Ionic Liquids Market To Reach USD 65.8 Million By 2027

In 2027, the size of the Global Ionic Liquids Marketis estimated to hit USD 65.8 million. Market growth is driven by the rising useof ionic liquids as industrial solvents, especially in the field of catalystsand solvents. In addition, the need for the development of green chemistry toaddress environmental challenges is expected to drive market growth during theforecast period.

Increasing environmental consciousnessabout green solvents is expected to drive the industry's growth. Differentindustries are booming in the North American region, and the use of ionicliquids in these industries has become widespread. The growing governmentbudget for environmental enforcement programs has also pushed producers fromvarious industries to embrace these liquids. Ionic liquids include chemicalproperties such as thermal stability, low vapor pressure, liquid crystallinestructures, high thermal capacity, water miscibility or organic solvents.

The high cost of the raw materials usedin ionic liquids and the complexities involved in their production process area major factor limiting the industry's growth. These variables limit its use invarious applications, such as biocatalyst, electroplating and deposition. Majormarket players are trying to embrace alternative manufacturing methods in orderto produce more chemically refined, pure and cost-effective products.

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The Asia Pacific market, mainly due toJapan's flourishing industry, is expected to see significant growth. Rapid urbanizationand growth in the chemical sector could cause the growth of the market in thispart of the world.

In March 2020, Proionic introduced anionic liquid-based hydrogen storage technology that offers long-term stabilityand is both highly stable and non-flammable. In June 2020, Proionic launched"Electrolyte Summer Special" following the successful launch ofIL-electrolyte BMPyrr FSI.

In 2019, Solvionic SA introduced theLiFSI-based Next Generation Electrolytes for Lithium-Ion Batteries.

There have been a number of M&Aactivities in the industry, such as the acquisition by The Chemours Group ofSouthern Ionic Minerals in 2019, the acquisition by BASF SE of Solvay'spolyamide company in 2020 and the acquisition by Evonik Industries ofPeroxyChem in 2020.

Keyplayers in the market include

· BASF SE

· Evonik Industries

· Solvay S.A.

· Merck KGAA

· The Chemours Company

· Proionic

· Solvionic SA

· Ionic Liquids Technologies GmbH

· Strem Chemicals, Inc.

· Coorstek Specialty Chemicals

For the purpose of this report, Reportsand Data has segmented the global Ionic Liquids Market on the basis ofapplication, sales channel, end-user, and region:

Application Outlook (Revenue, USD Million; 2020-2027)

· Process Chemicals

· Performance Chemicals

Sales Channel Outlook (Revenue, USD Million; 2020-2027)

· Offline

· Online

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End-User Outlook (Revenue, USD Million; 2020-2027)

· Catalysts &Solvents

· Food

· Paper & Pulp

· Electronics

· Bio-refineries

· Automotive

· Pharmaceuticals

· Others

Regional Outlook (Revenue, USD Million; 2020-2027)

· North America

o U.S.

o Canada

· Europe

o Germany

o U.K.

o France

o BENELUX

o Rest of Europe

· Asia Pacific

o China

o Japan

o South Korea

o Rest of APAC

· Latin America

o Brazil

o Rest of LATAM

· Middle East & Africa

o Saudi Arabia

o U.A.E.

o Rest of MEA

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Key Points of the Report:

· Market Overview: This section of the report offers actionableinsights into the global Ionic Liquids market, encompassing the historical andfuture timelines, key dynamics, latest market trends, growth trajectories, andthe future market scope. It highlights the principal market segments, includingthe main product types, application gamut, end-user industries, and regionalspectrum.

· Executive Summary: In this section of the report, acomprehensive assessment of the competitive landscape of the market, regionalmapping, CAGR, and various crucial parameters like key market drivers,restraints, trends, challenges, and growth prospects.

· COVID-19 Impact Analysis: The report closely analyzes the impact of theCOVID-19 pandemic on numerous aspects of the Ionic Liquids industry, such asproduction capacity, consumption rate, import-export status, demand &supply ratio, and the estimated revenue generation of each regional segment.

· Competitive Landscape: This segment of the report systematically profilesthe leading companies functioning in the Ionic Liquids industry. Moreover, thereport emphasizes the global market value & volume, product portfolios,production capacity, and other vital aspects of these companies.

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