Ionic Liquids Market Size By Application (Catalysis/Synthesis, Food, Paper & Pulp, Electronics, Biotechnology, Automotive, Pharmaceuticals), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2022
Published Date: Mar 2016 | Report ID: GMI121 | Authors: Kunal Ahuja, Shreya Deb
Ionic Liquids Market size exceeded USD 530 million in 2014 and may expect consumption of over 60 kilo tons by 2022.
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Rising consumer consciousness on pollution & increasing inclination to purchase high performance and safe electronic gadgets should stimulate ionic liquids market share. Its widespread use in applications such as solvents, biorefineries, catalysts, extractions, and separations are expected to boost market share. Stringent regulatory norms to protect environment from toxic chemical hazards and changing outlook on safety measures has led to increased spending by industries to improve product properties and characteristics. Increased investment by companies on improving the product purity, grade, and quality is likely to augment the demand for ionic liquid over the forecast period.
Shift in consumer perception towards adopting environment friendly and green solvents owing to their chemically safe nature & low toxicity content is likely to drive market share over the forecasted period. Its characteristics such as high thermal stability & conductivity, low viscosity, inflammable nature, high liquid state retention, and negligible vapor pressure makes it compatible for myriad applications. In U.S., revenue from chemical manufacturing was valued at over USD 1.75 trillion which shows ample growth opportunities. They offer greater feasibility & flexibility in properties owing to diverse combinations of cations & anions which makes the compatible with various catalyst and solvents.
Traditional inorganic bulky ionic chemicals such as N-alkylpyridinium, N-dialkylpyrazolium, and N-alkyimidazolium have certain disadvantages such as moderate toxicity levels owing to possible release into soil or water courses, which may become persistent pollutants and possess environmental risks. High cost of manufacturing makes their use limited for industrial applications such as biocatalyst, electroplating, and deposition. However, manufactures are focusing on overcoming these limitations by investing in novel & alternative manufacturing methods to produce more chemically refined & pure products with low toxicity levels further enhancing market share.
|Base Year:||2014||Market Size in 2014:||530 Million (USD)|
|Historical Data for:||2012 to 2014||Forecast Period:||2015 to 2022|
|Forecast Period 2015 to 2022 CAGR:||17.7%||2022 Value Projection:||2.2 Billion (USD)|
|Pages:||120||Tables, Charts & Figures:||107|
|Geographies covered (4):||U.S., Germany, China, Japan|
|Segments covered:||Application and Region|
|Companies covered (12):||BASF SE, Tokyo Chemical Industry, Solvionic, IOLITECH GmbH, Scionix, Wuhu Huaren Science and technology Co. Ltd., Merck, Coorstek Specialty Chemicals, Santa Cruz Biotechnology, Proionic, Strem Chemicals, Solaronix|
|Pitfalls & Challenges:||
Ionic liquids market revenue from food applications was valued at over USD 70 million in 2014. Changing consumer perception towards processed foods owing to hectic lifestyles and increase in per capita income may drive market share. Rising consumption of quality processed foods due to awareness campaigns and stringent government regulations is increasing consumer awareness on quality packaging and manufacturing standards. They are widely utilized in biomass processing and in pre-treatment of cellulose. They are also utilized as a substitute for organic solvents to avoid contamination issues in end products which may stimulate market share.
Electronics applications was valued at over USD 65 million in 2014. Increasing demand for high performance electronics owing to rising demand for durability and efficacy may trigger market share. They are widely utilized in the manufacturing of chemical sensors and biosensors due to its compatibility with various materials such as polyurethane, polyamide, and polypropylene. Their characteristics such as high catalytic activity, recyclable nature, high compatibility with diphasic systems, solubility rate with gases such as oxygen, benzene, ethylene, and ethane make it highly compatible with quick responding sensors is likely to further fuel market demand.
Ionic liquids market demand from paper & pulp applications may register gains at above 23% by 2022. Changing consumer outlook towards adopting wallpapers instead of paint, rise in construction and renovation industry is likely to foster market share. They are widely utilized in deacidification of paper and reducing antifungal activity which aids in manufacturing of high-quality wallpapers. Speciality paper in construction industry is utilized in manufacturing wallpapers to decorate the interiors of commercial and residential properties. They are compatible with manufacturing various types of wallpaper such as liner, printed, vinyl, flock, and mylar which may promote market share.
U.S. ionic liquids market size may register significant growth over 23% up to 2022. Rising consumer demand for high quality automobiles with minimalistic aesthetic features and high fuel efficiency may boost product demand. Stringent government regulations on safety & fuel efficiency to curb environmental degradation and increase the standard of safety may foster market share. Increasing inclination to purchase smart electrical & hybrid vehicles may promote regional product demand.
Germany market may surpass USD 650 million by 2022. Rising geriatric population and increasing awareness on healthcare issues may boost market share. Stringent government regulations on healthcare safety and rising tendency for high quality medicines & drug delivery systems are accelerate market share. These are widely used in pharmaceutical industries in manufacturing vaccine vials & drug delivery systems owing to their nontoxic nature and high resonance with biocompatible materials. Increasing prevalence of autoimmune diseases and changing consumer outlook on overall wellbeing may further enhance regional market growth.
Japan ionic liquids industry size valued at over USD 50 million in 2014 and may exceed in the foreseeable timeframe. Increasing urbanization and rapid increase in chemical sector may trigger market growth. Rising tendency for low toxicity and chemically stable products owing to rise in stringent regulations and changing consumer perceptions towards safety in chemical, automobile, and biotechnology applications may foster market share.
Competitive Market Share
Market share is consolidated with major industry players such as BASF, CoorsTek Speciality Chemicals, Cytec Solvay Group, Merck KGaA, Proionic, Strem Chemicals, and Tokyo Chemical Industry. Manufacturers are engaged in developing new products & manufacturing techniques under stringent regulations by investing in new technology and widening geographical presence.
Ionic chemicals are salts in liquid state and have high boiling temperatures. They possess different properties such as low vapor pressure, high thermal stability, miscibility with water, high electrical conductivity, and high electro-elasticity. Manufacturers are trying to develop new manufacturing techniques to reduce potential side effects and produce end products with high chemical purity which may augment market growth.
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