Ionic Liquid Market Top Key Industry Players: BASF, TCI - Tokyo Chemical Industry, Solvionic, Merck, Strem Chemicals, proionic GmbH, Coorstek Specialty Chemicals
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Rising trend of adopting green solvent due to increasing toxic concerns from their organic substitutes should drive ionic liquid market during the forecasted timeframe. Stringent environmental regulations, policies and pressure set by agencies should drive global market.
Ionic liquids are extensively used in bio catalysis and bio transformations owing to its negligible vapor pressure, thermal stability and controllable viscosity with water or organic solvents. IL’s are used as solvents, co-solvents and reagents propelling product demand.
Ionic liquids have been subject of interest recently due to its low volatility and ability to dissolve a wide variety of compounds, making it useful as green solvents for energy storage application and industrial process. IL’s perform as electrolytes in products such as dye-sensitized solar cells, actuators, thermos-cells and double layer capacitors conducting electricity with elongated reaction times, pivoting global ionic liquid market.
Ionic liquid is also used to solve critical pharmaceutical problems, performing as carriers of pharmaceutical active compounds and salts through the combination of anions and cations. Pharmaceutical industry is expected to account for generating over USD 1.2 trillion by 2022 along with which IL Market is expected to grow.
Ionic liquid price trends have been high, making it uneconomical for industries to use. Companies should concentrate on technological innovation and product development for ionic liquid to drive their production cost down for global industry growth.
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U.S. ionic liquid market size was the dominant regional industry and accounted for 35.9% of the total volume in 2014. A stringent environmental norm structure by the EPA to curb VOC content is likely to favor demand.
China ionic liquid market is likely to attain highest gains at 24.2% CAGR, up to 2022 with a target to reduce pollution owing to presence of large & small scale manufacturing facilities in the region.
Pharmaceutical application in Germany generated revenues worth USD 7.5 million in 2014 and is likely to achieve highest growth rates up to 2022.
Japan ionic liquid industry revenue for pharmaceutical applications should gain at over 16.5% for the next seven years.
Global ionic liquid market is fragmented as large number of companies cater ionic liquid to different end-use industry. Some key players include TCI, BASF, IOLITEC GmbH and Solvionic. Other major manufacturers include Wuhu Huaren, Coorstek Specialty Chemicals and Santa Cruz Biotechnology.
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