The "Sustainable Aviation Fuel Market Opportunities and Strategies to 2034" has been added to ResearchAndMarkets.com's offering.
The global sustainable aviation fuel (SAF) market, valued at $2.18 billion in 2024, has demonstrated exponential growth with a compound annual growth rate (CAGR) of 64.41% from 2019. This surge is set to continue, propelling the market to reach $19.03 billion by 2029, and further escalating to $94.97 billion by 2034, at CAGRs of 54.23% and 37.92%, respectively.
The historical surge was fueled by factors such as rising disposable incomes, increased air travel, and heightened awareness of environmental sustainability. However, high production costs posed certain challenges. Looking forward, the market's expansion is supported by urbanization, economic growth, regulatory backing, and governmental net-zero goals. The move towards biofuel adoption is significant, but limited production capacity may pose future constraints.
In 2023, the sustainable aviation fuel market showcased a high concentration of key players, with the top ten competitors controlling approximately 29.17% of the market. Neste Oyj led, capturing a 5.99% share, followed by Montana Renewables, BP plc, and others. Western Europe was the predominant region, accounting for 52.87% of the market, while Asia Pacific and Africa are projected as the fastest-growing regions with CAGRs of 62.92% and 62.06%, respectively.
The market segmentation by fuel type highlights the biofuel segment as the largest, representing 72.50% or $1.58 billion of the market in 2024. Projected as the fastest-growing segment, biofuel is expected to maintain dominance with a CAGR of 56.94% during 2024-2029. In terms of blending capacity, the 30% to 50% range was the leading segment in 2024, anticipated to grow further at a 57.53% CAGR. The commercial aviation segment represents the largest platform category, but unmanned aerial vehicles are set to become the most rapidly expanding segment at a 61.74% CAGR during the same period.
Strategically, market participants are encouraged to pursue advancements through partnerships, focusing on innovation in ethanol-based SAF, data-driven sustainability communications, and enhancing production capabilities via strategic investments. Special emphasis on the biofuel sector is advised for rapid growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 334 |
| Forecast Period | 2024 2034 |
| Estimated Market Value (USD) in 2024 | $2.18 Billion |
| Forecasted Market Value (USD) by 2034 | $94.97 Billion |
| Compound Annual Growth Rate | 45.8% |
| Regions Covered | Global |
Major Market Trends
- Advancing Sustainable Technologies Through Collaboration
- Strategic Investments Drive Sustainable Aviation Fuel Production
- Revolutionizing Aviation With Lower-Carbon Jet Fuel Alternatives
- Innovative Real-Time Tracking Tools for SAF Adoption
- Advancements in Bio-Refining Technologies to Enhance Fuel Production
- Strategic Partnerships and Acquisitions Among Market Players
Companies Featured
- Neste Oyj
- Montana Renewables
- BP plc
- World Energy Inc.
- TotalEnergies SE
- Eni S.p.A.
- AVFUEL CORPORATION
- Shell plc
- Chevron Renewable Energy Group (REG)
- SkyNRG BV
- SK Energy
- HD Hyundai Oilbank
- Marubeni Coordinates
- DHL Express
- Cosmo Oil Marketing Co., Ltd
- Indian Oil Corporation Ltd. (IOCL)
- Airbus SE
- BP Plc
- LanzaJet, Inc.
- Qantas
- Virgin Australia
- Zhejiang Jiaao Enprotech Stock Co., Ltd.
- China Energy Engineering Group Co., Ltd.
- Sinopec
- Euglena Co., Ltd.
- Marubeni Corporation
- Sumitomo Corporation
- Petronas
- Malaysia Aviation Group
- Singapore Airlines
- Bangchak Corporation
- Amadeus IT Group
- SkyNRG
- Air France-KLM
- Caphenia
- VTTI
- Galp Energia
- Repsol
- Cepsa
- IAG (International Airlines Group)
- Travel Places Limited
- Enilive S.p.A
- OMV
- Austrian Airlines
- Unipetrol
- MOL Group
- LOT Polish Airlines
- PKN Orlen
- Rompetrol
- Slovnaft Petrol d.d.
- TAROM
- Aeroflot
- Gazprom Neft
- World Energy Inc.
- Air Company
- Honeywell International Inc.
- KBR, Inc.
- Gevo Inc.
- Lummus Technology
- Cap Clean Energy
- LanzaJet Inc.
- Fulcrum BioEnergy
- Alder Fuels
- BioVeritas LLC.
- WestJet Airlines Ltd.
- Azure Sustainable Fuels Corp
- Expander Energy
- Azzera
- Agrisoma Biosciences
- Shell plc.
- Exxon Mobil Corporation
- Petrobras Brasileiro S.A.
- Refinaria de Petroleo Riograndense SA (Riograndense)
- LATAM Airlines Group
- BSBIOS
- Petrol Ofisi Group
- Pegasus Airlines
- Alfanar Energy
- QatarEnergy
- ADNOC (Abu Dhabi National Oil Company)
- ENOC Group (Emirates National Oil Company)
- Emirates Airline
- Qatar Airways
- The Saudi Aramco Total Refining and Petrochemical Company (SATORP)
- Saudi Arabian Airlines
- Sasol
- PetroSA
- Kenya Airways
- EgyptAir
For more information about this report visit https://www.researchandmarkets.com/r/1612y2
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