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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 Regional Analysis
North America to Account for A Significant Aviation Biofuels Market Share
In North America, the introduction of favourable government initiatives towards producing aviation biofuels that address climate change is a key trend of aviation biofuels market. Several administrative bodies in the United States are taking initiatives to increase production and reduce the cost of sustainable aviation fuels while lowering emissions in the aviation sector.
The increasing air traffic and the matured aviation sector of the region are providing lucrative opportunities for the market growth in North America. Meanwhile, the market in Europe is expected to be aided by the rising focus on sustainability and the growing environmental consciousness in the region.
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