Bio-Jet Fuels Market Report from The Delvens highlights on deep analysis of market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, Key Competitors market shares, and strategies that are key to the Global market. These Bio-Jet Fuels market insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.
The global Bio-Jet Fuels market size was estimated at USD 564.14 million in 2023 and is projected to reach USD 15478.16 million in 2030 at a CAGR of 60.50% during the forecast period 2023-2030.
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Biojet fuel, or aviation turbine fuel (ATF), is a special form of petroleum-based fuel used to power jet and turbo-engined aircraft. Jet A1 and jet A are the two main jet fuels used by commercial airlines. The need to develop sustainable green energy is growing significantly worldwide. The majority of carbon dioxide emissions come from the burning of conventional fuel used in the aviation industry. These greenhouse gases contribute to global warming and ocean acidification. From the point of view of sustainable development, biofuel is a promising alternative to traditional jet fuel. About 60-70% of CO2 emissions are caused by flights using conventional jet fuel. Therefore, it is important to increase the use of biofuels in aviation.
Competitive Landscape of Bio-Jet Fuels market:
· Archer Daniels Midland Company
· Argent Energy
· GEVO
· Honeywell International Inc.
· KFS Biodiesel GmbH & Co KG
· Petrosun, Inc.
· Red Rock Biofuels
· Shirke energy
· Targray Technology International Inc.
· Vega Biofuels
· Virent Inc.
· Fulcrum BioEnergy, Inc
· Neste Oil Corporation
· AltAir Paramont LLC
· S.G. Preston Company
· SkyNRG BV
· Total S.A.
· Sundrop Fuels, Inc
· Hypoint, Inc
· ZeroAvia, Inc
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Key Findings
· The technology segment is further fragmented into First Generation, Second Generation, Third Generation, and Fourth Generation. The second-generation segment dominates the global bio jet fuels market.
· The type segment is further bifurcated into Hydrogenated Vegetable Oil (HVO) and Fischer-Tropsch (FT). The hydrogenated vegetable oil (HVO) segment dominates the global bio jet fuels market.
· The application segment is further bifurcated into Commercial, Military and Private. The commercial segment dominates the global biofuels market.
· The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period.
Recent Developments
· In February 2022, Engie SA and the U.S. engineering company Infinium Holdings announced a US$ 500-million project to produce renewable aviation and maritime fuels in northern France. The final investment decision for the project is planned for the end of 2023, with commercial operations expected to start in 2026.
· In February 2022, Boeing announced a supply agreement for two million gallons of blended renewable aviation fuel with EPIC Fuels to power its commercial operations in Washington state and South Carolina by the end of 2022.
Reasons to Acquire
· Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
· Gain authentic and granular data access for the Bio-Jet Fuels Market to understand the trends and the factors involved in changing market situations.
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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In addition to the market data for the Bio-Jet Fuels Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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