The first flight, which used blended biofuel, began in 2008 and as of March 2019, more than 150,000 flights have used biofuels. Only five airports have regular biofuel distribution till March 2019 (Bergen, Brisbane, Los Angeles, Oslo, and Stockholm), with others offering occasional supply. To cut CO2 emissions by half, by 2050, relative to 2005 levels, and achieve the goal of carbon-neutral growth, the global airline industry, International Civil Aviation Organization (ICAO) have announced to initiate the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), from 2021. Renewable aviation fuel (RAF) produces up to 85% less CO2 over its lifecycle and has the potential to reduce the dependence on traditional aviation fuel. CORSIA is estimated to mitigate around 2.5 billion metric ton of CO2, between 2021 and 2035. Renewable aviation fuel is expected to play a significant role in achieving the industr y’s long-term emissions reduction goal. The market is driven by the strict emission regulations laid on aircraft emissions, by the International Civil Aviation Organization (ICAO). As of 2018, around 150,000 commercial flights have successfully flown on biofuels blends, and several major airlines have committed to the long-term RAF purchase agreement. Further, the International Air Transport Association (IATA) has set a goal of reaching 1 billion passengers on flights, fueled by sustainable aviation biofuels, by 2025. The major factor restraining the market includes the high cost of production of renewable aviation fuel. Fuel cost account for a significant share of the total operating expenses of an airline company (30%). Hence, high fuel costs increase the operating cost for an airline company, by a considerable amount.

The global coal tar market is expected to grow at a significant rate during the forecast period (2017- 2024). Coal tar finds its significant applications in the production of carbon anodes, tire industry, and graphite electrodes, among others. Coal tar acts as a binder for the production of graphite electrodes, registering the highest CAGR during the forecast period. Before venturing into a forthcoming market, a firm must consider certain factors that allow the company to establish itself as an active player in the market. Henceforth, this chapter of the report provides an in-depth understanding of the direction in which the market is heading and the impacts of various factors on it. This segment of the report lists and analyzes several factors, such as market drivers, market restraints, and market opportunities, and their effect on the market.

2020 年以来，国际油价在产油国联盟的恶性竞争及疫情影响下大幅暴跌。截止06 月29 日，布伦特原油期货结算价41.71 美元/桶，较年初下降24.54 美元/桶（-37.04%）；WTI 原油期货结算价为每桶39.70 美元/桶，较年初下降21.48 美元/桶（-35.11%）。展望后市，我们判断国际油价在需求回暖、协议减产等背景下供需边际改善有望持续，预计布伦特中枢在45 美元/桶。

6 月我国官方制造业PMI 50.9%，比上月上升0.3 个百分点。构成制造业PMI 的五大分类指标中，生产指数、新订单指数和供应商配送时间指数均高于临界点，原材料库存指数和从业人员指数均低于临界点。

全球疫情对原油需求的边际影响快速减弱，炼厂开工率普遍回升，石油产品库存创历史新高，但增速减缓；原油库存量低于市场预期。预计三季度油价提前回升到50 美元附近。