The Ionic Liquids Market is expected to increase at a compound yearly growth rate of 11.5% between 2023 and 2030, reaching USD 45.9 million.
The market is predicted to grow significantly over the forecast period on account of the increasing use of ionic liquids as industrial solvents. Rising environmental that specialize in green chemistry is anticipated to drive the demand for the product as a green solvent.
Ionic liquids are widely utilized in applications like solvents & catalysts. Also, rising demand from the extractions & separations application is further expected to drive the industry over the forecast period.
Growing demand for processed food products, rising income, and expansion of supermarkets primarily in emerging economies like China, India, Indonesia, and Brazil should end in a major expansion of the food sector and stimulate the Ionic liquids market share. Growing adoption of carotenoids in dietary supplements, increasing consumer awareness regarding the health benefits of natural colors like enhanced growth, immunity & eye health should drive carotenoid adoption in food processing and further boost product demand.
Significant efforts by domestic automotive manufacturers to aggressively retrench & restructure their business models to tackle the adverse effects of declining vehicle sales, recession, trade wars, and emission regulations should boost automotive sector growth. Recent research indicates that the adoption of ionic liquids as oil additives increases the energy efficiency of internal combustion engines which represents ample growth opportunities within the wake of the rising trend of growing environmental consciousness & sustainability.
Covid-19 Impact on Ionic Liquids Market:
The ongoing COVID-19 pandemic condition has severely affected every sector around the world. Whereas, the chemicals and materials sectors moderately affected during the pandemic. This is primarily due to uncut demand of chemicals for healthcare, life science and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing diminution in demand. Strict lockdown resulted in nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end use industries directly affected the chemical demand all around the world.
Ionic Liquids Market Segment Overview
Market segmented in based on application such as Catalysis/Synthesis, Food, Paper and Pulp, Electronics, Biotechnology, Auotomotive, Pharmaceuticles, Others.
Among this application, electronics products register extensive usage in electrochemical capacitors, electro catalysis, electro synthesis, and electrodeposition. The industry is witnessing the growing adoption of conducting polymers in products like chemical sensors, photovoltaics, batteries, electromechanical actuators, and supercapacitors due to the similarity of those polymers to metals with reference to their magnetic, optical and electronic properties but possess lower densities. The merchandise is important for the assembly and usage of conducting polymers which represent health growth opportunities.
Additionally, Growing demand for wearable devices in recent years like gadgets which will monitor sweat metabolites, pulse, and body movements should augment ionic liquid market growth. The first challenge faced by these devices is their inability to deform consistent with body movement. Ionic liquids offer significant potential to counteract this challenge due to their lower Young’s modulus compared to standard polymers wont to produce electronic devices which should trigger ionic liquids market share.
Market Analysis, Insights and Forecast – By Application
· Catalysis/Synthesis
· Food
· Paper & pulp
· Electronics
· Biotechnology
· Automotive
· Pharmaceuticals
· Others
Ionic Liquids Market Regional Overview
Region-wise, in terms of regions, North America was the most important marketplace for ionic liquids accounting for quite 30% of the revenue in 2015. The presence of various prominent mining companies within the U.S, due to the presence of state support is predicted to play an important role in increasing demand for the merchandise. Also, the prevalence of various regional players within the region within the U.S. and Canada will fuel the merchandise growth.
Germany should exceed USD 1.5 billion by the top of the anticipated period. The presence of a well-established chemical manufacturing base within the country alongside the relocation of leading chemical manufacturers to Germany to avail the superb research & logistical facilities should accelerate the domestic chemical sector and drive ionic liquids to demand.
Germany is witnessing an increasing specialise in adopting a circular economy, sustainability, protection of natural resources, and handling global climate change which should boost ionic liquids usage as solvents and catalysts within the chemical sector. These products are considered green chemicals and permit the designing of sustainable chemical processes.
Ionic Liquids Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Ionic Liquids Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Ionic Liquids are highlighted below.
· In April 2021, Honeywell and Chevron Corporation commissioned the world’s first ISOALKYL facility thus allows cost effective production of alkylates.
Ionic Liquids Market, Key Players
· BASF SE
· Evonik Industries
· Merck KGAA
· Solvay S.A.
· The Chemours Company
· Ionic Liquids Technologies GmbH
· Reinste Nanoventure
· Solvionic SA
· Tatva Chintan Pharma Chem Pvt. Ltd
· Tokyo Chemical Industry Co., Ltd.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Ionic Liquids Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Application
- 5.2.1. Catalysis/Synthesis
- 5.2.2. Food
- 5.2.3. Paper & pulp
- 5.2.4. Electronics
- 5.2.5. Biotechnology
- 5.2.6. Automotive
- 5.2.7. Pharmaceuticals
- 5.2.8. Others
- 5.3. Market Analysis, Insights and Forecast – By Region
- 5.3.1. North America
- 5.3.2. Europe
- 5.3.3. Asia Pacific
- 5.3.4. Latin America, Middle East, and Africa
6. North America Ionic Liquids Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Application
- 6.2.1. Catalysis/Synthesis
- 6.2.2. Food
- 6.2.3. Paper & pulp
- 6.2.4. Electronics
- 6.2.5. Biotechnology
- 6.2.6. Automotive
- 6.2.7. Pharmaceuticals
- 6.2.8. Others
- 6.3. Market Analysis, Insights and Forecast – By Country
- 6.3.1. U.S.
- 6.3.2. Canada
7. Europe Ionic Liquids Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Application
- 7.2.1. Catalysis/Synthesis
- 7.2.2. Food
- 7.2.3. Paper & pulp
- 7.2.4. Electronics
- 7.2.5. Biotechnology
- 7.2.6. Automotive
- 7.2.7. Pharmaceuticals
- 7.2.8. Others
- 7.3. Market Analysis, Insights and Forecast – By Country
- 7.3.1. UK
- 7.3.2. Germany
- 7.3.3. France
- 7.3.4. Italy
- 7.3.5. Spain
- 7.3.6. Russia
- 7.3.7. Rest of Europe
8. Asia Pacific Ionic Liquids Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Application
- 8.2.1. Catalysis/Synthesis
- 8.2.2. Food
- 8.2.3. Paper & pulp
- 8.2.4. Electronics
- 8.2.5. Biotechnology
- 8.2.6. Automotive
- 8.2.7. Pharmaceuticals
- 8.2.8. Others
- 8.3. Market Analysis, Insights and Forecast – By Country
- 8.3.1. China
- 8.3.2. India
- 8.3.3. Japan
- 8.3.4. Australia
- 8.3.5. South East Asia
- 8.3.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa Ionic Liquids Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Application
- 9.2.1. Catalysis/Synthesis
- 9.2.2. Food
- 9.2.3. Paper & pulp
- 9.2.4. Electronics
- 9.2.5. Biotechnology
- 9.2.6. Automotive
- 9.2.7. Pharmaceuticals
- 9.2.8. Others
- 9.3. Market Analysis, Insights and Forecast – By Country
- 9.3.1. Brazil
- 9.3.2. Saudi Arabia
- 9.3.3. UAE
- 9.3.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. BASF SE
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Evonik Industries
- 10.6. Merck KGAA
- 10.7. Solvay S.A.
- 10.8. The Chemours Company
- 10.9. Ionic Liquids Technologies GmbH
- 10.10. Reinste Nanoventure
- 10.11. Solvionic SA
- 10.12. Tatva Chintan Pharma Chem Pvt. Ltd
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
