Bio jet is an aviation fuel made from renewable and naturally derived raw materials. It is mixed with petroleum jet fuel and is suitable for use in exiting jet engines. Bio jet fuels have lower greenhouse gas emissions as compared to petroleum jet fuel. The need for the use of environmental friendly jet fuel in order to reduce the greenhouse gas emissions from the aviation sector is a major driver for the bio jet market.
Market Dynamics
- Among feedstock, energy crops segment is gaining traction in the bio jet fuel market due to the fact that energy crops converted via gasification and Fischer-Tropsch (FT) synthesis can result in very low lifecycle GHG emissions. For instance, According to Briefing paper ‘Aviation biofuels: strategically important, technically achievable, tough to deliver’, published by Imperial College London in 2021, Bio jet GHG emissions caused due to energy crops are in the range of 9-13 gCO2e/MJ which is very lower as compared to other feedstock such as sugarcane (26 gCO2e/MJ). Therefore demand for energy crops is expected to increase in forecast period.
- Among regions, North America accounted for the largest market share in 2021 and is expected to dominate the market over the forecast period. For instance, In September 2020, Phillips 66 Company announced plans to fully convert its San Francisco Refinery in Rodeo, California, from crude oil processing to renewable fuels, using feedstock such as used cooking oil, fats, greases, and soybean oils. The refinery could produce as much as 680 million gallons/per year of renewable diesel, renewable gasoline, and SAF.
Key features of the study:
- This report provides in-depth analysis of Renewable/Bio Jet Fuel market and provides market size (Million Liters) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2022 – 2030), considering 2021 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
- It profiles leading players in the global Renewable/Bio Jet Fuel market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study includes, Gevo, Inc., Red Rock Biofuels LLC, Honeywell International Inc., Virent Inc., Fulcrum BioEnergy, Inc., Neste Oil Corporation, AltAir Paramount LLC, S.G. Preston Company, SkyNRG BV, and Eni SpA Total S.A., and BP PLC
- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future products launches, technology up-gradation, market expansion, and marketing tactics
- The global Renewable/Bio Jet Fuel market report caters to various stakeholders in this industry including investors, suppliers, Bio Jet Fuel manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global Renewable/Bio Jet Fuel market
Detailed Segmentation:
- Global Renewable/Bio Jet Fuel Market, By Conversion Pathway:
- Fischer TropschSynthetic Paraffinic Kerosene (FT-SPK)
- Hydroprocessed Esters and Fatty Acids (HEFA)
- Synthetic Iso-paraffin from Fermented Hydroprocessed Sugar (SIP)
- Alcohol to Jet SPK (ATJ-SPK)
- Global Renewable/Bio Jet Fuel Market, By Feedstock:
- Agriculture Crops
- Aquaculture Crops
- Energy Crops
- Municipal Solid Waste
- Others (Animal Fats, Sugar, etc.)
- Global Renewable/Bio Jet Fuel Market, By Geography:
- North America
- Europe
- U.K.
- Germany
- Italy
- France
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- Northern Africa
- Central Africa
- South Africa
- Company Profiles
- Gevo, Inc *
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- 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
