Ireland Sustainable Aviation Fuel Market Transforming the Aviation Industry with Green Energy
Ireland Sustainable Aviation Fuel Market
Ireland’s Sustainable Aviation Fuel market is gaining traction as the country aims to reduce the carbon footprint of its aviation sector. Ireland, home to several leading airlines such as Ryanair and Aer Lingus, has a vested interest in promoting SAF to meet the European Union’s stringent carbon reduction targets. The Irish aviation sector is an important contributor to the country’s economy, but it is also responsible for significant carbon emissions.
As a member of the EU, Ireland adheres to policies aimed at reducing aviation emissions, including participation in the EU Emissions Trading System (EU ETS) and CORSIA. The Irish government has also set ambitious climate targets, and the adoption of SAF is viewed as a critical component in achieving these goals. SAF production in Ireland could benefit from the country’s abundant agricultural resources, which can be used as feedstock for biofuels.
Collaborations between Irish airlines, fuel producers, and technology providers are already underway to explore the feasibility of SAF usage. However, the cost of SAF and the need for infrastructure development remain challenges. With growing support from both government and industry stakeholders, Ireland’s SAF market is likely to expand in the coming years, contributing to both economic and environmental sustainability.
In 2022, the sustainable aviation fuel market was estimated to be worth USD 0.4 billion. The industry for sustainable aviation fuel is expected to develop at a compound annual growth rate (CAGR) of 52.90% between 2023 and 2032, from USD 0.6 billion in 2023 to USD 18.26 billion.
The growth of the market is attributed to the increasing government support for SAF, growing demand from airlines and other aviation stakeholders for more sustainable fuel options, and rising awareness of the environmental impact of aviation and the need for SAF.
Sustainable aviation fuel (SAF) is a renewable fuel that can be used to power aircraft. It is made from a variety of sustainable feedstocks, such as waste oils, used cooking oil, and agricultural residues. SAF can reduce greenhouse gas emissions from aviation by up to 80% compared to conventional jet fuel.
The global SAF market is expected to grow rapidly in the coming years, driven by a number of factors, including:
Increasing government support for SAF, in the form of tax breaks and subsidies
Growing demand from airlines and other aviation stakeholders for more sustainable fuel options
Rising awareness of the environmental impact of aviation and the need for SAF
Market Segmentation
The global SAF market can be segmented by fuel type, aircraft type, platform, and region.
By fuel type, the market can be divided into:
Biofuel
Hydrogen fuel
Power-to-liquid fuel
Biofuel is the most common type of SAF currently available. It is made from sustainable feedstocks, such as waste oils, used cooking oil, and agricultural residues.
Hydrogen fuel is a promising new type of SAF that is still in the early stages of development. It has the potential to reduce greenhouse gas emissions from aviation to zero.
Power-to-liquid fuel is another new type of SAF that is still in the early stages of development. It is made from renewable electricity and water.
By aircraft type, the market can be divided into:
Fixed wings
Rotorcraft
Others
Fixed wings are the most common type of aircraft that use SAF. Rotorcraft, such as helicopters, are also starting to use SAF.
By platform, the market can be divided into:
Commercial aviation
Military aviation
Business & general aviation
Unmanned aerial vehicle
Commercial aviation is the largest segment of the SAF market. Military aviation and business & general aviation are also growing segments.
By region, the market can be divided into:
North America
Europe
Asia-Pacific
Latin America & Middle East & Africa (LAMEA)
North America and Europe are the largest markets for SAF. Asia-Pacific is expected to be the fastest-growing market for SAF in the coming years.
Market Trends
The global SAF market is expected to grow rapidly in the coming years, driven by a number of factors, including:
Increasing government support for SAF, in the form of tax breaks and subsidies
Growing demand from airlines and other aviation stakeholders for more sustainable fuel options
Rising awareness of the environmental impact of aviation and the need for SAF
The COVID-19 pandemic had a negative impact on the SAF market in 2020, as the aviation industry was severely impacted by the pandemic. However, the market is expected to recover in the coming years as the aviation industry rebounds.
The leading players in the global SAF market include:
Northwest Advanced Biofuels, LLC.
Red Rock Biofuels
Fulcrum BioEnergy, Inc.
Aemetis, Inc.
TotalEnergies SE
OMV Aktiengesellschaft
Neste Oyj
SKYNRG
Gevo Inc.
Eni SPA
Avfuel Corporation
SG Preston Company
Sundrop Fuels Inc.
Ballard Power Systems
Velocys
ZeroAvia, Inc
These companies are involved in the production, distribution, and marketing of SAF.
Market Outlook
The Asia-Pacific region is expected to be the fastest-growing market for SAF in the coming years. This is due to the growing aviation industry in the region and the increasing government support for SAF.