Ionic Liquids Market Challenges And Opportunities To 2027
Posted by rutikashete on December 30th, 2020
Ionic Liquids Market To Reach USD 65.8 Million By 2027
In 2027, the size of the Global Ionic Liquids Market is estimated to hit USD 65.8 million. Market growth is driven by the rising use of ionic liquids as industrial solvents, especially in the field of catalysts and solvents. In addition, the need for the development of green chemistry to address environmental challenges is expected to drive market growth during the forecast period.
Increasing environmental consciousness about green solvents is expected to drive the industry's growth. Different industries are booming in the North American region, and the use of ionic liquids in these industries has become widespread. The growing government budget for environmental enforcement programs has also pushed producers from various industries to embrace these liquids. Ionic liquids include chemical properties such as thermal stability, low vapor pressure, liquid crystalline structures, high thermal capacity, water miscibility or organic solvents.
The high cost of the raw materials used in ionic liquids and the complexities involved in their production process are a major factor limiting the industry's growth. These variables limit its use in various applications, such as biocatalyst, electroplating and deposition. Major market players are trying to embrace alternative manufacturing methods in order to produce more chemically refined, pure and cost-effective products.
The Asia Pacific market, mainly due to Japan's flourishing industry, is expected to see significant growth. Rapid urbanization and growth in the chemical sector could cause the growth of the market in this part of the world.
In March 2020, Proionic introduced an ionic liquid-based hydrogen storage technology that offers long-term stability and is both highly stable and non-flammable. In June 2020, Proionic launched "Electrolyte Summer Special" following the successful launch of IL-electrolyte BMPyrr FSI.
In 2019, Solvionic SA introduced the LiFSI-based Next Generation Electrolytes for Lithium-Ion Batteries.
There have been a number of M&A activities in the industry, such as the acquisition by The Chemours Group of Southern Ionic Minerals in 2019, the acquisition by BASF SE of Solvay's polyamide company in 2020 and the acquisition by Evonik Industries of PeroxyChem in 2020.
Key players in the market include
For the purpose of this report, Reports and Data has segmented the global Ionic Liquids Market on the basis of application, sales channel, end-user, and region:
Application Outlook (Revenue, USD Million; 2020-2027)
Sales Channel Outlook (Revenue, USD Million; 2020-2027)
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End-User Outlook (Revenue, USD Million; 2020-2027)
Regional Outlook (Revenue, USD Million; 2020-2027)
Key Points of the Report:
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About the Authorrutikashete
Joined: December 26th, 2019
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