Global SAF market to reach $16.8bn by 2030, report finds
In Ireland, Research and Markets reported that the global sustainable aviation fuel market is expected to grow from $1.1 billion in 2023 to $ 16.8 billion by 2030. The market is forecast to expand at a CAGR of 47.7% during the forecast period, according to the report. “The sustainable aviation fuel market is experiencing robust growth driven by several key factors. Heightened awareness of climate change and the need to reduce carbon emissions in the aviation industry is a primary catalyst, prompting airlines to adopt SAF as a cleaner alternative to traditional jet fuels,” the report said. “Regulatory initiatives and mandates, such as those set by the International Civil Aviation Organization (ICAO) and various governments, further propel market expansion. Increasing investments in research and development to enhance the production efficiency of SAF, coupled with advancements in feedstock technologies, contribute to the sector’s growth,” it added.
Category: SAF
