- Europe’s Sustainable Aviation Fuel (SAF) market was valued at $96.9 million in 2022.
- Forecasted to reach $18.23 billion by 2033.
The value of Europe’s sustainable aviation fuel (SAF) market reached $96.9 million in 2022 and is projected to reach $18.23 billion by 2033. With a remarkable forecasted CAGR of 58.03% from 2023 to 2033.
This surge reflects global efforts to reduce greenhouse gas emissions from aviation. SAF, derived from renewable sources like algae and agricultural waste, is gaining traction as a cleaner alternative to traditional jet fuel.
Governments, airlines, and industry stakeholders drive investment and innovation in SAF. However, challenges such as the pace of deploying SAF production facilities and the availability of crucial feedstocks persist.
Such as municipal solid waste (MSW), biomass, and renewable power for green hydrogen production. Geopolitical tensions and external factors like the Russia-Ukraine conflict and supply chain disruptions also pose challenges.
Despite obstacles, Europe’s sustainable aviation fuel market signals a shift towards a greener aviation future.