Global Ionic Liquid Market is valued at USD 42.2 Million in 2021 and is expected to reach USD 77.62 Million by 2028 with a CAGR of 9.1% over the forecast period.
Global Ionic Liquid Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Its increasing demand in the pharmaceutical industry, rising use of ionic liquids in bio-refineries, and growing use in electronics applications are some of the major factors driving the growth of the Global Ionic Liquid Market.
Ionic liquids are a liquid form of a substance which produces a reaction of acid when it reacts with base. These substances are also known as salts. In short, the definition of ionic liquids can be states as liquid state of salts. These salts have melting point of 100 degree Celsius. Ionic liquids contain only ions. These liquids have vital physical properties. One of the most useful physical properties of ionic liquids is they are thermally stable i.e. that means their physical and chemical properties don’t change easily. Some other properties of ionic liquids are that these liquids are volatile, non flammable and stable in air and water. Hence, these liquids are also called green liquids. The invention of green liquids was done by Paul Walden in 1914.
The Covid-19 pandemic has shown a significant impact on the growth of global ionic liquid market. During Covid-19 pandemic, most of the manufacturing plants are closed or stopped their activities because of lockdown conditions and restriction on transportation. Also, due to the social distancing norms, there is a decline in demand from various industries, such as automobile, semiconductors and consumer electronics, which affected the ionic liquid market. However, Covid-19 generated a huge demand in pharmaceutical market for medicines drugs etc. The growth in pharmaceutical industry subsequently raises the demand of ionic liquid market revenue as ionic liquid is an important component in pharmaceutical production.
The global ionic liquid market is segmented on the basis of product, application and region & country level. Based on application type, the ionic liquid market is divided into phosphonium, imidazolium, ammonium, pyridinium, pyrrolidinium and others (sulfonium, etc.). Based on application, the ionic liquid market is classified into by process & operating fluids, solvents & catalysts, batteries & electrochemistry, plastics and bio-refineries.
The regions covered in this global ionic liquid market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of ionic liquid is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Some of the key players for the global ionic liquid market are
On January 6th, 2022; i2O Therapeutics reported a cooperation and choice concurrence with Janssen Biotech, Inc., for Janssen Research and Development to assess the utilization of ionic fluid innovation for the oral conveyance of macromolecules. This collaboration was worked with by Johnson and Johnson Innovation. This research collaboration highlights i2O's main goal to apply its Ionic Liquid stage towards the oral conveyance of different payloads that can empower the more adoption of much-required treatments for patients.
On December 21st, 2021; Chevron started an alkylation unit at its Salt Lake City refinery that makes use of ionic liquid catalyst over conventional hydrofluoric or sulfuric acid. Alkylation react isobutene with olefins like butane and propylene to generate octane and other fuels. The Salt Lake City unit, the primary commercial ionic liquid–based alkylation unit to be installed in the United States, has a capability of about 5,000 barrels of alkylate per day.
On July 21st, 2021; Ionic fluids have been displayed to stabilize medications by avoiding protein misfolding, in another review from Imperial College London. In the review the group utilized ionic liquids, a sort of salt that exists in liquid structure, to settle high concentrations of the immunizer immunoglobin G4 (IgG4) - a protein which has clinical applications. Their outcomes showed that the ionic liquid formulation held the IgG4 set up and prevented the protein misfolding, which makes medications ruin and is accepted to be the reason for a range of neurodegenerative diseases.
One of the major factors driving the growth of global ionic liquid market is its increasing adoption in pharmaceutical industry. Ionic liquids (ILs) have shown amazing capability of utilization in different industries like pharmaceutics. Ionic liquids are exceptionally tunable and can be readily improved to interface with a variety of pharmaceutical ingredients. Proper use of ILs in the pharmaceutical business can be a great choice to defeat the functional/useful difficulties related with the utilization of conventional natural solvents like poor drug solubility, unacceptable stability and systemic toxicity. The ionic liquids are used in different processes like drug crystallization, for the extraction of medications from natural products, in pharmaceutical separation, to deliver drugs, to detect drugs, and even as active pharmaceutical ingredients (APIs). Ionic liquids have additionally been considered as an options to organic solvents in the pharmaceutical industry. Therefore, growth in the pharmaceutical industry drives the growth in global ionic liquid market. For instance; according to Indian Pharmaceutical Industry (IBEF) organization, there has been an 18 % growth in the pharmaceutical industry.
In addition, the rising use of ionic liquids in bio-refineries is also supplementing the market growth. Ionic liquids play a significant role in the biomass conversion process. Ionic liquids are used in the pre-treatment of biomass so that they can be converted to bio-energies. Therefore, increasing demand for bio-fuels has lead to a growth in bio-refinery industries which subsequently caused ballooning of ionic liquid market. For example; according to the Industrial Association White Biotechnology, there are around 400 bio-refineries present in the world.
Furthermore, its growing use in electronics application also drives the global ionic liquid market. Ionic liquids when used for gravimetric sensor manufacturing as electrolytes, increases the robustness of these sensors. The very low instability and great electrochemical security of numerous ionic liquids settle on them an amazing decision for use as electrolytes in energy storage devices. For electrochemical applications, strict purification is suggested. Great electrochemical secure qualities are seen in devices using ionic liquid electrolytes. The capacity to work at extreme temperatures is a special component of ionic fluid electrolytes, making them promising candidates for use in electric vehicles and numerous different applications. However, high cost of ionic liquids may hamper the global ionic liquid market growth. In spite of that, increasing usage of ionic liquids for various applications can provide various opportunities for the further growth of the global ionic liquid market.
Asia Pacific is expected to witness the fastest growth in the global ionic liquids market over the forecast period due to the growing pharmaceutical industry and presence of key players in this region. For example; according to International Society of Pharmaceutical Engineering; Asia Pacific is the second largest region in pharmaceutical market. Also, according to World Atlas out of the top ten leading pharmaceutical market countries four are present in the Asia Pacific region.
North America is projected to capture the largest revenue share in the global ionic liquids market due to presence of bio-refineries, high investment and presence of key players. For instance; according to Office of Energy Efficiency and Renewable Energy, there are 400 bio-refineries present in the world 209 are situated in United States of America. This makes United State of America the largest bio-fuel producing country according to NS Energy. United States of America contributes to around 46 % of the worldwide bio-fuel production and 54 % of the worldwide bio-gasoline production. As ionic liquids for preprocessing the raw materials in a bio-refinery, is an environmental friendly way of pre-treating and with increasing demands of clean and green processes the presence of bio-refineries in North America has lead to growth of ionic liquid market.
Middle East and Africa
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 42.2 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 77.62 Million|
|Tables, Charts & Figures:||175|
|Ionic Liquid Manufacturers||BASF SE, Evonik Industries AG, Merck KGaA, Ionic Liquids Technologies, The Chemours Company, Proionic, Solvionic SA, CoorsTek Specialty Chemicals, Jinkai Chemical Co., Ltd., Reinste Nanoventure, Tatva Chintan Pharma Chem Pvt. Ltd., Strem Chemicals Inc., others|
|Segments Covered||By Product, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|