Increasing demand from end user industry like catalysts and solvents along with the increasing environmental concerns is driving the demand for the market.
Market Size – USD 33.3 million in 2019, Market Growth – CAGR of 8.8%, Market Trends – High demand from catalysts and solvents sector.
The Global Ionic Liquids Market is projected to reach USD 65.8 million in 2027. Increasing usage of ionic liquids as industrial solvents specially in Catalysts and Solvents industry is driving the market’s growth. Apart from this, need for development of green chemistry in order to address environmental concerns is predicted to fuel the market’s growth during the forecast period.
Increasing environmental awareness regarding green solvents is expected to boost the market’s growth. Various industries are flourishing in the North American region and the usage of ionic liquids has become common in these industries. The increasing government budget for environmental compliance programs are also forcing manufacturers of different sectors to adopt these liquids. Ionic liquids possess chemical properties like thermal stability, low vapour pressure, liquid crystalline structures, high heat capacity, miscibility with water or organic solvents. The products offered by the market are widely used in industrial reactions in the form of solvents and catalysts.
The major factor restraining the industry’s growth is the high cost of the raw materials used in ionic liquids and the complexity involved in its manufacturing process. These factors limit its usage in various applications like biocatalyst, electroplating and deposition. Major players of the market are trying to adopt alternative manufacturing processes in order to produce more chemically refined, pure and cost-effective products.
Key players in the market include BASF SE, Evonik Industries, Solvay S.A., Merck KGAA, The Chemours Company, Proionic, Solvionic SA, Ionic Liquids Technologies GmbH, Strem Chemicals Inc. and Coorstek Specialty Chemicals.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3432
Further key findings from the report suggest
- Ionic liquids are used as process chemicals in a variety of chemical processes like separation and purification.
- Offline sales channel is popular among small suppliers and producers who are trying to cater to the domestic markets of their respective regions.
- Increase in investments in bio-refinery processes is likely to have a positive impact on the growth of the industry.
- The Asia Pacific market is expected to witness significant growth mainly due to the flourish of the industry in Japan. Rapid urbanization and growth of chemical sector may trigger the market’s growth in this part of the world.
- In March 2020, Proionic introduced ionic liquid based hydrogen storage technology which offers long term stability and are extremely safe as well as non-flammable.
- In June 2020, Proionic launched “Electrolyte Summer Special” following the successful launch of IL-electrolyte BMPyrr FSI.
- Solvionic SA introduced LiFSI based Next Generation Electrolytes for Lithium Ion Batteries in 2019.
For the purpose of this report, Reports and Data have segmented into the global Ionic Liquids Market on the basis of Application, Sales Channel, End User and region:
Application Outlook (Revenue, USD Million; 2020-2027)
- Process Chemicals
- Performance Chemicals
Sales Channel Outlook (Revenue, USD Million; 2020-2027)
End User Outlook (Revenue, USD Million; 2020-2027)
- Catalysts & Solvents
- Paper & Pulp
Regional Outlook (Revenue, USD Million; 2020-2027)
- North America
- Asia Pacific
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/ionic-liquids-market
Table of Content:
Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Ionic Liquids Market Segmentation & Impact Analysis
4.1. Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
Chapter 5. Competitive Landscape
5.1. Market Revenue Share By Manufacturers
5.2. Manufacturing Cost Breakdown Analysis
5.3. Mergers & Acquisitions
5.4. Market positioning
5.5. Strategy Benchmarking
5.6. Vendor Landscape
Thank you for reading our report. For customization inquiry or further information, please connect with us and we will ensure you get the report that meets your requirements.
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.