Global SAF market to reach value of $131.1 billion by 2033, report finds
In Ireland, Research and Markets reported that the sustainable aviation fuel market is projected to be valued at $131.12 billion by 2033 from $1.29 billion in 2023, growing at a CAGR of 58.78%
Based on application, the sustainable aviation fuel market is led by the commercial aviation segment, with a 78.64% share in 2023, the report stated.
“Increasing environmental concerns and volatile jet fuel prices are expected to drive the growth of the sustainable aviation fuel market. Commercial airlines have adopted SAF as a way to meet their sustainability objectives because they understand the urgent need to switch to greener fuels. The aviation industry is a great sector for promoting the demand for and supply of sustainable aviation fuel because it has the size and infrastructure to facilitate widespread SAF adoption,” it added.
The report also noted that the North America region accounted for 48.09% of the global SAF market in 2022, owing to a significant number of companies based in the region.
Category: SAF
