The global Ionic Liquids Market is set to witness a higher CAGR in the forecast period. Ionic liquids are salts comprising cations such as pyridinium, imidazolium, and quartenary phosphonium. Anions such as triflate, halogen, tetrafluoroborate, and hexafluorophosphate also find existence in the liquid state reasonably at low temperatures. Features such as non-flammability, non-combustibility, no vapor pressure, and high ionic conductivity exist in ionic liquids.
As a solvent, only the ions are solvated under which the reaction moves ahead under a different phase when compared to using ordinary organic solvents and water. Therefore, applications for several organic reactions are explored using R&D techniques. Ionic liquids market is driven by stringent regulations by government to curb toxicity by lessening the impact of volatile organic compounds. The liquids are highly used for biomass conversion on a commercial scale.
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By reaction, ionic liquids industry is segmented as diels-alder reaction, heck reaction, aldol condensation, Suzuki-miyaura coupling reaction, wittig reaction, stille reaction and friedel-crafts reaction. Application segment for ionic liquid market include solvent, catalysts, bio-refineries, extractions & separations and energy storage. Geographical segmentation for ionic liquids market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa.
North America is expected to account for a moderate market share in the forecast period owing to presence of low number of chemical manufacturers and stringent government norms and regulations. Asia-Pacific regions are expected to witness a substantial market share in the forecast period due to presence of numerous regional players in the region. The key players in the ionic liquids industry include BASF SE, Merck KgaA, Cytec Solvay Group, Strem Chemicals, Ionic Liquids Technologies GmbH, Reinste Nano venture Solvionic SA, Tatva Chintan Phara Chem Pvt Ltd and Tokyo Chemical Industry Co Ltd.
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Global Ionic Liquids Application Outlook (Revenue, USD Million, 2014 – 2025)
• Solvents & Catalysts
• Extractions & Separations
• Energy storage
Global Ionic Liquids Region Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa