Global ionic liquids market to grow at 23% CAGR over 2018 – 2024: BASF, Strem Chemicals, Scionix Holland B.V and IoLiTec-Ionic Liquids Technologies GmbH

Global ionic liquids Market is projected to surpass $2.5 bn by 2024.
Key industry participants include BASF, Strem Chemicals, Solvionic, Scionix Holland B.V, Wuhu Huaren Science and Technology Company Limited, IoLiTec-Ionic Liquids Technologies GmbH, and CoorsTek Specialty Chemicals.

Outstanding features of ionic liquids such as low vapor pressure, non-flammability, low combustibility, and high thermal stability has boosted its demand across various sectors. Chemical reactions like Diel-Alder reactions and Friedel-Craft reactions are carried out by using ionic liquids as solvents.

Graphical Research presents a report on “Ionic Liquids Market analysis based on Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024”.

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Ionic liquids industry size estimated at over 15 kilotons in 2017, is predicted to surpass 65 kilotons by 2024, growing at a CAGR rate of around 23% over the period of 2018-2024. Growing preference for green solvents due to environmental impacts and toxicity issues is predicted to fuel the growth of the industry over the next eight years. Ionic liquids such as ammonium, pyrrolidinium, sulphonium, and imidazolium are preferred in various industrial applications due to their inherent features like low combustibility, low vapor pressure, non-polarity, and thermal stability.

However, toxicity concerns due to the release of a few ionic liquids like tetraalkylammonium and N-alkylpyridinium polluting water or soil and causing ecological damage can hinder the market growth over the forecast timeframe. Ionic liquids market is segmented in terms of applications and regions.

U.S. ionic liquids market size worth USD 320 million in 2017 led the North American industry and is predicted to witness a substantial growth over the forecast timeline. Strict legislations over the use of organic solvents in chemical, electronics, oil & gas, and pharmaceutical industries as well as rising health & toxicity concerns are few of the factors anticipated to fuel the regional growth.

China ionic liquids market is predicted to grow at over 24% over the period of 2018-2024 due to surging demand for green solvents over its organic counterparts, the latter being a major cause of environmental pollution.

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Segments We Cover:

Ionic Liquids Market, By Application
· Electronics
· Key application trends
· Catalysis/synthesis
· Food
· Paper & pulp
· Biotechnology
· Automotive
· Pharmaceuticals
· Others

Browse key industry insights from this report Global ionic liquids Market in detail along with the table of contents at:
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