The global ionic liquids market size is predicted to cross 50 kilo tons by end of the forecasted period growing at CAGR of more than 22%. Features like low viscosity, high thermal stability, high conductivity and minimal vapour pressure of ionic liquids have propelled the demand & growth of global ionic liquids market.
An ion or cat ion choice in the synthesis of ionic liquids greatly affects their physical features like viscosity, conduction, density and polarity. Technological breakthroughs in the product development for niche applications in aerospace industry and pharmaceuticals sector is predicted to offer future growth avenues for the global ionic liquids market. Based on the product, the global ionic liquids market is bifurcated into piperidinium, ammonium, pyridinium, imidazolium, sulphonium, phosphonium and morpholinium.
Based on the application, the global ionic liquids market is divided into plastics, solvents & catalysts, food, bio refineries, process & operating fluids and batteries & electronics. Solvents & catalysts section led the global ionic liquids market in 2014 as they could act both as solvent as well as co catalyst. These solvents & catalysts can react chemically with precursor of catalyst and form active catalyst complex.
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Food applications section is predicted to grow rapidly during the forecasted period. Consumer choice towards processed foods due to busy lifestyle and rise in purchasing power of consumers are the factors predicted to stimulate the growth & demand for ionic liquids for the section.
Batteries & electronics section is predicted to experience normal gains during the forecasted period. Ionic liquids are used as electrolytic tool in the batteries and technological innovations are made in the batteries & electronics for including these ionic liquids in the batteries & electronics. Depending upon the geographical locations, the global ionic liquids market is bifurcated into North American subcontinent, APAC zone, European continent and rest of the world.
The North American continent dominated the global ionic liquids market in 2014. USA contributed maximum market share during this year in terms of revenue. Strict government rules over the use of organic solvents in end use sectors like oil & gas sector, chemical sector and pharmaceuticals sector due to health & environmental concerns are predicted to promote the demand and growth of the ionic liquids industry in USA. This in turn has also resulted in demand & growth of the ionic liquids market of North America.
The ionic liquids market of APAC zone is also predicted to grow rapidly during the forecasted period. The ionic liquids market in China contributed maximum market share in 2014. Change in focus towards acceptance of green solvents due to ecological concerns from organic equivalents is predicted to stimulate the demand of ionic liquids in China. It has many large-scale industries and is the key production hub of APAC zone. All this has contributed to grow of ionic liquids industry in APAC zone.
Key industry players involved in the ionic liquids business and contributing towards the growth of the global ionic liquids market are as follows:• BASF SE• Solvionic SA• Solaronix• Wuhu Huaren Science and technology company limited• IOLITEC GmbH• Strem Chemicals• TCI• Coorstek Specialty Chemicals• Scionix• Reinste Nanoventure• Evonik Industries AG• Sooyangchemtec Company Limited• Santa Cruz Biotechnology• Merck KGAA• Proionic• Strem Chemicals Incorporation• The Chemours Company• Ionic Liquids Technologies GmbH• Jinkai Chemical Company Limited• Tatva Chintan Pharma Chem Private Limited• Solvay S.A.
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