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Zion Market Research has published a new report titled 'Aviation Biofuels Market by Production Technology (Fischer-Tropsch and Hydrogenated Vegetable Oil) and by Application (Military Aviation and Commercial Aviation): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025. According to the report, the global aviation biofuels market was valued at approximately USD 61 billion in 2018 and is expected to generate around USD 131 billion by 2025, at a CAGR of around 6.4% between 2019 and 2025.
Browse the full 'Aviation Biofuels Market by Production Technology (Fischer-Tropsch and Hydrogenated Vegetable Oil) and by Application (Military Aviation and Commercial Aviation): Global Industry Perspective, Comprehensive Analysis, and Forecast, 20182025 Report at https://www.zionmarketresearch.com/report/aviation-biofuel-market
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Aviation biofuel is a clean biofuel form that is used in the aviation industry. Aviation biofuel is often considered as the means to minimize carbon emissions in the atmosphere. Biofuels are considered as first-generation fuels. They are mainly produced from anaerobic digestion. The second-generation biofuels are mainly produced from non-food crops, such as organic waste, biomass crops, wood, and food crop waste. The third-generation biofuels are produced from engineered energy crops, such as algae, as its feedstock and biomass. Algae-based biofuels are expected to be manufactured into a wide range of fuels, such as jet fuel, diesel, or petrol. In 2017, the aviation industry emitted around 858 million tons of carbon dioxide, accounting for around 2% of all human-induced carbon emissions. Thus, to reduce the carbon emissions by 2050 coupled with the goal of carbon-neutral growth from 2020, the aviation industry will introduce Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) in 2021. This, in turn, will provide potential growth opportunities for the aviation biofuels market. However, strict regulations for maintaining the standard specifications while generating the aviation biofuel may put a hindrance on the global aviation biofuels market growth.
Based on production technology, the global aviation biofuels market includes Fischer-tropsch and hydrogenated vegetable oil. The hydrogenated vegetable oil segment is expected to dominate the global market, as this oil is used as a primary source or raw material for the production and generation of first-generation aviation biofuel. On the basis of application, the global aviation biofuels market is categorized into commercial aviation and military aviation. The commercial aviation segment is expected to dominate the global market, owing to the increasing acceptance of biofuels as a substitute for conventional fuels.
By region, North America held a major share of the global aviation biofuels market in 2018 and is expected to continue with its regional authority in the upcoming years as well. This regional growth can be attributed to the rising clean energy demand and increasing emission reduction measures. Moreover, the U.S. is a major hub for the production of biofuels, and the majority of the biofuel is consumed by military aviation. The Asia Pacific region is expected to provide significant opportunities for the global aviation biofuels market growth in the future, owing to the ongoing developments related to the commercialization of aircraft biofuels. Most of the aviation biofuels are produced from industrial and municipal waste in the region.
Some key players of the global aviation biofuels market are Red Rock Biofuels, Vega Biofuels, GEVO, PetroSun, Inc., Archer Daniels Midland Company, Honeywell International Inc., Targray Technology International Inc., Argent Energy, KFS Biodiesel GmbH & Co. KG, and Shirke Energy.
This report segments the global aviation biofuels market into:
Global Aviation Biofuels Market: Production Technology Analysis
- Fischer-Tropsch
- Hydrogenated Vegetable Oil
Global Aviation Biofuels Market: Application Analysis
- Military Aviation
- Commercial Aviation
Global Aviation Biofuels Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
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