Neste, BP p.l.c, and Preem AB. were dominating the Global Sustainable Aviation Fuel Market in 2021

Global Sustainable Aviation Fuel Market is expected to grow with the CAGR of 47.9% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.

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Global sustainable aviation fuel market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global sustainable aviation fuel market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance:

  • In March 2022, Neste in collaboration with DHL Express announced one of the largest ever sustainable aviation fuel deals. This agreement is Neste’s largest for Sustainable Aviation Fuel (SAF) to date and one of the largest SAF agreements in the aviation industry. This collaboration will enhance Neste’s current network by offering seamless connectivity all over the world

Neste is the dominating player in global sustainable aviation fuel market. The other key players existing in the market Gevo, VELOCYS, Fulcrum BioEnergy, SkyNRG, World Energy, Avfuel Corporation, Eni, SASOL, Honeywell International Inc., Chevron Corporation, ZeroAvia, Inc., TotalEnergies, Exxon Mobil Corporation, Johnson Matthey, Prometheus Fuels, Cepsa, HyPoint Inc., Preem AB., LanzaTech, VIRENT, INC., and BP p.l.c. among others.

Neste

Neste was founded in the year 2005 and is headquartered in Espoo, Finland. The company focuses on creating sustainable solutions for transport, aviation, polymers, and chemicals sectors. The company has several product categories including renewable road transport, sustainable aviation, renewable & recycled plastics, renewable chemicals, marine, base oil and fossil product of which sustainable aviation is the focused category. The company operates in various business segments such as renewable products, oil products, marketing and services and others of which renewable products is the market focused category. The subsidiaries of the company are Mahoney Environmental, Inc. (Finland), Agri Trading Corporation (U.S), Neste Shipping Oy (Finland), Neste Markkinointi Oy (Finland), UAB Neste Lietuva (Finland) and others.

For instance,

  • In March 2022, Neste has signed definitive agreements for the establishment of a 50/50 joint venture with US-based Marathon Petroleum (Marathon). The joint venture will produce renewable diesel. This joint venture will help Neste in exceeding its product portfolio as it will bring a substantial amount of renewable diesel to customers in the US

The company has wide presence across North America, South America, Europe, Asia-Pacific, Middle East and Africa.

BP p.l.c.

BP p.l.c. was founded in the year 1908 and is headquartered in London, U.K. The company is engaged in oil and natural gas exploration, field development and production, midstream transportation, storage, and processing and it also include the refining, manufacturing, marketing, transportation, supply, and trading of crude oil, petroleum, and petrochemicals products. The company has several product categories including BP gas/petrol stations, fuel cards and credit cards, lubricants of which lubricants is the focused category. The company operates in various business segments such as oil production & operations, customers & product, and gas & low carbon energy of which gas & low carbon energy is the market focused category. The subsidiaries of the company are BPX Production Company (U.K.), Castrol (U.K.), Atlantic Richfield Company (U.S.), Aral(Germany), BP Pulse(England) and others

For instance,

  • In March 2022, BP p.l.c. ventures have made a £3 million equity investment in Flylogix – a pioneering unmanned aerial vehicle (UAV) business that uses drones to aid methane detection. These BP ventures focus on connecting and growing new energy businesses and current networks by offering seamless connectivity all over the world

The company has presence in North America, South America, Europe, Asia-Pacific, Middle East and Africa.

Preem AB.

Preem AB. was founded in the year 2007 and is headquartered in Stockholm, Sweden.  The company conducts extensive refinement of crude oil and the sale of petroleum products. It refines and sells gasoline, diesel, heating oil, and renewable fuels. The company has several product categories including gasoline, diesel, fuel oil, lubricating oil of which fuel oil is the market focused category.

For instance,

  • In December 2021, Preem AB. and Vattenfall took their fossil-free hydrogen biofuel collaboration to the next level. Vattenfall and Preem are investigating the large-scale production of fossil-free hydrogen in Lysekil. Vattenfall is a leading European energy company that for more than 100 years has electrified industries, delivered energy to the consumers. This collaboration helps in improving the product portfolio of the company

The company has presence across North America, South America, Europe, Asia-Pacific, Middle East and Africa.