企业竞争图谱：2024年可持续性航空燃料（SAF） 头豹词条报告系列

Investment Rating - The report does not provide a specific investment rating for the sustainable aviation fuel (SAF) industry [4]. Core Insights - Sustainable Aviation Fuel (SAF) is crucial for the aviation industry's transition to sustainability, with potential to reduce carbon emissions by up to 80% compared to fossil fuels [4][5][11]. - The SAF market is projected to grow from 0 billion to 2.22 billion from 2019 to 2023, with an expected compound annual growth rate (CAGR) of 295.10% from 2024 to 2028, reaching 703.73 billion [4][41]. Industry Definition - SAF refers to aviation fuel produced without using fossil raw materials like crude oil or natural gas, utilizing renewable biological materials such as used cooking oil and agricultural residues [5][11]. Industry Classification - SAF can be categorized into two main types: biojet fuel and sustainable aviation synthetic fuel, with various production pathways recognized by international standards [7][8]. Industry Characteristics - Key characteristics of the SAF industry include the ICAO's commitment to emission reduction strategies using SAF, focus on four main production routes (HEFA, FT/G+FT, AtJ, and PtL), and challenges such as high costs, complex certification processes, and an incomplete supply chain [11][12][14]. Market Size - The SAF industry market size has grown significantly, with projections indicating a substantial increase in market value from 2.89 billion to 703.73 billion between 2024 and 2028, reflecting a CAGR of 295.10% [41][42]. Development History - The development of SAF can be divided into three phases: technology development (1990-2015), standard formulation (2016-2020), and market expansion (2021-present) [16][18][20]. Supply Chain Analysis - The SAF supply chain consists of upstream raw materials (waste cooking oil, agricultural and forestry residues), midstream production and supply, and downstream application primarily by commercial airlines [21][34]. Production Pathways - The report highlights that HEFA is the most mature technology for SAF production, while PtL is seen as a promising long-term development route [30][31][22]. Regulatory Environment - The regulatory framework for SAF in China is evolving, with recent policies aimed at promoting SAF use in domestic aircraft and establishing sustainability standards [50][51][36].