Energy & Power
Energy & Power

Bio-based Sustainable Aviation Fuel (SAF) Market Size, Share & Analysis Report By Type (Fischer-Tropsch Synthetic Paraffinic Kerosene (FT–SPK), Hydrotreated Esters and Fatty Acids (HEFA), Alcohol-to-Jet (ATJ) process, Synthesized iso-Paraffins (SIP), Hydro-Processed Renewable Jet, Virent's BioForming (VB), Pyrolysis), By Application (Commercial Aircraft, Military Aircraft, UAV and Other), Regional Forecasts, 2023 - 2032

Report ID : 3195
Date : 2024-03-15
No of Pages : 150
Format : PDF

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Bio-based Sustainable Aviation Fuel (SAF) Market is estimated to be worth USD 1.0 Billion in 2023 and is projected to grow at a CAGR of 53.0 % between 2024 to 2032. The study has considered the base year as 2023, which estimates the market size of market and the forecast period is 2024 to 2032. The report analyzes and forecasts the market size, in terms of value (USD Billion), for the market. The report segments the market and forecasts it by Type, by Application and by region/country.

Sustainable Aviation Fuel (SAF) is the principal word used by the aviation industry to describe nonconventional aviation fuel that is not sourced from fossil sources. Although various terms such as sustainable alternative fuel, sustainable alternative jet fuel, renewable jet fuel, or bio jet fuel are used interchangeably, they generally convey the same meaning. The term 'biofuels' traditionally refers to fuels produced from biological resources like plant or animal material. However, advancements in technology enable the production of fuel from alternative, non-biological sources. Therefore, the term is adapted to emphasize the sustainable nature of these fuels.

Biobased SAF represents a potential avenue for reducing greenhouse gas (GHG) emissions in the aviation sector, aligning with climate protection targets. Anticipated is a substantial demand for SAF with high GHG mitigation potential compared to fossil jet fuel. It is foreseen that European airports will receive supplies of JET A-1 containing various types of renewable SAF in the medium term, known as multiblend JET A-1. To incorporate SAF into national targets for renewable energy use, such as under the RED II framework, adherence to sustainability criteria throughout the supply chain is imperative. Additionally, it is crucial to ensure that fuel mixtures containing different alternative fuel components adhere to current fuel specifications for JET A-1. The introduction of sustainable aviation fuels to the market faces certain restrictions as their composition may differ from conventional fossil JET A-1 kerosene, depending on the production process. For instance, synthetic kerosene cannot currently be introduced to the market in its pure form; instead, it must be blended with fossil-based JET A-1. Certification according to ASTM D7566 (Standard Specification for Aviation Turbine Fuel Containing Synthesized Hydrocarbons) is essential, and once certified, the blend qualifies as turbine fuel under ASTM D1655 requirements and can be utilized accordingly.

After reviewing the data shown below, it can be determined that the North American region dominates the Bio-based Sustainable Aviation Fuel (SAF) Market for the following reasons.
The dominance of the North American region in the Bio-Based Sustainable Aviation Fuel (SAF) Market is attributed to the drive to curtail carbon emissions and enhance jet fuel efficiency. SAF presents a means to reduce carbon emissions without necessitating capital-intensive technical upgrades exclusive to contemporary aircraft. As of 2019, SAF output comprises less than 1% of the overall jet fuel demand. According to a 2016 estimate by the United States Department of Energy, the United States holds the potential to sustainably produce a minimum of 1 billion dry tons of nonfood biomass resources annually by 2040. This biomass has the capacity to substantially diminish fossil fuel utilization in a sustainable manner.
The Asia-Pacific region leads in the bio-based Sustainable Aviation Fuel (SAF) market due to its focus on utilizing bio-based feedstocks, including municipal solid waste. This emphasis significantly contributes to market expansion by offering renewable and environmentally friendly alternatives to traditional jet fuels. In terms of Municipal Solid Waste (MSW) generation, the order is as follows: Indonesia leads with 64 million tons/year, followed by Thailand (26.77 million tons/year), Viet Nam (22 million tons), Philippines (14.66 million tons), and Lao PDR generating the lowest quantity of MSW at 0.07 million tons/year. Due to such huge generation of the waste Asia Pacific region have huge opportunity for the Bio-Based Sustainable Aviation Fuel (SAF) market in the coming future.

By Type

Based on the Type, the Bio-based Sustainable Aviation Fuel (SAF) Market is bifurcated Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK), Hydrotreated Esters and Fatty Acids (HEFA), Alcohol-to-Jet (ATJ) process, Synthesized iso-Paraffins (SIP), Hydro-Processed Renewable Jet, Virent's BioForming (VB) and Pyrolysis– where Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK) is dominating and ahead in terms of share.
The Fischer-Tropsch Synthetic Paraffinic Kerosene (FT-SPK) segment asserts its dominance in the bio-based Sustainable Aviation Fuel (SAF) market's fuel type category due to several key advantages. Robust Life Cycle Assessment (LCA) studies consistently highlight that the GTJ or FT-SPK pathways deliver the highest greenhouse gas (GHG) savings among various bio-jet alternatives. This heightened environmental performance aligns seamlessly with the aviation industry's commitment to reducing carbon footprints. Additionally, the FT hydrocarbons derived through the GTJ pathway are inherently sulphur-free, ensuring that FT-SPK easily complies with stringent sulphur limits, notably meeting the 0.0015 wt% requirement according to ASTM D7566. Beyond environmental benefits, this characteristic contributes to cleaner combustion processes, establishing FT-SPK as a technologically advanced and environmentally friendly choice, making it a prominent leader in the evolving landscape of sustainable aviation fuels.

By Application

Based on the Type, the Bio-based Sustainable Aviation Fuel (SAF) Market is bifurcated Commercial Aircraft, Military Aircraft, UAV – where UAV is dominating and ahead in terms of share.
Within the application segment, the dominance of the bio-based Sustainable Aviation Fuel (SAF) market is notably asserted by the Unmanned Aerial Vehicles (UAV) category, propelled by various key factors elucidated in the search results. The UAV segment is poised to experience the highest growth, driven by its increasing integration into sectors such as agriculture, surveillance, and logistics, accentuating the imperative for environmentally sustainable operations. The utilization of SAF in UAVs aligns seamlessly with global initiatives to curtail carbon emissions, positioning it as the preferred fuel choice. Furthermore, the UAV sector benefits from a swift adaptation to emerging technologies and regulatory frameworks, fostering an accelerated expansion within the SAF market. This dominance is further fortified by technological advancements, regulatory initiatives promoting bio-based aviation fuels, augmented investments in research and development, and collaborative efforts among industry stakeholders, collectively contributing to a more sustainable future for air travel.

Key Players
• Gevo
• TotalEnergies
• Neste
• Sasol Limited
• World Energy, LLC


Reduce Carbon Emission
The growth of the bio-based Sustainable Aviation Fuel (SAF) market is propelled by a crucial factor the imperative to reduce carbon emissions, aligning seamlessly with global endeavours to address the environmental impact of aviation and combat climate change. This focus on carbon emission reduction within the aviation sector, supported by collaborative policies and initiatives, acts as a catalyst for the market's expansion. SAF adoption is fueled by its remarkable capacity to significantly decrease greenhouse gas emissions, making it the preferred choice for airlines and aviation organizations committed to achieving sustainability goals and meeting stringent environmental regulations. These factors collectively position the SAF market as a vital solution for steering aviation towards carbon neutrality and fostering a more sustainable future for air travel.


Demand for SAF by Airlines and Technological Advancements
The increasing global demand for Sustainable Aviation Fuel (SAF) from airlines creates a substantial market opportunity, prompting heightened investments in SAF production, technological advancements, and innovations in feedstock. With more airlines committing to the integration of SAF into their operations, the industry enters a positive feedback loop that stimulates innovation, capitalizes on economies of scale, and ultimately contributes to the development of a more sustainable aviation sector.

Report Attribute Details
Market Value in 2023 1.0 Billion
Forecast in 2032 45.80 Billion
CAGR CAGR of 53% from 2024 to 2032
Base Year of forecast 2023
Historical 2019-2022
Unites Revenue in USD Million and CAGR from 2024 to 2032
Report Coverage Revenue forecast, Industry outlook, Competitive Landscape, Growth Factors, and Trends
Segments Scope By Type, By Application
Regions Covered North America, Europe, Asia Pacific, SA and MEA
Key Companies profiled • Gevo
• TotalEnergies
• Neste
• Sasol Limited
• World Energy, LLC

Table of Contents
1 Market Overview
2 Market Drivers
3 Market Restraints
4 Market Challenges
5 Market Opportunities
5.3 Porter’s Five Analysis
5.4 Covid-19 Impact
6 Bio-based Sustainable Aviation Fuel (SAF) Market, By Type
6.1. Fischer-Tropsch Synthetic Paraffinic Kerosene (FT–SPK)
6.2. Hydrotreated Esters and Fatty Acids (HEFA)
6.3. Alcohol-to-Jet (ATJ) process
6.4. Synthesized iso-Paraffins (SIP)
6.5. Hydro-Processed Renewable Jet
6.6. Virent's BioForming (VB)
6.7. Pyrolysis
7 Bio-based Sustainable Aviation Fuel (SAF) Market, By Application
7.1. Commercial Aircraft
7.2. Military Aircraft
7.3. UAV
7.4. Other
8 Major Developments and Strategic Initiatives
9 Market Positioning
10 Market Share Analysis
11 North America
11.1. U.S.
11.2. Canada
11.3. Mexico
11.4. Europe
11.5. Germany
11.6. UK
11.7. Spain
11.8. Russia
11.9. France
11.10. Italy
12 Asia Pacific
12.1. China
12.2. Japan
12.3. India
12.4. South Korea
12.5. Australia
12.6. CSA
12.7. Brazil
12.8. Argentina
13 MEA
13.1. UAE
13.2. Saudi Arabia
13.3. South Africa
14 Company Profiles
14.1. Gevo
14.1.1. Company Overview
14.1.2. Financial Performance
14.1.3. Product Portfolio
14.1.4. Strategic Initiatives
14.2. TotalEnergies
14.2.1. Company Overview
14.2.2. Financial Performance
14.2.3. Product Portfolio
14.2.4. Strategic Initiatives
14.3. Neste
14.3.1. Company Overview
14.3.2. Financial Performance
14.3.3. Product Portfolio
14.3.4. Strategic Initiatives
14.4. Sasol Limited
14.4.1. Company Overview
14.4.2. Financial Performance
14.4.3. Product Portfolio
14.4.4. Strategic Initiatives
14.5. World Energy, LLC
14.5.1. Company Overview
14.5.2. Financial Performance
14.5.3. Product Portfolio
14.5.4. Strategic Initiatives