In California, a report by QY Research stated that the global bio-based sustainable aviation fuel market was valued at $3.5 billion in 2024 and is anticipated to reach $17 billion by 2031.
The report stressed that the market is forecast to expand at a CAGR of 25.7% during the forecast period 2025-2031.
“The key players of bio-based SAF include Neste, World Energy and TotalEnergies. The top three players hold a share over 53%. Europe is the largest market, with a share about 68%. In terms of product type, HEFA is the largest segment, occupied for a share of about 94%. And in terms of application, commercial aircraft has a share of about 94%”, the report stated.
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