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Alternative Fuel Market 2018 Global Industry Size, Share, Trends, Regional Analysis and Segements Overview by Fuel Types to 2023


Pune, India -- (SBWIRE) -- 07/10/2018 -- Aviation Alternative Fuel Market Recent Updates :

April 2018: Global Bioenergies and SkyNRG announced their collaboration on ASTM-certification of a bio-isobutene feedstock and alteration process for the production of sustainable aviation fuel.

April 2018: The city of St. Louis & St. Louis Lambert International Airport (STL) promoted Fleet of Alternative Fuel Automobiles.

December, 2017: GE Aviation Tested 100% Gevo renewable alcohol-to-jet fuel (ATJ) Fuel.

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Aviation Alternative Fuel Market Scenario

Usage of alternative fuels is largely encouraged across the globe, due to their various advantages over conventional fuels. Aviation alternative fuels are ecologically sustainable and easy to maintain during usage. These fuels are better than petroleum based fuels, owing to the higher air quality post combustion in the combustion chamber in the engine. Advanced biofuels are strong competitors for replacing petroleum based aviation fuels in the near future, as these fuels are equally safe while offering better performance.

Increasing concerns about environmental protection, climate change, and global warming is driving the aviation alternative fuels market. A number of companies, organizations, and governments are investing in research & development, and commercialization of aviation alternative fuels. New technological interventions have significantly reduced the cost of manufacturing these fuels, resulting in economical substitutes for petroleum based fuels. Moreover, rapid growth in the aviation industry is likely to boost the demand for aviation alternative fuels during the forecast period. Increasing trade is also expected to propel the aviation alternative fuels market.

However, several challenges and concerns also exist for this market. Storing biodiesel for long durations is difficult; if stored for longer period of time at lower temperature, these fuels tend to oxidize resulting in solidification. These fuels have the potential to curb the rising pollution and carbon emissions; however, biofuels directly compete with agriculture and food production for resources, and hence, are an added strain on agriculture. In addition, the high quality standards for fuels and their safe transportation during flights is also expected to impact the demand for these fuels.

Global Aviation Alternative Fuel Market is estimated to witness a CAGR of more than 10% during the forecast period.

Key Players

The key players in global aviation alternative fuel market Solazyme (U.S.), Honeywell UOP (U.S.), Imperium Renewables Inc. (U.S.), Renewable Energy Group Inc. (U.S.), Aquaflow Bionomic Corporation (New Zealand), Swedish Biofuels AB (Sweden), Altair Fuel (U.S.), Fulcrum BioEnergy Inc.(U.S.), SkyNRG (Netherlands), and Total S.A (France)

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Global Aviation Alternative Fuel Market Segmentation

In fuel type segmentation, the aviation alternative fuels market can be divided into biofuels, CNG, LNG, and others. Furthermore, biofuels can be further subdivided into Hydrogenated Easters & Fatty Acids (HEFA), Hydrogenated Pyrolysis Oil (HPO), Fischer-Tropsch (FT) based on biomass, and renewable Synthesized Iso-paraffin fuels (SIP). Among these, the biofuels sub-segment is anticipated to expand significantly, as it is in a rapid development stage. Biofuels are primarily made from vegetable oils such as camellia and jatropha, sugar crops, cereals, and algae. Thus, at present, the inventory is abundant.

Using alternative fuels in vehicles cuts the emission of greenhouse gases, hence positively impacting air quality. At the same time, traditional fuels such as petrol and diesel are expensive and also a major cause of environmental threats. Vehicles using alternative fuels have various advantages over conventional fuel driven vehicles. Biodiesel is a renewable fuel and its physical properties are similar to petroleum diesel. Biodiesels provide a cleaner substitute and have less emission as compared to other conventional fuels. Ethanol is made from plant-based materials such as sugarcane and other agro-waste materials, and is combined with gasoline to be used in alternative fuel vehicles.

Increase in demand for pilot training and reconnaissance aircrafts in military applications are going to be some of the key factors driving the growth of aviation fuel market in next few years. Rise in efficiency of the jet engines due to new innovations, usage of flight simulators for training and reduced economic prospects of the developed regions are some of the factors hindering the growth of the aviation fuels market.

Reducing the carbon footprints is a vital task for the aviation industry. One of the ways of going about it, is using alternatives such as biofuels, whose production cycle results in lesser carbon emissions, as compared to the conventional fuels. The companies that could include biofuels usage in their operations in future, hold opportunities for the growth of aviation fuel additives.

Geogrpahic Overview

The market for aviation alternative fuels can be segmented into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. At present, regions such as North America and Europe are the key markets for aviation alternative fuels. Existence of strict government regulations, robust technological developments, awareness regarding environmental protection, and big investments are some of the factors pushing the growth of aviation alternative fuels in these regions. Asia Pacific is also estimated to be a significant market for aviation alternative fuels; China and India, are expected to witness substantial increase in number of passengers traveling by air transport per annum during the forecast period. The market in Latin America, especially in Brazil, is also expected to expand considerably in the near future.

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