Rising use of carbon-neutral fuel in the aviation industry is projected to fuel the growth of the global Carbon-neutral fuels market at a CAGR of 7.42% during the forecast period 2023 to 2030

Market Research Future (MRFR) has published on the “Global Carbon-neutral fuels market”.

The Carbon-neutral fuels market is estimated to register a CAGR of 7.42% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Carbon-neutral fuels market— Carbon Engineering Ltd, Mitsui Kinzoku, Umcor, Nanoshell LLC, American Element, Pometon Powder , ADM, POET, LLC.

Carbon Neutral Fuels Market Highlights

The Global Carbon-neutral fuels Market Size was valued at USD 78,975.4 million in 2022. The Carbon-neutral fuels Market industry is projected to grow from USD 81,595.7 million in 2023 to USD 139,975.8 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7.42% during the forecast period (2023 - 2030).

Carbon-neutral fuels were developed as an alternative to the liquid fuels that are commonly consumed in internal combustion engines. These fuels are carbon neutral. The term "carbon-neutral fuel" describes a fuel that burns without adding to or subtracting from the quantity of carbon dioxide in the atmosphere. When burned, carbon-neutral fuels do release greenhouse gases, such as carbon dioxide. Yet, emissions from fuels that are carbon-neutral result in a net-zero increase in atmospheric carbon. This is since carbon dioxide is often used in the fuels' synthetic process. There is no net gain of carbon in the atmosphere as long as the carbon dioxide utilized in the process is obtained from a renewable source, not from fossil fuels. Both the energy and transportation sectors may employ carbon-neutral fuels. In automobiles using internal combustion engines, they are utilized to swap out conventional fossil fuels. In power plants that produce electricity using fossil fuels, they are also utilized to create electricity. Let's examine each of these applications in further detail.

Segment Analysis

As per MRFR analysis, the global Carbon-neutral fuels market has been segmented based on feedstock, type, application, and region.

The global Carbon-neutral fuels Market segmentation, Based on feedstock, the global market has been divided into Carbon Dioxide, Hydrogen, Plant Starches, Animal Fats, Vegetable Oil, and Others. The Plant Starches segment dominated the global market, accounting for largest share in 2022.

Based on Application, the global market has been divided into, Automobiles, Ships, Aircrafts, Trains, Power Generation, Chemicals, and others. The Automobiles segment dominated the global market, accounting for largest share in 2022.

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Regional Analysis

By Region, the study segments the Carbon-neutral fuels market into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The North America Carbon-neutral fuels market holds the largest market share and is also anticipated to account for the largest revenue share during the forecast period.

The global market owing to the easy availability of raw materials as well as increasing demand from the end-use industries such as automotive, construction, and others. Asia-pacific accounted for the second largest with a market share of xx% and valued at USD xx million. The growth is attributed to the growing automotive and coating industry in the region. Also, stringent government regulation in North America and Europe on the use of VOCs free products is boosting the growth in the region.

Key Findings of the Study

• The global Carbon-neutral fuels market is expected to reach USD 139,975.8 million by 2030, at a CAGR of 7.42% during the forecast period.


• The North America region accounted for the fastest-growing global market.


• Based on Type, the Bioethanol segment was attributed to holding the largest market in 2022.


• Based on application, the Automobiles segment was attributed to holding the largest market in 2022.


• Carbon Engineering Ltd, Mitsui Kinzoku, Umcor, Nanoshell LLC, American Element, Pometon Powder, ADM, POET, LLC, and others.