Ionic Liquids Market Analysis

Ionic Liquids Market Analysis

Ionic liquids market from catalysis/synthesis application surpassed USD 400 million in 2020 and is likely to witness 18.4% gains by 2027. These products find widespread adoption in various chemical reactions such as the condensation of ketones & aldehydes with hydroxylamine, Michael addition of active methylene compounds, aza-Michael addition reaction and the synthesis of pyrroles & quinolines.
 

Significant expansion of the end-use industries such as automotive & consumer products primarily owing to economic growth and increasing population should drive the chemical sector, thereby boosting the demand for catalysts and ionic liquids. Growing efforts in the manufacturing sector to achieve cost-savings, yield improvement, energy efficiency and ensure environmental regulatory compliance should boost the adoption of catalysts as they help reduce the activation energy of chemical reactions.
 

Food application should surpass USD 615 million by 2027 on account of the high effectiveness of ionic liquids in the extraction of carotenoids which finds widespread usage as colorants in the food sector. Ionic liquids serve as suitable alternatives to organic solvents in food processing owing to their ability to reduce waste generation, environment-friendly nature and low toxicity.
 

Growing demand for processed food products, rising disposable income and expansion of supermarkets primarily in emerging economies such as China, India, Indonesia and Brazil should result in significant expansion of the food sector and stimulate the Ionic liquids market share. Growing adoption of carotenoids in dietary supplements, increasing consumer awareness regarding the health benefits of natural colors such as enhanced growth, immunity & eye health should drive carotenoid adoption in food processing and further boost product demand.
 

U.S. ionic liquids market surpassed USD 525 million in 2020 and is projected to register gains of 18.4% by 2027. The country is witnessing increasing investment by manufacturers in new vehicle technologies such as electric vehicles (EV), connected and autonomous technologies which should drive the automotive industry and boost market growth. Ionic liquids are registering increasing adoption as lubricant additives in gear oils owing to their ability to reduce cracking, vibration noises, surface damage, and wear loss.
 

Significant efforts by domestic automotive manufacturers to aggressively retrench & restructure their business models to tackle the adverse effects of declining vehicle sales, recession, trade wars and emission regulations should boost automotive sector growth. Recent research indicates that the adoption of ionic liquids as oil additives increases the energy efficiency of internal combustion engines which represents ample growth opportunities in the wake of the rising trend of growing environmental consciousness & sustainability.