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Aviation Biofuel Market  Size, Segmentation, Share, Forecast, Analysis, Industry - 2025

 

MarketForecast 

Global Aviation Biofuel Market is projected to be valued at USD59.88 billion by 2025, expanding at a CAGRof 5.90% between 2019and 2025. Growth in the air passenger traffic has significantlycontributed to the growth of the aviation biofuel market.  

High competition owing to presence of large number of players inthis market is forcing manufacturers to continuously focus on productinnovation and development. Furthermore, airline operators are also shifting to the use of aviation biofuel to reduce greenhouse gas emissions and reduce global carbon footprint. For example, in May 2019, World Energywas awarded a contract by United Airlines to provide nearly 10 million gallons of aviation biofuel over the next two years. 

Market USP 

The rising development ofbio ports is expected to drive the AviationBiofuel Market growth. 

  • Growth Opportunities in the Market  
  • Hydrotreated     Vegetable Oils (HVO) segment expected to witness the highest growth in the     market
  • :     HVO offers benefits such as reduced greenhouse gas emissions, flexibility,     low maintenance cost, high storage properties, and is odorless. Therefore,     the segment is expected to witness the highest growth during the forecast     period.  

Commercial segment     expected to remain the dominating segment

  • : The commercial     segment dominates the market in 2018 and is expected to witness higher     growth during the review period. Increasing the number of commercial     aircraft being manufactured to cater to the rising air passenger traffic     is driving the segment growth. Furthermore, the growing adoption of     aviation biofuel by commercial airlines is also expected to drive the     growth of the market. For example, in 2018 SpiceJet operated     biofuel-powered aircraft from Dehradun to New Delhi.   

Key Players  

Air BP Limited (UK) 

  • World Energy
  •  (US
  • Chevron Corporation (US) 
  • Honeywell International Inc. (US) 
  • SkyNRG (The Netherlands) 
  • Renewable Energy Group, Inc. (US) 
  • TerraVia (US) 
  • SWEDISH BIOFUELS AB (Sweden) 
  • NXT Fuels Limited (New Zealand) 
  • Red Rock Biofuels (US)   
  • Other Prominent Players  

Gevo Inc. (US)