14-Sep-2022 | Facts and Factors
According to Facts and Factors, the global ionic liquids market size was worth USD 1.50 billion in 2021 and is estimated to grow to USD 4.06 billion by 2028, with a compound annual growth rate (CAGR) of approximately 18.10% over the forecast period. The report analyzes the ionic liquids market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in the ionic liquids market.
Ionic liquids have melting points below 100°C, and some are liquids below room temperature. Different ionic liquids with different properties can be produced by combining different cations and anions. Ionic liquids exhibit very low vapor pressure, non-volatility, high ionic conductivity, and high electrochemical and thermal stability over wide temperature ranges. Room-temperature ionic liquids are promising as environmentally friendly alternatives to volatile organic solvents due to their ease of reuse, non-volatility, thermal stability, and ability to dissolve various organic and organometallic compounds. Ionic liquids offer great potential as alternatives to organic solvents in manufacturing several biologically active compounds, including active pharmaceutical ingredients (APIs), which should drive product demand from pharmaceutical applications. Ionic liquids are used as environmentally friendly solvents due to they are non-volatile, easy to recycle, and non-flammable. Moreover, ionic liquids are thermodynamically stable and do not corrode.
Browse the full “Ionic Liquids Market Size, Share, Growth Analysis Report By Application (Solvents & Catalysts, Process & Operating Fluids, Plastics, Batteries & Electrochemistry, And Bio-Refineries), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/ionic-liquids-market
Technological advances in electronics play a key role in driving the global ionic liquid market, as ionic liquids are used in internal combustion engines and micro-electromechanical systems (MEMS). Growing environmental & health concerns and stringent regulatory pressure drive the ionic liquid market. Ionic liquids are used as an alternative to traditional solvents and are considered to be more environmentally friendly solvents. Interior design market growth is boosting the ionic liquid market as ionic liquids are widely consumed for furniture coating purposes. Consumption revenue is another factor driving the ionic liquid market. Industrial development in developing countries also contributes to the growth of the market. Furthermore, the development of adhesives, inks, and chemical treatments accounts for a large portion of ionic liquids' consumption and drives the market for ionic liquids.
The global ionic liquids market has been segmented into applications and regions. Based on application, the market is classified into solvents & catalysts, process & operating fluids, plastics, batteries & electrochemistry, and bio-refineries. In 2021, the solvents & catalysts category dominated the global market. These products are widely used in various chemical reactions such as condensation of ketones and aldehydes with hydroxylamines, Michael addition of active methylene compounds, aza-Michael addition reactions, and synthesis of pyrroles and quinolines.
The global ionic liquids market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. North America is anticipated to have a dominating position in the global market for ionic liquids during the forecast period. The U.S. sees increased investment by manufacturers in new vehicle technologies such as electric vehicles (EVs) and connected & autonomous driving technologies, which are expected to propel the automotive industry and boost market growth. Ionic liquids are increasingly used as lubrication additives in gear oils due to their ability to reduce cracking, vibration noise, and surface damage & wear loss. Significant efforts by domestic automakers to aggressively adjust and restructure their business models to cope with declining auto sales, recession, trade wars, and adverse effects of emissions regulations that will spur growth in the automotive sector should be applied. Recent studies have shown that introducing ionic liquids as oil additives improves the energy efficiency of internal combustion engines. It offers ample growth opportunities as environmental awareness and sustainability trends increase.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 1.50 Billion |
Projected Market Size in 2028 |
USD 4.06 Billion |
CAGR Growth Rate |
18.10% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
BASF SE, Evonik Industries AG, Merck KGaA, Ionic Liquids Technologies GmbH, The Chemours Company, Proionic, Solvionic SA, CoorsTek Specialty Chemicals, Jinkai Chemical Co. Ltd., Reinste Nanoventure, Tatva Chintan Pharma Chem Pvt. Ltd., Strem Chemicals Inc., and Others |
Key Segment |
By Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Key players in the global ionic liquids market include BASF SE, Evonik Industries AG, Merck KGaA, Ionic Liquids Technologies GmbH, The Chemours Company, Proionic, Solvionic SA, CoorsTek Specialty Chemicals, Reinste Nanoventure, Jinkai Chemical Co., Ltd., Tatva Chintan Pharma Chem Pvt. Ltd., and Strem Chemicals Inc.
Recent Development:
- In June 2020: After the successful market launch of the IL electrolyte BMPyrr FSI, Proionic launched the "Electrolyte Summer Special."
- In 2019: Solvionic SA introduced a next-generation LiFSI-based electrolyte for lithium-ion batteries.
Global Ionic Liquids Market is segmented as follows:
By Application
- Solvents & catalysts
- Process & operating fluids
- Plastics
- Batteries & electrochemistry
- Bio-refineries
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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