In Collaboration with DHL Express, Neste Announced One of the Largest Ever Sustainable Aviation Fuel Deals

Application of sustainable aviation fuel is a step towards the conservation of the environment. Sustainable aviation fuel helps the environment by reducing the carbon dioxide emissions. This in turn will lead to contributing less to the global warming. Sustainable aviation fuel is a unique form of fuel designed for use in aircraft and at the same time will increase the performance of aircraft. It is derived from sustainable feedstock and could be very comparable in its chemistry to standard fossil jet fuel.

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The global sustainable aviation fuel market is expected to reach USD 11,675.53 million by 2029 from USD 559.00 million in 2021, growing with a healthy CAGR of 47.9% in the forecast period of 2022 to 2029. Factors such as a rise in several airline passengers, growing disposable income, increase in air transportation, and rise in consumption of synthetic lubricants supplement the growth of the global sustainable aviation fuel market. Growth and expansion of aviation industry too will bolster the growth of the market. However, the lack of infrastructure act as a restraining factor for the market.

Increase in air transportation and consumption of synthetic lubricants is expected to drive the market's growth rate

Rising number of passenger traveling via air mode of transportation is bolstering the market's growth rate. Air travel is a critical component in achieving economic growth and development. It contributes to the growth of trade, tourism, and job possibilities. The aviation system is evolving and will continue to evolve. This in turn will act as an important market growth determinant. Increased expenditure by public and private players on aviation infrastructure development will also promote the market growth rate. Continuous research and development pertaining to the deployment of advanced technologies will yet again widen the scope of growth. However, it will be difficult for the air transportation system to adapt quickly enough to fulfill changing needs in the long run.

Report Scope and Market Segmentation

Segment Analysis:

The global sustainable aviation fuel market is segmented into four notable segments based on fuel type, manufacturing technology, blending capacity, and blending platform.  

• The global sustainable aviation fuel market is segmented into bio fuel, hydrogen fuel, and power to liquid fuel based on fuel type. In 2022, the bio fuel segment is expected to dominate the global sustainable aviation fuel market with a 82.79% market share due to rapid developments in technological pathways to commercialize the use of alternative jet fuel.   

Biofuel is expected to emerge as the dominating fuel type segment in the global sustainable aviation fuel market

In 2022, biofuel is set to dominate the fuel type segment owing to the rising technological advancements pertaining to the manufacturing machines. Further, rapid developments in technological pathways to commercialize the use of alternative jet fuel in combinations with growing focus on the sustainable goals will widen the scope of growth for this segment.

• Based on manufacturing technology, the global sustainable aviation fuel market has been segmented into hydroprocessed fatty acid esters and fatty acids - synthetic paraffinic kerosene (hefa-spk), fischer tropsch synthetic paraffinic kerosene (FT-SPK), synthetic iso-paraffin from fermented hydroprocessed sugar (hfs-sip), fischer tropsch (ft) synthetic paraffinic kerosene with aromatics (ft-spk/a), alcohol to jet spk (atj-spk) and catalytic hydrothermolysis jet (CHJ). In 2022, the hydroprocessed fatty acid esters and fatty acids - synthetic paraffinic kerosene (HEFA-SPK) segment is expected to dominate the global sustainable aviation fuel market with a 40.73% market share due to the leading alternative replacements for conventional jet fuel.          
• Based on blending capacity, the global sustainable aviation fuel market has been segmented into below 30 %, 30 % to 50 %, and above 50%. In 2022, the below 30% segment is expected to dominate the global sustainable aviation fuel market with a 74.0% market share as the moderate blend capacity, drop-in facility in existing fuel systems, supply logistics infrastructure, and aircraft fleet allow to minimize the overall cost and cater to the volume demands from commercial and military aviation  
• Based on blending platform, the global sustainable aviation fuel market has been segmented into commercial aviation, military aviation, business & general aviation, and unmanned aerial vehicle. In 2022, commercial aviation is expected to dominate the global sustainable aviation fuel market with a 64.67% market share due to the increase in the number of air passengers. 

Commercial aviation is expected to emerge as the dominating blending platform segment in the global sustainable aviation fuel market

The commercial aviation segment will dominate the blending platform segment in 2022. This is because of the rising number of passengers traveling via air mode of transportation daily. Increasing personal disposable income is all the more indirectly promoting the growth of this segment. Further, the rising number of commercial aircrafts in the developing economies will widen the scope of growth for this segment.

Major Players

Data Bridge Market Research recognizes the following companies as the major sustainable aviation fuel market players in advanced wound care market are Neste (Finland), Gevo (U.S.), VELOCYS (U.K.), Fulcrum BioEnergy (U.S.), SkyNRG (Netherlands), Prometheus Fuels (U.S.), World Energy (U.S.), Avfuel Corporation (U.S.), LanzaTech (U.S.) and ZeroAvia, Inc. (U.S.).

Market Development –

• In March 2022, Neste announced one of the largest ever sustainable aviation fuel deals in collaboration with DHL Express. This agreement is Neste’s largest for Sustainable Aviation Fuel (SAF) to date and one of the largest SAF agreements in the aviation industry. Neste will provide DHL with roughly 320,000 tonnes (400 million litres) of Neste MY Sustainable Aviation FuelTM over the next five years. Neste's largest Sustainable Aviation Fuel (SAF) arrangement to date and one of the largest SAF agreements in the aviation sector. Since 2020, Neste and DHL have collaborated to make Neste MY Sustainable Aviation Fuel available to DHL's operations. This collaboration will enhance Neste’s current network by offering seamless connectivity all over the world.
• In March 2022, BP ventures have made a £3 million equity investment in Flylogix – a pioneering unmanned aerial vehicle (UAV) business that uses drones to aid methane detection. The investment comes as part of a £6 million fundraising round headed by Amati Global Investors. Flylogix uses artificial intelligence, satellite communications, and SeekOps' methane sensor technology to monitor and quantify methane in some of the world's most remote and punishing environments. These BP ventures focus on connecting and growing new energy businesses and current networks by offering seamless connectivity all over the world.
• Gevo, Inc. and Trafigura Trading LLC, a wholly-owned Trafigura Group Pte Ltd subsidiary, signed a binding renewable hydrocarbons buy and sale agreement in August 2020. Trafigura will be able to offer SAF to both domestic and foreign customers, whose demand in low-carbon jet fuel is expanding. The deal is a long-term, take-or-pay arrangement that is the largest in Gevo's history. Trafigura is one of the world's largest independent commodities trading corporations, with sales and assets totaling $171 billion and $54 billion. Trafigura is projected to receive 25 MPGY of renewable hydrocarbons under this arrangement.
• Urban Aeronautics, Inc., a leader in VTOL aircraft, granted Hypoint, Inc. a contract in June 2020 to offer zero-carbon hydrogen fuel cell technology for the CityHawk eVTOL aircraft. HyPoint, a leader in next generation, high power (HTPEM) hydrogen fuel cell systems, and Urban Aeronautics, which is pioneering the next generation of eVTOL aircraft for commercial air taxi and air rescue roles, will explore the development of an advanced version of Urban Aeronautics' CityHawk eVTOL powered by HyPoint's cutting-edge, hydrogen fuel cell stack technology. CityHawk is currently designed to use hybrid propulsion.

Regional Analysis

Geographically, the countries covered in the sustainable aviation fuel market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in sustainable aviation fuel market during the forecast period 2022 - 2029

North America is dominating the global sustainable aviation fuel market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. The rising infrastructure, commercial, and aviation industrial developments in emerging countries such as U.S., Canada and Mexico are credited with the market's dominance. Also, existence of advanced healthcare technologies in this region is another reason for this region’s dominance in the global market.   

Asia-Pacific is estimated to be the fastest growing region in sustainable aviation fuel market the forecast period 2022 - 2029

Asia-Pacific is expected to grow during the forecast period due to the increasing passenger population and rapid development of infrastructural facilities in emerging economies in this region. In addition to this, rising private and public expenditure on the development of aviation industry infrastructure in the developing economies and increasing per-capita income are expected to propel the market's growth rate in this region.

COVID-19 Impact Analysis

COVID-19 has had a massive impact on global economic activity, requiring individuals, organisations, governments, and enterprises to react to the crises' issues. Air travel limitations in various regions have resulted in dormant fleets worldwide for domestic and international flights. The COVID-19 pandemic has had a disproportionate impact on the sustainable aviation fuel business, as it has on many other sectors, due to delays in production activity across numerous industries. The COVID-19 pandemic has had a disproportionate impact on the sustainable aviation fuel business, as it has on many other sectors, due to delays in production activity across numerous industries. Moreover, many of the older, less efficient planes that have been parked as part of the shrinkage will not be returned to service.

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