Dublin, Oct. 31, 2023 (GLOBE NEWSWIRE) -- The "Ionic Liquids Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product Type (Ammonium, Imidazolium, Phosphonium, Pyrrolidinium, Pyridinium, Others), By Application, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
The global ionic liquids market is poised for substantial growth during the forecast period due to the increasing preference for sustainable development.
The world generates approximately 1.3 billion tons of waste, equivalent to the weight of 6.5 million blue whales. Ionic liquids, a class of salts that are liquid at low temperatures, are gaining prominence across various industries due to their unique properties and potential applications in solvents, electrolytes, catalysts, lubricants, and coolants. The market is expected to expand as the demand for sustainable solutions continues to rise.
Understanding Ionic Liquids:
Ionic liquids are a category of salts that remain in a liquid state at or below 100 degrees Celsius. Composed of organic cations and organic or inorganic anions, they offer tunable properties and functions. Ionic liquids boast several advantages over conventional organic solvents, including negligible vapor pressure, high thermal stability, a wide liquid-state window, and low flammability. They find applications in separating and extracting various substances, including DNA fragments, proteins, dyes, and polyphenols. Ionic liquids are also making significant contributions to fields such as analytical chemistry, biotechnology, nanotechnology, and materials science.
Key Market Drivers:
- Technological Advancements in Electronics: Technological innovations in the electronics sector have positively impacted the global ionic liquids market. Ionic liquids are being used in the development of high-performance batteries, conductive materials like graphene, and advanced sensors due to their unique properties such as high thermal stability and low flammability.
- Rapid Growth of the Energy Sector: The energy sector's expansion is driving demand for ionic liquids, especially in energy storage and conversion devices. Governments worldwide are investing in research and development, with a focus on renewable energy sources, electric vehicles, and advanced energy storage solutions.
- Favorable Government Policies: Government policies and regulations play a crucial role in promoting the growth of the ionic liquids market. Favorable policies, tax incentives, and subsidies for businesses that use or produce ionic liquids are driving market growth. Additionally, regulatory support for environmentally friendly and safe alternatives like ionic liquids is boosting their adoption.
Notable Developments:
- The United States Department of Energy (DOE) and the European Union (EU) have funded research projects to develop advanced energy storage and conversion devices using ionic liquids, contributing to new applications in the market.
- Governments in countries like China and India offer tax exemptions and subsidies to companies engaged in the production of ionic liquids, fostering market growth.
- Stringent regulations on traditional solvents due to environmental and health concerns have propelled the adoption of environmentally friendly ionic liquids as alternatives.
- International collaboration and knowledge exchange, such as the International Atomic Energy Agency's (IAEA) coordinated research project on ionic liquids, are further driving the development of the market.
Company Profiles
Celanese Corporation (U.S.), Dow, Inc., Koninklijke DSM NV, Saudi Basic Industries Corporation (SABIC), Avient Corporation, LANXESS AG, TORAY INDUSTRIES INC., Saint-Gobain Group, Solvay S.A, and Evonik Industries AG are some of the key players of the Global Ionic Liquid Market.
Report Scope:
In this report, the Global Ionic Liquids Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Ionic Liquids Market, By Product Type:
- Ammonium
- Imidazolium
- Phosphonium
- Pyrrolidinium
- Pyridinium
- Others
Ionic Liquids Market, By Application:
- Solvents & Catalysts
- Extractions & Separations
- Bio-Refineries
- Energy Storage
For more information about this report visit https://www.researchandmarkets.com/r/q945p7
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