Renewable/Bio Jet Fuel Market Size, Share, Outlook And Opportunity Analysis, 2018-2026

 

Renewable/Bio Jet Fuel Market
Renewable/Bio Jet Fuel Market

Aviation fuels made from biomass are thought to be a promising replacement for those made from traditional fossil fuels. Bio jet fuel can be used in existing aviation jet engines without needing to be modified. It is made from waste biomass, animal fats, sugars, and vegetable oils. Virgin Atlantic completed the first biojet fuel test flight in 2008.

Europe is the preferred location among regions for the large-scale production of bio jet fuel because of its extensive forest cover, well-organized sewage system, and expanding algae farming industry. The main feedstock used to produce biojet fuel is municipal solid waste and forest residues. Additionally, regional government policy is aimed at lowering carbon emissions by boosting the use of biojet fuel in the aviation sector. For instance, the European Commission set a goal to use 40% biojet fuel of all jet fuel consumed by 2050, reducing carbon emissions from the aviation industry by 60%.

The lack of a reliable source for the commercial production of biofuels, which has led to the current high prices for biojet fuel, is a major obstacle for the Renewable/Bio Jet Fuel Market. As a result, airline companies aren't purchasing large quantities of biojet fuel. Despite the demand for biojet and airline support, producers find it difficult to lower the cost of renewable fuel to compete with fossil fuels. Currently, biojet fuel is supplied using separate logistics, which raises costs and might cause a decline in demand.

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