Sustainable Aviation Fuel Market to be Dominated by HEFA through 2028
Increasing need of reduction in carbon emission and
advanced innovations coupled with increasing performance of aircraft is driving
the growth of sustainable aviation fuel market.
According to the TechSci
Research report, "Sustainable Aviation Fuel Market-Global Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028F",
the market is expected to register a rapid CAGR by 2028.The market of
sustainable aviation fuel will increase because with the focus on reducing the carbon
emission in the environment and with the usage of this fuel will increase the
performance of aircrafts as its burn cleaner in aircraft engines.
Sustainable aviation fuel is
a biofuel with qualities like conventional jet fuel but with similar carbon
footprints that is used to power aeroplanes. Sustainable aviation fuel has the
potential to significantly reduce life cycle greenhouse gas emissions when
compared to traditional jet fuels, depending on the feedstock and production
processes used. With the potential to minimise reliance
on conventional aviation fuel, sustainable aviation fuel has up to 85% lower
CO2 emissions over its lifetime. Between 2021 and 2035, it is predicted that Carbon
Offsetting and Reduction Scheme for International Association will reduce CO2
emissions by about 2.5 billion metric tonnes.
By 2050, aviation industry
businesses plan to significantly reduce their net CO2 emissions. Airlines which
are IATA members agreed to cut their carbon emissions to zero by the year 2050
in October 2021. At the Shell Energy and Chemicals Park Rotterdam in the
Netherlands, Shell PLC stated in September 2021 that a Hydrogen Esters and Fatty
Acids plant with an annual capacity of 820,000 tonnes would be built. When it
is finished, the facility will probably rank among the largest in Europe to
produce waste-derived renewable diesel and sustainable aviation fuel (SAF).
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thanXX market data Figures spread through 110 Pages
and an in-depth TOC on "Sustainable Aviation Fuel Market"
The
global sustainable aviation fuel market is segmented on the basis of fuel type,
technology type, application type, and region.
Based
on fuel type, the market is further divided into bio fuel, hydrogen fuel and power
to liquid fuel . The
market has been divided into four categories based on technology:
Fischer-Tropsch, Hydroprocessed Esters and Fatty Acids (HEFA), Synthesisized
Iso-Paraffinic (SIP) and Alcohol-to-Jet (AJT). The global market was controlled
by the HEFA sector.
The HEFA route uses a fatty feedstock,
such as vegetable oils or waste fats, which first passes through an oxygenation
reaction and then is added to hydrogen so that the fatty molecules can be
broken down into hydrocarbons. In terms of end users, the commercial airline
sector is anticipated to experience the quickest rate of growth for aviation
fuel due to the industry's total infrastructure investment, increased air
traffic to accommodate more passengers, and rapid economic development.
The propensity for travel to industrialised
nations and the rising per capita income of emerging nations have influenced
demand patterns for aviation and contributed to the explosive increase in global
air passenger traffic. The increased need for logistics around the globe is
being fueled by commercial opportunities created by improved air connectivity
and expanding industrial output of aviation fuel. On the basis of region, North
America is expected to dominate the market, with Europe and Asia- Pacific providing
the growing opportunities in the market.
Some of the major players operating in the
South America Bus & Coach Market include:
- Shell PLC
- Neste Oyj
- SkyNRG
- Gevo Inc.
- AV Fuel Corporation
- Aematis Inc.
- Fulcrum BioEnergy
Inc.
- LanzaTech Inc.
- Velocys, Inc.
- Red Rock Biofuels
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“With
the concern toward the environmental situation, many companies are investing in the research and development for
producing sustainable aviation fuel. With rise in numbers of airline
passengers, and increased disposal income the air travel is preferred mode of
transport. "The
use of sustainable aviation fuel is generally acknowledged as the most
practical and trustworthy alternative fuel solution in terms of socio-economic
advantages. Sustainable aviation fuel
also lessens the environmental impact of the aviation industry now and in the
future, -."said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“Global Sustainable Aviation Fuel Market, By Fuel Type (Biofuel, Hydrogen fuel, Power To
Liquid Fuel), By Technology Type (Fischer-Tropsch, Hydroprocessed Esters and
Fatty Acids (HEFA), Synthetic Iso-Paraffinic (SIP) and Alcohol-to-Jet (AJT), By
Application (Commercial, Defense), By
region, Competition Forecast & Opportunities, 2017- 2027F, has evaluated
the future growth potential of Global Sustainable Aviation Fuel Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Sustainable Aviation Fuel Market.
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