18-Aug-2022 | Facts and Factors
According to Facts and Factors, the global sustainable aviation fuel market size was worth USD 72.40 million in 2021 and is estimated to grow to USD 1,498.55 million by 2028, with a compound annual growth rate (CAGR) of approximately 65.70% over the forecast period. The report analyzes the sustainable aviation fuel market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the sustainable aviation fuel market.
Sustainable aviation fuel is a biofuel used to power aircraft with similar properties to conventional jet fuel but with similar carbon footprints. Depending on the feedstock and technologies used to produce it, sustainable aviation fuel can dramatically reduce life cycle greenhouse gas compared to conventional jet fuels. Sustainable aviation fuel provides a cleaner alternative to fossil fuel and achieves up to an 80 percent reduction in greenhouse gas emissions over the fuel lifecycle compared to conventional fossil jet fuels, without significant changes to fuel supply systems or engines. It is also environment-friendly fuel that reduces carbon emissions; waste streams to produce sustainable aviation fuel has been beneficial for the environment.
Browse the full “Sustainable Aviation Fuel Market Size, Share, Growth Analysis Report By Technology (Synthetic Paraffinic Kerosene (Hefa- Spk), Fischer Tropsch Synthetic Paraffinic Kerosene (Ft-Spk), Synthetic Iso-Paraffin From Fermented Hydro Processed Sugar (Hfs-Sip), Alcohol To Jet Spk (Atj-Spk), And Catalytic Hydrothermolysis Jet (CHJ)), By Type (Biofuel, Hydrogen Fuel, and Power To Liquid Fuel), By Blending Capacity (Below 30%, 30% to 50%, and Above 50%), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/sustainable-aviation-fuel-market
Sustainable aviation fuel is currently more costly than traditional fossil jet fuel. Sustainable aviation fuel is a suitable option for aircraft operators to meet their obligation under carbon offsetting. Thus, these factors are expected to drive the sustainable aviation fuel market during the forecast period. Therefore, demand for sustainable aviation fuel can come to a standstill during the forecast period due to the inadequate supply of raw materials required for its production.
The global sustainable aviation fuel market is based on technology, type, and blending capacity. Based on technology, the sustainable aviation fuel market is categorized into synthetic paraffinic kerosene (HEFA- SPK), fischer tropsch synthetic paraffinic kerosene (FT-SPK), synthetic iso-paraffin from fermented hydro processed sugar (HFS-SIP), alcohol to jet spk (ATJ-SPK), and catalytic hydrothermolysis jet (CHJ). Among these, the Synthetic Paraffinic Kerosene (HEFA- SPK) segment dominate the market in 2021. Due to the benefits of synthetic paraffinic kerosene such as reducing carbon emissions, and others which supported the growth of this segment in 2021. Based on type, the market is segmented into biofuel, hydrogen fuel, and power to liquid fuel. Besides that, the biofuel segment dominated the market during the forecast period due to the rising demand from aircraft operators to follow the international government regulation. Based on blending capacity, the market is bifurcated into below 30%, 30% to 50%, and above 50%. Among these, the 30% to 50% blending capacity segment dominated the market in 2021 and is expected to continue its dominance during the forecast period. The cost-effectiveness and improved supply chain efficiency supported the segment growth in past years.
North America is expected to grow at the highest CAGR during the forecast period. To meet the need to reduce carbon emissions due to the increase in air traffic and air passengers, countries such as the United States and Canada in North America are focusing on various initiatives to use fuel. renewable aviation materials. With supportive policies and initiatives aimed at decarbonizing aviation emissions, the North American market is seen as one of the centers of high demand for sustainable aviation fuels. The number of sustainable aviation fuel initiatives undertaken by countries in the region such as the United States and Canada are the Commercial Aviation Alternatives Fuels Initiative (CAAFI), Biofuels Midwest Sustainable Aviation (MASBI) and Canada's Airplane Supply Chain Initiative, among others.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 72.40 Million |
Projected Market Size in 2028 |
USD 1,498.55 Million |
CAGR Growth Rate |
65.70% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Alphabet Inc. (Google Inc.), Arctic wolf network, Intel Corporation, GE Healthcare, General Vision, Microsoft Corporation, unchained carrot, Next IT Corp., blue kite web solution., and Others |
Key Segment |
By Technology, Type, Blending Capacity, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Some of the main competitors dominating the global sustainable aviation fuel market include- Alphabet Inc. (Google Inc.), Arctic wolf network, Intel Corporation, GE Healthcare, General Vision, Microsoft Corporation, unchained carrot, Next IT Corp., and blue kite web solution.
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The global sustainable aviation fuel market is segmented as follows:
By Technology
- Synthetic Paraffinic Kerosene (HEFA- SPK)
- Fischer Tropsch Synthetic Paraffinic Kerosene (FT-SPK)
- Synthetic Iso-Paraffin from Fermented Hydroprocessed Sugar (HFS-SIP)
- Alcohol To Jet SPK (ATJ-SPK)
- Catalytic Hydrothermolysis Jet (CHJ)
By Type
- Biofuel
- Hydrogen Fuel
- Power To Liquid Fuel
By Blending Capacity
- Below 30%
- 30% to 50%
- Above 50%
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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