Biofuels to take 6.1% of US aviation, marine fuel market by 2024 - Navigant

Jul 16, 2014 - Biofuels are expected to hold a 6.1% share of the aviation and marine fuel market in the US by 2024, a recent report from Navigant Research shows.

Mackinnon Lawrence, research director at the firm, said in a statement that new biorefinery construction in the country could result in USD 7.8 billion (EUR 5.8bn) in cumulative revenue by that year, accounting for 66% of the global figure. “The United States is expected to emerge as the clear leader in the construction of integrated biorefineries capable of producing bio-based jet fuel and marine distillates over the next 10 years,” he said.

According to the Aviation and Marine Biofuels report by Navigant, installed annual nameplate production capacity on a global basis, led by North America, is projected to reach 3.3 billion gallons (12.49 billion litres) in the next 10 years. This would represent 1.5% of the total aviation and marine fuel demand. In the coming 10 years, the researcher expects between 18.2 billion and 19.6 billion gallons of renewable drop-in aviation and marine biofuels to be produced globally, based on two scenarios analysed in its report.

(USD 1.0 = EUR 0.738)

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