The Aviation Fuel Global Market Report 2023, provides comprehensive information on the aviation gasoline market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global aviation fuel market size will grow from $189.07 billion in 2022 to $217.19 billion in 2023 at a compound annual growth rate (CAGR) of 14.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aviation fuel market size is expected to grow to $399.87 billion in 2027 at a CAGR of 16.5%.
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Biofuel that can significantly reduce carbon emissions is an emerging trend in the aviation fuel market. Biofuel refers to a renewable energy source derived from microbial, plant, or animal materials. The various types of biofuels include ethanol made from corn and sugarcane, biodiesel made from vegetable oils and liquid animal fats, green diesel made from algae and other plant sources, and biogas which is methane derived from animal manure and other digested organic material. The biofuels that are derived from grasses and plants can mitigate global warming by reducing carbon emissions. Aviation fuel companies are increasingly investing in the production of biofuels to offer sustainbale and emission free fuel to aerospace companies. For instance, in September 2021, POET, the largest biofuels producer in the US announced the commitment to achieving net-zero carbon emissions at its bioprocessing facilities by 2050. Furthermore, in February 2022, Nuseed, a provider of new, sustainable plant-based solutions to growers, industry, and end-use customers, and BP Products North America Inc., an oil and gas company, made a long-term strategic offtake and market development agreement to process or sell into growing markets to produce sustainable biofuels.
The aviation gasoline market is segmented:
1) By Fuel Type: Jet A, Jet A1, Jet B, JP 5, JP 8, Avgas, Biofuel
2) By Grade: Jet fuel, Aviation Gasoline, Biokerosene
3) By End Use: Commercial, Military, Private, Other End Uses
North America was the largest region in the aviation gasoline market in 2022.
The table of contents in TBRC’s aviation gasoline market report includes:
- Executive Summary
- Aviation Fuel Market Characteristics
- Aviation Fuel Market Trends And Strategies
- Aviation Fuel Market – Macro Economic Scenario
- Aviation Fuel Market Size And Growth
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- Africa Aviation Fuel Market
- Aviation Fuel Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Aviation Fuel Market
- Aviation Fuel Market Future Outlook and Potential Analysis
- Appendix
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