The new report published by Absolute Markets Insights on "Sustainable Aviation Fuel Market” is bifurcated into the mentioned segments (By Processes/Technology (Fischer-Tropsch (FT) Hydroprocessed Synthesized Paraffinic Kerosene (SPK), Hydroprocessed Esters and Fatty Acids (HEFA-SPK), Hydroprocessed Fermented Sugars to Synthetic Isoparaffins (HFS-SIP), Hydroprocessed Esters and Fatty Acids Plus (HEFA +), FT-SPK with aromatics (FT-SPK/A), Alcohol-to-Jet Synthetic Paraffinic Kerosene (ATJ-SPK), Others); By Blending Capacity (Upto 50%, Upto 10%, Upto 30%, Others); By End Use (Commercial Aviation, Military Aviation, Business & General Aviation, Unmanned Aerial Vehicles); and Region/Country (North America, Europe, Asia Pacific Middle East & Africa, Latin America) - Global Forecast to 2029"
The global sustainable aviation fuel market is projected to grow at a CAGR of 47.89% during the forecast period (2021 – 2029). The growth of the global sustainable aviation fuel market is driven by a rising demand for cheaper fuel alternatives in the aviation industry, coupled with the rise in focus on environmentally friendly fuel sources to reduce the impact of climate change. However, costs and complexities associated with the processing of sustainable fuel sources will impede the growth of the market.
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How Absolute Market Insights is unique in nature?
The research report on Sustainable Aviation Fuel Market will include extensive information based on the following pointers:
- Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Market Determinants and Influencing Factors
- Macro-Economic and Micro-Economic Indicators
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Trends on Global Sustainable Aviation Fuel Market
- Exclusive Details on the Effect of the Pandemic
- Porter’s Five Forces Analysis
- Competitor Landscape
- Product Benchmarking
- Market Share Analysis, 2020
- Global Presence and Growth Strategies
- The final report will include competitive product benchmarking which will include comparison of different products offered by different market participants on the basis of their features and capabilities that will help you to understand their market offerings. Furthermore, for each company, we will provide information regarding company details, company overview, product offerings, key developments, financial analysis, and SWOT analysis and business strategies.
- We offer our report in different languages which include German, French, Spanish, Japanese and Korean amongst others.
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By End-Use, Commercial Aviation Accounted for the Highest Share in the Global Sustainable Aviation Fuel Market In 2020
Commercial aviation plays a prominent role in air transportation, especially in developed countries such as the U.S., and Canada, and developing countries like India, China, amongst others. Aviation companies are increasingly trying to reduce their carbon footprint by reducing the impact of aviation fuel emissions on the environment using sustainable fuel sources. Commercial aviation provided the largest share of the revenue in the global sustainable aviation fuel market in 2020. The growth in the number of flight providers that are focussing on increasing the sustainability of aviation fuels, coupled with the emergence of new companies in the commercial aviation segment is a major reason for the higher revenue share. KLM Royal Dutch Airlines, the Netherland's flag carrier for example, has created a policy wherein the company will be procuring sustainable aviation fuels from providers that do not adversely affect the bio-diversity or food consumption resources during the manufacture of sustainable aviation fuel.
The Market is expected to See Immense Growth after the COVID-19 pandemic
The COVID-19 pandemic has adversely impacted the operations of both civilian and commercial airline companies around the globe. Numerous companies were forced to abandon operations, and lay-off staffs to keep afloat. Based on the figures from the International Civil Aviation Organization, the pandemic has resulted in losses amounting to US$ 371 billion due to the reduction in the number of passengers. There was an overall drop of 60% in passenger numbers in 2020, as compared to the numbers in 2019. However, the industry is slowly reviving, and the companies are increasingly trying to use sustainable fuels which have lesser impact on the environment, and offers more efficiency. The pandemic has also accelerated the research and development initiatives in the global sustainable aviation fuel market, as there in an increase in funding for enhancing the sustainability of fuels in the industry. Therefore, the market is expected to see a growth in revenue in the coming years, triggered by the rise in awareness about sustainable aviation fuels.
By Region, the Asia Pacific Region Is Expected to Show the Higher Growth Rate During the Forecast Years, Driven by the Rise in Adoption and Awareness about Sustainable Aviation Fuels
The Asia Pacific region has the highest population as far the global figures are concerned. Countries such as India, China and Japan are largely focussing on enhancing the availability of commercial flights for their citizens. Commercial aviation is being increasingly focussed in countries like India. Under the UDAN (Ude Desh ka Aam Naagri, which translates to the common man in the country will fly) scheme by the Government of India, commercial airports are being developed at developed and underdeveloped cities to make aviation available for the citizens. The government is largely focussing on the development and adoption of sustainable aviation fuel sources to reduce the environmental impact of the aviation industry, as the country is already suffering from air pollution each day. In Japan, for example, Japan Airlines has entered into a partnership with Honeywell Technology for the use of sustainable aviation fuels in the former's flight. The sustainable jet fuel was made from microalgae feedstock with the help of Honeywell's UOP Ecofining technology. These factors will help the region to emerge as a prominent source of revenue for the market participants in the global sustainable aviation fuel market in the coming years.
The key market participants operating in the global sustainable aviation fuel market are:
- Exxon Mobil Corporation
- Fulcrum BioEnergy
- Gevo
- Honeywell International Inc.
- Neste
- Red Rock Biofuels
- S.G. Preston Company
- Shell
- SkyNRG
- Velocys
- Other Market Participants
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Global Sustainable Aviation Fuel Market
By Processes/Technology
- Fischer-Tropsch (FT) Hydroprocessed Synthesized Paraffinic Kerosene (SPK)
- Hydroprocessed Esters and Fatty Acids (HEFA-SPK)
- Hydroprocessed Fermented Sugars to Synthetic Isoparaffins (HFS-SIP)
- Hydroprocessed Esters and Fatty Acids Plus (HEFA +)
- FT-SPK with aromatics (FT-SPK/A)
- Alcohol-to-Jet Synthetic Paraffinic Kerosene (ATJ-SPK)
- Others
By Blending Capacity
- Upto 50%
- Upto 10%
- Upto 30%
- Others
By End Use
- Commercial Aviation
- Military Aviation
- Business and General Aviation
- Unmanned Aerial Vehicles
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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