- Algal Biofuel
- Plant Biofuel
- Others
North America Renewable Aviation Fuel Market size was valued at USD x billion in 2023 and is poised to grow at a CAGR of x% from 2024-2030. In addition, North America Renewable Aviation Fuel market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed North America Renewable Aviation Fuel market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the North America Renewable Aviation Fuel market report include suppliers, manufacturers, marketers, policy makers, and recent market activities.New innovations and developments are undertaken by the major players in the market which strengthens its position. For instance, research is being done on alcohol-to-jet pathway, where alcohols such as ethanol or butanol are de-oxygenated and processed into jet fuels. Furthermore, various key players are focused towards increasing production bio jet fuels which propels the growth of renewable aviation market.
However, a major challenge for the bio jet fuel market, is the lack of a viable source for the production of biofuels on a commercial scale which has resulted in the current high bio jet fuel prices, which is leading to the airline companies not buying bio jet fuel on a large scale. Despite the need and airline support for bio jet, producers struggle to make renewable fuel cost-competitive with fossil fuels. Currently, bio jet fuel is supplied through segregated logistics which leads to higher costs which may reduce its demand. Players operating in the North America renewable aviation fuel market are adopting various growth strategies such as plant's capacity expansion to cater to increasing demand for Bio Jet Fuel. For instance, In July 2018, Red Rock Biofuels started construction of a new bio refinery facility in Lakeview, Oregon for the project aiming to convert 136,000 tons of waste woody biomass into 15.1 million gallons/year of renewable fuels. Furthermore, various key players are focused towards increasing production bio jet fuels. For instance, In September 2018, Fulcrum Bioenergy, Inc. announced plans to enter into partnership with Marubeni Corporation, Japan Airlines Co. Ltd. (JAL), and the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN). The strategic partnership aims at development of sustainable aviation fuels that will include a US$ 8 million investment by the airline in waste-to-jet fuel process of Fulcrum.
North America Renewable Aviation Fuel Market Dynamics
Renewable fuels have gained in popularity due to their sustainability, low contributions to the carbon cycle, and in some cases lower amounts of greenhouse gases. The geo-political ramifications of these fuels are also of interest, particularly to industrialized economies which desire independence from Middle Eastern oil. Increase in the Air Passengers in the Emerging Economies Driving the Aviation Fuel Market. Demand for aviation fuel has increased significantly over the last two years owing to the rise in airline passenger traffic. As per the International Civil Aviation Organization (ICAO), 3.97 billion passengers flew on scheduled flights around the world in 2017. According to the International Air Transport Association, this passenger number represented a growth of XX% y-o-y, as measured by revenue passenger kilometers (RPKs). These factors contribute to the increasing demand for aviation fuel, which has been one of the strongest performers among transportation fuels in recent years. Expanding middle class in emerging countries, diverging demographic outlooks, and liberalization of aviation markets are some of the major factors to be considered for the increase in air passengers count every year.
Country Analysis
North America Renewable Aviation Fuel Market
North America renewable aviation fuel market is one of the largest markets for both the aviation industry and renewable aviation fuel. An improving economy both at home and North Americal 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. 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.
Latin America
Europe
Asia Pacific
Middle East
North America
North America Renewable Aviation Fuel Market Segmentation
By Product Type
By Application
- Commercial
- Defense
By Country
- US
- Canada
Frequently Asked Questions
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019 to 2023) and forecast (2024 to 2030)
- The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup's details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
- The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market
- Gevo, Inc.
- Red Rock Biofuels LLC.
- Honeywell International Inc.
- Virent Inc.
- Fulcrum BioEnergy, Inc.
- Neste Oil Corporation,
- AltAir Paramount LLC
- G. Preston Company
- SkyNRG BV
- Eni SpA Total S.A
- BP PLC