Sustainable Aviation Fuel Market is estimated to be US$ 14896.85 million by 2030

Sustainable Aviation Fuel Market accounted for US$ 98.3 million in 2020 and is estimated to be US$ 14896.85 million by 2030 and is anticipated to register a CAGR of 60.4%. SAF is a biofuel and this is used to power aircraft that has similar properties to conventional jet fuel but with a smaller carbon footmark. Depending on the feedstock and technologies used to produce it growing, sourcing and producing sustainable aviation fuel obtained from renewable and waste resources can create new economic opportunities in farming communities, improve the environment. SAF can be made with a variety of technologies, which use physical, biological, and chemical reactions to break down biomass and waste resources and to reunite them into energy-dense hydrocarbons like conventional jet fuel. Factors such as rise in number of airline passengers, coupled with increased disposable income, increase in air transportation, and increase in usage of synthetic lubricants supplement growth of the global sustainable aviation fuel market. However, fluctuations in crude oil prices and dirt of lubricants are the factors that are expected to interfere growth of the market during the forecast period.

The report " Global Sustainable Aviation Fuel Market, By Fuel Type (Biofuel, Hydrogen Fuel, and Power to Liquid Fuel), By Biofuel Manufacturing Technology (Hydroprocessed Fatty Acid Esters and Fatty Acids - Synthetic Paraffinic Kerosene (HEFA-SPK), Fischer Tropsch Synthetic Paraffinic Kerosene (FT-SPK), and Synthetic Iso-paraffin from Fermented Hydroprocessed Sugar (HFS-SIP)), By Biofuel Blending Capacity (Below 30%, 30% to 50%, and Above 50%), By Platform (Commercial Aviation, Military Aviation, Business & General Aviation, and Unmanned Aerial Vehicle) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030’’

Key Highlights:

• In August 2022, Lufthansa Group and Shell to cooperate on Sustainable Aviation Fuel (SAF) supply. Lufthansa Group and Shell have signed a Memorandum of Understanding to explore the supply of Sustainable Aviation Fuel (SAF) at airports globally. Lufthansa Group said that the current generation of SAF – mainly produced from biogenic residues – saves 80 per cent CO2 compared to conventional kerosene.
• In August 2022, World Energy to Build Its Second SAF Facility at Its Current Houston Ship Channel Production and Distribution Hub. World Energy, a the energy is carbon-net-zero solutions provider, announced it is launching advanced engineering plans to convert its existing fortune in Houston to launch a new Sustainable Aviation Fuel (SAF) hub that will enable the company to create another 250 million gallons of SAF annually by 2025.

Analyst View:

Biomass and organic waste are to be used as sources for sustainable aviation fuel. It has the potential to be employed in all varieties of petroleum-based gasoline engines now that cutting-edge technologies are readily available. As a result, companies that produce sustainable aviation fuel are finding new markets. Many aviation industry stakeholders are moving toward hybrid-electric and all-electric aircraft as well as renewable jet fuels, but using sustainable aviation fuel is seen as the most dependable and practical alternative approach. It is anticipated that SAF would soon develop into a viable alternative fuel.

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Key Market Insights from the report:

Global Sustainable Aviation Fuel Market accounted for US$ 98.3 million in 2020 and is estimated to be US$ 14896.85 million by 2030 and is anticipated to register a CAGR of 60.4%. The Global Sustainable Aviation Fuel Market is segmented based on Fuel Type, Biofuel Manufacturing technology, Biofuel Blending Capacity, platform and Region.

• Based on Type, Global Sustainable Aviation Fuel Market is segmented into Biofuel, Hydrogen Fuel and Power to Liquid Fuel.
• Based on Biofuel Manufacturing Technology, Global Sustainable Aviation Fuel Market is segmented into Hydroprocessed Fatty Acid Esters and Fatty Acids - Synthetic Paraffinic Kerosene (HEFA-SPK), Fischer Tropsch Synthetic Paraffinic Kerosene (FT-SPK), and Synthetic Iso-paraffin from Fermented Hydroprocessed Sugar (HFS-SIP).
• Based on Biofuel Blending Capacity, Global Sustainable Aviation Fuel Market is segmented into below 30%, 30% to 50%, and above 50%.
• Based on Platform Global Sustainable Aviation Fuel Market is segmented into Commercial Aviation, Military Aviation, Business & General Aviation, and Unmanned Aerial Vehicle.
• By Region, the Global Sustainable Aviation Fuel Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Sustainable Aviation Fuel Market:

The prominent players operating in the Global Sustainable Aviation Fuel Market include Aurubis AG, Electronic Recyclers International, Inc., Sims Metal Management Limited, Umicore S.A., Boliden AB, MBA Polymers, Inc., Stena Metall AB, Enviro-Hub Holdings Ltd., Global Electric Electronic Processing Inc., and Tetronics International Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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