The Global Ionic Liquid Market Size accounted for USD 1,604 Million in 2021 and is estimated to achieve a market size of USD 7,117 Million by 2030 growing at a CAGR of 18.2% from 2022 to 2030. Growing environmental emphasis on green chemistry is expected to drive demand for the product as an organic solvent, propelling the ionic liquids market growth. Furthermore, rising demand from extractions and separations applications is predicted to fuel the ionic liquids market value over the forecast period.
Ionic Liquid Market Report Key Highlights
Ionic liquids (ILs) are salts made up of cations and anions that are usually liquids at or below 100 degrees Celsius. Unlike molecular liquids, ionic liquids have distinct properties that make them promising solvents for a variety of industrial applications. High polarity, negligible volatility, high thermal stability, high ionic conductivity, low melting point, and structural designability are some of the physicochemical properties. Furthermore, ionic liquids are regarded as promising solvents with distinct properties in organic synthesis, catalysis, electrochemistry, metal separation, gas separation, biomass processing, pharmaceuticals, tribology, and energy storage devices such as batteries, supercapacitors, and fuel cells, among others.
Global Ionic Liquid Market Dynamics
Ionic Liquid Market Report Coverage
|Market||Ionic Liquid Market|
|Ionic Liquid Market Size 2021||USD 1,604 Million|
|Ionic Liquid Market Forecast 2030||USD 7,117 Million|
|Ionic Liquid Market CAGR During 2022 - 2030||18.2%|
|Ionic Liquid Market Analysis Period||2018 - 2030|
|Ionic Liquid Market Base Year||2021|
|Ionic Liquid Market Forecast Data||2022 - 2030|
|Segments Covered||By Application, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Iolitec Ionic Liquids Technologies GmbH, TCI Chemicals (India) Pvt. Ltd., Tatva Chintan Pharma Chem Limited, Evonik Industries AG, BASF SE, Solvay, The Merck Group, and The Chemours Company.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Ionic Liquids For Drug Delivery Have Gained Significant Attention In The Global Market Propelling Overall Growth
In drug discovery and development, it is estimated that approximately 40% of commercialized drugs and 90% of under-study drugs have inadequate pharmaceutical properties, severely limiting therapeutic efficacy. As a result, there is a growing need to identify the strategies responsible for improving the delivery of such drugs. Ionic liquids are a novel class of liquids composed of organic salts of particular interest, either alone or in combination with drug delivery systems. Furthermore, there is a growing interest in ionic liquids for drug solubility, formulation, and drug delivery, with a focus on nanotechnology. Such factors drive global ionic liquid market trend.
Big Calls For Ionic Liquid In Pharmaceutical Industry Have Gained Huge Prominence In The Global Market
According to a report published in the Tropical Journal of Pharmaceutical Research, the pharmaceutical industry is unquestionably facing significant challenges. Co-crystals, amorphous forms, and polymer-embedded pharmaceuticals are part of the solution to overcome such challenges, and the introduction of ionic liquids into the pharmaceutical world provides even more design options. Furthermore, ILs address critical pharmaceutical issues, such as low solubility and thus bioavailability of pharmaceutical compounds, as well as the presence of polymorphs, which have a negative impact on the efficacy of important commercially available drugs. The development of strategies to use ILs as carriers of pharmaceutically active compounds is a very promising and broad field. Furthermore, the synthesis of liquid salts through the careful combination of cations and anions with various pharmaceutical roles provides solutions to today's pharmaceutical industrial challenges.
Ionic Liquid Utilization For The Treatment Of Cancer And Tuberculosis Has Gained Significant Attention That Fuels The Growth Of Overall Market
There is currently an ongoing study that focuses on studies in the biological activity of ionic liquids and their application in cancer and tuberculosis treatment, both of which are newly emerging and highly important areas. Because some ionic liquids exhibit a synergistic effect with properties that can change and alter the toxicity of ionic liquids, it is reasonable to believe that ionic liquids can be used as anti-cancer, anti-viral, and other therapeutic agents. Ionic liquids also improve solvents, co-solvents, and materials in a variety of applications, including biological applications. In comparison to the extensive use of ionic liquids in medical formulations for the treatment of cancer, there have been reports available for the use of ionic liquids in the treatment of tuberculosis, with a primary focus on ionic liquids utilization as a catalyst for the synthesis of anti-tuberculosis agents, solvents for anti-tuberculosis antibiotics, and acts as a solvent and catalyst in syntax. Such factors contribute to the global ionic liquid market's expansion.
According to a report released by the PubAg U.S. DEPARTMENT OF AGRICULTURE, ionic liquid salts (ILs) are currently one of the key trends in modern chemistry. Furthermore, ILs are thought to be advantageous replacements for traditional organic solvents, and thus much more environmentally friendly. Furthermore, ILs can be easily produced to tailor physicochemical properties to specific applications, as is currently happening with several separation processes. This has a positive impact on the overall growth of the ionic liquids market.
Ionic Liquid Market Segmentation
The worldwide ionic liquid market segmentation is based on the application, and geography.
Ionic Liquid Market By Application
According to the ionic liquid industry analysis, the solvents and catalysts segment held the largest share of the market in 2021 and will continue to do so throughout the forecast period. According to a Royal Society of Chemistry report, basic ionic liquids have been shown to catalyze a wide range of organic reactions, particularly chemical reactions. Furthermore, due to their unique structures and properties, ionic liquids show promising results for capturing and activating CO2, making them ideal alternatives to volatile organic solvents or catalysts for CO2 transformation. Such factors have a positive impact on segmental growth, which in turn contributes to market growth overall.
Ionic Liquid Market Regional Outlook
The Middle East & Africa
North America Dominates, Asia-Pacific Registers Stupendous Growth For Ionic Liquids Market
North America holds the lion's share of the ionic liquids market in 2020 and will continue to do so throughout the forecast period. Among North American provinces, the United States has seen a surge in investment in automotive technologies, which has resulted in the high utilization of ionic liquids. According to an ACS Publications report, ILs have been identified as a candidate additive with superior friction and wear reduction capabilities in the automotive industry. Furthermore, the presence of major players in North American provinces fuels the growth of the overall ionic liquid market.
According to the ionic liquids market forecast, Asia-Pacific is expected to have the fastest-growing CAGR in the market in the coming years. China is the largest and fastest-growing market for ionic liquids in Asia-Pacific. The rapid adoption of new technologies related to ionic liquids is driving the growth of ionic liquids in Asia-Pacific. Furthermore, China is a prominent country in the Asia-Pacific region, with large chemical manufacturers contributing to the growth of the regional market, ultimately fueling the overall market growth.
Ionic Liquid Market Players
Some of the top ionic liquid market companies offered in the professional report include Iolitec Ionic Liquids Technologies GmbH, TCI Chemicals (India) Pvt. Ltd., Tatva Chintan Pharma Chem Limited, Evonik Industries AG, BASF SE, Solvay, The Merck Group, and The Chemours Company.
The estimated value of global ionic liquid market in 2021 was accounted to be USD 1,604 Million.
The projected CAGR ionic liquid market during the analysis period of 2022 to 2030 is 18.2%.
The prominent players of the global ionic liquid market are Iolitec Ionic Liquids Technologies GmbH, TCI Chemicals (India) Pvt. Ltd., Tatva Chintan Pharma Chem Limited, Evonik Industries AG, BASF SE, Solvay, The Merck Group, and The Chemours Company.
North America held the dominating ionic liquid during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for ionic liquid during the analysis period of 2022 to 2030.
Growing environmental emphasis on green chemistry and rising demand from the extractions and separations application drives the growth of global ionic liquid market.
Based on application, solvents & catalysts segment is expected to hold the maximum share of the ionic liquid market.