Ionic Liquid Market Analysis, Trends and Future Outlook Report, 2024

The emerging Global Ionic Liquids (ILs) Market size is anticipated to reach over USD 40 Million for the forecasted year 2016 to 2024 with a CAGR around 9.35 %. The major key drivers of ionic liquids markets are driven because of unique properties and their rising demand.

 

Another driving factor is the development of newer ionic liquid applications and commercializing it into the market. The market has been segmented on the basis of applications such as catalyst, solvents, plastics, process and operating fluids, electrochemistry, bio- refineries and batteries.

 

Ionic liquids are special molten salts in the liquid state with high melting point. The properties of ionic liquids are low combustibility, chemically and thermally stable, volatility and good solvating properties. These liquids have the ability to act as solvent and catalyst to speed up performance in industries.

 

Major restraints in ILs are a high cost which has to be recovered by developing new synthetic approaches to manufacturing an environmentally sustainable renewable raw material and less expensive ILs. The inexpensive and available raw materials such as carbohydrates are used in the synthesis of ILs.

Wide industrial applications drive the overall ionic liquids growth. Solvent and catalyst account for maximum revenue share in the global market. The bio refineries, electrochemistry, and batteries industries are expected to have a significant growth.  

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