IATA FORECASTS SURGE IN RENEWABLE FUEL PRODUCTION BY 2028
On 8 June, the International Air Transport Association (IATA) announced its projection that renewable fuel production capacity will reach a minimum of 69 billion litres (55 million tonnes) by 2028. This capacity includes the production of Sustainable Aviation Fuels (SAF) and is expected to be achieved through the establishment of new renewable fuel refineries and the expansion of existing facilities across North America, Europe, and Asia Pacific.
In 2022, SAF production tripled to approximately 300 million litres (240,000 tonnes), and there has been a significant increase in project announcements from potential SAF producers. IATA has identified over 130 renewable fuel projects by more than 85 producers in 30 countries, all of which intend to produce SAF as part of their renewable fuel portfolios. If the estimated 69 billion litres of renewable fuel production capacity are achieved by 2028, it would put the industry on track to reach 100 billion litres (80 million tonnes) by 2030. Even if only 30% of this production is dedicated to SAF, the industry could produce 30 billion litres (24 million tonnes) of SAF by 2030. IATA also highlighted the need for policy support and government investment, as well as the harmonisation of SAF policies to reduce barriers for market entrants and provide the necessary capital for technology development and production facilities.
IATA’s Director General, Willie Walsh, expressed optimism about the increase in production and emphasised the crucial role of SAF in achieving the aviation industry's goal of net-zero carbon emissions by 2050.
Source: IATA