{"id":593676,"date":"2022-03-29T20:10:01","date_gmt":"2022-03-29T20:10:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=593676"},"modified":"2022-03-29T20:10:01","modified_gmt":"2022-03-29T20:10:01","slug":"aviation-fuel-market-growth-forecasted-to-reach-22467-billion-by-2027-exclusive-report-by-mordor-intelligence","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/aviation-fuel-market-growth-forecasted-to-reach-22467-billion-by-2027-exclusive-report-by-mordor-intelligence_593676.html","title":{"rendered":"Aviation Fuel Market Growth Forecasted to Reach $224.67 Billion by 2027 – Exclusive Report by Mordor Intelligence"},"content":{"rendered":"
\n
\"Aviation<\/a><\/div>\n
\n
Mordor Intelligence<\/div>\n<\/div>\n<\/div>\n
The aviation fuel market is fragmented. Some of the major players include ExxonMobil Corporation, Chevron Corporation, Shell Plc., TotalEnergies SE, and BP Plc. among others. In 2021, in the United States, Valero Energy Corporation refinery head predicted the demand for their jet fuel product to be back to pre-pandemic levels in the second half of 2022.<\/div>\n

Aviation Fuel Market Overview<\/strong><\/p>\n

The aviation fuel market was valued at USD 77.91 billion in 2020, and it is anticipated to reach USD 224.67 billion by 2027, registering a CAGR of more than 16.3% during the forecast period of 2022-2027. The aviation turbine fuels (ATFs) segment is expected to dominate the market during the forecast period as they are a cheaper and more reliable way of powering aircraft. The introduction of renewable aviation fuels in the global aviation industry presents the most promising opportunity for the market. These fuels are made from organic waste like agricultural waste and cooking oils. The aviation industry in almost all countries is on a spree to explore options for decarbonizing the sector. Renewable aviation fuels can cut carbon emissions by 80% as compared to conventional ATFs.<\/p>\n

Download a free sample here – <\/strong>Aviation Fuel Market<\/a><\/p>\n

Aviation Fuel Market – Geographical Overview<\/strong><\/p>\n

The Asian countries are currently on a fast-track mode to envisage development in all sectors. The growing economic activity in all the nations in the region is expected to drive mobility at the national and international levels. Moreover, the growing demand for Sustainable Aviation Fuel (SAF) in the region is the most prominent driver of the aviation fuel market. Singapore has recently become a part of the World Economic Forum Clean Skies for Tomorrow Sustainable Aviation Fuel (SAF) Ambassador group.<\/p>\n

Not only the ASEAN countries but countries like India, Japan have been engaged in decarbonizing the aviation industry for the last five years. In June 2021, Japan Airlines (JAL) completed the pilot test of a mixture of two different types of SAF (Sustainable Aviation Fuel), which were produced domestically in Japan. The SAF mixture has passed the quality inspection test and is now completely ready to be used in actual flights. This trial test from Tokyo to Sapporo was a part of the major goal of full commercialization of domestically-produced SAF by 2030.<\/p>\n

Check our other latest research on –<\/strong><\/p>\n