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Ionic Liquids Market Analysis Report By Product, By Application, By End Use, By Region & Segment Forecasts, 2021-2027

Reports And Data

Reports And Data

Ionic Liquids Market Size – USD 33.3 million in 2019, Market Growth - CAGR of 8.8%, Market Trends – High demand from catalysts and solvents sector.

NEW YORK CITY, NY, UNITED STATES, November 23, 2021 /EINPresswire.com/ -- 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.

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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.

Top Key Companies:
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.

Market Overview:
Businesses involved in the discovery, production, and processing of raw resources are classified as part of the basic materials sector. Mining and metal refining, chemical goods, and forestry products are all part of this industry.

The enterprises that supply the majority of the materials needed in building are found in this sector. As a result, the companies and their stocks are sensitive to business cycle shifts. When the economy is robust, they tend to thrive.

The physical acquisition, development, and early processing of the many items often referred to as raw materials are all handled by companies in the basic materials sector. Examples include oil, gold, and stone.

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.
There have been a number of M&A in the industry like The Chemours Company acquiring Southern Ionic Minerals in 2019, BASF SE acquiring polyamide business from Solvay in 2020 and Evonik Industries acquiring PeroxyChem in 2020.

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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)
Offline
Online

End User Outlook (Revenue, USD Million; 2020-2027)
Catalysts & Solvents
Food
Paper & Pulp
Electronics
Bio-refineries
Automotive
Pharmaceuticals
Others

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Regional Outlook (Revenue, USD Million; 2020-2027)
North America
Europe
Asia Pacific
MEA
Latin America

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