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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.
