Increasing need of reduction in carbon emission and advanced innovations coupled with increasing performance of aircraft is driving the growth of sustainable aviation fuel market.
According to the TechSci Research report, “Sustainable Aviation Fuel Market-Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028F”, the market is expected to register a rapid CAGR by 2028.The market of sustainable aviation fuel will increase because with the focus on reducing the carbon emission in the environment and with the usage of this fuel will increase the performance of aircrafts as its burn cleaner in aircraft engines.
Sustainable aviation fuel is a biofuel with qualities like conventional jet fuel but with similar carbon footprints that is used to power aeroplanes. Sustainable aviation fuel has the potential to significantly reduce life cycle greenhouse gas emissions when compared to traditional jet fuels, depending on the feedstock and production processes used. With the potential to minimise reliance on conventional aviation fuel, sustainable aviation fuel has up to 85% lower CO2 emissions over its lifetime. Between 2021 and 2035, it is predicted that Carbon Offsetting and Reduction Scheme for International Association will reduce CO2 emissions by about 2.5 billion metric tonnes.
By 2050, aviation industry businesses plan to significantly reduce their net CO2 emissions. Airlines which are IATA members agreed to cut their carbon emissions to zero by the year 2050 in October 2021. At the Shell Energy and Chemicals Park Rotterdam in the Netherlands, Shell PLC stated in September 2021 that a Hydrogen Esters and Fatty Acids plant with an annual capacity of 820,000 tonnes would be built. When it is finished, the facility will probably rank among the largest in Europe to produce waste-derived renewable diesel and sustainable aviation fuel (SAF).
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The global sustainable aviation fuel market is segmented on the basis of fuel type, technology type, application type, and region.
Based on fuel type, the market is further divided into bio fuel, hydrogen fuel and power to liquid fuel . The market has been divided into four categories based on technology: Fischer-Tropsch, Hydroprocessed Esters and Fatty Acids (HEFA), Synthesisized Iso-Paraffinic (SIP) and Alcohol-to-Jet (AJT). The global market was controlled by the HEFA sector.
The HEFA route uses a fatty feedstock, such as vegetable oils or waste fats, which first passes through an oxygenation reaction and then is added to hydrogen so that the fatty molecules can be broken down into hydrocarbons. In terms of end users, the commercial airline sector is anticipated to experience the quickest rate of growth for aviation fuel due to the industry’s total infrastructure investment, increased air traffic to accommodate more passengers, and rapid economic development.
The propensity for travel to industrialised nations and the rising per capita income of emerging nations have influenced demand patterns for aviation and contributed to the explosive increase in global air passenger traffic. The increased need for logistics around the globe is being fueled by commercial opportunities created by improved air connectivity and expanding industrial output of aviation fuel. On the basis of region, North America is expected to dominate the market, with Europe and Asia- Pacific providing the growing opportunities in the market.
Some of the major players operating in the South America Bus & Coach Market include:
- Shell PLC
- Neste Oyj
- SkyNRG
- Gevo Inc.
- AV Fuel Corporation
- Aematis Inc.
- Fulcrum BioEnergy Inc.
- LanzaTech Inc.
- Velocys, Inc.
- Red Rock Biofuels
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“With the concern toward the environmental situation, many companies are investing in the research and development for producing sustainable aviation fuel. With rise in numbers of airline passengers, and increased disposal income the air travel is preferred mode of transport. “The use of sustainable aviation fuel is generally acknowledged as the most practical and trustworthy alternative fuel solution in terms of socio-economic advantages. Sustainable aviation fuel also lessens the environmental impact of the aviation industry now and in the future, -.”said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Sustainable Aviation Fuel Market, By Fuel Type (Biofuel, Hydrogen fuel, Power To Liquid Fuel), By Technology Type (Fischer-Tropsch, Hydroprocessed Esters and Fatty Acids (HEFA), Synthetic Iso-Paraffinic (SIP) and Alcohol-to-Jet (AJT), By Application (Commercial, Defense), By region, Competition Forecast & Opportunities, 2017- 2027F, has evaluated the future growth potential of Global Sustainable Aviation Fuel Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Sustainable Aviation Fuel Market.
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