Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Ionic Liquid Market size was valued at USD 52.52 million in 2024 and is expected to reach USD 168.87 million by 2037, registering around 9.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of ionic liquid is assessed at USD 56.72 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 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
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
9.4% |
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Base Year Market Size (2024) |
USD 52.52 million |
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Forecast Year Market Size (2037) |
USD 168.87 million |
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Regional Scope |
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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
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By Component type |
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By Application |
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Customize this ReportIonic 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 predicted to dominate majority revenue share by 2037, 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.
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: Dec 23, 2024
- Report Format: PDF, PPT
