The global Sustainable Aviation Fuel market was valued at US$1,025.1 million in 2023 and is projected to grow at a CAGR of 44.5% during the forecast period 2024-2034.
The Sustainable Aviation Fuel Market Report 2024-2034: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Government Initiatives Are Pushing the Adoption of Sustainable Aviation Fuel (SAF)
Stringent environmental regulations and policies worldwide are driving the sustainable aviation fuel (SAF) market's growth. Governments are enacting measures like blending mandates and incentives to boost SAF adoption, with some countries emphasizing hydrogen solutions. Initiatives like the US Inflation Reduction Act and the UK's Jet Zero strategy are driving the hydrogen economy, with the aviation industry focusing on hydrogen-powered electricity by 2023. Also, carbon pricing mechanisms and emissions trading schemes incentivize investment in SAF production and use. As governments continue to tighten environmental regulations and set ambitious emissions reduction targets, the demand for SAF is expected to expand, creating favourable market conditions for industry players.
Challenges Associated with Sustainable Aviation Fuel (SAF) Industry
A key challenge impeding the Sustainable Aviation Fuel (SAF) market growth is the limited availability and high cost of sustainable feedstocks. For example, according to the International Council on Clean Transportation (ICCT), the production cost of Sustainable Aviation Fuel varies significantly, ranging from €0.88 per litter or US$1.0 per litter (for lipid-based feedstock using the hydro processed esters and fatty acids (HEFA) process) to €3.44 per litter or US$3.9 per litter (via hydro processing of fermented sugars). This cost range is about 2 to 8 times higher than the price of conventional jet fuel.
Also, the UK-based trade group Energy Industries Council (EIC) report from March 2024, underscores the primary obstacles hindering the global expansion of sustainable aviation fuel (SAF) production: high costs and limited feedstock availability. Despite SAF's significant environmental advantages, such as an up to 80% reduction in lifecycle carbon emissions compared to traditional jet fuel, its current market share remains below 1%. To achieve the aviation industry's goal of net-zero carbon dioxide emissions by 2050, addressing challenges like access to feedstocks, attracting investment, and implementing supportive government policies for SAF production and adoption is imperative.
What Questions Should You Ask before Buying a Market Research Report?
How is the sustainable aviation fuel market evolving?
What is driving and restraining the sustainable aviation fuel market?
How will each sustainable aviation fuel submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
How will the market shares for each sustainable aviation fuel submarket develop from 2024 to 2034?
What will be the main driver for the overall market from 2024 to 2034?
Will leading sustainable aviation fuel markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
Who are the leading players and what are their prospects over the forecast period?
What are the sustainable aviation fuel projects for these leading companies?
How will the industry evolve during the period between 2024 and 2034? What are the implications of sustainable aviation fuel projects taking place now and over the next 10 years?
Is there a greater need for product commercialisation to further scale the sustainable aviation fuel market?
Where is the sustainable aviation fuel market heading and how can you ensure you are at the forefront of the market?
What are the best investment options for new product and service lines?
What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the sustainable aviation fuel market today, and over the next 10 years:
Our 286-page report provides 112 tables and 161 charts/graphs exclusively to you.
The report highlights key lucrative areas in the industry so you can target them - NOW.
It contains in-depth analysis of global, regional and national sales and growth.
It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the sustainable aviation fuel market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2034 and other analyses reveal commercial prospects
In addition to revenue forecasting to 2034, our new study provides you with recent results, growth rates, and market shares.
You will find original analyses, with business outlooks and developments.
Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising sustainable aviation fuel prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, "V", "L", "W" and "U" are discussed in this report.
Segments Covered in the Report
Fuel Type
Hydrogen Fuel Cell
Biofuel
Power to Liquid
Gas to Liquid
Blending Capacity
Below 30%
30% to 50%
Above 50%
Biofuel Manufacturing Technology
HFS-SIP
ATJ-SPK
FT-SPK
HEFA-SPK
Platform
Commercial Aviation
Military Aviation
Business & General Aviation
Unmanned Aerial Vehicle
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 16 leading national markets:
North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Russia
Rest of Europe
Asia Pacific
Japan
China
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
MEA
GCC
South Africa
Rest of MEA
The report also includes profiles and for some of the leading companies in the Sustainable Aviation Fuel Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
Aemetis, Inc.
Avfuel Corporation
Ballard Power Systems
Eni SPA
Fulcrum BioEnergy, Inc.
Gevo Inc.
LanzaTech
Neste Oyj
Northwest Advanced Biofuels, LLC.
OMV Aktiengesellschaft
Red Rock Biofuels
SKYNRG
TotalEnergies SE
Velocys
Overall world revenue for Sustainable Aviation Fuel Market, 2024 to 2034 in terms of value the market will surpass US$1,465.6 million in 2024, our work calculates. We predict strong revenue growth through to 2034. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How will the Sustainable Aviation Fuel Market, 2024 to 2034 report help you?
In summary, our 280+ page report provides you with the following knowledge:
Revenue forecasts to 2034 for Sustainable Aviation Fuel Market, 2024 to 2034 Market, with forecasts for fuel type, blending capacity, biofuel manufacturing technology, and platform, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
Revenue forecasts to 2034 for five regional and 16 key national markets - See forecasts for the Sustainable Aviation Fuel Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, Russia, Italy, China, India, Japan, and Australia among other prominent economies.
Prospects for established firms and those seeking to enter the market - including company profiles for 14 of the major companies involved in the Sustainable Aviation Fuel Market, 2024 to 2034.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the Sustainable Aviation Fuel Market, 2024 to 2034, market-leading companies. You will find data, trends and predictions.
Table of Contents
1 Report Overview
- 1.1 Objectives of the Study
- 1.2 Introduction to Sustainable Aviation Fuel Market
- 1.3 What This Report Delivers
- 1.4 Why You Should Read This Report
- 1.5 Key Questions Answered by This Analytical Report
- 1.6 Who is This Report for?
- 1.7 Methodology
- 1.7.1 Market Definitions
- 1.7.2 Market Evaluation & Forecasting Methodology
- 1.7.3 Data Validation
- 1.7.3.1 Primary Research
- 1.7.3.2 Secondary Research
- 1.8 Frequently Asked Questions (FAQs)
- 1.9 Associated Visiongain Reports
- 1.10 About Visiongain
2 Executive Summary
3 Market Overview
- 3.1 Key Findings
- 3.2 Market Dynamics
- 3.2.1 Market Driving Factors
- 3.2.1.1 Government Initiatives Driving Sustainable Aviation Fuel Adoption
- 3.2.1.2 Technological Advancements and Innovation in SAF Processes
- 3.2.1.3 Driving Forces Behind Aviation's Shift to Sustainable Aviation Fuel (SAF) for Environmental Sustainability and Decarbonization Initiatives
- 3.2.2 Market Restraining Factors
- 3.2.2.1 Limited Sustainable Feedstock Availability and High Costs Hinder Sustainable Aviation Fuel (SAF) Market Expansion
- 3.2.2.2 Infrastructure and Distribution Challenges for SAF Production
- 3.2.3 Market Opportunities
- 3.2.3.1 Increasing Investment Opportunities for Sustainable Aviation Fuel (SAF)
- 3.2.3.2 Market Expansion and Collaboration on Sustainable Aviation Fuel (SAF) Supply
- 3.3 COVID-19 Impact Analysis
- 3.4 Porter's Five Forces Analysis
- 3.4.1 Bargaining Power of Suppliers: Moderate to Moderate
- 3.4.2 Bargaining Power of Buyers: High to High
- 3.4.3 Competitive Rivalry: High to High
- 3.4.4 Threat from Substitutes: Low to Moderate
- 3.4.5 Threat of New Entrants: Low to Low
- 3.5 PEST Analysis
- 3.6 SWOT Analysis
4 Sustainable Aviation Fuel Market Analysis by Fuel Type
- 4.1 Key Findings
- 4.2 Fuel Type Segment: Market Attractiveness Index
- 4.3 Sustainable Aviation Fuel Market Size Estimation and Forecast by Fuel Type
- 4.4 Hydrogen Fuel Cell
- 4.4.1 Market Size by Region, 2024-2034 (US$ Million)
- 4.4.2 Market Share by Region, 2024 & 2034 (%)
- 4.5 Biofuel
- 4.5.1 Market Size by Region, 2024-2034 (US$ Million)
- 4.5.2 Market Share by Region, 2024 & 2034 (%)
- 4.6 Power to Liquid
- 4.6.1 Market Size by Region, 2024-2034 (US$ Million)
- 4.6.2 Market Share by Region, 2024 & 2034 (%)
- 4.7 Gas to Liquid
- 4.7.1 Market Size by Region, 2024-2034 (US$ Million)
- 4.7.2 Market Share by Region, 2024 & 2034 (%)
5 Sustainable Aviation Fuel Market Analysis by Blending Capacity
- 5.1 Key Findings
- 5.2 Blending Capacity Segment: Market Attractiveness Index
- 5.3 Sustainable Aviation Fuel Market Size Estimation and Forecast by Blending Capacity
- 5.4 Below 30%
- 5.4.1 Market Size by Region, 2024-2034 (US$ Million)
- 5.4.2 Market Share by Region, 2024 & 2034 (%)
- 5.5 30% to 50%
- 5.5.1 Market Size by Region, 2024-2034 (US$ Million)
- 5.5.2 Market Share by Region, 2024 & 2034 (%)
- 5.6 Above 50%
- 5.6.1 Market Size by Region, 2024-2034 (US$ Million)
- 5.6.2 Market Share by Region, 2024 & 2034 (%)
6 Sustainable Aviation Fuel Market Analysis by Biofuel Manufacturing Technology
- 6.1 Key Findings
- 6.2 Biofuel Manufacturing Technology Segment: Market Attractiveness Index
- 6.3 Sustainable Aviation Fuel Market Size Estimation and Forecast by Biofuel Manufacturing Technology
- 6.4 HFS-SIP
- 6.4.1 Market Size by Region, 2024-2034 (US$ Million)
- 6.4.2 Market Share by Region, 2024 & 2034 (%)
- 6.5 ATJ-SPK
- 6.5.1 Market Size by Region, 2024-2034 (US$ Million)
- 6.5.2 Market Share by Region, 2024 & 2034 (%)
- 6.6 FT-SPK
- 6.6.1 Market Size by Region, 2024-2034 (US$ Million)
- 6.6.2 Market Share by Region, 2024 & 2034 (%)
- 6.7 HEFA-SPK
- 6.7.1 Market Size by Region, 2024-2034 (US$ Million)
- 6.7.2 Market Share by Region, 2024 & 2034 (%)
7 Sustainable Aviation Fuel Market Analysis by Platform
- 7.1 Key Findings
- 7.2 Platform Segment: Market Attractiveness Index
- 7.3 Sustainable Aviation Fuel Market Size Estimation and Forecast by Platform
- 7.4 Commercial Aviation
- 7.4.1 Market Share by Region, 2024 & 2034 (%)
- 7.5 Military Aviation
- 7.5.1 Market Size by Region, 2024-2034 (US$ Million)
- 7.5.2 Market Share by Region, 2024 & 2034 (%)
- 7.6 Business & General Aviation
- 7.6.1 Market Size by Region, 2024-2034 (US$ Million)
- 7.6.2 Market Share by Region, 2024 & 2034 (%)
- 7.7 Unmanned Aerial Vehicle
- 7.7.1 Market Size by Region, 2024-2034 (US$ Million)
- 7.7.2 Market Share by Region, 2024 & 2034 (%)
8 Sustainable Aviation Fuel Market Analysis by Region
- 8.1 Key Findings
- 8.2 Regional Market Size Estimation and Forecast
9 North America Sustainable Aviation Fuel Market Analysis
- 9.1 Key Findings
- 9.2 North America Sustainable Aviation Fuel Market Attractiveness Index
- 9.3 North America Sustainable Aviation Fuel Market by Country, 2024, 2029 & 2034 (US$ Million)
- 9.4 North America Sustainable Aviation Fuel Market Size Estimation and Forecast by Country
- 9.5 North America Sustainable Aviation Fuel Market Size Estimation and Forecast by Fuel Type
- 9.6 North America Sustainable Aviation Fuel Market Size Estimation and Forecast by Blending Capacity
- 9.7 North America Sustainable Aviation Fuel Market Size Estimation and Forecast by Biofuel Manufacturing Technology
- 9.8 North America Sustainable Aviation Fuel Market Size Estimation and Forecast by Platform
- 9.9 U.S. Sustainable Aviation Fuel Market Analysis
- 9.10 Canada Sustainable Aviation Fuel Market Analysis
10 Europe Sustainable Aviation Fuel Market Analysis
- 10.1 Key Findings
- 10.2 Europe Sustainable Aviation Fuel Market Attractiveness Index
- 10.3 Europe Sustainable Aviation Fuel Market by Country, 2024, 2029 & 2034 (US$ Million)
- 10.4 Europe Sustainable Aviation Fuel Market Size Estimation and Forecast by Country
- 10.5 Europe Sustainable Aviation Fuel Market Size Estimation and Forecast by Fuel Type
- 10.6 Europe Sustainable Aviation Fuel Market Size Estimation and Forecast by Blending Capacity
- 10.7 Europe Sustainable Aviation Fuel Market Size Estimation and Forecast by Biofuel Manufacturing Technology
- 10.8 Europe Sustainable Aviation Fuel Market Size Estimation and Forecast by Platform
- 10.9 Germany Sustainable Aviation Fuel Market Analysis
- 10.10 France Sustainable Aviation Fuel Market Analysis
- 10.11 UK Sustainable Aviation Fuel Market Analysis
- 10.12 Italy Sustainable Aviation Fuel Market Analysis
- 10.13 Russia Sustainable Aviation Fuel Market Analysis
- 10.14 Rest of Europe Sustainable Aviation Fuel Market Analysis
11 Asia Pacific Sustainable Aviation Fuel Market Analysis
- 11.1 Key Findings
- 11.2 Asia Pacific Sustainable Aviation Fuel Market Attractiveness Index
- 11.3 Asia Pacific Sustainable Aviation Fuel Market by Country, 2024, 2029 & 2034 (US$ Million)
- 11.4 Asia Pacific Sustainable Aviation Fuel Market Size Estimation and Forecast by Country
- 11.5 Asia Pacific Sustainable Aviation Fuel Market Size Estimation and Forecast by Fuel Type
- 11.6 Asia Pacific Sustainable Aviation Fuel Market Size Estimation and Forecast by Blending Capacity
- 11.7 Asia Pacific Sustainable Aviation Fuel Market Size Estimation and Forecast by Biofuel Manufacturing Technology
- 11.8 Asia Pacific Sustainable Aviation Fuel Market Size Estimation and Forecast by Platform
- 11.9 Japan Sustainable Aviation Fuel Market Analysis
- 11.10 China Sustainable Aviation Fuel Market Analysis
- 11.11 India Sustainable Aviation Fuel Market Analysis
- 11.12 Australia Sustainable Aviation Fuel Market Analysis
- 11.13 South Korea Sustainable Aviation Fuel Market Analysis
- 11.14 Rest of Asia Pacific Sustainable Aviation Fuel Market Analysis
12 Latin America Sustainable Aviation Fuel Market Analysis
- 12.1 Key Findings
- 12.2 Latin America Sustainable Aviation Fuel Market Attractiveness Index
- 12.3 Latin America Sustainable Aviation Fuel Market by Country, 2024, 2029 & 2034 (US$ Million)
- 12.4 Latin America Sustainable Aviation Fuel Market Size Estimation and Forecast by Country
- 12.5 Latin America Sustainable Aviation Fuel Market Size Estimation and Forecast by Fuel Type
- 12.6 Latin America Sustainable Aviation Fuel Market Size Estimation and Forecast by Blending Capacity
- 12.7 Latin America Sustainable Aviation Fuel Market Size Estimation and Forecast by Biofuel Manufacturing Technology
- 12.8 Latin America Sustainable Aviation Fuel Market Size Estimation and Forecast by Platform
- 12.9 Brazil Sustainable Aviation Fuel Market Analysis
- 12.10 Mexico Sustainable Aviation Fuel Market Analysis
- 12.11 Rest of Latin America Sustainable Aviation Fuel Market Analysis
13 MEA Sustainable Aviation Fuel Market Analysis
- 13.1 Key Findings
- 13.2 MEA Sustainable Aviation Fuel Market Attractiveness Index
- 13.3 MEA Sustainable Aviation Fuel Market by Country, 2024, 2029 & 2034 (US$ Million)
- 13.4 MEA Sustainable Aviation Fuel Market Size Estimation and Forecast by Country
- 13.5 MEA Sustainable Aviation Fuel Market Size Estimation and Forecast by Fuel Type
- 13.6 MEA Sustainable Aviation Fuel Market Size Estimation and Forecast by Blending Capacity
- 13.7 MEA Sustainable Aviation Fuel Market Size Estimation and Forecast by Biofuel Manufacturing Technology
- 13.8 MEA Sustainable Aviation Fuel Market Size Estimation and Forecast by Platform
- 13.9 GCC Sustainable Aviation Fuel Market Analysis
- 13.10 South Africa Sustainable Aviation Fuel Market Analysis
- 13.11 Rest of MEA Sustainable Aviation Fuel Market Analysis
14 Company Profiles
- 14.1 Competitive Landscape, 2023
- 14.2 Strategic Outlook
- 14.3 Aemetis, Inc.
- 14.3.1 Company Snapshot
- 14.3.2 Company Overview
- 14.3.3 Financial Analysis
- 14.3.3.1 Net Revenue, 2019-2023
- 14.3.3.2 R&D, 2019-2023
- 14.3.3.3 Segment Market Shares, 2023
- 14.3.4 Product Benchmarking
- 14.3.5 Strategic Outlook
- 14.4 Avfuel Corporation
- 14.4.1 Company Snapshot
- 14.4.2 Company Overview
- 14.4.3 Product Benchmarking
- 14.4.4 Strategic Outlook
- 14.5 Ballard Power Systems
- 14.5.1 Company Snapshot
- 14.5.2 Company Overview
- 14.5.3 Financial Analysis
- 14.5.3.1 Net Revenue, 2019-2023
- 14.5.3.2 Regional Market Shares, 2023
- 14.5.3.3 Segment Market Shares, 2023
- 14.5.4 Product Benchmarking
- 14.5.5 Strategic Outlook
- 14.6 Eni SPA
- 14.6.1 Company Snapshot
- 14.6.2 Company Overview
- 14.6.3 Financial Analysis
- 14.6.3.1 Net Revenue, 2019-2023
- 14.6.3.2 R&D, 2019-2023
- 14.6.3.3 Regional Market Shares, 2023
- 14.6.3.4 Segment Market Shares, 2023
- 14.6.4 Product Benchmarking
- 14.6.5 Strategic Outlook
- 14.7 Fulcrum BioEnergy, Inc.
- 14.7.1 Company Snapshot
- 14.7.2 Company Overview
- 14.7.3 Product Benchmarking
- 14.7.4 Strategic Outlook
- 14.8 Gevo Inc.
- 14.8.1 Company Snapshot
- 14.8.2 Company Overview
- 14.8.3 Financial Analysis
- 14.8.3.1 Net Revenue, 2019-2023
- 14.8.3.2 Segment Market Shares, 2023
- 14.8.4 Product Benchmarking
- 14.8.5 Strategic Outlook
- 14.9 LanzaTech
- 14.9.1 Company Snapshot
- 14.9.2 Company Overview
- 14.9.3 Product Benchmarking
- 14.9.4 Strategic Outlook
- 14.10 Neste Oyj
- 14.10.1 Company Snapshot
- 14.10.2 Company Overview
- 14.10.3 Financial Analysis
- 14.10.3.1 Net Revenue, 2019-2023
- 14.10.3.2 Regional Market Shares, 2023
- 14.10.3.3 Segment Market Shares, 2023
- 14.10.4 Product Benchmarking
- 14.10.5 Strategic Outlook
- 14.11 Northwest Advanced Biofuels, LLC.
- 14.11.1 Company Snapshot
- 14.11.2 Company Overview
- 14.11.3 Product Benchmarking
- 14.11.4 Strategic Outlook
- 14.12 OMV Aktiengesellschaft
- 14.12.1 Company Snapshot
- 14.12.2 Company Overview
- 14.12.3 Financial Analysis
- 14.12.3.1 Net Revenue, 2019-2023
- 14.12.3.2 Regional Market Shares, 2023
- 14.12.3.3 Segment Market Shares, 2023
- 14.12.4 Product Benchmarking
- 14.12.5 Strategic Outlook
- 14.13 Red Rock Biofuels
- 14.13.1 Company Snapshot
- 14.13.2 Company Overview
- 14.13.3 Product Benchmarking
- 14.13.4 Strategic Outlook
- 14.14 SKYNRG
- 14.14.1 Company Snapshot
- 14.14.2 Company Overview
- 14.14.3 Product Benchmarking
- 14.14.4 Strategic Outlook
- 14.15 TotalEnergies SE
- 14.15.1 Company Snapshot
- 14.15.2 Company Overview
- 14.15.3 Financial Analysis
- 14.15.3.1 Net Revenue, 2019-2023
- 14.15.3.2 Regional Market Shares, 2023
- 14.15.3.3 Segment Market Shares, 2023
- 14.15.4 Product Benchmarking
- 14.15.5 Strategic Outlook
- 14.16 Velocys
- 14.16.1 Company Snapshot
- 14.16.2 Company Overview
- 14.16.3 Product Benchmarking
- 14.16.4 Strategic Outlook
15 Conclusion and Recommendations
- 15.1 Concluding Remarks from Visiongain
- 15.2 Recommendations for Market Players
