In New York, research firm MRFR/Market Research Future (MRFR) reported that the global SAF market is forecast to expand at a CAGR of 52.90% during the 2022-2032 period.
According to the report, the global SAF market is forecast to reach a market value of $18.26 billion by the end of 2032, up from nearly $400 million at end-2022.
“The global SAF market has advanced extremely in recent years. The primary features causing a surge in market performance are environmental concerns, the capacity to lower CO2 emissions considerably, and laws and regulations to encourage SAF use,” the report said.
“On the other hand, several parameters may have an adverse impact on the development of the global market for SAF. One of the primary constraints restricting the advancement of the market’s performance of the global market is the high prices associated with raw materials.”
The report also stated that the North American region secured a leading position across the global sustainable aviation fuel industry in 2022 with the largest contribution of nearly 45.80%.
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