Sustainability and Environment
Sustainable Aviation Fuel Market To Hit $60B by 2030
Based on projected demand and production increases Market Research Future sees the global aviation biofuel industry market reaching $60 billion by 2030.
Flasks of sustainable aviation fuel samples await testing in the lab at Paramount, California-based World Energy. (Photo: Curt Epstein/AIN)
Flasks of sustainable aviation fuel samples await testing in the lab at Paramount, California-based World Energy. (Photo: Curt Epstein/AIN)

A new report from Market Research Future predicts the sustainable aviation fuel (SAF) market will be worth $60 billion by 2030. According to the report, liquid biofuels—through their energy content and lower life cycle carbon benefits—are currently the most advanced substitute for conventional petroleum-based fuels, considering the aviation industry’s focus on reducing its carbon emissions. The report also cites that the growing environmental awareness in the 21st century will make the sustainable fuel sector an evergreen one.