Global Renewable Aviation Fuel market Report Description:
Global renewable aviation fuel market report gives comprehensive outlook on Renewable Aviation Fuel market across the regions like North America, Europe, Asia Pacific, Latin America, Middle East Africa. The report on global Renewable Aviation Fuel market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies global Renewable Aviation Fuel market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global Renewable Aviation Fuel market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Renewable Aviation Fuel market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global Renewable Aviation Fuel market report include suppliers, manufacturers, marketers, policy makers, and recent market activities.
Global Renewable Aviation Fuel market:
New innovations and developments are undertaken by the major players in the market which strengthens its position. For instance, research is being done on alcohol-to-jet pathway, where alcohols such as ethanol or butanol are de-oxygenated and processed into jet fuels. Furthermore, various key players are focused towards increasing production bio jet fuels which propels the growth of renewable aviation market. However, a major challenge for the bio jet fuel market, is the lack of a viable source for the production of biofuels on a commercial scale which has resulted in the current high bio jet fuel prices, which is leading to the airline companies not buying bio jet fuel on a large scale. Despite the need and airline support for bio jet, producers struggle to make renewable fuel cost-competitive with fossil fuels. Currently, bio jet fuel is supplied through segregated logistics which leads to higher costs which may reduce its demand..
Expansion and Partnerships Play Vital Role in the Growth of Renewable Aviation Fuel Market
Players operating in the global renewable aviation fuel market are adopting various growth strategies such as plant’s capacity expansion to cater to increasing demand for Bio Jet Fuel. For instance, In July 2018, Red Rock Biofuels started construction of a new bio refinery facility in Lakeview, Oregon for the project aiming to convert 136,000 tons of waste woody biomass into 15.1 million gallons/year of renewable fuels. Furthermore, various key players are focused towards increasing production bio jet fuels. For instance, In September 2018, Fulcrum Bioenergy, Inc. announced plans to enter into partnership with Marubeni Corporation, Japan Airlines Co. Ltd. (JAL), and the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN). The strategic partnership aims at development of sustainable aviation fuels that will include a US$ 8 million investment by the airline in waste-to-jet fuel process of Fulcrum.
Increase in Demand for Aviation Fuel Upsurges the Growth of Renewable Aviation Fuel Market
Renewable fuels have gained in popularity due to their sustainability, low contributions to the carbon cycle, and in some cases lower amounts of greenhouse gases. The geo-political ramifications of these fuels are also of interest, particularly to industrialized economies which desire independence from Middle Eastern oil. Increase in the Air Passengers in the Emerging Economies Driving the Aviation Fuel Market. Demand for aviation fuel has increased significantly over the last two years owing to the rise in airline passenger traffic. As per the International Civil Aviation Organization (ICAO), 3.97 billion passengers flew on scheduled flights around the world in 2017. According to the International Air Transport Association, this passenger number represented a growth of XX% y-o-y, as measured by revenue passenger kilometers (RPKs). These factors contribute to the increasing demand for aviation fuel, which has been one of the strongest performers among transportation fuels in recent years. Expanding middle class in emerging countries, diverging demographic outlooks, and liberalization of aviation markets are some of the major factors to be considered for the increase in air passengers count every year.
North America Accounts for Larger Market Revenue Share in Global Renewable Aviation Fuel Market
North America renewable aviation fuel market is one of the largest markets for both the aviation industry and renewable aviation fuel. An improving economy both at home and globally translated into a good year for the US aviation in 2017. The support from the Federal Aviation Administration is driving the consumption of biofuel in the aviation industry. The US Department of Commerce (DOC) has put import duties on foreign biodiesel volumes sourced from Indonesia and Argentina, the two leading exporters of biodiesel. This has resulted in the decline in imports. Such efforts are expected to drive the domestic production of biofuels to meet the increasing demand from the aviation sector.
Key players profiled in the global renewable aviation fuel market include:
- Gevo, Inc.
- Red Rock Biofuels LLC.
- Honeywell International Inc.
- Virent Inc.
- Fulcrum BioEnergy, Inc.
- Neste Oil Corporation,
- AltAir Paramount LLC
- G. Preston Company
- SkyNRG BV
- Eni SpA Total S.A
- BP PLC
Key players are adopting new strategy to establish their footprint worldwide thereby enhancing their product portfolio. Merger, acquisition, product development and collaborations are some of the market strategy the key players implement. In October 15 2018, Neste and BP Collaborate on Sustainable Aviation Fuel Development.
Key Findings of the Report:
Global renewable aviation fuel market expanding at significant CAGR over 2019 to 2025 to reach market value of US$ XX Mn by 2025 owing to increase in demand for aviation bio fuels.
- Based on application type defense segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on mergers and acquisitions strategies to retain market position in global renewable Aviation Fuel market
Key Features of the Report:
- The report provides granular level information about the market size, country market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product Type
- Algal Biofuel
- Plant Biofuel
By Application Type
- North America
- Rest of Europe
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Gulf Corporation Council Countries (GCC)
- Rest of MEA