The Global Ionic Liquids Market size is projected to reach USD 65.8 million in 2027. The growth of the market is driven by the growing use of ionic liquids as industrial solvents, especially in the catalysts and solvents industry. In addition to this, the need for green chemistry creation to resolve environmental issues is projected to drive the growth of the market during the forecast period.
It is expected that growing environmental awareness about green solvents would fuel the growth of the industry. In the North American area, different industries are thriving, and the use of ionic liquids in these industries has become widespread. The growing government budget for environmental enforcement programs has also forced the adoption of these liquids by producers from different sectors. Chemical properties such as thermal stability, low vapour pressure, liquid crystalline structures, high heat power, water miscibility or organic solvents have ionic liquids. The products offered by the market are commonly used in the form of solvents and catalysts in industrial reactions.
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The high cost of the raw materials used in ionic liquids and the complexities involved in its manufacturing process are the major factor restricting the growth of the industry. In various applications such as biocatalyst, electroplating and deposition, these variables restrict its use. In order to manufacture more chemically refined, pure and cost-effective goods, major market players are seeking to accept alternative production methods.
The Asia Pacific market is expected to see substantial growth, mainly due to Japan’s flourishing industry. In this part of the world, rapid urbanization and growth in the chemical sector could cause the growth of the market.
Proionic launched ionic liquid-based hydrogen storage technology in March 2020, which provides long-term stability and is both highly stable and non-flammable. In June 2020, following the successful launch of IL-electrolyte BMPyrr FSI, Proionic launched “Electrolyte Summer Special”.
In 2019, Solvionic SA launched the Next Generation Electrolytes for Lithium-Ion Batteries based on LiFSI.
There have been a variety of M&A in the field, such as the acquisition of Southern Ionic Minerals by The Chemours Group in 2019, the acquisition of Solvay’s polyamide business by BASF SE in 2020 and the acquisition of PeroxyChem by Evonik Industries in 2020.
Key players in the market include:
For the purpose of this report, Reports and Data has segmented the global Ionic Liquids Market on the basis of application, sales channel, end-user, and region:
Application Outlook (Revenue, USD Million; 2020-2027)
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Sales Channel Outlook (Revenue, USD Million; 2020-2027)
End-User Outlook (Revenue, USD Million; 2020-2027)
Regional Outlook (Revenue, USD Million; 2020-2027)
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Competitive analysis of the Ionic Liquids industry offers key data regarding product portfolio, company overview, market concentration rate, pricing analysis, and other key elements. Additionally, it offers key insights into their strategic alliances such as mergers and acquisitions, joint ventures and collaborations, corporate and government deals, product launches, and brand promotions, and agreements, among others. It also provides details about their expansion tactics, the latest developments in products and technologies, production and manufacturing sites, and capacities, along with sales, revenue, returns, and financial standings.
In conclusion, the Ionic Liquids market report provides a granular assessment of the market through extensive segmentations along with analysis of supply chains, sales network and distribution network, and downstream buyers in the Ionic Liquids market.
Radical Features of the Ionic Liquids Market Report:
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