Ionic Liquid Market Size & Share, by Component type (Ammonium, Imidazolium, Phosphonium, Pyridinium, Pyrrolidinium); Application (Catalysts & Solvents, Process & Operating Fluids, Plastics, Bio-Refineries) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 2891
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Ionic Liquid Market size was over USD 48.01 million in 2023 and is projected to exceed USD 154.37 million by the end of 2036, witnessing over 9.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ionic liquid is evaluated at USD 51.62 million.

key reason behind this growth is the utilization of ionic liquid in variety of industries, majorly as an industrial solvent, owing to its exceptional properties such as low combustibility and high thermal stability among others. Factors including the increasing demand for ionic liquids for performing extraction and separation processes, and the rising emphasis on formulating solvents on the basis of green chemistry principles are also projected to boost the growth of the market in the near future.


Ionic Liquid Market
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Ionic Liquid Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Use of Ionic Liquid as an Industrial Solvent
  • Growing Demand for Ionic Liquids for Extraction and Separation Processes

Restraints

  • Fluctuating Prices of Raw Materials
  • Aquatic Toxicity Associated with Ionic Liquids

Ionic Liquid Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

9.4%

Base Year Market Size (2023)

USD 48.01 million

Forecast Year Market Size (2036)

USD 154.37 million

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Ionic Liquid Segmentation

On the basis of application, the segment for catalysts & solvents is estimated to grab the largest market share in 2021 as a result of their characteristics such as high chemical stability and excellent solvation properties. Stringent government regulations to minimize the volatile organic compounds (VOC) emissions is also expected to drive the growth of this market segment. For instance, the discharge of VOCs to outdoor areas is restricted by EPA in the United States to prevent ozone formation that further leads to the creation of photochemical smog. 

Our in-depth analysis of the global market includes the following segments

By Component type

  • Ammonium
  • Imidazolium
  • Phosphonium
  • Pyridinium
  • Pyrrolidinium
  • Others

By Application

  • Catalysts & Solvents
  • Process & Operating Fluids
  • Plastics
  • Bio-Refineries
  • Others

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Ionic Liquid Industry - Regional Synopsis

APAC Market Statistics

Based on the region-wise analysis, the ionic liquid market is segmented into five significant zones including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific industry is anticipated to hold largest revenue share by 2036, owing to high consumption of ionic liquids in the electronic goods industry, and rising demand for ionic liquids. Various researches predict that China alone accounted for more than 28% of global manufacturing output in 2018.In addition, Asia Pacific is also one of the largest chemicals producing region in the world.

North America Market Analysis

On the other hand, the market in North America is also anticipated to hold a significant market share owing to the presence of leading industrial manufacturers in this region. Along with this, the presence of prominent mining companies, which are an extensive user of ionic liquids, is also evaluated to offer growth opportunities to the market in this region.

Research Nester
Ionic Liquid Market Share
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Companies Dominating the Ionic Liquid Landscape

    • Tokyo Chemical Industry Co., Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • KOEI CHEMICAL CO., LTD.
    • BASF SE
    • SOLVIONIC
    • Solvay SA
    • Merck KGaA
    • Evonik Industries AG
    • Iolitec Ionic Liquids Technologies GmbH
    • Strem Chemicals, Inc.
    • Reinste Nano Ventures Pvt. Ltd.

Author Credits:  Rajrani Baghel


  • Report ID: 2891
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT
Ionic Liquid Market Report Scope
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