In Virginia, MarketDigits reported that the global SAF market is expected to reach a value of $15.7bn in 2030 compared to a value of $219 million in 2022. This represents a compound annual growth rate (CAGR) of 60.8% during the period.
“Many airlines and aviation companies are setting sustainability goals and actively seeking ways to reduce their carbon footprint. This creates a demand for sustainable aviation fuels as an alternative to traditional jet fuel,” the report said.
“Moreover, governments and regulatory bodies worldwide are introducing policies and incentives to support the production and use of sustainable aviation fuels. These measures encourage investment and research in the sector and facilitate the scaling up of production capacity,” it added.
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