SAF market predicted to grow fast

The global sustainable aviation fuel market is projected to grow from USD 460.1 million in 2022 to USD 20.79 billion by 2030. This represents a growth rate of 61.2% from 2023 to 2030.

The growth estimates are mentioned in a recent report by Coherent Market Insights.
According to the report, the rapid pace of the growth can be attributed to the increasing passenger traffic and growing number of aircraft orders.

GlobeNewsWire quotes the report: “Moreover, growing government support for development of alternative jet fuels due to rising environmental concerns are also expected to propel market growth. Sustainable aviation fuel is an ideal substitute for petroleum-based jet fuel and it offers several advantages such as lower carbon emissions and greater energy efficiency over conventional jet fuels.” Furthermore, growing investment by key players in sustainable aviation fuel is a recent trend. According to the research agency, this trend is expected to continue in the near future as well.

Variety of feedstocks

The report states that SAF is developed from a variety of feedstocks, such as biomass, waste oils and fats, and municipal and green waste, as well as by using a process that captures carbon dioxide directly from the air. “The feedstocks used in manufacturing of SAF do not affect the supply of food crops or contaminate water supplies, and they also help to reduce the overall amount of carbon dioxide in the atmosphere. Such environmental benefits associated with the sustainable aviation fuel market growth.”