Global Ionic Liquid Market - 2020-2027
発行: DataM Intelligence
ページ情報: 英文 180 Pages
The global ionic liquid market size was worth USD XX billion in 2019 and is estimated to reach USD XX billion by 2027, growing at a CAGR of XX % during the forecast period (2020-2027).
Ionic liquids are non-volatile, non-inflammable salts that are liquid at near arbitrary temperature below 100°C. Ionic liquids offer thermal stability, chemical stability, a wide electrochemical window, low vapor pressure and tunable miscibility. Because of these unique properties, ionic liquids are used for various applications as performance and processes chemicals.
Moreover, ionic liquids are seen as green solvents due to their negligible vapor pressures and are essential in green chemistry and clean technology. In recent years, the development of environment-friendly "clean processes" has become necessary in the chemical industry. Hence, the growing demand for green and clean chemicals and a wide range of applications is expected to increase the market of ionic liquids over the forecast period.
Increasing demand of green and clean chemicals in the chemical industry is anticipated to drive the ionic liquid market
Ionic liquids are drawing global attention in the field of green chemistry. Ionic liquids do not disperse into environments as they are easily isolated and reused by heating and separating. Also, ionic liquids are green solvents and safe as they have negligible vapor pressure and are non-volatile and flameproof. Hence, ionic liquids are seen as suitable replacement for volatile organic solvents (VOCs).
In recent years, the development of environment-friendly "clean processes" has become a need in the chemical industry and thus expected to drive the ionic liquids market.
High processing cost of ionic liquid is hindering its market growth
Ionic liquids are expensive in processing. This is because the purification is complex, as it cannot be distilled due to the low vapor pressure. For instance, proionic's products go for more than $800 per kilogram. Prices can decline with more significant economies of scale. An order of a metric ton of the same material might cost as little as $300 per kilogram, and that price might get down to $150 per kilogram for a 5t order. Moreover, ionic liquids can present challenges, mainly stemming from commercial-scale ionic liquid quantities' procurement cost.
Based on application, ionic liquid market is segmented into catalysts, solvents, lubricant additives, electrolytes, antistatics and others.
Ionic liquids are used for applications such as catalysts for phase transfer catalysts and epoxy resin curing. Epoxy resins are mainly used in coatings, composite materials, electronics and adhesives. Ionic liquids have various benefits in catalysts, including fast curing, exceptionally high Tg, excellent clarity in cured epoxy resin systems, increased hydrophobicity of fixed systems, and compatibility with a continuous process.
Moreover, ionic liquids are suited for use as phase transfer catalysts for various chemical reactions. Advantages of phase transfer catalysts in reactions are fewer side reactions, faster reactions, increased yields, mild conditions and raw material usage savings.
Ionic liquid market share is mainly spread into these five regions- North America, Europe, South America, Asia-Pacific and Middle East & Africa.
Asia-Pacific is expected to dominate the market of ionic liquid
Asia-Pacific is the largest and fastest-growing market for ionic liquids. The growing consumption of electronic goods in the region and increasing manufacturing company preference driving the ionic liquid requirements in Asia-Pacific. Ionic liquids are utilized in various industrial applications such as lubricants, electrolytes, liquid crystals, supported ionic liquid membranes, plasticizers, and more. The Asian region is considered an industrial hub with the presence of these industries. Countries like China, India, Japan, Indonesia, and Vietnam are expected to contribute to ionic liquids' demand.
Moreover, a shift in adopting environment-friendly and green chemicals and technology owing to their chemically safe nature and low toxicity content is likely to drive market share over the forecasted period.
The ionic liquid is being extensively used in sealants and electric battery applications. The rapid increase in renewable energy storage in the Asia-Pacific and increased consumption of electronic goods proliferate the global ionic liquid market growth.
The ionic liquid market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include BASF SE, KOEI CHEMICAL CO., LTD., TCI America, SOLVIONIC, Solvay, Ionic Liquid Chemicals LLC, HIDEN ISOCHEMA LTD, Nano TechLabs, Inc., Strem Chemicals, Inc., Solvent Innovation GmbH among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the ionic liquid market globally.
Overview: BASF SE is a German multinational chemical company, headquartered in Ludwigshafen, Germany. It is the largest chemical producer in the world. It comprises subsidiaries and joint ventures in more than 80 countries. Also, the company operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas and Africa.
Product Portfolio: Basionics™ LQ 01 is a product of BASF SE, an ionic liquid with low viscosity and excellent thermal and mechanical stability. It is used as an additive for molding compounds and foams, for example in antistatic finishing of safety shoes.
The global ionic liquid market report would provide an access to an approx. 61 market data table, 55 figures and 240 pages.
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