The Global Ionic Liquids Market is projected to reach USD 65.8 million in 2027. Increasing usage of ionic liquids as industrial solvents specially in Catalysts and Solvents industry is driving the market’s growth. Apart from this, need for development of green chemistry in order to address environmental concerns is predicted to fuel the market’s growth during the forecast period.

Increasing environmental awareness regarding green solvents is expected to boost the market’s growth. Various industries are flourishing in the North American region and the usage of ionic liquids has become common in these industries. The increasing government budget for environmental compliance programs are also forcing manufacturers of different sectors to adopt these liquids. Ionic liquids possess chemical properties like thermal stability, low vapour pressure, liquid crystalline structures, high heat capacity, miscibility with water or organic solvents. The products offered by the market are widely used in industrial reactions in the form of solvents and catalysts.

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BASF SE, Evonik Industries, Solvay S.A., Merck KGAA, The Chemours Company, Proionic, Solvionic SA, Ionic Liquids Technologies GmbH, Strem Chemicals Inc. and Coorstek Specialty Chemicals.

The major factor restraining the industry’s growth is the high cost of the raw materials used in ionic liquids and the complexity involved in its manufacturing process. These factors limit its usage in various applications like biocatalyst, electroplating and deposition. Major players of the market are trying to adopt alternative manufacturing processes in order to produce more chemically refined, pure and cost-effective products.

Further key findings from the report suggest

Ionic liquids are used as process chemicals in a variety of chemical processes like separation and purification.
Offline sales channel is popular among small suppliers and producers who are trying to cater to the domestic markets of their respective regions.
Increase in investments in bio-refinery processes is likely to have a positive impact on the growth of the industry.
The Asia Pacific market is expected to witness significant growth mainly due to the flourish of the industry in Japan. Rapid urbanization and growth of chemical sector may trigger the market’s growth in this part of the world.
In March 2020, Proionic introduced ionic liquid based hydrogen storage technology which offers long term stability and are extremely safe as well as non-flammable.
There have been a number of M&A in the industry like The Chemours Company acquiring Southern Ionic Minerals in 2019, BASF SE acquiring polyamide business from Solvay in 2020 and Evonik Industries acquiring PeroxyChem in 2020.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/ionic-liquids-market

For the purpose of this report, Reports and Data have segmented into the global Ionic Liquids Market on the basis of Application, 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
End User Outlook (Revenue, USD Million; 2020-2027)

Catalysts & Solvents
Food
Paper & Pulp
Electronics
Bio-refineries
Automotive
Pharmaceuticals
Others
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Regional Outlook (Revenue, USD Million; 2020-2027)

North America
U.S
Canada
Europe
Germany
UK
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of APAC
MEA
Saudi Arabia
UAE
Rest of MEA
Latin America
Brazil
Rest of LATAM
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