Global Ionic Liquids Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Ionic Liquids Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Ionic liquids are basically salt like minerals that are liquid having temperature below 100 °C. As their melting points are generally lower than 100 °C, they are also termed as room-temperature ionic liquids. Ionic liquids were earlier introduced as alternative green reaction media owing to their unique physical and chemical properties such as thermal stability, electrical conductivity, low vapour pressure, resistant to oxidation etc.

Market Overview:

The latest research study on the global Ionic Liquids market finds that the global Ionic Liquids market reached a value of USD 547.42 million in 2022. It’s expected that the market will achieve USD 1362.25 million by 2028, exhibiting a CAGR of 16.41% during the forecast period.

Market Drivers

Strict environmental regulations that control toxicity by government agencies such as the Environmental Protection Agency (EPA) and the European Union by minimizing the content of volatile organic compounds (VOC) in the environment are expected to have a positive impact on the market for ionic liquids in green solvents. Increasing environmental and health issues and strong regulatory pressure are driving the ionic liquid market. Ionic liquids are used as a substitute for traditional solvents and are considered to be more environmentally friendly solvents.

In addition, the use of ionic liquids to convert biomass into biofuels and other chemical products, especially the fractionation of wood into main components, such as hemicellulose, lignin, and cellulose, is now one of the main focuses of global ionic liquid research. Therefore, it in turn supports the demand for ionic liquids and is expected to promote the global ionic liquid market during the forecast period.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

The top three companies are BASF, Solvay and DKS with the revenue market share of 16.27%, 14.40% and 9.34% in 2020.

BASF SE is a chemical company. The Company operates in six segments, including chemicals, plastics, performance products, functional solutions, agricultural solutions, and oil and gas. BASF offers products for the chemical, automotive, construction, agriculture, oil, plastics, electrical, electronics, furniture, and paper industries, and provides a range of system solutions and services.

Solvay is a Belgium-based producer of chemicals, plastics, and composites. The company has a top-three market position for nearly all of its products. High-value products include aerospace composites and specialty polymers while traditional chemical products include soda ash and hydrogen peroxide.

Segmentation Overview:

Among different product types, Imidazolium ILs segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Organic Synthesis segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Ionic Liquids market covered in Chapter 3:

Huizhou ALR Chem
Proionic
Solvionic
BASF
Zhejiang Lande Energy Technology
Jiangxi Jinkai Chemical
Linzhou Keneng Material Technology
Koei Chemical
DKS
IoLiTec Ionic Liquids Technologies
Solvay

In Chapter 4 and Chapter 14.2, on the basis of types, the Ionic Liquids market from 2018 to 2029 is primarily split into:

Imidazolium ILs
Pyrilidinium ILs
Ammonium ILs
Phosphonium ILs
Pyrrolidinium ILs
Piperidinium ILs

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Ionic Liquids market from 2018 to 2029 covers:

Organic Synthesis
Antistatic Additives
Electropolishing
Paint Additives
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)