Market Size of Ionic Liquid Industry
| 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.
