Ionic liquids are basically salt like minerals that are liquid having temperature below 100 °C. As their melting points is generally lower than 100 °C, they are also termed as room-temperature ionic liquids. Ionic liquids were earlier introduced as alternative green reaction media owing to their unique physical and chemical properties such as thermal stability, electrical conductivity, low vapour pressure, resistant to oxidation etc. However, nowadays they are showing significant role in controlling the reactions as catalysts. Depending upon the functional group attached, the ionic liquid may behave as an organocatalyst, acidic or basic. Ionic liquids are utilized in various applications and are powerful solvents and electrically conducting fluids.
Ionic liquids are non-flammable and are thermally stable at temperatures higher than the conventional molecular solvents. Ionic liquids have array of potential applications including lubricants for offshore wind turbines, thermal fluids for storage and heat transport, hydraulic fluids etc.
Global Ionic Liquids Market: Segmentation
The global Ionic Liquids market can be segmented on the basis of product type and application
Based on the product type, the global ionic liquids market can be segmented into
- Others (sulfonium, etc.)
Based on the application, the global ionic liquids market can be segmented into
- Process and Operating Fluids
- Batteries & Electrochemistry
Global Ionic Liquids Market: Dynamics
Stringent environmental regulations by the governmental agencies such as Environmental Protection Agency (EPA) and European Union to control toxicity by minimizing the volatile organic compounds (VOCs) content in the environment is expected to positively impact the ionic liquids market in the green solvents. Further, utilization of ionic liquids for the biomass conversion into biofuel and other chemical products particularly fractionation of wood into major components such as hemicellulose, lignin and cellulose etc. is now one of the major focus of ionic liquids research across the globe. Thus, in turn supporting the demand for the ionic liquids and is expected to drive the global ionic liquids market over the forecast period
Manufacturing of high quality and low cost ionic liquids is found to be one of the major challenged in the global ionic liquids market over the forecast period
One of the key trends identified in the global ionic liquids market include, production of ionic liquids from renewable resources. Various U.S based research institutes are focusing on the production of bioethanol. Ionic liquids can be synthesized from bioethanol, which consists of dihydrogen phosphate anions and tertiary amine cations. Further, utilization of ionic liquids as a replacement for solvents owing to their ability to dissolve various chemicals. These liquids have low vapour pressures and low volatility.
Global Ionic Liquids Market: Regional Outlook
On the basis of region, the global ionic liquids market is expected to be dominated by Asia-Pacific region, owing to the rising demand from developing countries such as China, India etc. for the solvents and catalysts application. Further, large number of chemical manufacturers are present in the China and India where ionic liquids can be utilized as solvents and catalysts in various applications. North America and Europe are expected to show moderate growth in the market over the next decade, as there are very small number of chemical manufacturers are present in these region. Latin America and MEA are expected to hold small share in the market over the near future.
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Global Ionic Liquids Market: Market Participants
Examples of some of the key market participants identified across the value chain of the global Ionic Liquids market include BASF SE, Merck KGaA, Evonik Industries, Cytec Solvay Group, Strem Chemicals, Inc., SOLVIONIC, Iolitec Ionic Liquids Technologies GmbH, Proionic, Jinxi Jinkai Chemical Co., Ltd., Reinste Nano Ventures Pvt. Ltd., and others.
Key manufacturers of ionic liquids are found to be involved in the research & development activities in order to introduce the new and advanced products for the wide range of applications. There are various institutes based in China such as China Ionic Liquids Laboratories, PETRONAS Ionic Liquids Centre are involved in the research on ionic liquids in order to make them suitable for various applications