Ionic Liquids Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 8.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ionic Liquids Market Analysis
The market for ionic liquid is expected to grow at a CAGR more than 8% globally during the forecast period. Ionic liquids are basically salt like minerals that are liquid having temperature below 100 °C. As their melting points is generally lower than 100 °C, they are also termed as room-temperature ionic liquids. Ionic liquids were earlier introduced as alternative green reaction media owing to their unique physical and chemical properties. The growing consumption of batteries and increasing use of the ionic liquids as industrial catalysts and solvents have been driving the market growth.
However, the aquatic toxicity related to ionic liquid and halt in industrial prduction due to outbreak of coronavirus across the globe is likely to hinder the growth of the studied market.
The growing application of ionic liquid in the pharmaceutical and cosmetic industry is likely to provide opportunities for the ionic liquid market over the next five years.
Asia-Pacific dominated the market across the globe with the largest consumption of batteries from countries such as China, India and Vietnam.
Ionic Liquids Market Trends
This section covers the major market trends shaping the Ionic Liquid Market according to our research experts:
Solvents and Catalyst to Dominate the Market
- Solvent and catalyst stand to be the dominating segment owing to ensure stringent regulations mandating the use of ionic liquid to conserve energy and achieve efficiency in operations.
- Beneficial properties of ionic liquids like low combustibility, chemically and thermally stable, volatility and good solvating properties due to which their ability to act as solvent and catalyst to speed up performance in various industries.
- Ionic Liquid are witnessing a strong rise in consumption in a number of industrial reactions as it improves productivity and yield of a chemical reaction. This anticipates propelling market growth in the forecast period.
- Stringent environmental regulations by governmental agencies such as Environmental Protection Agency (EPA) and European Union (EU) to control toxicity by minimizing the volatile organic compounds (VOCs) content in the environment are expected to positively impact the ionic liquids market.
- All the aforementioned factors are expected to drive the ionic liquid market during the forecast period.
Asia-Pacific Region to Dominate the Market
- Asia-Pacific region stands to be the largest and fastest-growing market for ionic liquid. Factors, such as the growing consumption of electronic goods in the region and increasing manufacturing company preference owing to low labor cost which in turn have been driving the ionic liquid requirements in Asia-Pacific.
- Ionic liquids are utilized in a variety of industrial applications including heat transfer fluids, azeotrope-breaking liquids, lubricants, electrolytes, liquid crystals, supported ionic liquid membranes, plasticizers, and more. Asian region is considered as an industrial hib with presence of industries which require ionic liquids in these applications. Countries like China, India, Indonesia, Japan and Vietnam are expected to contribute to the demand for ionic liquids.
- Shift in consumer perception towards adopting environment-friendly and green solvents owing to their chemically safe nature & low toxicity content is likely to drive market share over the forecasted period.
- Ionic liquid is being extensively used in sealants and electric battery applications. The rapid increase in renewable energy storage in the Asia Pacific region and increased consumption of electronic goods fosters the global ionic liquid market growth. The liquids also act as electrolytes for dye-synthesized solar cells and thermos-cells.
- Hence, all such market trends are expected to drive the demand for ionic liquid market in the region during the forecast period.
Ionic Liquids Industry Overview
The global ionic liquid market is consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are BASF SE, TCI America, SOLVIONIC, KOEI CHEMICAL CO., LTD. and Solvay amongst others
Ionic Liquids Market Leaders
BASF SE
TCI America
SOLVIONIC
KOEI CHEMICAL CO., LTD.
Solvay
*Disclaimer: Major Players sorted in no particular order
Ionic Liquids Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Increasing Use of Ionic Liquid as Industrial Solvents
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4.1.2 Growing Consumption of Batteries
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4.2 Restraints
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4.2.1 Aquatic Toxicity Related to Ionic Liquid
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4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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4.3 Industry Value Chain Analysis
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4.4 Porters Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Buyers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Application
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5.1.1 Solvents & Catalysts
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5.1.2 Process & Operating Fluids
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5.1.3 Plastics
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5.1.4 Energy Storage
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5.1.5 Bio-Refineries
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5.1.6 Others
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5.2 Geography
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5.2.1 Asia-Pacific
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5.2.1.1 China
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5.2.1.2 India
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5.2.1.3 Japan
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5.2.1.4 South Korea
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5.2.1.5 Rest of Asia-Pacific
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5.2.2 North America
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5.2.2.1 United States
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5.2.2.2 Canada
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5.2.2.3 Mexico
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5.2.3 Europe
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5.2.3.1 Germany
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5.2.3.2 United Kingdom
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5.2.3.3 France
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5.2.3.4 Italy
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5.2.3.5 Rest of Europe
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5.2.4 South America
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5.2.4.1 Brazil
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5.2.4.2 Argentina
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5.2.4.3 Rest of South America
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5.2.5 Middle-East and Africa
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5.2.5.1 Saudi Arabia
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5.2.5.2 South Africa
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5.2.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share (%)/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 BASF SE
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6.4.2 Iolitec Ionic Liquids Technologies GmbH
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6.4.3 KOEI CHEMICAL CO., LTD.
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6.4.4 Kumidas SA.
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6.4.5 Ottokemi.
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6.4.6 Reinste
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6.4.7 Solvay
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6.4.8 SOLVIONIC
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6.4.9 TCI America
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6.4.10 Tokyo Chemical Industry Co., Ltd
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Growing Application in Pharmaceutical and Cosmetic Industry
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7.2 Other Opportunities
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Ionic Liquids Industry Segmentation
The Ionic Liquid Market report include:
| Application | |
| Solvents & Catalysts | |
| Process & Operating Fluids | |
| Plastics | |
| Energy Storage | |
| Bio-Refineries | |
| Others |
| Geography | |||||||
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Ionic Liquids Market Research FAQs
What is the current Ionic Liquid Market size?
The Ionic Liquid Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)
Who are the key players in Ionic Liquid Market?
BASF SE, TCI America, SOLVIONIC, KOEI CHEMICAL CO., LTD. and Solvay are the major companies operating in the Ionic Liquid Market.
Which is the fastest growing region in Ionic Liquid Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Ionic Liquid Market?
In 2024, the Asia Pacific accounts for the largest market share in Ionic Liquid Market.
What years does this Ionic Liquid Market cover?
The report covers the Ionic Liquid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ionic Liquid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Ionic Liquids Industry Report
Statistics for the 2024 Ionic Liquids market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Ionic Liquids analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
