Research focused on Opening up the Aviation Biofuel Market
Aviation Biofuel Market: Overview
The first generation aviation biofuel could not meet up the price expectations thus the second generation sustainable biofuel was developed. The market for the aviation biofuel provides alternative for the traditional jet fuel; it is generated from the plant material and the natural feedstock such as algae, jatropha, and halophytes.
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Aviation Biofuel Market: Facts
The Hong Kong flag carrier Cathay Pacific has taken the initiative of switching to the biofuels that will be generated from the landfill rubbish on the select long-haul flights which is an effort made by them to reduce the harmful emissions in the environment. The Cathay flights from the U.S. to the Hong Kong, where the new fuel will be generated, will make use of the combination of the conventional jet fuel and biofuels.
Aviation Biofuel Market: Segmentation
The global market for the aviation biofuel is fragmented into production technology and the feedstock. On the basis of the production technology, the global market is segregated into Fischer-Tropsch and hydrogenated vegetable oil. On the basis of the feedstock, the market is categorized into Cassava, Industrial and municipal waste, algae, sugarcane, grasses, jatropha, and sweet sorghum.
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Aviation Biofuel Market: Growth Factors
In the aviation sector, the conventional jet fuels are used which are extracted under strict regulations from the kerosene fraction of crude oil. The airport transportation has increased in the recent years thus increasing the need for the biofuels. There are several types of biofuels available in the market such as liquid, electrification, and gaseous; among which the liquid biofuel is used at an increased rate due to its high specific energy content. In the coming years, the market for the aviation biofuel will experience a robust market growth owing to the rise in the concerns for reducing the CO2 gas emission. There has been an increased demand for the bio-jet fuel due to the increasing international trade. The challenge that is being faced by the aviation biofuel market is the strict regulations that are implemented on maintaining the standard specifications while generating the aviation biofuel.
Aviation Biofuel Market: Regional Analysis
The region that will be dominating the aviation biofuel market is the North America. In the North America, it is the U.S. that contributes the major share in the market. There is a rapid growth being experienced in the civil aviation sector thus increasing the demand for the aviation biofuel. North America is being followed by the European nations. In Norway, the Oslo city has the airport that delivers the jet biofuel. The trend of substituting into ‘bioport’ in order to provide aviation biofuel augments to trigger the aviation biofuel market in the coming years. The other nations such as Australia are taking efforts in order to adapt the new concept of the bioport. There is a wide range of opportunities in the emerging economies such as China and India which boosts the growth of the market.
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Aviation Biofuel Market: Competitive Players
The key market players that are involved in the aviation biofuel market include Red Rock Biofuels, Vega Biofuels, GEVO, PetroSun, Inc., Archer Daniels Midland Company, Honeywell International Inc., Targray Technology International Inc., Argent Energy, KFS Biodiesel GmbH & Co. KG, and Shirke Energy.
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