Global Bio Jet Fuel
Market Report
2024
The global Bio biojet fuel market size will be USD 172.6 million in 2024. Growing focus on sustainability is expected to boost sales to USD 556.36 million by 2031, with a Compound Annual Growth Rate (CAGR) of 18.20% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Bio Jet Fuel market size will be USD 172.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 18.20% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Bio Jet Fuel Market Sales Revenue 2024 | $ 172.6 Million |
Global Bio Jet Fuel Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 18.2% |
North America Bio Jet Fuel Market Sales Revenue 2024 | $ 69.04 Million |
North America Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.4% |
United States Bio Jet Fuel Sales Revenue 2024 | $ 54.47 Million |
United States Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.2% |
Canada Bio Jet Fuel Sales Revenue 2024 | $ 8.28 Million |
Canada Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.2% |
Mexico Bio Jet Fuel Sales Revenue 2024 | $ 6.28 Million |
Mexico Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.9% |
Europe Bio Jet Fuel Market Sales Revenue 2024 | $ 51.78 Million |
Europe Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.7% |
United Kingdom Bio Jet Fuel Sales Revenue 2024 | $ 8.7 Million |
United Kingdom Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.5% |
France Bio Jet Fuel Sales Revenue 2024 | $ 4.76 Million |
France Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 15.9% |
Germany Bio Jet Fuel Sales Revenue 2024 | $ 10.25 Million |
Germany Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.9% |
Italy Bio Jet Fuel Sales Revenue 2024 | $ 4.45 Million |
Italy Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.1% |
Russia Bio Jet Fuel Sales Revenue 2024 | $ 8.03 Million |
Russia Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 15.7% |
Spain Bio Jet Fuel Sales Revenue 2024 | $ 4.25 Million |
Spain Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 15.8% |
Rest of Europe Bio Jet Fuel Sales Revenue 2024 | $ 8.03 Million |
Rest of Europe Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 15.4% |
Asia Pacific Bio Jet Fuel Market Sales Revenue 2024 | $ 39.7 Million |
Asia Pacific Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 20.2% |
China Bio Jet Fuel Sales Revenue 2024 | $ 17.86 Million |
China Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 19.7% |
Japan Bio Jet Fuel Sales Revenue 2024 | $ 5.48 Million |
Japan Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 18.7% |
Korea Bio Jet Fuel Sales Revenue 2024 | $ 3.97 Million |
Korea Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 19.3% |
India Bio Jet Fuel Sales Revenue 2024 | $ 4.76 Million |
India Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 22% |
Australia Bio Jet Fuel Sales Revenue 2024 | $ 2.06 Million |
Australia Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 19.9% |
Rest of APAC Bio Jet Fuel Sales Revenue 2024 | $ 2.82 Million |
Rest of APAC Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 20% |
South America Bio Jet Fuel Market Sales Revenue 2024 | $ 8.63 Million |
South America Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.6% |
Brazil Bio Jet Fuel Sales Revenue 2024 | $ 3.69 Million |
Brazil Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 18.2% |
Argentina Bio Jet Fuel Sales Revenue 2024 | $ 1.45 Million |
Argentina Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 18.5% |
Colombia Bio Jet Fuel Sales Revenue 2024 | $ 0.77 Million |
Colombia Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.4% |
Peru Bio Jet Fuel Sales Revenue 2024 | $ 0.71 Million |
Peru Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.8% |
Chile Bio Jet Fuel Sales Revenue 2024 | $ 0.62 Million |
Chile Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.9% |
Rest of South America Bio Jet Fuel Sales Revenue 2024 | $ 1.39 Million |
Rest of South America Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.7% |
Middle East and Africa Bio Jet Fuel Market Sales Revenue 2024 | $ 3.45 Million |
Middle East and Africa Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.9% |
Turkey Bio Jet Fuel Sales Revenue 2024 | $ 0.3 Million |
Turkey Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17.4% |
Nigeria Bio Jet Fuel Sales Revenue 2024 | $ 0.36 Million |
Nigeria Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 17% |
Egypt Bio Jet Fuel Sales Revenue 2024 | $ 0.36 Million |
Egypt Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 18.2% |
South Africa Bio Jet Fuel Sales Revenue 2024 | $ 0.55 Million |
South Africa Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 18.9% |
GCC Countries Bio Jet Fuel Sales Revenue 2024 | $ 1.48 Million |
GCC Countries Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 18.7% |
Rest of MEA Bio Jet Fuel Sales Revenue 2024 | $ 0.41 Million |
Rest of MEA Bio Jet Fuel Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 16.9% |
Market Drivers:
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Market Restrains:
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Market Trends:
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Market Split by Feedstock and technology |
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Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Bio Jet Fuel industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Bio Jet Fuel Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Biojet fuel, also known as aviation turbine fuel (ATF), is a specific type of petroleum-based fuel used to power jet and turboprop aircraft. Jet A1 and jet A are the two main types of aviation fuel utilized in the commercial aircraft industry. The demand for sustainable green energy production is growing rapidly all over the world. The majority of CO2 emissions are caused by the combustion of conventional fuel in the aviation industry. This greenhouse gas release contributes to global warming and ocean acidification. Biojet fuel is a possible alternative to conventional aviation fuel for sustainable development. Conventional aviation fuel flights contribute around 60-70% of CO2 emissions. The global biojet fuel market is predicted to rise due to significant reasons such as research and development programs aimed at lowering carbon emissions and government incentives to adopt bio-based fuels.
In July 2021, Fulcrum BioEnergy finished the building of Sierra BioFuels Plant, the world's first commercial-scale plant capable of converting domestic waste and MSW into transportation fuel. (Source: https://biorrefineria.blogspot.com/2021/07/Fulcrum-BioEnergy-completes-construction-of-its-first-waste-to-fuels-plant.html)
This increasing need to reduce GHG emissions acts as a key driver for the Bio Jet Fuel market. With the increasing global concerns about the environment, the aviation industry is under pressure to minimize its emissions and attain a greener world. The bio jet fuels step in as alternatives because they have much lower GHG emissions compared to traditional jet fuels. The move is consistent with global efforts to combat climate change and meet emission reduction targets. With more focus on green solutions by governments and airlines, the need from consumers is increasing, and bio-jet fuels are viewed as an important solution in lessening aviation's impact on the environment.
The growing concern towards sustainability in the Bio Jet Fuel market is a factor of increased global awareness regarding the environment and the commitment the industry is making towards reducing the carbon footprint left by aircraft. This keen interest by various stakeholders in ensuring sustainable operations for standing up to regulations and customer expectations drives demand for cleaner alternatives. This mounting wave of sustainability, in many ways, generates demand for bio-jet fuels that are relatively cleaner than traditional jet fuel. Now that airlines, governments, and consumers are finally acknowledging sustainable aviation options, the industry is really putting itself on a fast track to adopt biojet fuels as a mitigative strategy against the environmental impact of flying.
High production costs in the Bio Jet Fuel market challenge the growth in this field. Production of biojet fuels is in fact, a complex process in the selection, processing, and refining of the feedstock. The low economies of scale of the production plants and the expensive special machinery used work to increase the cost further. These are the high production costs that make bio jet fuels less competitive in the market compared to traditional jet fuels. On the cost barriers, strategic efforts are required in leapfrogging technologies and economies of scale to make biojet fuel more economically viable and accessible to the aviation industry.
The COVID-19 epidemic had a significant impact on the global financial system and the lives of people. With the global breakout of COVID-19, many enterprise companies have limited their scheduled operations due to lockdowns imposed by governments around the world. The lockdown has mostly impacted significant corporate organizations. The authorities' lockdown initiative resulted in a temporary shutdown of the tourism and aviation industries, among others. This had a negative impact on the growth of the bio-jet fuels market.
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The competitive landscape of the Bio Jet Fuel Market is represented by a host of key players who are very proactive in driving innovation and growth in the sector. These companies lead in terms of research and development, production, and commercialization of sustainable aviation fuel. This also gave rise to greater collaboration among biofuel producers, airlines, and government bodies looking to shape this competitive landscape by creating partnerships that would rapidly accelerate the use of biojet fuels in the aviation industry.
In November 2022, Gevo, Inc. announced a new fuel sales agreement with Iberia Airlines, a subsidiary of International Airlines Group (IAG). According to the deal, Gevo will supply Iberia Airlines with 6 million gallons of sustainable aviation fuel per year for five years, beginning in 2028. The agreement's projected worth, including environmental benefits, is $165 million over the stated period. (Source: https://investors.gevo.com/news-releases/news-release-details/iberia-airlines-enters-new-fuel-sales-agreement-gevo-6-million) In February 2022, Boeing announced a supply arrangement with EPIC Fuels for two million gallons of blended renewable aviation fuel to power its commercial operations in Washington State and South Carolina by the end of 2022. (Source: https://biofuels-news.com/news/boeing-buys-2-million-gallons-of-saf-for-commercial-operations/)
Top Companies Market Share in Bio Jet Fuel Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominates the Bio Jet Fuel Market with its advanced biofuel production technologies, supportive regulatory environment, and strong commitment to sustainability in the aviation sector. The region is one that constantly ventures a lot of money into R&D, with key consideration at times given to commercial applications of biojet fuels. Besides, a leadership position in the market is maintained due to the existence and operation of a well-developed aviation industry, as well as strategic partnerships with biofuel producers in the region.
The Asia Pacific region is the fastest growing for Bio Jet Fuel market owed to rapid economic growth, increasing air-travel demand, and rising awareness toward environmental issues. The countries in the region are making investments in sustainable aviation solutions in an attempt to minimize carbon emissions and cyclic change. Backed by heavy investments in biofuel infrastructure developments in the Asia Pacific, government initiatives favoring the adoption of alternative and renewable energy sources, as well as deals between biofuel producers and airlines, the Asia Pacific region controls a major share in the biojet fuel market.
The current report Scope analyzes Bio Jet Fuel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global Bio Jet Fuel market size was estimated at USD 172.6 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 69.04 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2031.
According to Cognitive Market Research, the global Bio Jet Fuel market size was estimated at USD 172.6 Million, out of which Europe held the market of more than 30% of the global revenue with a market size of USD 51.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2031.
According to Cognitive Market Research, the global Bio Jet Fuel market size was estimated at USD 172.6 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 39.70 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.2% from 2024 to 2031.
According to Cognitive Market Research, the global Bio Jet Fuel market size was estimated at USD 172.6 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 8.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.6% from 2024 to 2031. .
According to Cognitive Market Research, the global Bio Jet Fuel market size was estimated at USD 172.6 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 3.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.9% from 2024 to 2031..
Global Bio Jet Fuel Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Bio Jet Fuel Industry growth. Bio Jet Fuel market has been segmented with the help of its Feedstock and technology, Type Application, and others. Bio Jet Fuel market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, the second-generation category dominates the worldwide biojet fuels market. The production of biodiesel in a variety of international locations has assisted manufacturers in reducing their reliance on foreign oil reserves, as it is produced in large quantities and can be used in any diesel engine with minimal changes to the engine or gasoline system. Biodiesel is becoming a low-cost choice as the prices of petroleum-based products fluctuate, which is expected to support the expansion of the second-generation biofuels market.
The Fourth Generation segment forms the rapidly growing segment of the Bio Jet Fuel Market. It is the most advanced technology, highly efficient, and more sustainable than earlier generations; hence, it is attracting considerable attention. Advanced performance characteristics with better environmental benefits are some of the factors that make the fourth-generation product a preferred choice for the industry shift towards sustainable fuel alternatives for the aviation industry..
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Bio Jet Fuel Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the Hydroprocessed Esters and Fatty Acids (HEFA) category dominates the global biojet fuel market. Individuals' growing awareness of the depletion of natural fossil fuel resources, along with the availability of alternative, environmentally acceptable fuels, has increased demand for bio-jet fuel. The availability of ample feedstock and undeveloped waste resources as feedstock benefits the production of hydrogenated vegetable oil.
The Fischer-Tropsch process is the fastest-growing segment of the biojet fuel market. This process involves converting syngas, synthesis gas from biomass or waste material, into liquid hydrocarbons; bio-jet fuel is one of its parts. The Fischer-Tropsch process enjoys growing popularity because of its versatility, efficiency, and capability to produce high-quality jet fuel that meets all standards in the aviation industry.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Bio Jet Fuel market report 2024 Edition by contacting our team.
According to Cognitive Market Research, the commercial segment dominates the global market for biojet fuels. The rapid expansion of the commercial aviation sector as a result of developing countries around the world has a significant impact on demand for conventional fuel. To meet the increasing demand that will lead to global warming, bio-jet fuels have been used, which are sustainable fuels with a lower environmental impact than conventional fuel.
Military is the fastest-growing segment of the Bio Jet Fuel Market. Biojet fuel consumption in this sector has rapidly increased to reduce carbon emissions and to provide better energy security. The commitment towards sustainability and environmental responsibility was expected to drive the rapid growth in biojet fuel consumption within the military sector.
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Conclusion
Disclaimer:
Feedstock and technology | First Generation, Second Generation, Third Generation, Fourth Generation |
Type | Hydroprocessed Esters and Fatty Acids (HEFA), Fischer–Tropsch process, Others |
Application | Commercial, Military, Private |
List of Competitors | Archer Daniels Midland Company, Argent Energy, GEVO, Honeywell International Inc., KFS Biodiesel GmbH & Co KG, Petrosun, Inc., Red Rock Biofuels, Shirke energy, Targray Technology International Inc., Vega Biofuels |
This chapter will help you gain GLOBAL Market Analysis of Bio Jet Fuel. Further deep in this chapter, you will be able to review Global Bio Jet Fuel Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Bio Jet Fuel Market Trends North America Bio Jet Fuel Technological Road Map North America Bio Jet Fuel Market Drivers North America Bio Jet Fuel Market Restraints North America Bio Jet Fuel Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Feedstock and technology Analysis 2019 -2031, will provide market size split by Feedstock and technology. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Feedstock and technology Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Type Analysis 2019 -2031
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Chapter 12 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Bio Jet Fuel market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why First Generation have a significant impact on Bio Jet Fuel market? |
What are the key factors affecting the First Generation and Second Generation of Bio Jet Fuel Market? |
What is the CAGR/Growth Rate of Hydroprocessed Esters and Fatty Acids (HEFA) during the forecast period? |
By type, which segment accounted for largest share of the global Bio Jet Fuel Market? |
Which region is expected to dominate the global Bio Jet Fuel Market within the forecast period? |
Segmentation Level Customization |
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Country level Data Customization |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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