About Aviation Biofuel
Aviation biofuel is used for aircraft and considered by several to be the primary means by which the aviation sector can reduce their carbon footprint. Of late, leading biofuel investors and producers reveal that they are still struggling to get governments to deliver the right regulatory framework and carbon pricing to ensure aviation biofuels rapid growth across the world. Moreover, in the last couple of years, biofuels have moved from relative obscurity to a point where certain types of fuel have become fully certified for commercial use in up to 50% blends with standard jet fuel and commercial partnerships between airlines and biofuel producers are being established.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.8% |
Several countries government initiatives such as a green drive for environment protection providing a lucrative opportunity for the biofuels sector. Key market players are continuously focusing on the development of biofuels for lesser carbon emission. For instance, United Airlines, Boeing, Honeywell’s UOP, the Chicago Department of Aviation and the Clean Energy Trust announced the formation of the Midwest Aviation Sustainable Biofuels Initiative (MASBI), designed to advance aviation biofuel development in a 12-state region holding significant promise for biomass feedstock, technology development and sustainable commercialization. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Aviation Biofuel market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Honeywell International Inc. (United States), Red Rock Biofuels (United States), Targray Technology International Inc. (Canada), Argent Energy (United Kingdom), Gevo, Inc. (United States) and KFS Biodiesel GmbH & Co. KG (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are PetroSun, Inc. (United States), Shirke Energy (India) and Archer Daniels Midland Company (United States).
Segmentation Overview
AMA Research has segmented the market of Global Aviation Biofuel market by , Application (Civil Aviation and Military Aviation) and Region.
On the basis of geography, the market of Aviation Biofuel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industrial and Municipal Waste, the sub-segment i.e. Jatropha will boost the Aviation Biofuel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Production Technology, the sub-segment i.e. Hydrogenated Vegetable Oil (HVO) will boost the Aviation Biofuel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Feedstock Type, the sub-segment i.e. Sugarcane will boost the Aviation Biofuel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Development is Essential to Increase Aviation Biofuel Availability
Market Growth Drivers:
Supportive Government Policies that Encourage the Rapid Growth of Biofuel Production Globally and Increased Use of Sustainably Derived Biojet is Essential for the Aviation Sector
Challenges:
The Production and Use of Biofuels Produce a Range Of Emissions
Restraints:
Fluctuating Raw Material Prices and High Initial Investment in Refinery Project
Opportunities:
Growing Economic Wealth and Increasing Number of Travellers across the World, especially in the Asian Pacific Region
Market Leaders and their expansionary development strategies
In February 2023, Gevo announced the successful completion of the first commercial delivery of its sustainable aviation fuel (SAF) to airline partners. This marked a significant milestone in the company's efforts to commercialize its biofuel technology.
In August 2021, World Energy announced the launch of its new HOLIFIELD renewable jet fuel. This biofuel is made from waste animal fats and oils, and it is designed to be a low-carbon alternative to traditional jet fuel.
Key Target Audience
Aviation Biofuel Producers, Distributors/Suppliers, Technology Providers, Research and Consulting Firms, Government and Private Organisations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.