income, increase in air transportation, and increase in consumption of synthetic lubricants supplement growth of the global sustainable aviation fuel market.
On the other hand, the inadequate availability of feedstock is likely to obstruct the profit boundaries. In addition, drop-in capability of sustainable aviation fuels will further boost for the Sustainable Aviation Fuel market.
Impact of COVID-19 on Sustainable Aviation Fuel
Like many other sectors, the sustainable aviation fuel market is also disproportionately impacted by the COVID-19 pandemic due to delays in the production activities across various industries. However, much of the industry will likely defer in acquiring new aircraft containing technology improvements until demand is stronger, the solvency of the carriers is assured, and the price of jet fuel exerts pressure to add fuel-saving evolutionary technologies to the fleet.
By Fuel Type
Biofuel Segment Dominate the Market in 2024
The biofuel segment made huge revenue in 2024 and growing its prominence during the forecast period. The production of biojet fuel 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.
By Geography
North America Region is Leading in the Global Market Place
North America region is likely to have a huge demand in the forecast period owing to the supportive policies and initiatives to decarbonize aviation emission. 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 renewable aviation fuel.
List of the Key Players Profiled in the Market Include:
• Fulcrum Bioenergy • Northwest Advanced Biofuels • Neste • Totalenergies • World Energy • Red Rock Biofuels • SG Preston • Lanzatech • Velocys • Gevo • Prometheus Fuels • Alder Fuels • Skynrg • Wastefuel • Aemetis
List of the Regions/Countries Profiled in the Market Include:
North America • US • Canada • Mexico Europe • Germany • U.K • Italy • France • Spain • Rest of Europe Asia Pacific • China • Japan • India • Australia • New Zealand • Rest of Asia Pacific Middle East • Saudi Arabia • UAE • Rest of Middle East Latin America • Argentina • Brazil • Rest of Latin America Rest of the World (RoW) • South Africa • Others
1 Market Outline
1.1 Definition
1.2 Market Segmentation & Scope
1.3 Market Trends
1.4 Regulatory Factors
1.5 Strategic Benchmarking
1.6 Opportunity Analysis
2 Executive Summary
3 Research Methodology and Data Source
3.1 Methodology/Research Approach
3.1.1 Research Programs/Design
3.1.2 Market Size Estimation
3.2 Data Source and Assumptions
3.2.1 Purchased Database
3.2.2 Company Repository
3.2.3 Secondary Sources
3.2.4 Primary Research
3.2.5 List of Assumptions
4 Market Overview
4.1 Current Trends
4.1.1 Increasing use of Transport Aircraft in Military Operations
4.1.2 Government Initiatives Such as Tax Reduction on Aviation Fuel