The report, now available on ASDReports, recognizes the following companies as the key players in the global aviation alternative fuels market: GE Aviation, Rolls-Royce, SkyNRG, Swedish Biofuels, and UOP.
Other prominent vendors in the market are: Amyris, AltAir Fuels, Byogy Renewables, Fulcrum BioEnergy, and Gevo.
Commenting on the report, an analyst said: “One of latest trends in the market is evolution of bio-ports. With the fluctuating global ATF prices along with the increasing pressures for GHG emissions reduction, biofuels have been considered as an appropriate substitute to achieve carbon-neutral growth. Although the present-day aircraft are 70% more fuel-efficient than the traditional ones, they consume approximately two billion barrels of jet fuel annually and result in high carbon emissions. Since, the aviation biofuels are both expensive and rare to find, their continued use is still a question.”
According to the report, one of the primary drivers in the market is growing GHG emissions. CO? emissions are significantly increasing year-over-year. Combustion of fossil fuels (such as natural gas, coal, and oil) for energy, transportation, and certain industrial processes are some prominent examples that generate CO? emissions. In 2014, the US in particular, emitted 5,406 million metric tons of CO? into the atmosphere. The primary source of CO? emissions in the US, China, and the EU-countries are the electricity and transportation industries. It is estimated that if the world adopts the smart energy (biofuels, solar, water, and wind energies) technologies, then CO? emissions could be reduced by 15% globally by 2020.
Further, the report states that one major challenge in the market is sparse availability of feedstock for biofuels. Biofuel can be synthesized from different feedstocks. Also, the quality of the biofuel is very much dependent on the feedstock used in the making of the fuel. A primary concern for the market is the scant availability of the required feedstock and the time required for the processing of biofuels.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Nov 14, 2016