Global Ionic Liquids Market: Overview
The liquids that are molten ionic salts with the boiling point greater than 400C and the melting point being less than 100C are known as ionic liquids. They consist of different chemical properties such as thermal stability, liquid crystalline structures, organic solvents, low vapor pressure, high heat capacity, and miscibility with water. Ionic liquids possess the electrical properties such as biphasic systems, high electric conductivity, high electro-elasticity, and others. They are nonflammable too. Owing to their beneficial properties the ionic liquids are used as electrolytes, analytical instruments, solvents, displays, lubricants, and others.
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Global Ionic Liquids Market: Segmentation
The ionic liquids market is segmented globally into its application and region. On the basis of application, the global market is segregated into solvents & catalysts, plastics, bio-refineries, process & operating fluids, batteries & electrochemistry, food, electronics, and others. Region-wise, the global ionic liquids market is diversified into the region such as Asia Pacific, North America, Europe, and Rest of the World.
Global Ionic Liquids Market: Growth Factors
The widely used applications of the ionic liquids are as catalysts and solvents. The application segment of solvents and catalysis held the largest market share in the global market of ionic liquids market. They are also used as precursors for many chemical reactions, thus driving the demand for the ionic liquids. The increasing demand of the extractions and the separation segment is further fuelling the market growth. The increasing environmental awareness regarding the use of the green solvents is likely to fuel the market growth in the coming years. There are many regions where the extraction and separation processes are increasing thus driving the market growth. The ionic liquids are widely used in industries such as electronics, pharmaceuticals, catalysts & solvents, automotive, hence increasing its demand in the global market.
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Global Ionic Liquids Market: Regional Analysis
The region that is dominating the ionic liquids market is the North America. There is a large number of mining companies that are present in the US which is contributing to the market growth. The support from the government also plays a crucial role in the development of the ionic liquids market. A large number of the lead market players are present in the regions such as Canada and the US. The various applications of the ionic liquids supported by the advanced facilities of the production contribute to the market growth. The solvents and catalysis application segment is rapidly growing in the regions such as Canada, Germany, US, Mexico and the UK thus increasing the demand for the ionic liquids market.
Global Ionic Liquids Market: Competitive Players
The major market players in the ionic liquids market include BASF SE, Merck KGaA, The Chemours Company, Solvionic SA, Jinkai Chemical Co., Ltd., Tatva Chintan Pharma Chem Pvt. Ltd., Evonik Industries AG, Ionic Liquids Technologies (IoLiTec) GmbH, Proionic, CoorsTek Specialty Chemicals, Reinste Nanoventure, and Strem Chemicals Inc.
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Global Ionic Liquids Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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