Ionic Liquids Market Size To Reach $93.0 Million By 2030

Ionic Liquids Market Growth & Trends

The global ionic liquids market size is expected to reach USD 93.0 million by 2030, expanding at a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing demand for the solvent & catalysis application which requires these liquids due to properties such as low vapor pressure and VOC content has boosted the growth of this industry. The extraction and separation application is mainly influenced by biodegradability which is dependent on the presence of cations has led to the replacement of industrial solvents by ionic liquids, which in turn is expected to drive the industry over the next nine years.

There is a rise in the demand for the product, as these solvents comply with the environmental norms laid down by Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) which in turn is positively impacting the industry. Germany, United Kingdom and the rest of Europe are becoming increasingly attractive markets owing to increasing focus by governments on compliance with environmental norms in the region. The U.S. is expected to show high growth in the solvent & catalysis application on account of investments by big players in research and development initiatives.

The product is widely used in the bio-refinery and energy storage applications owing to their ability to provide water miscibility and viscosity control. The demand for the product is expected to witness rapid growth on account of bio-refinery and energy storage funding in the emerging countries such as China, India, and Japan.

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Ionic Liquids Market Report Highlights

• The solvent and catalyst segment accounted for a revenue share of 38.0% in 2023. The use of traditional organic solvents has always presented the risk of environmental contamination and exposure

• The energy storage segment is expected to experience the fastest CAGR of 9.2% from 2024 to 2030.

• North America dominated the global ionic liquids market and accounted for a revenue share of 32.3 % in 2023.

• The U.S. ionic liquids market dominated the regional industry with a revenue share of 81.6% in 2023.

Ionic Liquids Market Segmentation

Grand View Research has segmented the global Ionic liquids Market on the basis of application and region:

Ionic Liquids Application Outlook (Revenue, USD Million, 2018 - 2030)

• Solvents & Catalysts

• Extractions & Separations

• Bio-Refineries

• Energy Storage

• Others

Ionic Liquids Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

• Asia Pacific

  • China

  • India

  • Japan

• Latin America

  • Brazil

• Middle East and Africa (MEA)

List of Key Players of Ionic Liquids Market

• BASF

• Merck KGaA,

• Solvay

• proionic (Arkema)

• Iolitec Ionic Liquids Technologies GmbH

• Reinste Nano Ventures

• SOLVIONIC

• Tokyo Chemical Industry (India) Pvt. Ltd.

• Strem Chemicals (Ascensus)

• Tatva Chintan Pharma Chem Limited

• Chevron Corporation