The Bio-Jet Fuels Market is divided by Type, and by Application. Players, stakeholders, and other contributors in the international Bio-Jet Fuels market. It will be able to gain the upper hand as they use the report as a powerful resource. This Bio-Jet Fuels Market report divides the global Bio-Jet Fuels market comprehensively and delivers the closest approach of the profits for the overall market and the sub-segments across different verticals and regions. This report helps stakeholders understand the pulse of the Bio-Jet Fuels market and gives them with knowledge on key market drivers, limitations, challenges, and opportunities. Moreover, this report will help stakeholders to understand opponents better and gain more insights to better their position in their industries.

The global Bio-Jet Fuels market size was estimated at USD 564.14 million in 2023 and is projected to reach USD 15478.16 million in 2030 at a CAGR of 60.50% during the forecast period 2023-2030.

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Biojet fuel, or aviation turbine fuel (ATF), is a special form of petroleum-based fuel used to power jet and turbo-engined aircraft. Jet A1 and jet A are the two main jet fuels used by commercial airlines. The need to develop sustainable green energy is growing significantly worldwide. The majority of carbon dioxide emissions come from the burning of conventional fuel used in the aviation industry. These greenhouse gases contribute to global warming and ocean acidification. From the point of view of sustainable development, biofuel is a promising alternative to traditional jet fuel. About 60-70% of CO2 emissions are caused by flights using conventional jet fuel. Therefore, it is important to increase the use of biofuels in aviation.

The growth of the global Bio-Jet Fuels market is mainly driven by these key factors such as research and development initiatives to reduce carbon emissions, government initiatives towards the use of biofuels are expected to drive the growth of the global bio-aviation fuel market. In addition, reliability and maintainability are important factors for the success of commercialization of biofuels in the aviation industry, especially in commercial aviation. However, due to long storage, slow biomass degradation process, etc., biofuel oxidation is expected to limit the market growth. In addition, biofuels can provide valuable economic opportunities for communities that can develop new sources of income, especially in developing economies. Such market opportunities for biofuels will increase demand in the near term.

OVID-19 had a huge impact on the world's economic activity, and individuals, organizations, governments and companies have had to adapt to the challenges of the crisis. Air travel restrictions in various regions for domestic and international flights had resulted in idle air of planes worldwide. Like many other sectors, the sustainable aviation fuel industry was disproportionately affected by the COVID-19 pandemic, as production activity is delayed across industries. In addition, many older and less efficient aircraft that were parked as part of the downsizing are not returning to service. However, most of the industry have delayed purchasing new aircraft with technological improvements until demand strengthens, airline solvency is assured, and jet fuel prices force the addition of fuel-saving emerging technologies to the fleet.

Key Findings

·         The technology segment is further fragmented into First Generation, Second Generation, Third Generation, and Fourth Generation. The second-generation segment dominates the global bio jet fuels market. The production of biodiesel in many international locations has helped manufacturers to reduce their dependence on foreign oil supplies because it is produced in large quantities and can be used in any diesel engine without changing the engine or gasoline. system Biodiesel is becoming an affordable option mainly due to fluctuations in the prices of petroleum-based products, which are projected to stimulate the growth of the second-generation biofuels market.

·         The type segment is further bifurcated into Hydrogenated Vegetable Oil (HVO) and Fischer-Tropsch (FT). The hydrogenated vegetable oil (HVO) segment dominates the global bio jet fuels market. Increased awareness among individuals about the depletion of natural fossil fuel resources and the availability of alternative environmentally friendly fuels is increasing the demand for the bio-aviation fuel market. The availability of raw materials and unused waste as raw materials positively influences the development of hydrogenated vegetable oil.

·         The application segment is further bifurcated into Commercial, Military and Private. The commercial segment dominates the global biofuels market. The rapid expansion of commercial aviation, driven by the rapid development of developing countries around the world, greatly affects the demand for conventional fuel. To meet the increasing demand caused by global warming, bio-reactive fuels have been used, which are a sustainable fuel with a lower environmental impact than conventional fuel.

·         The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period.

Regional Analysis

North America to Dominate the Market

North America is estimated to account for the largest market share during the forecast period due to the increasing expansion of the commercial airlines and the low cost of the air transportation in the developed countries led to surge in the carbon emissions due to aviation sector. Thereore the need to use bio-fuels is growing at a really fast pace.

Key Players

·         Archer Daniels Midland Company

·         Argent Energy

·         GEVO

·         Honeywell International Inc.

·         KFS Biodiesel GmbH & Co KG

·         Petrosun, Inc.

·         Red Rock Biofuels

·         Shirke energy

·         Targray Technology International Inc.

·         Vega Biofuels

·         Virent Inc.

·         Fulcrum BioEnergy, Inc

·         Neste Oil Corporation

·         AltAir Paramont LLC

·         S.G. Preston Company

·         SkyNRG BV

·         Total S.A.

·         Sundrop Fuels, Inc

·         Hypoint, Inc

·         ZeroAvia, Inc

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Recent Developments

·         In February 2022, Engie SA and the U.S. engineering company Infinium Holdings announced a US$ 500-million project to produce renewable aviation and maritime fuels in northern France. The final investment decision for the project is planned for the end of 2023, with commercial operations expected to start in 2026.

·         In February 2022, Boeing announced a supply agreement for two million gallons of blended renewable aviation fuel with EPIC Fuels to power its commercial operations in Washington state and South Carolina by the end of 2022.

Reasons to Acquire

·         Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.

·         Gain authentic and granular data access for the Bio-Jet Fuels Market to understand the trends and the factors involved in changing market situations.

·         Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.

·         In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Table of Contents

The Bio-Jet Fuels Market is segmented into various segments such as feedstock, technology, type, application and region:

Based on Feedstock

·         Agriculture Crops

·         Aquaculture Crops

·         Energy Crops

·         Multiple Solid Waste

·         Others

Based on the technology

·         First Generation

·         Second Generation

·         Third Generation

·         Fourth Generation

Based on the type

·         Hydrogenated Vegetable Oil

·         Fisher-Tropsch

Based on application

·         Commercial

·         Military

·         Private

·         Based on region

Asia Pacific

·         Japan

·         China

·         India

·         Australia

·         South Korea

·         Vietnam

·         New Zealand

·         Philippines

·         Thailand

·         Malaysia

·         Hong Kong

·         Taiwan

·         Singapore

·         Indonesia

·         Sri Lanka

·         Rest of Asia-Pacific

North America

·         U.S.

·         Canada

·         Mexico

Europe

·         Germany

·         U.K.

·         France

·         Italy

·         Spain

·         Sweden

·         Austria

·         Finland

·         Belgium

·         Turkey

·         Russia

·         Poland

·         Hungary

·         Czech Republic

·         Switzerland

·         Netherlands

·         Rest of Europe

South America

·         Brazil

·         Argentina

·         Chile

·         Colombia

·         Rest of South America

Middle East & Africa

·         South Africa

·         U.A.E.

·         Saudi Arabia

·         Oman

·         Qatar

·         Iran

·         Egypt

·         Rest of Middle East and Africa

Delvens Industry Expert's Standpoint

The aviation industry seeks to reduce its carbon footprint to achieve a sustainable environment and meet strict emission standards. Various stakeholders in the aviation industry are adopting alternative solutions such as improving the efficiency of aircraft engines through structural changes, hybrid electric and all-electric aircraft, renewable aviation fuels, etc. However, among these solutions, the adoption of sustainable aviation fuels such as electronic fuels, synthetic fuels, ecological jet fuels, bio-jet fuels and hydrogen fuels is one of the most viable alternative solutions compared to others in terms of social and economic benefits which helps to significantly reduce the current and expected environmental impacts of aviation. In addition, airlines in the aviation sector are expanding their commercial fleets due to the increase in air traffic. These large and growing fleets will drive demand for SAF as a near-medium term solution to reduce greenhouse gas emissions. These factors have led to the expansion of the market and increased demand for Bio-Jet Fuels solutions.

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