Sustainable Aviation Fuel Market Estimated to Reach Value of US$ 402.0Bn by 2050
As per study conducted by TMR, the global Sustainable Aviation Fuel Market is estimated to advance at compound annual growth rate of 26.2% during the forecast period between 2022 and 2050. The past decade has witnessed steady increase in need to reduce emission of hazardous gases, globally as well as increased focus on climate change and its impact, worldwide. As a result, the demand for products that help in decreasing hazardous gases and help manage climate change has risen. Sustainable aviation fuel emits harmful gases 75% less than jet fuel, which has led to its increased adoption, thereby contributing to market growth. Growth strategies such as new product launches are helping prominent sustainable aviation companies in gaining an edge over competitors and in generating new revenue streams. Furthermore, leading sustainable aviation fuel companies in industry for sustainable aviation fuel are also adopting strategies such as collaboration with smaller players to expand their presence in global market and improve their revenue.