Facts and Factors Market Research has published a new report titled “Renewable Aviation Fuel Market By Type (Fischer-Tropsch (FT) and Hydro Processed Fatty Acids & Esters) and By Application (Commercial and Defense): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the global renewable aviation fuel market is predicted to be valued at approximately USD 15,921 million in 2018 and is expected to reach a value of around USD 30,143 million by 2027, at a CAGR of around 7.37 % between 2019 and 2027.
Renewable aviation fuel is also termed as aviation biofuel and finds massive application in aircraft. It is also considered as the key means of minimizing the carbon footprint of the aviation industry. Moreover, biofuels were approved for commercial usage in July 2011 post a multi-year technological evaluation by airplane manufacturers, engine creators, and oil firms.
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This Free report sample includes:
- A brief introduction to the research report.
- Graphical introduction of the regional analysis.
- Top players in the market with their revenue analysis.
- Selected illustrations of market insights and trends.
- Example pages from the report.
- FnF research methodology
Increase in the aviation fuel prices to propel the market surge over the forecast timeline
The growth of the renewable aviation fuel industry during the period from 2019 to 2027 is due to a rise in the costs of aviation fuels. Moreover, growing concerns over the need to reduce greenhouse gas emissions will impel the market trends. Apart from this, the escalating need for reducing the overall manufacturing costs of aviation fuel will impel the expansion of the renewable aviation fuel industry over the period from 2019 to 2027. Nevertheless, the restricted access to feedstock will obstruct the expansion of the renewable aviation fuel industry over the forecast timeline. Moreover, the high costs of producing these renewable aviation fuels and strict laws regulating its usage will further pose a challenge towards the expansion of the market over the forecast timeline. However, the increase in the crude oil costs and implementation of strict environmental laws by the government is likely to provide an impetus to the growth of the renewable aviation fuel industry over the forecast timeline.
Furthermore, growing acceptance of the product across the globe due to high funding in airport infrastructure will drive the market expansion over the forecast period.
Hydro Processed Fatty Acids & Esters to dominate the type segment by 2027
The growth of the Hydro Processed Fatty Acids & Esters segment over the forecast timeframe is attributed to the massive demand for the type in the manufacture of renewable aviation fuel.
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Commercial segment to lead the application landscape over the forecast period
The growth of the segment during the forecast timeline is owing to the escalating popularity of aviation fuel as well as the growing need for curbing carbon emissions in the atmosphere.
North America to contribute majorly towards the overall market surge by 2027
The growth of the regional market over the forecast timespan is due to favorable laws enacted by the government of the region aiding the manufacture of renewable aviation fuels. Apart from this, the region is also a key business destination for renewable aviation fuel activities as well as aviation fuel production.
Apparently, the growing focus of the U.S. government on producing bio-jet fuels for defense or military purposes will prompt the market progression in the region.
Some of the key players in the market include Amyris Inc., Lanzatech Inc., Honeywell International, Euglena Co., Ltd., Neste Oyj, Total S.A., Gevo Inc., Fulcrum Bioenergy Inc., Red Rock Biofuels LLC, Sg Preston Company, and Swedish Biofuels Ab.
This report segments the Renewable Aviation Fuel market as follows:
Renewable Aviation Fuel Market: By Type Segment Analysis
- Fischer-Tropsch (FT)
- Hydro Processed Fatty Acids & Esters
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Renewable Aviation Fuel Market: By Application Segment Analysis
Renewable Aviation Fuel Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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