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Report Overview
The global aviation biofuels market attained a value of nearly USD 420.74 million in 2023. The market is further expected to grow at a CAGR of 60.5% during the forecast period of 2024-2032 to reach a value of USD 29,736.55 million by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Aviation Biofuels Market Growth
The growing concerns over environmental pollution are driving the adoption of biofuels in the aviation sector, as they are renewable, biodegradable, and non-toxic. The emerging need to reduce the dependency on fossil fuels and the soaring price of crude oils are also contributing to the aviation biofuels market value.
The expanding aviation sector, globalisation, and improving living standards are significantly boosting the preference for affordable and comfortable air travel experiences, which, in turn, is increasing the demand for cost-effective biofuels.
The sustainability of biofuels, its increasing production, and the rising need to reduce carbon footprint are accelerating the growth of the aviation biofuels market. Additionally, the use of biofuels in the aviation sector is potentially easier when compared to a more dispersed public fuel delivery system. Leading airlines and aircraft manufacturers are setting up voluntary targets to achieve carbon neutrality, which is aiding the market growth.
Various government initiatives towards combating climate change are expected to augment the use of biofuels as an alternative to conventional fuels in the aviation sector. Further, the use of advanced technologies for effective biofuel production to meet the growing demands is likely to aid the aviation biofuels demand growth over the forecast period.
Aviation Biofuels Market Report Snapshots
Aviation Biofuels Market Growth
Aviation Biofuels Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is assessed to grow at a CAGR of 60.50% between 2024 and 2032.
The market is estimated to reach almost USD 29,736.55 million by 2032.
The major market drivers include the increasing air traffic, the rising need to reduce dependency on fossil fuel, expanding aviation sector, and the cost-effectiveness and sustainability of aviation biofuels.
The key market trends guiding the growth of the market include the growing environmental consciousness and advancements in biofuels production technologies.
Aviation biofuels reduce carbon footprints, offer a sustainable and cleaner alternative to conventional fossil fuels, and lower the environmental impacts of the aviation sector.
The major regions in the aviation biofuels market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant technologies of aviation biofuels include Fischer-Tropsch and hydrogenated vegetable oil.
The different applications of aviation biofuels include military aviation and commercial aviation.
The major players in the market are Gevo, Inc., Red Rock Biofuels, Exxon Mobil Corporation, TotalEnergies SE, and Enerkem Inc., among others.
In 2023, the market reached an approximate value of USD 420.74 million.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124