Aviation Biofuel Market | Industry Review and Global Forecast to 2025

Research Reports

Jan 20, 2021

Market Analysis

Global Aviation Biofuel Market is projected to be valued at USD 59.88 billion by 2025, expanding at a CAGR of 5.90% between 2019 and 2025. Growth in the air passenger traffic has significantly contributed to the growth of the aviation biofuel market. High competition owing to presence of large number of players in this market is forcing manufacturers to continuously focus on product innovation and development. Furthermore, airline operators are also shifting to the use of aviation biofuel to reduce greenhouse gas emissions and reduce global carbon footprint. For example, in May 2019, World Energy was awarded a contract by United Airlines to provide nearly 10 million gallons of aviation biofuel over the next two years.

Key Players

Air BP Limited (UK), World Energy (US), Chevron Corporation (US), Honeywell International Inc. (US), SkyNRG (The Netherlands), Renewable Energy Group, Inc. (US), TerraVia (US), SWEDISH BIOFUELS AB (Sweden), NXT Fuels Limited (New Zealand) and Red Rock Biofuels (US)

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Growth Opportunities in the Market

Hydrotreated Vegetable Oils (HVO) segment expected to witness the highest growth in the market: HVO offers benefits such as reduced greenhouse gas emissions, flexibility, low maintenance cost, high storage properties, and is odourless. Therefore, the segment is expected to witness the highest growth during the forecast period.

Global Aviation Biofuel Market has witnessed high growth in the recent years owing to growing concerns about environmental protection and global warming.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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