Aviation Biofuels Market Size, Share, Trends, Growth 2032

Aviation Biofuels Industry Prospective:

The global aviation biofuels market size was worth around 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.

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In order to give the users of this report a comprehensive view of the aviation biofuels market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Aviation Biofuels Market: Growth Drivers

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. Aviation biofuels were first used in July 2011. Since then, some global airlines are using biofuels as a substitute for conventional fuels. Biofuels are a medium to fight air pollution to reduce the effects of global warming. Currently, global warming is the rising concern among various regulatory bodies across the world. Major companies are now concentrating on developing and producing second-generation aviation biofuels that will be sustainable in nature. Additionally, aviation biofuels are technically viable and are used by various airlines.

The global aviation biofuels market is likely to grow significantly over the estimated timeframe. In order to reduce carbon footprints, aviation fuels were introduced in the year 2011. The aviation industry uses crude oil extracted from kerosene as jet fuel. The consumption of conventional biofuels leads to carbon emissions and thus causing air pollution. The air pollution significantly contributes to global warming, which is a primary factor boosting the aviation biofuels market development.

Furthermore, the flourishing aviation sector is also stimulating this market’s growth. The number of aircraft transportation has grown in recent years, as people nowadays prefer to reach their destinations within a limited amount of time. However, strict regulations for maintaining the standard specifications while generating the aviation biofuel may put a hindrance on the global aviation biofuels market growth.

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The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to regions.

Aviation Biofuels Market: Segmentation

The study provides a decisive view of the aviation biofuels market by segmenting the market based on production technology, application, and region.

Based on production technology, the global aviation biofuels market includes Fischer-tropsch and hydrogenated vegetable oil.

On the basis of application, the global aviation biofuels market is categorized into commercial aviation and military aviation.

Aviation Biofuels Market: Report Scope

Aviation Biofuels Market: Regional Analysis

The regional segment includes the historical and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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
• Middle East and Africa