Sustainable Aviation Fuel Market Share Analysis Report, 2023-2032
The global sustainable aviation fuel market size was exhibited at USD 434.96 million in 2022 and is projected to hit around USD 14,642.41 million by 2032, growing at a CAGR of 42.14% during the forecast period 2023 to 2032.
Key Pointers:
The aviation industry is keen on bringing down the carbon footprints to achieve a sustainable environment and meet the stringent regulatory standards on emissions. The alternative solutions, such as improving aero-engine efficiency by design modifications, hybrid-electric and all-electric aircraft, renewable jet fuels, etc., are being adopted by various stakeholders of the aviation industry. However, out of these solutions, adoption of sustainable aviation fuels such as e-fuels, synthetic fuels, green jet fuels, biojet fuels, hydrogen fuels is one of the most feasible alternative solutions with respect to socio and economic benefits when compared to others, which contributes significantly to mitigating current and expected future environmental impacts of aviation. In addition, airlines across the entire aviation industry are expanding their commercial fleets, due to rise in air travel These large and growing fleets are propelling the demand for the SAF as a near to mid-term solution for reducing GHG emissions.
Sustainable Aviation Fuel Market Report Scope
|
Report Coverage |
Details |
|
Market Size in 2023 |
USD 618.25 million |
|
Market Size by 2032 |
USD 14,642.41 million |
|
Growth Rate From 2023 to 2032 |
CAGR of 42.14% |
|
Base Year |
2022 |
|
Forecast Period |
2023 to 2032 |
|
Segments Covered |
By Fuel Type, By Technology, By Biofuel Blending Capacity and By Aircraft Type |
|
Market Analysis (Terms Used) |
Value (US$ Million/Billion) or (Volume/Units) |
|
Regional Scope |
North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa |
|
Key Companies Profiled |
Northwest Advanced Biofuels, LLC., Red Rock Biofuels, Fulcrum BioEnergy, Inc., Aemetis, Inc., TotalEnergies SE, OMV Aktiengesellschaft, Neste Oyj, SKYNRG, Gevo Inc., Eni SPA, Avfuel Corporation, SG Preston Company, Sundrop Fuels Inc., Ballard Power Systems, Velocys, ZeroAvia, Inc. and Others. |
COVID-19 impact on the Sustainable Aviation Fuel (SAF) Market
COVID-19 has taken a colossal toll on the world’s economic activity, with individuals, organizations, governments, and businesses having to adapt to the challenges of the crisis. Air travel restrictions across various regions for both domestic and international flights have led to inactive fleets across the globe. 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. Like many other sectors, the SAF Market is also disproportionately impacted by the COVID-19 pandemic due to delays in the production activities across various industries. In addition, many older, less efficient airplanes that are parked as part of the contraction will not return to service. 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
Sustainable Aviation Fuel Market Dynamics:
Driver: Increasing need for reduction in GHG emissions in aviation industry
Sustainable aviation fuels are a key component in meeting the aviation industry’s commitments to decouple increases in carbon emissions from traffic growth. SAF gives an impressive reduction of up to 80% in CO2 emissions over the lifecycle of the fuel compared to fossil jet fuel, depending on the sustainable feedstock used, production method, and the supply chain to the airport. According to the IATA fact sheet, SAF will be an eligible option for aircraft operators to meet their obligations under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). In 2016, the UN’s International Civil Aviation Organization (ICAO) agreed on a Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) to reduce CO2 emissions from international aviation with a pilot phase from 2021–2023, followed by a first phase from 2024–2026.
Restraint: Inadequate availability of feedstock and refineries to meet SAF production demand
The biological and non-biological resources such as oil crops, sugar crops, algae, waste oil, etc., are the raw materials that play an important role in the entire production chain of alternative aviation fuels such as synthetic fuels, e-fuels, and biojet fuels. The demand for sustainable aviation fuel can come to a standstill due to the inadequate supply of raw materials required for its production. Also, limitations of refineries that play a major role in the proper utilization of these feedstocks add to the delay of the overall process of SAF production. The low availability of fuel also becomes a hurdle for the blending capacity of the fuel, leading to less efficiency.
Opportunity: Drop-in capability of SAF increases its demand to reduce carbon footprint
Sustainable aviation fuel, when blended with petroleum-based fuel, is fully fungible drop-in fuels. These fuels are also known as synthetic fuels, renewable jet fuels, e-fuels, green fuels, conventional biojet fuel, and alternative jet fuels depending on the processes, technological pathways and feedstocks used in the production. These fuels are not treated differently than current fuels from petroleum and can use the airport fuel storage and hydrant systems, saving money on infrastructure costs. The continuous efforts to use existing depreciated equipment and infrastructure or co-processing with other streams can potentially be an approach to reducing capital costs. A drop-in fuel is deemed to be equivalent to conventional jet fuel and can be used in current engines and infrastructure without any modifications. These requirements are essential for safety, general usage, and reduction of carbon footprint in the aviation industry.
Challenge: High cost of SAF increases operating cost of airlines
The airlines cannot meet their self-imposed targets for reducing GHG emissions based on engine and flight improvements alone—they need SAF. Fuel cost is a significant fraction of operating costs. SAF, even though made from the waste and the feedstocks that are available for very low cost, requires advanced and expensive technological pathways. SAF is more expensive than petro-jet, given that new production capacity has to be deployed. SAF will not be widely available because production capacity will be built to contracts, not as a commodity, at least in the first decade or so. New biofuel factories take time and money to build, driving up the price of their offtake once they get online and hampering their ability to reach the critical mass of profitability.
Recent Developments:
Some of the prominent players in the Sustainable Aviation Fuel Market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Sustainable Aviation Fuel market.
By Fuel Type
By Technology
By Aircraft Type
By Biofuel Blending Capacity
By Aircraft Type
By Region
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Sustainable Aviation Fuel Market
5.1. COVID-19 Landscape: Sustainable Aviation Fuel Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Sustainable Aviation Fuel Market, By Fuel Type
8.1. Sustainable Aviation Fuel Market, by Fuel Type, 2023-2032
8.1.1. Biofuel
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Power-to-Liquid
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Gas-to-Liquid
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Sustainable Aviation Fuel Market, By Technology
9.1. Sustainable Aviation Fuel Market, by Technology, 2023-2032
9.1.1. HEFA-SPK
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. FT-SPK
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. HFS-SIP
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. ATJ-SPK
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Opthalmology
9.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Sustainable Aviation Fuel Market, By Biofuel Blending Capacity
10.1. Sustainable Aviation Fuel Market, by Biofuel Blending Capacity, 2023-2032
10.1.1. Above 50%
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. 30% to 50%
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Below 30%
10.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Sustainable Aviation Fuel Market, By Aircraft Type
11.1. Sustainable Aviation Fuel Market, by Aircraft Type, 2023-2032
11.1.1. Commercial
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Regional Transport Aircraft
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Military Aviation
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. Business & General Aviation
11.1.4.1. Market Revenue and Forecast (2020-2032)
11.1.5. Unmanned Aerial Vehicles
11.1.5.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Sustainable Aviation Fuel Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.1.2. Market Revenue and Forecast, by Technology (2020-2032)
12.1.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.1.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Technology (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.1.5.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Technology (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.1.6.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.2.2. Market Revenue and Forecast, by Technology (2020-2032)
12.2.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.2.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Technology (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.2.5.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Technology (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.2.6.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Technology (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.2.7.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Technology (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.2.8.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.3.2. Market Revenue and Forecast, by Technology (2020-2032)
12.3.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.3.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Technology (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.3.5.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Technology (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.3.6.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Technology (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.3.7.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Technology (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.3.8.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.4.2. Market Revenue and Forecast, by Technology (2020-2032)
12.4.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.4.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Technology (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.4.5.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Technology (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.4.6.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Technology (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.4.7.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Technology (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.4.8.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.5.2. Market Revenue and Forecast, by Technology (2020-2032)
12.5.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.5.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Technology (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.5.5.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Fuel Type (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Technology (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Biofuel Blending Capacity (2020-2032)
12.5.6.4. Market Revenue and Forecast, by Aircraft Type (2020-2032)
Chapter 13. Company Profiles
13.1. Northwest Advanced Biofuels, LLC.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Red Rock Biofuels
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Fulcrum BioEnergy, Inc.
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Aemetis, Inc.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. TotalEnergies SE
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. OMV Aktiengesellschaft
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Neste Oyj
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. SKYNRG
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Gevo Inc.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Eni SPA
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers