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航空和航太

市場調查報告書

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1546298

永續航空燃料（SAF）越南市場評估：依燃料類型、技術、應用、地區、機會、預測（2024-2032年）

Vietnam Sustainable Aviation Fuel Market Assessment, By Fuel type, By Technology, By Application, By Region, Opportunities and Forecast, 2024-2032F

出版日期: 2024年09月03日 | 出版商:

Market Xcel - Markets and Data | 英文 131 Pages | 商品交期: 3-5個工作天內

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簡介目錄圖表

越南政府計劃在2035年將 10%的可持續航空燃料（SAF）混合到噴射煤油中。作為全球航空業向永續能源標準轉變的一部分，越南的永續航空燃料（SAF）市場快速成長。該行業對替代環保燃料的關注以及減少氣候變遷影響的迫切需求推動市場擴張。

市面上有多種SAF，包括氫燃料、液體燃料和生物燃料。這些燃料用於各種飛機平台，從商用客機到軍用噴射機。儘管市場未來前景光明，但仍存在一些障礙需要克服，例如建立強大的供應鏈、保持成本競爭力以及應對複雜的監管環境。然而，憑藉政府的大力支持和國際環境承諾，越南完全有能力在航空業轉型為清潔燃料的過程中發揮重要作用。如果市場要創造一個能夠實現積極的碳中和目標並廣泛採用 SAF 的行業，克服這些障礙非常重要。

生質燃料產業佔最高市場佔有率

越南的永續航空燃料市場佔有率由生物燃料產業主導。這得歸功於該國豐富的生物質資源以及政府減少二氧化碳排放的政策。越南是生物質資源的主要生產國，這些資源正逐漸從傳統用途轉向用於運輸部門的生物燃料生產。根據越南能源展望報告，預計2050年生物燃料產量將大幅增加，產量達544PJ。國家能源總體規劃（NEMP）強調在航空等排放難以減少的產業使用生物燃料，是需求成長的主要動力。越南向再生能源的轉變推動該產業的快速擴張，其中生物燃料在該國到2050年實現淨零排放目標中發揮關鍵作用。隨著越南生物燃料產能的不斷提高，越南在 SAF 市場的工業領導地位預計將得到鞏固。

例如，2024年 1月，越南航空成為該國第一家使用永續航空燃料（SAF）營運商業客運航班的航空公司。在新加坡樟宜機場，該航空公司為新加坡空軍的一架空中巴士 A321 加油，為 5月 27 日返回河內的航班做準備。這是 Neste 在新加坡樟宜機場的SAF 供應能力首次為來自亞太地區的航空公司提供支援。 Neste 在其位於新加坡的煉油廠生產 SAF，然後利用整合式供應鏈將 SAF 交付給位於樟宜機場的越南航空。該航空公司認為，透過使用 SAF，它將能夠為乘客提供卓越的服務品質和環境友善性，同時為航空業更永續的未來做出貢獻。

科技進步推動市場成長

由於技術進步，越南的永續航空燃料市佔率正急劇上升。該成長主要歸功於燃料生產產業的進步，特別是再生燃料生產的進步。根據越南能源展望報告，越南在整合尖端技術生產生物燃料和合成燃料方面取得了重大進展，這對航空業的脫碳努力非常重要。合成氣生產、生物質氣化和再生液體燃料（例如再生航空燃料）等新興技術推動市場向前發展。越南致力於改善整個再生燃料供應鏈，包括生產、運輸、儲存和分銷。正如氫能策略所示，越南正致力於創造電子燃料和綠色氫，以加強SAF市場。這些技術的進步預計將進一步降低生產成本並提高生產力，以鞏固越南在全球 SAF 市場的地位。

本報告研究和分析了越南永續航空燃料（SAF）市場，提供市場規模和預測、市場動態以及主要參與者狀況。

Vietnam Government is expected to blend 10% sustainable aviation fuel (SAF) in jet kerosene by 2035. As part of the global shift in the aviation industry toward sustainable energy standards, Vietnam's market for sustainable aviation fuel (SAF) is growing rapidly. The industry's dedication toward eco-friendly fuel alternatives and the urgent need to reduce the effects of climate change are driving market expansion.

Diverse SAFs are available in the market, such as hydrogen fuels, power-to-liquid fuels, and biofuels. These fuels are used in a variety of aircraft platforms, ranging from commercial airliners to military jets. Although the market's future seems bright, there are obstacles to overcome by building a strong supply chain, maintaining cost competitiveness, and negotiating complicated regulatory environments. Nevertheless, due to robust government support and international environmental commitments, Vietnam is well-positioned to play a major role in the aviation industry's transition to cleaner fuels. Overcoming these obstacles will be essential as the market develops sectors that can reach its aggressive carbon neutrality targets so that SAF can be widely adopted.

Biofuel Sector Holds the Highest Market Share

Vietnam sustainable aviation fuel market share is being dominated by the biofuel segment. This is due to the country's abundant biomass resources and policies implemented by the government to lower carbon emissions. Vietnam is a major producer of biomass resources, which are progressively being diverted from conventional usage to the production of biofuel for the transportation sector. According to the Vietnam Energy Outlook Report, biofuel production is expected to increase significantly by 2050, with an estimated 544 PJ produced. The National Energy Master Plan (NEMP), which emphasizes the use of biofuels in difficult-to-abate industries, such as aviation, is largely responsible for the rise in demand. Vietnam's shift towards renewable energy is driving the sector's rapid expansion with biofuels playing a key role in the country's net-zero goals by 2050. Vietnam's industry leadership in the SAF market is anticipated to consolidate as it continues to increase its ability to produce biofuels.

For instance, in January 2024, Vietnam Airlines became the first airline in the country to operate commercial passenger flights using sustainable aviation fuel or SAF. At Changi Airport in Singapore, the airline refueled an Airbus A321 with SAF in preparation for its May 27 return flight to Hanoi. This is the first time Neste's SAF supply capabilities at Singapore Changi Airport have helped a visiting carrier from Asia-Pacific. Neste used its integrated supply chain to deliver SAF to Vietnam Airlines at Changi Airport after producing it as a refinery in Singapore. The airline feels that by utilizing SAF, it will be possible to provide passengers with exceptional service quality and environmental friendliness while helping to create a more sustainable future for the aviation sector.

Technology Advancements Boosts Market Growth

Vietnam's market share of sustainable aviation fuel is rising dramatically due to the technological improvements. The increase has been largely attributed to advancements in the fuel production industry, particularly in the creation of renewable fuels. Vietnam is making significant progress in integrating cutting-edge technology to manufacture biofuels and synthetic fuels, which are essential for the aviation sector's decarbonization efforts, according to the Vietnam Energy Outlook Report. Modern techniques such as manufacturing synthetic gas, biomass gasification, and renewable liquid fuels like renewable jet fuel are advancing the market. Vietnam's emphasis on improving the entire renewable fuel supply chain which includes production, transmission, storage, and distribution. The nation's dedication to creating e-fuels and green hydrogen, as delineated in the Hydrogen Strategy, bolsters the SAF market. As these technologies advance, it is anticipated that they will further lower production costs and boost productivity, securing Vietnam's place in the global SAF market.

For instance, in May 2024, to reach its net zero emission goals, Vietnam Airlines is adding wide-body aircraft to its fleet, such as Boeing 787 and Airbus A350. These planes are more competitive and efficient as they can accommodate 311-367 passengers and have a bigger cargo capacity. Due to their integrated technology that lowers pollutants and fuel consumption, the new generation of airplanes is especially environmentally friendly. Comparing Vietjet's current fleet to other airlines, it can save 15-20% on fuel and lower emissions per passenger by 25-30%. Vietnam is focusing on improving the production, transport, storage, and distribution of renewable fuels, which supports these achievements. The nation's dedication to developing e-fuels and green hydrogen, as delineated in the Hydrogen Strategy, reinforces the SAF market.

Southern Vietnam is Expected to Hold the Highest Market Share

Due to its advantageous location and strong infrastructure for renewable energy, the southern area of Vietnam is expected to hold the largest market share of sustainable aviation fuel. Owing to its significant solar and wind energy capacities which are essential for the generation of SAF, the south-central region is growing fast due to the rise in infrastructure projects. With large onshore and offshore wind farms contributing to the energy mix, the region has the greatest percentage of wind capacity in the country. The South's supremacy in the SAF market is further cemented by the numerous linkages that connect it to other regions of the country, allowing for efficient distribution of the generated renewable energy. With growing investments in renewable energy infrastructure in South, Vietnam is anticipated to maintain this regional advantage as it moves closer to its net-zero targets. Due to the region's strategic significance and potential for renewable energy, it leads the SAF market to Vietnam's larger energy transition initiatives.

Government Focus on Sustainability to Influence Market Growth

The sustainable aviation fuel market is expanding due to the Vietnamese government's dedication to sustainability. Through strategic frameworks such as the Power Development Plan (PDP8) and the National Climate Change Strategy for 2050, the nation hopes to attain net-zero emissions. Government regulations encourage the use of renewable fuel in several industries, including aviation. These programs are incorporated into the National Energy Master Plan (NEMP), which is a larger strategy for minimizing reliance on imported fuel and maximizing domestic resources. For the SAF market to flourish and meet global climate goals, these plans must align with Vietnam's sustainability objectives.

For instance, in March 2024, a Japanese business called Toyo Group is investigating the possibility of producing sustainable aviation fuel and has made a sizable investment in Vietnam. Real estate, energy, and projects including a USD 220 million (VND 5519 billion) renewable energy plant in Bac Ninh province and a USD 40 million (VND 1003 billion) Green Energy Plant in Binh Dinh province, are among the company's current investments. JGC Holdings Corporation, an engineering firm with experience in major projects in petrochemical, energy, and other industrial sectors is working with Toyo Group.

Future Market Scenario (2024 - 2032F)

Vietnam's market for sustainable aviation fuel has a positive outlook, owing to the nation's strong environmental policies, developing technological capabilities, and advantageous geographic location. The SAF market is anticipated to expand rapidly as Vietnam works toward its goal of net-zero emissions by 2050, aided by initiatives such as the Power Development Plan (PDP8) and the National Energy Master Plan. The development of renewable energy sources, such as biofuels and synthetic fuels, is given priority in these frameworks as they are crucial for decarbonizing the aviation industry. Technological developments that will further improve the efficiency and economics of SAF generation include the development of green hydrogen and biomass gasification. Vietnam is in a strong position to dominate the region in SAF production due to its technological advancements and rising investments in renewable energy infrastructure, especially in the south-central and south-east regions.

Key Players Landscape and Outlook

The sustainable aviation fuel market in Vietnam is in its early stages, with major aviation firms such as VietJet Air and Bamboo Airways spearheading early initiatives. International corporations such as Neste and World Energy are seeking collaborations to access this developing industry. The market is expanding due to the international pressure for decarbonization and constant government support. With space for rapid expansion in Vietnam's aviation industry, sustainability becomes more popular throughout Southeast Asia, the SAF aviation fuel market is expected to boost in the forecast years.

For instance, in December 2023, to promote sustainable aviation fuel (SAF) in Vietnam, Dubai-based SAF One and Vietnamese low-cost carrier Vietjet Air have teamed. A Memorandum of Understanding (MoU) was inked in Dubai during COP28 to help the airline and SAF One to work together. SAF One, which was founded in May by Sencirc Holding, based in Abu Dhabi, and Novus Aviation Capital, focuses on assets in the circular economy. The collaboration comes at the same time as Jeff Ovens is named SAF One's Chief Operating Officer, effective January 2024, and there is an increasing emphasis on SAF supply and procurement in Asia-Pacific.

For instance, in March 2024, Japanese renewables firm Nihon Toyo has already deployed many energy projects in Vietnam, including a USD 40 million green energy factory project in Binh Dinh, a USD 220-million waste treatment factory in Bac Ninh, and a USD 60 million cosmetics plant in Ho Chi Minh City.

1. Project Scope and Definitions

2. Research Methodology

3. Executive Summary

4. Voice of Customer

4.1. Brand Awareness
4.2. Lead time
4.3. Supply Chain
4.4. Quality
4.5. Ease of Purchase

5. Vietnam Sustainable Aviation Fuel Market Outlook, 2024-2032F

5.1. Market Size Analysis & Forecast
- 5.1.1. By Value
- 5.1.2. By Volume
5.2. Market Share Analysis & Forecast
- 5.2.1. By Fuel Type
  - 5.2.1.1. Biofuel
  - 5.2.1.2. Power to Liquid Fuel
  - 5.2.1.3. Hydrogen Fuel
  - 5.2.1.4. Gas-to-Liquid
- 5.2.2. By Technology
  - 5.2.2.1. Fischer-Tropsch (FT) and Synthetic Paraffinic Kerosene (SPK)
  - 5.2.2.2. Hydroprocessed Esters and Fatty Acids
  - 5.2.2.3. Hydroprocessed Fermented Sugars to Synthetic Isoparaffins
  - 5.2.2.4. FT-SPK With Aromatics
  - 5.2.2.5. Hydrocarbon-Hydroprocessed Esters and Fatty Acids
  - 5.2.2.6. Others
- 5.2.3. By Application
  - 5.2.3.1. Commercial
  - 5.2.3.2. Defense
  - 5.2.3.3. Others
- 5.2.4. By Region
  - 5.2.4.1. North
  - 5.2.4.2. South
  - 5.2.4.3. Central

6. Porter's Five Forces Analysis

7. PESTLE Analysis

8. Market Dynamics

8.1. Market Drivers
8.2. Market Challenges

9. Market Trends and Developments

10. List of Existing and Upcoming SAF Plants in Vietnam

11. Competitive Landscape

11.1. Competition Matrix of Top 5 Market Leaders
11.2. SWOT Analysis for Top 5 Players
11.3. Key Players Landscape for leading and Upcoming Market Players
- 11.3.1. Neste Oyj
  - 11.3.1.1. Company Details
  - 11.3.1.2. Key Management Personnel
  - 11.3.1.3. Products and Services
  - 11.3.1.4. Financials (As Reported)
  - 11.3.1.5. Key Market Focus and Geographical Presence
  - 11.3.1.6. Recent Developments/Collaborations/Partnerships/Mergers and Acquisition
- 11.3.2. World Energy LLC
- 11.3.3. Gevo Inc.
- 11.3.4. SAF One Energy Management Ltd
- 11.3.5. Vietnam Air Petrol Company Limited
- 11.3.6. Tan Son Nhat Petrol Commercial JSC
- 11.3.7. Nihon Toyo Co., Ltd.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.

12. Strategic Recommendations

13. About Us and Disclaimer

簡介目錄圖表

List of Tables

Table 1. Pricing Analysis of Products from Key Players
Table 2. Competition Matrix of Top 5 Market Leaders
Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

Figure 1. Vietnam Sustainable Aviation Fuel Market, By Value, In USD Million, 2024-2032F
Figure 2. Vietnam Sustainable Aviation Fuel Market, By Volume, In Million Liters, 2024-2032F
Figure 3. Vietnam Sustainable Aviation Fuel Market Share (%), By Fuel Type, 2024-2032F
Figure 4. Vietnam Sustainable Aviation Fuel Market Share (%), By Technology, 2024-2032F
Figure 5. Vietnam Sustainable Aviation Fuel Market Share (%), By Application, 2024-2032F
Figure 6. Vietnam Sustainable Aviation Fuel Market Share (%), By Region, 2024-2032F

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