Global Ionic Liquid Market is segmented By Product Type (Ammonium, Imidazolium, Phosphonium, Pyrrolidinium, Pyridinium, Others), By Application (Catalysts, Solvents, Lubricant Additives, Electrolytes, Antistatics, Others), By End-User (Petrochemicals, Fine Chemicals, Pharmaceuticals, Bio-Technology, Hydrometallurgy, Nuclear Sciences, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Ionic Liquid Market is estimated to reach at CAGR of 8.8% during the forecast period (2024-2031).
Ionic liquids are non-volatile, non-inflammable salts that are liquid at a near arbitrary temperature below 100°C. Ionic liquids offer thermal stability, chemical stability, a wide electrochemical window, low vapour pressure and tunable miscibility. Because of these unique properties, ionic liquids are used for various applications as performance and processes chemicals.
Moreover, ionic liquids are seen as green solvents due to their negligible vapor pressures and are essential in green chemistry and clean technology. In recent years, the development of environment-friendly "clean processes" has become necessary in the chemical industry. Hence, the growing demand for green and clean chemicals and a wide range of applications is expected to increase the market of ionic liquids over the forecast period.
Market Scope
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Metrics |
Details |
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Market CAGR |
8.8% |
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Segments Covered |
By Product Type, By Application, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
Asia Pacific |
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Market Growth Trends
Increasing demand for green and clean chemicals in the chemical industry is anticipated to drive the ionic liquid market
Ionic liquids are drawing global attention in the field of green chemistry. Ionic liquids do not disperse into environments as they are easily isolated and reused by heating and separating. Also, ionic liquids are green solvents and safe as they have negligible vapor pressure and are non-volatile and flameproof. Hence, ionic liquids are seen as a suitable replacement for volatile organic solvents (VOCs).
In recent years, the development of environment-friendly "clean processes" has become a need in the chemical industry and thus expected to drive the ionic liquids market.
The high processing cost of ionic liquid is hindering its market growth
Ionic liquids are expensive in processing. This is because the purification is complex, as it cannot be distilled due to the low vapor pressure. For instance, proionic’s products go for more than $800 per kilogram. Prices can decline with more significant economies of scale. An order of a metric ton of the same material might cost as little as $300 per kilogram, and that price might get down to $150 per kilogram for a 5t order. Moreover, ionic liquids can present challenges, mainly stemming from commercial-scale ionic liquid quantities' procurement cost.
Market Segmentation Analysis
Based on application, the ionic liquid market is segmented into catalysts, solvents, lubricant additives, electrolytes, antistatics and others.
Ionic liquids are used for applications such as catalysts for phase transfer catalysts and epoxy resin curing. Epoxy resins are mainly used in coatings, composite materials, electronics and adhesives. Ionic liquids have various benefits in catalysts, including fast curing, exceptionally high Tg, excellent clarity in cured epoxy resin systems, increased hydrophobicity of fixed systems, and compatibility with a continuous process.
Moreover, ionic liquids are suited for use as phase transfer catalysts for various chemical reactions. Advantages of phase transfer catalysts in reactions are fewer side reactions, faster reactions, increased yields, mild conditions and raw material usage savings.
Market Geographical Share
Ionic liquid market share is mainly spread into these five regions- North America, Europe, South America, Asia-Pacific and Middle East & Africa.
Asia-Pacific is expected to dominate the market of ionic liquid
Asia-Pacific is the largest and fastest-growing market for ionic liquids. The growing consumption of electronic goods in the region and increasing manufacturing company preference drive the ionic liquid requirements in Asia-Pacific. Ionic liquids are utilized in various industrial applications such as lubricants, electrolytes, liquid crystals, supported ionic liquid membranes, plasticizers, and more. The Asian region is considered an industrial hub with the presence of these industries. Countries like China, India, Japan, Indonesia, and Vietnam are expected to contribute to ionic liquids' demand.
Moreover, a shift in adopting environment-friendly and green chemicals and technology owing to their chemically safe nature and low toxicity content is likely to drive market share over the forecasted period.
The ionic liquid is being extensively used in sealants and electric battery applications. The rapid increase in renewable energy storage in the Asia-Pacific and increased consumption of electronic goods proliferate the global ionic liquid market growth.
Companies and Competitive Landscape
The ionic liquid market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include BASF SE, KOEI CHEMICAL CO., LTD., TCI America, SOLVIONIC, Solvay, Ionic Liquid Chemicals LLC, HIDEN ISOCHEMA LTD, Nano TechLabs, Inc., Strem Chemicals, Inc., Solvent Innovation GmbH among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the ionic liquid market globally.
BASF SE
Overview: BASF SE is a German multinational chemical company, headquartered in Ludwigshafen, Germany. It is the largest chemical producer in the world. It comprises subsidiaries and joint ventures in more than 80 countries. Also, the company operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas and Africa.
Product Portfolio: Basionics™ LQ 01 is a product of BASF SE, an ionic liquid with low viscosity and excellent thermal and mechanical stability. It is used as an additive for molding compounds and foams, for example in the antistatic finishing of safety shoes.
Key Developments:
On January 31, 2020, BASF SE closed the acquisition of Solvay’s polyamide business DOMO Chemicals, Leuna, Germany. It enhances the company’s access to growth markets in Asia as well as in North and South America.
