Sustainable Aviation Fuel Market insights

Sustainable Aviation Fuel Market – By Fuel Type (Biofuel, Power-to-Liquid, Gas-to-Liquid, Hydrogen Fuel), By Technology (HEFA-SPK, FT-SPK, HFS-SIP, ATJ-SPK, CHJ), By Blending Capacity, By Aircraft Type & Forecast 2024 – 2032

Companies in the aviation industry are becoming more focused on sustainability. This focus on sustainability is driving the use of sustainable aviation fuel (SAF), which is seen as a key way to reach the goal of net-zero carbon emissions by 2050. In the last few years, the Sustainable Aviation Fuel Market has grown rapidly, and it’s expected to continue to grow at a rate of over 45% between 2024 and 2032. This growth is due to the increasing number of airlines and other aviation companies that are making sustainability a priority. For example, GE Aerospace has been testing SAF in its engines since 2016. In 2023, Emirates conducted a test flight on an A380 that used pure SAF in one of its four engines. This test showed that SAF can be used in commercial aviation without any major problems.

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Sustainability initiatives, including the use of sustainable aviation fuels, help these companies align with growing consumer preferences for environmentally responsible practices. As more companies commit to sustainability goals and seek to achieve carbon neutrality, the demand for sustainable aviation fuel is expected to rise.

Sustainable Aviation Fuel Market Trends
Governments are leaping into action to facilitate the use of sustainable aviation fuel (SAF). With the globe attempting to reduce carbon emissions, numerous governments are establishing policies to promote the production and consumption of SAF. For example, in late 2023, the US Biden administration rolled out a grand initiative to green up air travel. They’re going to give money to companies that develop SAF made from crops, like biofuels from soybeans, diesel from animal fat, and even regular old ethanol. This is all part of a push to get the aviation industry to use cleaner fuels.

Technological innovations in the production scalability, refining processes, and feedstock sourcing have helped improve the economics of sustainable aviation fuels. The cost competitiveness of sustainable aviation fuels can further grow with advancements in technology, further incentivizing the use of such fuels by the aviation sector.

North America is pioneering the use of and production of sustainable jet fuel, accounting for almost half of the total world market in 2023. This development comes as a result of collaborative government policies, progressive airlines, and innovative business players. Governments have established policies that provide incentives as well as mandates for using sustainable jet fuel. This is a more desirable energy source for airlines to invest in, considering that it is cleaner. Airlines are also beginning to see that it is a good idea to use sustainable jet fuel as a means of lowering their carbon footprint and attracting environmentally aware consumers. Investors are also seeing the potential of sustainable jet fuel, and they’re investing in projects that are working on developing and manufacturing this new fuel. This is developing into a virtuous circle whereby additional investment produces further development, leading to increased airline demand. This is occurring alongside growing awareness amongst consumers about the carbon footprint of flying. This is increasing the pressure on airlines to discover solutions to cutting back on their carbon emissions, pushing demand for sustainable jet fuel ever higher in North America.

Sustainable Aviation Fuel Market Share
Neste and Shell PLC have a high market share in the sustainable aviation fuel industry. Neste focuses on using renewable feedstocks, i.e., residues and waste, to produce sustainable aviation fuel. This approach goes with environmental aspirations and supports the circular economy.

Shell PLC takes an integrated energy company strategy with a focus on a diversified energy portfolio that consists of sustainable aviation fuel. The strategy puts Shell in a position to address the changing energy demands of the aviation industry.

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Sustainable Aviation Fuel Market Companies
Key players in the sustainable aviation fuel market are

Aemetis, Inc.
Alder Fuels
Fulcrum BioEnergy Inc.
Gevo Inc.
LanzaJet
Neste
Northwest Advanced Bio-Fuels, LLC
Preem AB
Red Rock Biofuels
Shell PLC
SkyNRG BV
World Energy

Global sustainable aviation fuel market report based on fuel type, technology, aircraft type, platform, and region:

• Fuel Type Outlook 
  • Biofuel
  • Hydrogen Fuel
  • Power to Liquid Fuel
  • Gas-to-Liquid
• Technology Outlook 
  • HEFA-SPK
  • FT-SPK
  • HFS-SIP
  • ATJ-SPK
• Aircraft Type Outlook 
  • Fixed Wings
  • Rotorcraft
  • Others
• Platform Outlook 
  • Commercial
  • Regional Transport Aircraft
  • Military Aviation
  • Business & General Aviation
  • Unmanned Aerial Vehicles