Ionic Liquids: Environmentally Sustainable Solvent, Energy Storage and Separation Processes

Ionic Liquids: Environmentally Sustainable Solvent, Energy Storage and Separation Processes

  • October 2021 •
  • 173 pages •
  • Report ID: 5784064 •
  • Format: PDF
Report Scope:
This report reviews both global and regional ionic liquid markets for different end-use industries.The report analyzes the current market status and trends and provides growth forecasts for the five-year period from 2020 to 2026.

The report has detailed analyses of key trends and opportunities that would help market growth. It will also analyze the major challenges faced by manufacturers and end users of ionic liquids.

The report will also have a separate section highlighting the impact of COVID-19 on ionic liquid market at a global level. The section will include the impact of COVID-19 on demand and supply of ionic liquids, as well as various strategic decisions taken by government to boost the market.

The market size and estimations are provided in terms of value ($ thousands), with 2020 as the base year and market forecasts from 2021 to 2026. For companies that reported their revenue in other currencies, the average annual currency conversion rate was used for the particular year to convert the revenue to U.S. dollars.

The report study will be segmented into four geographical regions: North America, Europe, Asia-Pacific and Rest of the World (ROW), along with a segmental analysis based on applications. The impact of COVID-19 will be considered while estimating the market size.

Report Includes:
- 83 tables
- An overview of the global markets and applications of ionic liquids
- Analyses of global market trends, with data from 2020, estimates for 2021 and projections of compound annual growth rates (CAGRs) through 2026
- Coverage of milestones in the history of ionic liquids; explanation of characteristics of ionic liquids such as low vapor pressure, stability, and environment friendliness, and discussion on current events within the industry
- Description of commercial ionic liquids production technologies and discussion on ionic liquids as a sustainable replacement of traditional organic solvents
- Detailed analysis of the current market trends and forecast, relevant R&D activities, new products launches and product enhancement in the industry and discussion of regulatory elements that are affecting the future marketplace
- Analysis of supply and sourcing issues, latest development, commercialization hurdles, market trend, and demand side analysis
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Comprehensive company profiles of the suppliers of different types of ionic liquids, including BASF SE, Ionic Liquid Chemicals LLC, Koei Chemical Co., Ltd., Proionic GMBH, Solvay and Synthio Chemicals Inc.

Ionic liquids, a small specialty chemical market, have recently started to receive attention frominvestors and end users. The industry is expanding slowly but steadily as suppliers struggle to keep pacewith the global demand for alternative, environmentally friendly technologies across different applications including energy storage, industrial solvents and biomass processing.

High manufacturing costs as a result of small-scale batch production are a primary barrier for the penetration of materials in end use applications.High raw material costs are hindering the numberof players entering the market.

Aswith otheremerging technologies, cost benefitsmay not be immediately obvious due to low volume of production.BCC Research expects large-scale ionic liquid supply by 2022, along with at least a 70% decline in price.

For instance, Chevron commercialized an alkylation unit based on ionic liquid in April 2021. This will be associatedwith accelerated technology adoption and faster commercialization, with a compound annualgrowth rate (CAGR) of REDACTED from2021 to 2026.

Security of supply and cost are the twomajor factors affecting the global IL market.Today, there are many suppliers of ionic liquids with production capacity varying from the gram scale to the multi-ton scale.

As the demand for ionic liquids has not been established properly inmany of its end-use application markets, suppliers are restricting their full capacity production or producing on a small scale. This has resulted in high production costs, and as a result,many end users do not find ionic liquids to be price competitive.

Though today there are only a limited numberof commercial processes available that use ionic liquids, there is clearly a path forward that suggests that ionic liquid technologies are viable if costs can be controlled. The application market is dominated by startups and university spin-offs in partnershipwith conventional ionic liquid manufacturers.With the recent success in commercialization andmarket adoption stories, ionic liquid technologies are certain to broaden in the coming years.

Supportive government regulations inmany regions are anticipated to have a positive impact on the global ionic liquid market, especially for renewable technology applications. Stringent regulations banning certain toxic solvents and processed chemicals in various industry sectors, especially in developed regions such as the U.S. and Europe, are primarily propelling market growth. Incentives offered by governments, especially promoting the use of renewable sources, are expected to have a positive impact on global ionic liquid demand fornext five years.

The solvent and catalyst application marketwill remain the major end-use market for ionic liquids by value during the forecast period, followed by separation processes, electrochemicaldevices and biotechnology. However, the electrochemicaldevice market is expected to growat the largestCAGR during the forecast period.