Global SAF market to reach value of $131.1 billion by 2033, report finds
In Ireland, Research and Markets reported that the global SAF market is forecasted to reach a value of $131.12 billion by 2033, up from $1.29 billion in 2023.
“This meteoric rise is fueled by a staggering compound annual growth rate (CAGR) of 58.78%, spotlighting the industry’s dedication to curbing greenhouse gas emissions and combating aviation’s environmental impact on climate change,” the report reads.
The sustainable aviation fuel market is led by the commercial aviation segment, with a 78.64% share in 2023, the report adds.
“North America accounted for the highest share of 48.09% in 2022 in the global sustainable aviation fuel market, owing to a significant number of companies based in the region. North America’s growth is driven by various activities in the U.S. and Canada, as well as increased spending by commercial organizations such as Aemetis, Inc., Alder Fuels, Gevo, Inc., Fulcrum BioEnergy, Inc., and government key agencies.”
Category: SAF
