10-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “Renewable Aviation Fuel Market 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%), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. According to the report, the global renewable aviation fuel market is predicted to be valued at approximately USD 67 Million in 2020 and is expected to reach a value of around USD 13,789.4 Million by 2026, at a CAGR of around 67.2% between 2021 and 2026.
Renewable aviation fuel is also termed aviation biofuel and finds massive application in aircraft. It is also considered as the key means of minimizing the carbon footprint of the aviation industry. Moreover, biofuels were approved for commercial usage in July 2011 post a multi-year technological evaluation by airplane manufacturers, engine creators, and oil firms.
Browse the full “Renewable Aviation Fuel Market 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%), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” Report at https://www.fnfresearch.com/renewable-aviation-fuel-market-by-type-fischer-tropsch-129
Increase in the aviation fuel prices to propel the market surge over the forecast timeline
The growth of the renewable aviation fuel industry during the period from 2019 to 2027 is due to a rise in the costs of aviation fuels. Moreover, growing concerns over the need to reduce greenhouse gas emissions will impel the market trends. Apart from this, the escalating need for reducing the overall manufacturing costs of aviation fuel will impel the expansion of the renewable aviation fuel industry over the period from 2019 to 2027. Nevertheless, the restricted access to feedstock will obstruct the expansion of the renewable aviation fuel industry over the forecast timeline. Moreover, the high costs of producing these renewable aviation fuels and strict laws regulating its usage will further pose a challenge towards the expansion of the market over the forecast timeline. However, the increase in the crude oil costs and implementation of strict environmental laws by the government is likely to provide an impetus to the growth of the renewable aviation fuel industry over the forecast timeline.
Furthermore, growing acceptance of the product across the globe due to high funding in airport infrastructure will drive the market expansion over the forecast period.
Hydro Processed Fatty Acids & Esters to dominate the type segment by 2027
The growth of the Hydro Processed Fatty Acids & Esters segment over the forecast timeframe is attributed to the massive demand for the type in the manufacture of renewable aviation fuel.
Commercial segment to lead the application landscape over the forecast period
The growth of the segment during the forecast timeline is owing to the escalating popularity of aviation fuel as well as the growing need for curbing carbon emissions in the atmosphere.
North America to contribute majorly towards the overall market surge by 2027
The growth of the regional market over the forecast timespan is due to favorable laws enacted by the government of the region aiding the manufacture of renewable aviation fuels. Apart from this, the region is also a key business destination for renewable aviation fuel activities as well as aviation fuel production.
Apparently, the growing focus of the U.S. government on producing bio-jet fuels for defense or military purposes will prompt the market progression in the region.
Top Market Players
The key market participants for the global renewable aviation fuel market are Neste, Gevo, World Energy, Eni, SkyNRG, Fulcrum BioEnergy, Velocys, Aemetic, Inc., Red Biofuels, SG Preston Company, Sundrop Fuels, Inc., Hypoint, Inc., ZeroAvia, Inc., Total S.A., and Swedish Biofuels AB, among others.
This report segments the Renewable Aviation Fuel market as follows:
Global Renewable Aviation Fuel Market: By Technology Segment Analysis
- 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)
Global Renewable Aviation Fuel Market: By Type Segment Analysis
- Biofuel
- Hydrogen Fuel
- Power To Liquid Fuel
Global Renewable Aviation Fuel Market: By Blending Capacity Segment Analysis
- Below 30%
- 30% to 50%
- Above 50%
Renewable Aviation Fuel Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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