Jet Kerosene Market Outlook - Supply and Demand Analysis 2025-2034

Jet Kerosene Market

Jet kerosene, also known as aviation turbine fuel (ATF), is a type of fuel specifically designed for use in aircraft engines. It is a clear or straw-coloured liquid, closely related to regular kerosene but refined to meet the stringent quality standards required for aviation. Jet kerosene is highly flammable and possesses a high energy content, making it ideal for powering jet engines.

Owing to the fuel’s characteristic of a higher flash point compared to gasoline, it is capable of performing reliably under a wide range of temperatures and conditions encountered during flight, from extreme cold at high altitudes to the heat generated during takeoff and landing.

Global Supply/Demand Outlook

The global jet kerosene market stood at a volume of around 330 million tonnes in 2023. The market is estimated to grow at a CAGR of 3.50% between 2025 and 2034 to reach a volume of about 450.6 million tonnes by 2032. The key factors propelling the jet kerosene market are the growth of the aviation industry and the increasing demand from the commercial aviation sector. Economic development and rising disposable incomes enhance air travel demand, which in turn, drives the demand for jet kerosene.

The commercial aviation sector is the leading consumer of jet kerosene, with an estimated 68% market share. The market benefits from the growing preference for air travel in both developed and developing markets and advancements in the aviation technology.

Regional Market Analysis

Europe and North America are the largest markets for jet kerosene, globally. The soaring demand for travel, especially during the holiday season, along with the growing preference for kerosene-type fuels in the winter, including jet fuel, are the primary factors driving the regional demands.

The Asia Pacific witnessed surge in air travel, post-pandemic, which also strengthened the demand for jet kerosene in the region. The demand is significantly increasing in China and India, with both the countries making efforts to restore flight capacity. The surge in demand for kerosene-type fuels has made it the most profitable for Asian refineries, outshining gasoline and diesel. According to estimates, China's demand for jet fuel was estimated to be approximately 860,000 barrels per day by the end of January 2024, registering the highest levels since 2020 and a profit of over 25% when compared to 2023.

Key Market Players

The top five players in the jet kerosene market are Shell Plc, Exxon Mobil Corporation, Total Energies SE, Indian Oil Corporation Limited, and Chevron Corporation.

Other significant manufacturers of jet kerosene are Gazprom PJSC, Air BP, Bharat Petroleum Corporation Limited, Vitol Aviation, and Lotte Chemical Corporation.

Key Questions Answered in the Report:

• What are the high-growth opportunities and markets for jet kerosene by application and region?

• What are the major types of jet kerosene available by region?

• Which segments and regions are projected to grow at a faster pace and why in the jet kerosene market?

• What is the nameplate capacity of jet kerosene by region from 2018 to 2032?

• How does the plant capacity utilisation of jet kerosene vary by region between 2018 and 2034?

• Who are the major players in the jet kerosene market by capacity and region?

• What major plant shutdowns and expansions have occurred in the jet kerosene market in the last year and the last quarter?

• What major plant shutdowns and expansions are planned in the jet kerosene market over the next year and quarters?

• How did export and import dynamics of jet kerosene vary by region in terms of value between 2018 and 2023?

• How did export and import dynamics of jet kerosene vary by region in terms of volume between 2018 and 2023?

• What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of jet kerosene?

• What are the environmental considerations and regulatory impacts affecting the jet kerosene market?

• What technological innovations are having an impact on the production and application of jet kerosene?

• What are the key trends and innovations in the jet kerosene market?

• What are the challenges and opportunities faced by jet kerosene manufacturers?

• What are the potential risks and barriers to entry for new players in the jet kerosene market?

• What strategic investments and expansions have major players made in the jet kerosene market?

• How are geopolitical factors and international trade policies affecting the global jet kerosene market?

• What are the price trends for jet kerosene, and how are they expected to change?

• How does the supply chain of jet kerosene operate, and what are its key components?