Global SAF market to experience exponential growth until 2050, research finds
In Delaware, Transparency Market Research reported that the global SAF market is projected to witness exponential growth over the coming decades.
According to market estimates, the industry is expected to expand at a compound annual growth rate (CAGR) of 26.2% from 2022 to 2050, ultimately reaching an estimated $402.0 billion by 2050.
“The aviation sector is currently responsible for approximately 3% of global greenhouse gas emissions and is categorized as a hard-to-abate industry due to the limited availability of low-carbon alternatives. With air passenger demand projected to exceed 10 billion journeys annually by 2050, sustainable aviation fuel is expected to play a crucial role in mitigating emissions,” the firm said.
“Industry experts estimate that 450-500 million tons of renewable jet fuel will be required annually by 2050 to achieve net-zero aviation targets,” it added.
Category: Fuels
