Sustainable aviation fuel (SAF) is a distinct fuel type intended to be utilized in aircrafts and simultaneously boost the aircrafts’ efficiency. SAFs are produced from sustainable feedstocks and are quite analogous to traditional fossil jet fuel in terms of its chemistry. Rise in applications of SAFs led to decrease in carbon emissions in comparison to traditional jet fuel as it changes fuel’s lifecycle.
The aviation industry is intense on cutting the carbon footprints down to attain a sustainable environment and fulfill the strict regulatory emissions standards. The global sustainable aviation fuel market is projected to see considerable growth during coming period owing to increased count of airline passengers, escalated air transport, and elevated disposable income. Also, the production of safe and environment-friendly aviation lubricants and the increasing stipulation for low-density lubricants to decrease weight are other factors expected to offer ample growth avenues for sustainable aviation fuel market in near future. Also, increased synthetic lubricants consumption is deemed to boost the market expansion as these lubricants offer improved energy efficiency, thermal stability, oxidation resistance, and better performance in severe situations.
The global sustainable aviation fuel market can be bifurcated based on platform, aircraft type, fuel type, and region. The market, based on fuel type, is segregated into hydrogen fuel, power to liquid fuel, and biofuel. The market, based on aircraft type, is categorized into rotorcraft, fixed wings, and others. the market, by platform, is distinguished into military aviation, commercial aviation, unmanned aerial vehicle, and business & general aviation.
Regionally, the global sustainable aviation fuel market is projected to be ruled by North America during the forecast period with highest share. The region is determined of using renewable aviation fuel through several initiatives to fulfill the rising need for decreasing carbon footprints owing to growing air passengers & air traffic in countries like Canada and the US. Further, this regional is also estimated to become among the robust demand centers for SAF owing to initiatives taken to decarbonize aviation emissions and supportive policies, thereby boosting its regional market expansion.
The prominent players active in the global sustainable aviation fuel market consist of Avfuel Corporation, Aemetis, Inc., Gevo, Fulcrum Bioenergy, Neste, Lanzatech, Sasol, Preem AB, World Energy, and SkyNRG, among others. To cite, in Oct 2021, Eni, Italian oil & gas firm, began production of substitute SAF to back the aviation sector’ decarbonization in the short to medium term. This fuel will be generated utilizing residues and waste, with the aim of aligning with the firm’s motto to discontinue using palm oil from 2023.