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Aviation Biofuels Market by Technology (Fischer-Tropsch, Hydrogenated Vegetable Oil), by Application (Military Aviation, Commercial Aviation), by North America (United States, Canada, Mexico), by Europe (Germany, France, Italy, United Kingdom, Spain, Nordics, Benelux, Rest of Europe), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of Middle East Africa), by Asia Pacific (China, Japan, India, South Korea, Taiwan, South East Asia, Australia, Rest of Asia-Pacific), by Latin America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The size of the Aviation Biofuels market was valued at USD 101.23 USD Billion in 2023 and is projected to reach USD 233.76 USD Billion by 2032, with an expected CAGR of 12.7 % during the forecast period. Aviation biofuels are renewable fuels produced from biological feedstocks for use in aviation with the hope of lessening the carbon footprint of the aviation business. They are primarily categorized into two types: first-generation biofuels which are obtained from food products like corn and sugarcane and second-generation biofuels which are extracted from feedstocks that are not for human consumption including straws, water hyacinth, algae among others. First-generation fuels may have effects on food stocks and land requirements while on second-generation fuels there are no such worries. Aviation biofuels can be described as having the following characteristics: The use of biofuels in aviation can produce fewer GHG emissions, they do not require modifications to be made to current jet engines, and can be co-blended with traditional jet fuels. Other uses may include their incorporation in business and military aircraft to make some improvements in the ecological friendliness of flying.
Aviation Biofuels Market Trends
Key market trends include:
Key Region:
Key Segment:
Technology:
Application:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 12.7 % from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 12.7 % from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
Primary Research
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