New York, United States , Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Global Ionic Liquids Market Size to grow from USD 2.00 billion in 2021 to USD 7.03 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 16.07% during the forecast period. Growing environmental focus on "green" chemistry is expected to drive demand for the product as an organic solvent and drive the market's expansion for ionic liquids. Furthermore, it is anticipated that during the course of the projected period, demand for extractions and separations applications will grow.
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Browse 29 market data Tables and 58 Figures spread through 210 Pages and in-depth TOC on “Global Ionic Liquids Market Size, Share, and COVID-19 Impact Analysis, By Application (Catalysis/Synthesis, Food, Paper & pulp, Electronics, Biotechnology, Automotive, Pharmaceuticals and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.”
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The Catalysis/Synthesis segment to account for the largest market size during the forecast period.
Based on the application, the Ionic liquids market is categorized into Catalysis/Synthesis, Food, Paper & pulp, Electronics, Biotechnology, Automotive, Pharmaceuticals and Others. The Catalysis/Synthesis segment to account for the largest market size during the forecast period. Throughout the forecast period, the Catalysis/Synthesis segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because Many other chemical processes, including the condensation of ketones and aldehydes with hydroxylamine, the Michael addition of active methylene compounds, the aza-Michael addition reaction, and the production of pyrroles and quinolines, use these products widely. The chemical industry should be driven by significant development in end-use sectors like automotive and consumer goods, which are largely driven by economic expansion and population growth. This will increase demand for catalysts and ionic liquids. Catalyst use should increase as industrial companies increase their efforts to save costs, increase yield, enhance energy efficiency, and maintain compliance with environmental regulations. Catalysts do this by lowering the activation energy of chemical processes.
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Asia-Pacific to hold a higher CAGR during the forecast period.
The Global Ionic Liquids Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. North America is estimated to account for the highest market share in 2022. The demand for Ionic Liquids is being driven by the rising acceptance by the market. The market for Ionic Liquids was dominated by the North America region because Provinces of North America, the United States has witnessed an increase in investment in automotive technology, which has led to the extensive use of ionic liquids. In the automobile sector, ILs have been discovered as a prospective additive with outstanding capabilities for reducing friction and wear, according to a paper from ACS Publications. Major players' presence in North American provinces also contributes to the market growth for ionic liquids as a whole.
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Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Ionic Liquids Market: Solvionic, Shanghai Chengjie, 3M, Tatva Chintan Pharma Chem Pvt. Ltd., Henan Lihua Pharmaceutical Co., Ltd., Rhodia Group, STREM Chemicals, Cytec, BASF, Linde, Lonza, FutureChem Co. Ltd., Mitsubishi Materials Electronic Chemicals Co., Ltd., Koei Chemical Co.Ltd., Reinste Nanoventure, Ionic Liquids Technologies, Merck KGaA, and Dupont.
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