Renewable Aviation Fuel Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Renewable Aviation Fuel Market: By Product Type (Algal Biofuels, Plant Biofuels, Others), By Application (Commercial, Defense), By Process Type (Hydro processed fatty acids and esters and Fischer-Tropsch (FT)), and Geography.

 

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Report

Description

Renewable Aviation Fuel Market size was valued at USD 112.46 million in 2021 and is expected to reach USD 4691.38 million by 2028, at a CAGR of 70.4% during the forecast period 2022-2028. Renewable aviation fuel are liquid fuels that can be produced from a wide range of biomass including vegetable oils, plant materials, and animal waste. Aviation biofuels can be produced via a number of processing technologies. Different feedstock suit different process technologies depending on the physical and chemical structure of the biomass. Renewable aviation fuels, however, are already established as an alternative jet fuel option with the possibility of significant lifecycle emissions reductions (depending on feedstock and process). But because conventional jet fuel remains significantly cheaper than biojet, price support and cost reductions (e.g. through technological learning) would be required to make biojet competitive. Sustainable aviation fuel is a specific type of gasoline that is designed to be used in planes while also increasing their efficiency. Sustainable aviation fuels are made from renewable resources and have a chemistry that is quite comparable to traditional fossil jet fuel. Increased use of sustainable aviation fuels reduces carbon emissions when compared to regular jet fuel because it replaces the fuel’s lifespan. To create a sustainable environment and meet severe regulatory limits on emissions, the aviation industry is leaning toward reducing carbon footprints.

Key Devolpments:

In October 15 2018, Neste and BP Collaborate on Sustainable Aviation Fuel Development.

Renewable Aviation Fuel Market

MARKET SUMMARY
-
70.4%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 70.4%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North-America

Renewable Aviation Fuel Market

  • The global renewable aviation fuel market report gives a comprehensive outlook on aquaculture across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
  • The report on the global renewable aviation fuel market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, by application, process type, and region.
Key Players
  • Virent Inc.
  • Fulcrum BioEnergy, Inc.
  • Neste Oil Corporation,
  • AltAir Paramount LLC
  • G. Preston Company
Renewable Aviation Fuel Market

Drivers And Restraints

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, aviation biofuels are more expensive than conventional jet fuel28. As fuel costs make up a large proportion of airlines operating costs, from a financial perspective biojet does not provide sufficient benefits to justify changing fuel procurement practices. The volatility of kerosene jet fuel prices – strongly linked with the price of crude oil – acts as one incentive for airlines to move to biojet fuel.


North-America got significant share

Renewable Aviation Fuel Market

Geographically, renewable aviation fuel market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. 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. Europe Renewable Aviation Fuel Marketis expected to be the largest renewable aviation fuel market over the foreseeable future on account of huge investment in development and favorable environment regulations. Various European airline companies have tested the fuel in commercial flights which is anticipated to bolster the market growth in the region. Asia Pacific Renewable Aviation Biofuel Marketis expected to be the highest potential market region due to increasing commercial airline traffic particularly in emerging economies.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East
Renewable Aviation Fuel Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Company Profile

  • 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

Description

Renewable Aviation Fuel Market size was valued at USD 112.46 million in 2021 and is expected to reach USD 4691.38 million by 2028, at a CAGR of 70.4% during the forecast period 2022-2028. Renewable aviation fuel are liquid fuels that can be produced from a wide range of biomass including vegetable oils, plant materials, and animal waste. Aviation biofuels can be produced via a number of processing technologies. Different feedstock suit different process technologies depending on the physical and chemical structure of the biomass. Renewable aviation fuels, however, are already established as an alternative jet fuel option with the possibility of significant lifecycle emissions reductions (depending on feedstock and process). But because conventional jet fuel remains significantly cheaper than biojet, price support and cost reductions (e.g. through technological learning) would be required to make biojet competitive. Sustainable aviation fuel is a specific type of gasoline that is designed to be used in planes while also increasing their efficiency. Sustainable aviation fuels are made from renewable resources and have a chemistry that is quite comparable to traditional fossil jet fuel. Increased use of sustainable aviation fuels reduces carbon emissions when compared to regular jet fuel because it replaces the fuel’s lifespan. To create a sustainable environment and meet severe regulatory limits on emissions, the aviation industry is leaning toward reducing carbon footprints.

Key Devolpments:

In October 15 2018, Neste and BP Collaborate on Sustainable Aviation Fuel Development.

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