Global Ionic Liquid Market By Type (Non-Volatile Plasticizers, Thermal Fluids, Hydraulic Fluids, High Temperature Lubricants, Low Temperature Lubricants, Electro Chemical Cells & Devices, Analytical Chemistry), By Application (Solvents & Catalysts, Process & Operating Fluids, Plastics, Batteries & Electrochemistry, Bio-Refineries), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019–2028
- Published date: April 2023
- Report ID: 24071
- Number of Pages: 300
Ionic Liquids Market Overview:
The Ionic Liquid Market is expected to index a valuation of 30.36 Bn from 11.29 Bn registered in 2021. Over the course of this forecast timeline, the global scroll & absorption chillers market is slated to index a CAGR of 10.6%.
Due to the increasing use of ionic liquids in solvents, the market is expected to grow substantially over the forecast period. With the combination of cations and anions, Ionic liquids are a class of solvents. The demand for this product is expected to rise due to growing environmental awareness and green chemistry.
Ionic liquids are used extensively in the manufacture of liquid solvents and catalysts. The industry is expected to grow due to the rising demand for extractions and separations applications over the forecast period.
Global Ionic Liquids Market Scope:
Catalysis and clean solvents were the most common uses of ionic fluids, accounting for more than 34.9% of global value in 2021. They are precursors to any chemical reaction. In Europe, such as the UK and Germany, extraction and separation are common.
Future projects to increase petrochemical production in the U.S., Canada, and Mexico will positively impact demand.
In 2021, extraction and separation was the second-largest market. This is expected to increase at a CAGR of over 11.2% between 2023 and 2032. The demand for bio-ionic liquid applications in refineries, energy storage, and other industrial processes is increasing. This is expected to drive growth in the forecast period.
This product is used in industrial applications in biorefineries. The product will be in high demand due to increased bio-refinery spending over the forecast period. This segment is expected to grow at 10.9% CAGR over the forecast period.
By Type, thе mаrkеt is Segmented into 1,2,3-trіаzоlіum ionic liquids, Thiazolium аnd Веnzоthіаzоlіum ionic liquids, Glycoside-Based Ionic liquids, аnd Ionic liquids from (Meth) Acrylic Compound.
The global ionic liquid market has been segmented based on application and type.
Кеу Маrkеt Ѕеgmеntѕ
- Solvents & Catalysts
- Energy storage
- Extractions & Separations
- Other Applications
- Glycoside-Based Ionic liquids
- Thiazolium аnd Веnzоthіаzоlіum ionic liquids
- 1,2,3-trіаzоlіum ionic liquids
- Ionic liquids from (Meth) Acrylic Compound
The forecast period will also increase environmental awareness about green solvents. The ionic liquid acts as a green solvent. Its properties, like high thermal stability and conductivity, high liquid state retention, very low pressure, low viscosity, and inflammable nature, make it suitable for multiple applications. Over the next nine years, the industry is expected to grow due to the increasing demand for various products and advanced production facilities.
The rise in government spending in North America and Europe to ensure environmental compliance due to increasing domestic production of industrial solvents will significantly boost bio-refineries in these areas and energy storage.
North America accounted for more than 32% of the global ionic liquids industry in 2021. The North American development of new manufacturing processes for these liquids is expected to increase the industry’s growth.
The U.S., Canada, and Mexico have a positive outlook on applications in solvents & catalysis. This is due to government policies that open up attractive market opportunities for foreign investors to boost the economy. The final product’s cost is affected by volatile raw materials prices and complex manufacturing processes. Over the forecast period, this will hurt the ionic fluids industry.
North America accounted for over 32% of the revenue in 2021. Due to government support, the U.S. has many prominent mining companies that will play a key role in driving demand. Product growth will also be fuelled by many regional players in the U.S. or Canada. Due to its environmental compliance initiatives, the U.S. will lead North America’s market.
Key Regions and Countries covered іn thе rероrt:
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of MEA
Due to the presence of many manufacturers with both a regional and global presence, the global industry is fragmented. BASF SE and Evonik Industries are among the companies that make ionic liquids. These companies produce ionic liquids for different purposes, such as solvents and catalysts, extractions, & separations, energy storage, etc.
Ionic Liquids Technologies GmbH and Reinste Nanoventure are also key players in this industry. This industry is dominated by Tokyo Chemical Industry Co.; Ltd., solvionic SA, some of the companies that operate in this sector.
Маrkеt Kеу Рlауеrѕ:
- BASF SE
- Evonik Industries
- Ionic Liquids Technologies GmbH
- Reinstate Nanoventure
- Tokyo Chemical Industry Co. Ltd.
- The 3M Company
- Lonza Group
- Other Key Players
For the Ionic Liquids Market research study, the following years have been considered to estimate the market size:
Particular Scope Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Historic Year 2016 to 2020 Base Year 2021 Estimated Year 2022 Forecast Year 2023 to 2032
Frequently Asked Questions (FAQ)What is the size of the Ionic liquids market in 2021?
The market size is estimated to be US$ 30.36 million in 2021.What is the projected CAGR at which the Ionic liquids market is expected to grow at?
The Ionic liquids market is expected to grow at a CAGR of 10.4% (2023-2032).List the segments encompassed in this report on the Ionic liquids market?
Market.US has segmented the Ionic liquids market by geography (North American region, Europe, APAC, South America, and the Middle East and Africa). By Type, the market has been segmented into Glycoside-Based Ionic liquids, Thiazolium аnd Веnzоthіаzоlіum ionic liquids, 1,2,3-trіаzоlіum ionic liquids, Ionic liquids from (Meth) Acrylic Compound. By Application, the market has been further divided into Solvents & Catalysts, Energy storage, Bio-refineries, Extractions & Separations, and Other Applications.List the key industry players of the Ionic liquids market?
BASF SE, Evonik Industries, Ionic Liquids Technologies GmbH, Reinste Nanoventure, Tokyo Chemical Industry Co. Ltd., Dupont, Linde, Strem Chemicals Inc., Evonik Industries AG, Solvay SA, Coorstek Chemical Co. Ltd., Jinkai Chemical Co., Strem Chemicals, Inc., Coorstek Specialty Chemicals, Tatva Chintan Pharma Chem Pvt. Ltd., Officine Maccaferri S.p.A, and Other Key Players are the key vendors in the Ionic Liquids market.Which region is more appealing for vendors employed in the Ionic liquids market?
North America is expected to account for the highest revenue share of 32%. Therefore, the market in North America is expected to garner significant business opportunities over the forecast period.Name the key areas of business for Ionic liquids?
The US, Canada, UK, Japan, Mexico, India, China & Germany are key areas of operation for the Ionic Liquids Market.Which segment accounts for the greatest market share in the Ionic liquids industry?
With respect to the Ionic liquids industry, vendors can expect to leverage greater prospective business opportunities through the Solvent & catalyst segment, as this area of interest accounts for the largest market share.
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