This report describes and explains the sustainable aviation fuel market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global sustainable aviation fuel market reached a value of nearly $2.18 billion in 2024, having grown at a compound annual growth rate (CAGR) of 64.41% since 2019. The market is expected to grow from $2.18 billion in 2024 to $19.03 billion in 2029 at a rate of 54.23%. The market is then expected to grow at a CAGR of 37.92% from 2029 and reach $94.97 billion in 2034.
Growth in the historic period resulted from increasing disposable income, increased air traffic, global expansion of aviation industry and awareness of environmental sustainability. Factors that negatively affected growth in the historic period was limited availability of high production costs.
Going forward, rapid urbanization, strong economic growth, regulatory support and government policies, environmental regulations and net-zero goals and increase in adoption of biofuel will drive the growth. Factor that could hinder the growth of the sustainable aviation fuel market in the future include limited production capacity.
The global sustainable aviation fuel market is fairly concentrated, with large players in the market. The top ten competitors in the market made up to 29.17% of the total market in 2023. The market concentration can be attributed to the presence of few large players in different geographies. Neste Oyj was the largest competitor with a 5.99% share of the market, followed by Montana Renewables with 3.98%, BP plc with 3.62%, World Energy Inc. with 3.51%, TotalEnergies SE with 3.03%, Eni S.p.A. with 2.57%, AVFUEL CORPORATION with 2.33%, Shell plc with 1.86%, Chevron Renewable Energy Group (REG) with 1.67% SkyNRG BV. with 0.62%.
Western Europe was the largest region in the sustainable aviation fuel market, accounting for 52.87% or $1.15 billion of the total in 2024. It was followed by North America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the sustainable aviation fuel market will be Asia Pacific and Africa where growth will be at CAGRs of 62.92% and 62.06% respectively. These will be followed by Middle East and Eastern Europe where the markets are expected to grow at CAGRs of 61.37% and 58.71% respectively.
The sustainable aviation fuel market is segmented by fuel type into biofuel, power-to-liquid, gas-to-liquid and hydrogen fuel. The biofuel market was the largest segment of the sustainable aviation fuel market segmented by fuel type, accounting for 72.50% or $1.58 billion of the total in 2024. Going forward, the biofuel segment is expected to be the fastest growing segment in the sustainable aviation fuel market segmented by fuel type, at a CAGR of 56.94% during 2024-2029.
The sustainable aviation fuel market is segmented by blending capacity into blow 30%, 30% To 50% and above 50%. The 30% To 50% market was the largest segment of the sustainable aviation fuel market segmented by blending capacity, accounting for 53.04% or $1.15 billion of the total in 2024. Going forward, the 30% To 50% segment is expected to be the fastest growing segment in the sustainable aviation fuel market segmented by blending capacity, at a CAGR of 57.53% during 2024-2029.
The sustainable aviation fuel market is segmented by platform into commercial aviation, military aviation, business and general aviation and unmanned aerial vehicles. The commercial aviation market was the largest segment of the sustainable aviation fuel market segmented by platform, accounting for 70.98% or $1.54 billion of the total in 2024. Going forward, the unmanned aerial vehicles segment is expected to be the fastest growing segment in the sustainable aviation fuel market segmented by platform, at a CAGR of 61.74% during 2024-2029.
The top opportunities in the sustainable aviation fuel market segmented by fuel type will arise in the biofuel segment, which will gain $13.47 billion of global annual sales by 2029. The top opportunities in the sustainable aviation fuel market segmented by blending capacity will arise in the 30% to 50% segment, which will gain $10.06 billion of global annual sales by 2029. The top opportunities in the sustainable aviation fuel market segmented by platform will arise in the commercial aviation segment, which will gain $12.53 billion of global annual sales by 2029. The sustainable aviation fuel market size will gain the most in UK at $2.04 billion.
Market-trend-based strategies for the sustainable aviation fuel market include adopting strategic partnerships approach to develop advanced sustainable technologies, are focusing on strategic investments to enhance the production capacity, develop advanced fuel technologies, development of innovative solutions, such as ethanol-based SAF, developing innovation with tools such the SAF Dashboard, innovating production processes, such as advanced bio-refining technologies and electrofuels and leverage complementary resources, share technology and expertise.
Player-adopted strategies in the sustainable aviation fuel market include focus on enhancing its operational capabilities through the launch of comprehensive solution, strengthening its market position through strategic mergers and acquisition and focus on strategic partnership for collective procurement effort to achieve net zero climate impact.
To take advantage of the opportunities, the analyst recommends the sustainable aviation fuel companies to focus on strategic partnerships for innovation and growth, focus on strategic investments for SAF expansion, focus on ethanol-based SAF innovation, focus on real-time monitoring for SAF adoption, focus on the biofuel segment for rapid growth, expand in emerging markets, continue to focus on developed markets, focus on expanding distribution through strategic partnerships, focus on competitive pricing with incentives, focus on industry partnerships for credibility, focus on data-driven sustainability messaging and focus on educating airline decision-makers.
The global sustainable aviation fuel market reached a value of nearly $2.18 billion in 2024, having grown at a compound annual growth rate (CAGR) of 64.41% since 2019. The market is expected to grow from $2.18 billion in 2024 to $19.03 billion in 2029 at a rate of 54.23%. The market is then expected to grow at a CAGR of 37.92% from 2029 and reach $94.97 billion in 2034.
Growth in the historic period resulted from increasing disposable income, increased air traffic, global expansion of aviation industry and awareness of environmental sustainability. Factors that negatively affected growth in the historic period was limited availability of high production costs.
Going forward, rapid urbanization, strong economic growth, regulatory support and government policies, environmental regulations and net-zero goals and increase in adoption of biofuel will drive the growth. Factor that could hinder the growth of the sustainable aviation fuel market in the future include limited production capacity.
The global sustainable aviation fuel market is fairly concentrated, with large players in the market. The top ten competitors in the market made up to 29.17% of the total market in 2023. The market concentration can be attributed to the presence of few large players in different geographies. Neste Oyj was the largest competitor with a 5.99% share of the market, followed by Montana Renewables with 3.98%, BP plc with 3.62%, World Energy Inc. with 3.51%, TotalEnergies SE with 3.03%, Eni S.p.A. with 2.57%, AVFUEL CORPORATION with 2.33%, Shell plc with 1.86%, Chevron Renewable Energy Group (REG) with 1.67% SkyNRG BV. with 0.62%.
Western Europe was the largest region in the sustainable aviation fuel market, accounting for 52.87% or $1.15 billion of the total in 2024. It was followed by North America, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the sustainable aviation fuel market will be Asia Pacific and Africa where growth will be at CAGRs of 62.92% and 62.06% respectively. These will be followed by Middle East and Eastern Europe where the markets are expected to grow at CAGRs of 61.37% and 58.71% respectively.
The sustainable aviation fuel market is segmented by fuel type into biofuel, power-to-liquid, gas-to-liquid and hydrogen fuel. The biofuel market was the largest segment of the sustainable aviation fuel market segmented by fuel type, accounting for 72.50% or $1.58 billion of the total in 2024. Going forward, the biofuel segment is expected to be the fastest growing segment in the sustainable aviation fuel market segmented by fuel type, at a CAGR of 56.94% during 2024-2029.
The sustainable aviation fuel market is segmented by blending capacity into blow 30%, 30% To 50% and above 50%. The 30% To 50% market was the largest segment of the sustainable aviation fuel market segmented by blending capacity, accounting for 53.04% or $1.15 billion of the total in 2024. Going forward, the 30% To 50% segment is expected to be the fastest growing segment in the sustainable aviation fuel market segmented by blending capacity, at a CAGR of 57.53% during 2024-2029.
The sustainable aviation fuel market is segmented by platform into commercial aviation, military aviation, business and general aviation and unmanned aerial vehicles. The commercial aviation market was the largest segment of the sustainable aviation fuel market segmented by platform, accounting for 70.98% or $1.54 billion of the total in 2024. Going forward, the unmanned aerial vehicles segment is expected to be the fastest growing segment in the sustainable aviation fuel market segmented by platform, at a CAGR of 61.74% during 2024-2029.
The top opportunities in the sustainable aviation fuel market segmented by fuel type will arise in the biofuel segment, which will gain $13.47 billion of global annual sales by 2029. The top opportunities in the sustainable aviation fuel market segmented by blending capacity will arise in the 30% to 50% segment, which will gain $10.06 billion of global annual sales by 2029. The top opportunities in the sustainable aviation fuel market segmented by platform will arise in the commercial aviation segment, which will gain $12.53 billion of global annual sales by 2029. The sustainable aviation fuel market size will gain the most in UK at $2.04 billion.
Market-trend-based strategies for the sustainable aviation fuel market include adopting strategic partnerships approach to develop advanced sustainable technologies, are focusing on strategic investments to enhance the production capacity, develop advanced fuel technologies, development of innovative solutions, such as ethanol-based SAF, developing innovation with tools such the SAF Dashboard, innovating production processes, such as advanced bio-refining technologies and electrofuels and leverage complementary resources, share technology and expertise.
Player-adopted strategies in the sustainable aviation fuel market include focus on enhancing its operational capabilities through the launch of comprehensive solution, strengthening its market position through strategic mergers and acquisition and focus on strategic partnership for collective procurement effort to achieve net zero climate impact.
To take advantage of the opportunities, the analyst recommends the sustainable aviation fuel companies to focus on strategic partnerships for innovation and growth, focus on strategic investments for SAF expansion, focus on ethanol-based SAF innovation, focus on real-time monitoring for SAF adoption, focus on the biofuel segment for rapid growth, expand in emerging markets, continue to focus on developed markets, focus on expanding distribution through strategic partnerships, focus on competitive pricing with incentives, focus on industry partnerships for credibility, focus on data-driven sustainability messaging and focus on educating airline decision-makers.
Major Market Trends
- Advancing Sustainable Technologies Through Collaboration
- Strategic Investments Drive Sustainable Aviation Fuel Production
- Revolutionizing Aviation With Lower-Carbon Jet Fuel Alternatives
- Innovative Real-Time Tracking Tool for Sustainable Aviation Fuel Adoption
- Advancements in Bio-Refining Technologies to Enhance Fuel Production
- Strategic Partnerships and Acquisitions Among Market Players
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Sustainable Aviation Fuel Market - Macro-Economic Scenario
9 Global Sustainable Aviation Fuel Growth Analysis and Strategic Analysis Framework
10 Global Sustainable Aviation Fuel Market Segmentation
11 Sustainable Aviation Fuel Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Recent Developments in the Sustainable Aviation Fuel (SAF) Market
25 Opportunities and Strategies
26 Sustainable Aviation Fuel Market, Conclusions and Recommendations
27 Appendix
Executive Summary
Sustainable Aviation Fuel Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global sustainable aviation fuel market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for sustainable aviation fuel? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The sustainable aviation fuel market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider sustainable aviation fuel market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by fuel type, by blending capacity and by platform.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - the report provides an analysis of the interest rates, inflation, geopolitics and covid and recovery on the market.
- Growth Analysis and Strategic Analysis Framework- Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Regional and Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by fuel type, by blending capacity and by platform in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Recent Developments- Information on recent developments in the market covered in the report.
- Market Opportunities and Strategies Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations This section includes recommendations for sustainable aviation fuel providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) by Fuel Type: Biofuel; Power-To-Liquid; Gas-To-Liquid; Hydrogen Fuel2) by Blending Capacity: Below 30%; 30% to 50%; Above 50%
3) by Platform: Commercial Aviation; Military Aviation; Business and General Aviation; Unmanned Aerial Vehicles
Key Companies Profiled: Neste Oyj; Montana Renewables; BP plc; World Energy Inc.; TotalEnergies SE
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Time Series: Five years historic and ten years forecast..
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; sustainable aviation fuel indicators comparison..
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Sustainable Aviation Fuel market report include:- Neste Oyj
- Montana Renewables
- BP plc
- World Energy Inc.
- TotalEnergies SE
- Eni S.p.A.
- AVFUEL CORPORATION
- Shell plc
- Chevron Renewable Energy Group (REG)
- SkyNRG BV
- SK Energy
- HD Hyundai Oilbank
- Marubeni Coordinates
- DHL Express
- Cosmo Oil Marketing Co., Ltd
- Indian Oil Corporation Ltd. (IOCL)
- Airbus SE
- BP Plc
- LanzaJet, Inc.
- Qantas
- Virgin Australia
- Zhejiang Jiaao Enprotech Stock Co., Ltd.
- China Energy Engineering Group Co., Ltd.
- Sinopec
- Euglena Co., Ltd.
- Marubeni Corporation
- Sumitomo Corporation
- Petronas
- Malaysia Aviation Group
- Singapore Airlines
- Bangchak Corporation
- Amadeus IT Group
- SkyNRG
- Air France-KLM
- Caphenia
- VTTI
- Galp Energia
- Repsol
- Cepsa
- IAG (International Airlines Group)
- Travel Places Limited
- Enilive S.p.A
- OMV
- Austrian Airlines
- Unipetrol
- MOL Group
- LOT Polish Airlines
- PKN Orlen
- Rompetrol
- Slovnaft Petrol d.d.
- TAROM
- Aeroflot
- Gazprom Neft
- World Energy Inc.
- Air Company
- Honeywell International Inc.
- KBR, Inc.
- Gevo Inc.
- Lummus Technology
- Cap Clean Energy
- LanzaJet Inc.
- Fulcrum BioEnergy
- Alder Fuels
- BioVeritas LLC.
- WestJet Airlines Ltd.
- Azure Sustainable Fuels Corp
- Expander Energy
- Azzera
- Agrisoma Biosciences
- Shell plc.
- Exxon Mobil Corporation
- Petrobras Brasileiro S.A.
- Refinaria de Petróleo Riograndense SA (Riograndense)
- LATAM Airlines Group
- BSBIOS
- Petrol Ofisi Group
- Pegasus Airlines
- Alfanar Energy
- QatarEnergy
- ADNOC (Abu Dhabi National Oil Company)
- ENOC Group (Emirates National Oil Company)
- Emirates Airline
- Qatar Airways
- The Saudi Aramco Total Refining and Petrochemical Company (SATORP)
- Saudi Arabian Airlines
- Sasol
- PetroSA
- Kenya Airways
- EgyptAir
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 334 |
| Published | May 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 2.18 Billion |
| Forecasted Market Value ( USD | $ 94.97 Billion |
| Compound Annual Growth Rate | 45.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 90 |
