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New report forecasts a bright future for the sustainable aviation fuel market

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https://en.travel2latam.com/nota/75302-new-report-forecasts-a-bright-future-for-the-sustainable-aviation-fuel-market
New report forecasts a bright future for the sustainable aviation fuel market
Source: ICAO
July 11, 2022

According to the report published by The Brainy Insights, the global SAF market is expected to grow to a value of 14768.43 million by 2030 at a CAGR of 59.91%


Increased numbers of aircraft and air passengers are anticipated to expand market demand for sustainable aviation fuel over the projection period. In addition, the increasing production of sustainable aviation fuel from wet waste due to inexpensive and widely available food waste, animal manure and other waste with high water content are the driving factors behind the growth of the market. Also, fluctuations in crude oil costs and contamination of lubricants are the factors that restrain the growth of the market. In addition, the development of safe and environmentally friendly aviation lubricants and the increased demand for low-density oils for less weight are opportunities for market growth.

To enhance their market position in the global sustainable aviation fuel market, key players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations, and partnerships.

For example, in March 2022, the Neste Company, in collaboration with DHL Express, announced one of the largest SAF deals in history. This deal is Neste's most prominent SAF and one of the aviation company's largest sustainable aviation fuel deals. This partnership will enhance Neste's current website by offering seamless connectivity around the world.

Market growth and trends

The growth of the sustainable aviation fuel market is driven by the increasing support from the governments of different countries and the increasing efficiency of sustainable aviation fuel. In addition, the increase in air transport and the consumption of synthetic lubricants is the growth trend of the market. In this way, the growing number of passengers traveling through air transport supported the growth of the market. In addition, air travel is essential to achieving economic growth and development. Donate to the growth of trade, tourism and employment opportunities. The aviation method is growing and will continue to grow, which will act as an essential determinant of market growth. 

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