Global Aircraft Jet fuel Market Research Report (Business Opportunities - Marketing & Sales)
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Global Aircraft Jet fuel Market Research Report | |
Free Online Advertising Free Internet Web Site Advertising. UK Free Classifieds United Kingdom Free Ads Website. 100% Free Ad Posting. Canada Free Ads Popular Online Classifieds in Canada. No Sign up, No Email Required to Post. Industry Overview Aircraft jet fuel, primarily consisting of kerosene-based products such as Jet A and Jet A-1, is a critical component for the aviation industry, powering commercial, military, and private aircraft. The "Global Aircraft Jet fuel Market" was valued at USD 151.41 Billion in 2024 and is projected to reach USD 202.54 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period (2024-2030). IATA expects global jet fuel demand to reach about 99 billion gal in 2024, or roughly 6.46 million gal/day. The International Energy Agency’s 2024 forecast is a bit higher at 7.19 million gal/day. With 7.8% of the world's oil consumption going towards fuel, the aviation sector is the one having the fastest rate of growth. Since 2009, the amount of fuel used by commercial airlines has grown annually, reaching a record-breaking 95 billion gallons in 2019. But in 2020, the pandemic led consumption to decline to 52 billion gallons; nevertheless, in 2021, it rose once again, and by 2024, it was expected to reach 99 billion gallons. However, because of increasing fuel efficiency, a decrease in freight traffic, and a decline in foreign commercial carriers, consumption grew more slowly in 2023 than it did in prior years. According to the estimate of IATA, the airline industry consumed between 450,000 and 500,000 tons of sustainable aviation fuel (SAF) at USD 2,500 per ton (or 2.8x jet fuel) in 2023, adding an extra USD 756 million to the industry fuel bill. IATA estimates that SAF production could rise to 0.5% of airlines’ total fuel consumption in 2024, adding USD 2.4 billion to this year’s fuel bill. Regional Overview The regional dynamics of the aviation fuel market reveal distinct trends driven by varying economic conditions, air travel demand, and regulatory environments. With a strong aviation industry and substantial domestic and international air traffic, North America—and especially the United States—is a major region. There is a strong demand for aviation fuels, particularly Jet A-1, due to the existence of large airlines and a vast airport network. Due to its wide variety of airlines and emphasis on environmental initiatives, Europe also contributes significantly to the aviation fuel market. While U.S. production reached 15.8 million gallons in 2022, it accounted for less than 0.1 percent of the total jet fuel used by major U.S. airlines. Competitive Analysis Chevron Air BP Exide Exxon Mobil Gazprom Shell AltAir Fuels Amyris Gevo Hindustan petroleum Honeywell LanzaTech Neste Oil Primus Green Energy SkyNRG Solazyme Solena Fuels Equinor Other Key Players The aircraft jet fuel industry has the presence of large number of national as well as international players. Most of the company operating in this industry has been working continuously and investing heavily in the research and developmental activities, in order to develop sustainable options. Moreover the presence of various regulations and standards has also contributed for the industry growth for instance, the European regulation announced that 2% of jet fuel must be sustainable as of 2025, and 70% by 2050. Companies has also been working towards collaboration and mergers and acquisition in order to expand its reach some of the key players in the aircraft jet fuel industry includes Air BP, Chevron, Exide, Exxon Mobil, Gazprom, Shell, AltAir Fuels, Amyris, Gevo, Hindustan petroleum, Honeywell, LanzaTech, Neste Oil, Primus Green Energy,SkyNRG, Solazyme, Solena Fuels, Equinor etc. About 24 Chemical Research: Established in 2016, 24 Chemical Research specializes in providing comprehensive chemical industry research and analysis to support businesses in making well-informed decisions in this ever-evolving sector. Since our inception, we have been dedicated to delivering in-depth market research, identifying key trends, opportunities, and challenges shaping the global chemical industry.  | |
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2025-04-19 (0.537 sec)