AP NEWS

Bio Jet Fuel Market Growing Impassively at CAGR of 17.3% by 2026 with Top Vendors like Honeywell International Inc., Gevo, Inc., Red Rock Biofuels LLC, Virent, Fulcrum BioEnergy

January 23, 2019

SEATTLE--(BUSINESS WIRE)--Jan 23, 2019--The global Bio Jet Fuel market was pegged at 6,888.6 Mn Liters in 2017 and is projected to exhibit a CAGR of 17.3 over the forecast period (2019–2026).

Key Trends and Analysis of the Bio Jet Fuel Market:

Increasing demand for environmentally safe renewable fuel is expected to propel growth of the Bio Jet Fuel market. According to a report ‘Biofuels For Aviation’ published by International Renewable Energy Agency in 2017, carbon dioxide (CO 2 ) emissions from international aviation accounted to 448 megatons (Mt) in 2010, and increase in emissions is forecasted ranging from 682 Mt to 755 Mt by 2020, and will reach 2,700 Mt by 2050 if no action is taken on reducing GHG emissions. Therefore biomass based aviation fuel which has lower GHG emissions will have higher demand in forecast period. Furthermore, report also states that fuel consumption for international aviation will reach 852 million tons by 2050 requiring 426 Mt of bio-jet to meet the GHG emissions-reduction goals.

Request Sample Pages of this Report @

Various key players are focused towards increasing production of renewable fuels. For instance, In December 2018, Neste invested US$ 1.6 billion in Singapore for additional renewable fuel production capacity. Company aims to extend renewable product overall capacity in Singapore by up to 1.3 million tons per annum, which is expected to reach 4.5 million tons annually in 2022.

To know the latest trends and insights prevalent in this market, click the link below:

Key Market Takeaways:

North America held significant market share in the global Bio Jet Fuel market in 2017. North America bio jet fuel market was pegged at 3,356.8 Mn Liters in 2017, and is projected to increase to 13,139.5 Mn Liters by 2026, witnessing a CAGR of 16.6% during the forecast period. Moreover, U.S. Air Force aims to replace 50% of conventional fuels (accounting around 3.8 Bn Litre) with renewable alternatives. Increasing initiatives to upscale the production of bio jet fuel are also expected to propel growth of the market in North America. For instance, Fulcrum Bioenergy and Red Rock Biofuels are constructing their bio jet fuel manufacturing plant in the U.S. and expecting to commence commercial production from 2020. Some of the major players operating in the global Bio Jet Fuel market include Gevo, Inc., Red Rock Biofuels LLC, Honeywell International Inc., Virent Inc., Fulcrum BioEnergy, Inc., Neste Oil Corporation, AltAir Paramount LLC, S.G. Preston Company, SkyNRG BV, and Eni SpA Total S.A., and BP PLC

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190123005473/en/

CONTACT: Mr. Shah

Coherent Market Insights

1001 4th Ave,

#3200

Seattle, WA 98154

Tel: +1-206-701-6702

Email: sales@coherentmarketinsights.com

KEYWORD:

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY OIL/GAS OTHER ENERGY TRANSPORT AIR

SOURCE: Coherent Market Insights

Copyright Business Wire 2019.

PUB: 01/23/2019 10:00 AM/DISC: 01/23/2019 10:01 AM

http://www.businesswire.com/news/home/20190123005473/en

AP RADIO
Update hourly