A new study from consultancy Persistence Market Research predicts that the nearly billion-dollar worldwide aviation fuel additive market will grow by more than 50 percent by 2030. In the report, the company estimates a compound annual growth rate (CAGR) expansion of 6.7 percent over that period, based on increased commercial aviation demand, rapid aviation growth in developing countries, and environmental regulations spurring the adoption of cleaner, more sustainable fuels.
While additives are required for aviation fuels to optimize performance and safety by addressing stability, lubricity, corrosion, and ice concerns, they are subject to stringent regulatory approval that can result in high research and development costs. The report’s authors said that can limit new participants in the market and hinder innovation.
Yet the growing focus on sustainability is creating a demand for bio-based and renewable fuel additives that “presents a lucrative opportunity for companies that can develop and commercialize these eco-friendly solutions,” according to the report. It further describes the development of sustainable aviation fuel (SAF) as “one of the most significant breakthroughs in the aviation industry.”
The report noted that fuel additives play a critical role in enhancing the properties of SAF, ensuring that they meet standards while helping the sector in its goal of decarbonization. While most SAF use is presently limited to blends of up to 50 percent with conventional jet fuel, the addition of additives could pave the way toward pure SAF approvals.