The Renewable Aviation Fuel Market report evaluates the important characteristics of the Renewable Aviation Fuel market based on present industry scenarios, market demands and business strategies. The Market report separates the Renewable Aviation Fuel industry based on the Types, Applications, Key Players & Regions.
Renewable Aviation Fuel Market
In 2017, civil aviation, emitted around 859 million tons of CO2, accounting for around 2% of all human-induced CO2 emissions. To cut CO2 emissions by half by 2050 relative to 2005 levels and to achieve the goal of carbon-neutral growth from 2020, the industry will initiate the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) in 2021. The IATA (International Air Transport Association) has also set a goal of reaching 1 billion passengers on flights fuelled by sustainable aviation biofuels by 2025. To achieve this goal is expected to require policy support to increase aviation biofuels production and lower costs premiums over fossil jet kerosene. Although sustainable and clean alternative technologies are in development, such as electric or solar-powered aircraft and the use of cryogenic hydrogen, these options are unlikely to be ready for use until the well after 2050.
Policies Supporting Biofuel Production and Consumption
At the international level, the ICAO in 2016, after years of debate and planning, ICAO has agreed on a new global market-based measure (GMBM), with a goal of implementing these measures by 2020. Such market-based mechanisms are expected to provide the basis to set a price on emissions, as the primary means for emission reduction at the Regional and national levels. GMBMs have been suggested as a way to bridge the time gap, by limiting carbon emissions while bio-jet fuels and other technologies are developed and hence driving the market in the long run. The Renewable Energy Directive 2009/28/EC (RED) requires all EU Member States to ensure that by 2020 at least 10% of their transport energy consumption to be fulfilled from renewable sources by 2020. In 2015, it achieved 6.7%. In other countries such as Indonesia, regulations on alternative fuels are currently designed to increase domestic consumption of biodiesel produced from palm oil. It began developing its biofuels industry in 2006, and since then, several regulations supporting biofuel have been introduced and evolved. Indonesian biofuel mandate is one of the most aggressive in the world.
Commercial to Account for the Largest Share
Air travel has become more accessible than ever. In 2017 airfares, in real terms, averaged less than half what they were in 1995. In 2017, around 4.1 billion people traveled by aircraft, the highest till now. This has resulted in a significant increase in demand for aviation fuel and emissions in the past few years. In response, the commercial sector has started to witness a gradual shift from the use of conventional aviation fuel to renewable fuel. More than 100,000 commercial flights have already successfully flown on biofuels blends, and several major airlines have committed to long-term biofuel purchase agreement. The IATA (International Air Transport Association) expects around 3.8 billion new passengers to travel by 2036, almost double compared to 2017. The biggest driver for the demand is expected to be Asia-Pacific, accounting for almost more than half of the new passengers over the next two decades. This expected to drive the demand for more aircrafts and hence aviation fuel. As the industry is planning to shift to a renewable source of fuel to power its engine, biofuel has a huge opportunity in helping the aviation industry to meet the emission reduction target.
North America Holds the Largest Share in Renewable Aviation Fuel Market
North America is one of the largest markets for both the aviation industry and renewable aviation fuel. An improving economy both at home and globally translated into a good year for the US aviation In 2017. The support from the Federal Aviation Administration is driving the consumption of biofuel in the aviation industry. Although increasing renewable Fuel Standard (RFS) targets have driven the demand in recent years, imports fell by 36% In 2017 compared to 2016. The US Department of Commerce (DOC) has put import duties on foreign biodiesel volumes sourced from Indonesia and Argentina, the two leading exporters of biodiesel. This has resulted in the decline in imports. Such efforts are expected to drive the domestic production of biofuels to meet the increasing demand from the aviation sector. The military sector of the United States has also started to blend biofuels with conventional petroleum in their aircraft to adopt a cleaner fuel. In 2017, the Office of the Secretary of Defense announced a USD 55 million funding opportunity for 10 million gallon biorefinery capable of producing advanced drop-in bio-equivalent fuels suitable for military use.
Renewable Aviation Fuel Market Major players
Archer Daniels Midland Co
Renewable Energy Group Inc
Woodland Biofuels Inc.
Advanced Biofuels Canada
Atlantic Biodiesel Corporation
Louis Dreyfus Co LLC
Wilmar International Limited
RaÃzen Energia S.A.
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Renewable Aviation Fuel market report provides the comprehensive analysis of the market, based on leading players of present, past of Renewable Aviation Fuel Industry and resourceful data that will act as a supportive guide for leading players.
Major Key Players of Renewable Aviation Fuel Market Report: Total SA -Neste Oyj -Archer Daniels Midland Co -Renewable Energy Group Inc -Woodland Biofuels Inc. -CropEnergies AG -Atlantic Biodiesel Corporation -Louis Dreyfus Co LLC -Wilmar International Limited -RaÃzen Energia S.A..
Key Stakeholders in Renewable Aviation Fuel Market Report:
- Renewable Aviation Fuel Manufacturers
- Renewable Aviation Fuel Distributors/Traders/Wholesalers
- Renewable Aviation Fuel Subcomponent Manufacturers
- Industry Association
- Downstream Vendors
Reasons to Purchase Renewable Aviation Fuel Market ReportCurrent and future renewable aviation fuel market outlook in the developed and emerging marketsAnalyzing various perspectives of the market with the help of Porterâs five forces analysisThe segment that is expected to dominate the marketRegions that are expected to witness fastest growth during the forecast periodIdentify the latest developments, and strategies employed by the major market players.3 months analyst support along with the Market Estimate sheet (in excel).
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In a word, the Renewable Aviation Fuel Market report provides major statistics on the state of the Renewable Aviation Fuel industry and is a valuable source of guidance and direction for companies and individuals interested in the market.