Global SAF market to reach $3 billion by 2034, research finds

July 16, 2024 |

In California, Prophecy Market Insights reported that the global sustainable aviation fuel market is expected to grow at a CAGR of 11.6% between 2024 and 2034. The report stated that the market is expected to generate revenues of $1.1 billion in 2024 and expand to $3 billion by 2034. “The Asia-Pacific region is gaining momentum for sustainable aviation fuel development and adoption, with significant investments, collaborations, and policy support driving growth in five countries: Australia, Singapore, Japan, Malaysia, and Thailand, making the region a key hub for SAF adoption,” the report stated. “Governments in North America, such as the United States and Canada, are currently focused on a number of programs intended to realize the use of renewable aviation fuel in order to meet the growing demand for reduced carbon footprints resulting from increased air travel and traffic. Encouraging policies and efforts to decarbonize aviation emissions create the perception that North America will be one of the major demand centers for sustainable aviation fuel.”

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Category: SAF

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