In Florida, Markets and Markets reported that the global aviation fuel market size is estimated to reach $696.2 billion by 2030, up from $249.9 billion in 2022. The report noted that the market is expected to grow at a CAGR of 13.7% during the forecast period. “Demand to reduce emissions and rising initiatives by governments to adopt sustainable aviation fuel are expected to drive the growth of the market. The global demand and substantial challenges to reduce emissions of greenhouse gases and improve environmental sustainability in the face of rapid growth have led to the emergence of the SAF market significantly,” the report stated. “The global demand and substantial challenges to reduce emissions of greenhouse gases and improve environmental sustainability in the face of rapid growth have led to the emergence of the SAF market significantly. Several agreements, contracts, partnerships, etc., have been made for a certain period of time by various stakeholders of the entire demand and supply chain of the SAF market. Several airlines have concluded long-term offtake agreements with biofuel suppliers, many of which are reported as commercially competitive,” it added.
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