The composition of Sustainable Aviation Fuel includes renewable feedstock, such as waste oils from a biological origin, agricultural residues, and non-fossil CO2. It is a clean substitute for jet fossil fuel and very similar to traditional fuels regarding chemistry.
According to the MarkNtel Advisors’ research report, "Global Sustainable Aviation Fuel Market Analysis, 2021," the market is expected to grow at a CAGR of around 35% during 2021-26. The market growth is accredited to the rising urge to bring down the carbon footprints and meet the strict regulatory standards regarding emissions.
Further, the expansion of the aviation industry and rising global trade are likely to boost aviation fuel usage. Therefore, to achieve a sustainable environment, the demand for sustainable aviation fuel will grow significantly in the future.
Impact of COVID-19
The outbreak of the COVID-19 pandemic has adversely affected the global economy. Lockdown imposition, suspension of domestic and international flights, and air travel restrictions for non-essential traveling have negatively impacted the sustainable aviation fuel market growth.
Also, the limited workforce to avoid the spread of coronavirus and a temporary halt in production activities has resulted in delayed deliveries of new aircraft that has eventually affected the demand for sustainable aviation fuel.
Bio-fuel Accounted for the Largest Market Share
Based on the Fuel Type, the sustainable aviation fuel market is into Biofuel, Hydrogen Fuel, and Power to Liquid Fuel. The bio-fuel segment acquired the largest share in the Global Sustainable Aviation Fuel Market in 2019 owing to its ability to reduce greenhouse gas emissions and positively affect climate change.
Further, biofuel production is likely to increase rapidly in the coming years due to the development of technological ways to commercialize the consumption of alternative jet fuel, reveals MarkNtel Advisors’ research report "Global Sustainable Aviation Fuel Market Analysis, 2021."
30%-50% Segment Grabbed the Highest Share
Based on the Blending Capacity, the sustainable aviation fuel market is below 30%, 30% to 50%, and above 50% segments. Among these, the ’30% to 50%’ segment has captured the largest share in the Global Sustainable Aviation Fuel Market in 2019.
The blended fuel exhibits similar specifications to conventional jet fuel, along with a few other additional benefits. The moderate blending capacity and ability to cater to the extremely high fuel demand from the commercial & military sectors are the primary propellers over the forecast period.
North America Acquired the Leading Position
Region-wise, North America has dominated the Global Sustainable Aviation Fuel Market in 2019 and is expected to retain its leading position during the forecast period. North American countries like the US and Canada are focused on taking various initiatives to promote the usage of sustainable aviation fuel to reduce the carbon footprints caused due to rising air traffic. Therefore, with supportive norms and regulations to decarbonize aviation emissions, North America certainly can experience strong demand for sustainable aviation fuel.
The surge in The Need to Reduce Emission of Greenhouse Gas Emission
The use of sustainable aviation fuel will help meet the regulatory standards on emission and reduce carbon emission due to the rising air traffic. Based on the type of feedstock used, sustainable aviation fuel gives a remarkable reduction in carbon emission compared to conventional jet fuel. Thus, to achieve the target of greenhouse gas emissions reduction, the demand for sustainable aviation fuel is growing significantly.
According to MarkNtel Advisors, the major leading players in the global Sustainable Aviation Fuel market are Neste Oyj, SKYNRG, SG Preston Company, Aemetis, Inc., Avfuel Corporation, Gevo Inc., Velocys, Fulcrum Bioenergy, Ballard Power Systems, SG Preston Company, Aemetis, Inc, Sundrop Fuels Inc., Eni SPA, ZeroAvia, Inc., Red Rock Biofuels.
Key Questions Answered in the Market Research Report:
1. What are the primary overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Sustainable Aviation Fuel Market?
2. What are the region-wise industry size, growth drivers, and challenges?
3. What are the key innovations, opportunities, current, and future trends, and regulations in the Global Sustainable Aviation Fuel Market?
4. Who are the key competitors, their key strengths and weaknesses, and how they perform in Global Sustainable Aviation Fuel Market based on a competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the Global Sustainable Aviation Fuel Market study?
Market Outlook, Segmentation and Statistics
1) Impact of COVID-19 on Global Sustainable Aviation Fuel Market
2) Market Size & Analysis
a) By Revenue
3) Market Share & Analysis
a) By Fuel Type
ii) Hydrogen Fuel
iii) Power to Liquid Fuel
b) By Manufacturing Technology
i) Alcohol to Jet SPK
ii) Catalytic Hydrothermolysis Jet
iii) Fischer Tropsch Synthetic Paraffinic Kerosene
iv) Fischer Tropsch Synthetic Paraffinic Kerosene with Aromatics
v) Hydro processed Fatty Acid Esters and Fatty Acids - Synthetic Paraffinic Kerosene
vi) Synthetic Iso-paraffin from Fermented Hydro processed Sugar
c) By Blending Capacity
i) Below 30%
ii) 30% to 50%
iii) Above 50%
d) By End-User
i) Commercial Aviation
ii) Military Aviation
iii) Business & General Aviation
e) By Region
i) North America
iv) Latin America
v) Middle East & Africa
f) By Competitors
i) Competition Characteristics
ii) Market Share & Analysis
iii) Competitive Metrix
4) Global Sustainable Aviation Fuel Market Hotspots & Opportunities
5) Global Sustainable Aviation Fuel Market Regulations & Policy
6) Key Strategic Imperatives for Success and Growth
7) Global Competition Outlook
a) Competition Matrix
b) Company Profile