Aviation Biofuels Market Is Expected To Reach $298.32 Billion By 2032

Zion Market Research has published a new report titled “Aviation Biofuels Market by Production Technology (Fischer-Tropsch and Hydrogenated Vegetable Oil) and by Application (Military Aviation and Commercial Aviation), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032”. According to the report, the global aviation biofuels market was valued at approximately USD 102.04 billion in 2023 and is predicted to grow to around USD 298.82 billion by 2032 with a compound annual growth rate (CAGR) of roughly 12.68% between 2024 and 2032.

Aviation biofuel is a clean biofuel form that is used in the aviation industry. Aviation biofuel is often considered as the means to minimize carbon emissions in the atmosphere. Biofuels are considered as first-generation fuels. They are mainly produced from anaerobic digestion. The second-generation biofuels are mainly produced from non-food crops, such as organic waste, biomass crops, wood, and food crop waste. The third-generation biofuels are produced from engineered energy crops, such as algae, as its feedstock and biomass. Algae-based biofuels are expected to be manufactured into a wide range of fuels, such as jet fuel, diesel, or petrol. In 2017, the aviation industry emitted around 858 million tons of carbon dioxide, accounting for around 2% of all human-induced carbon emissions.

Thus, to reduce the carbon emissions by 2050 coupled with the goal of carbon-neutral growth from 2020, the aviation industry will introduce Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) in 2021. This, in turn, will provide potential growth opportunities for the aviation biofuels market. However, strict regulations for maintaining the standard specifications while generating the aviation biofuel may put a hindrance on the global aviation biofuels market growth.

Browse the full “Aviation Biofuels Market by Production Technology (Fischer-Tropsch and Hydrogenated Vegetable Oil) and by Application (Military Aviation and Commercial Aviation), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 – 2032?” Report at https://www.zionmarketresearch.com/report/aviation-biofuel-market

Based on production technology, the global aviation biofuels market includes Fischer-tropsch and hydrogenated vegetable oil. The hydrogenated vegetable oil segment is expected to dominate the global market, as this oil is used as a primary source or raw material for the production and generation of first-generation aviation biofuel. On the basis of application, the global aviation biofuels market is categorized into commercial aviation and military aviation. The commercial aviation segment is expected to dominate the global market, owing to the increasing acceptance of biofuels as a substitute for conventional fuels.

By region, North America held a major share of the global aviation biofuels market in 2018 and is expected to continue with its regional authority in the upcoming years as well. This regional growth can be attributed to the rising clean energy demand and increasing emission reduction measures.

Moreover, the U.S. is a major hub for the production of biofuels, and the majority of the biofuel is consumed by military aviation. The Asia Pacific region is expected to provide significant opportunities for the global aviation biofuels market growth in the future, owing to the ongoing developments related to the commercialization of aircraft biofuels. Most of the aviation biofuels are produced from industrial and municipal waste in the region.

Aviation Biofuels Market: Competitive Analysis

The global aviation biofuels market is dominated by players like:

• Red Rock Biofuels
• Vega Biofuels
• GEVO
• PetroSun, Inc
• Archer Daniels Midland Company
• Honeywell International Inc
• Targray Technology International Inc
• Argent Energy
• KFS Biodiesel GmbH & Co. KG
• Shirke Energy

This report segments the global aviation biofuels market into:

Global Aviation Biofuels Market: Production Technology Analysis

• Fischer-Tropsch
• Hydrogenated Vegetable Oil

Global Aviation Biofuels Market: Application Analysis

• Military Aviation
• Commercial Aviation

Global Aviation Biofuels Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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