Ionic Liquid Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030

The Global Ionic Liquid Market Size accounted for USD 1,604 Million in 2021 and is estimated to achieve a market size of USD 7,117 Million by 2030 growing at a CAGR of 18.2% from 2022 to 2030. Growing environmental emphasis on green chemistry is expected to drive demand for the product as an organic solvent, propelling the ionic liquids market growth. Furthermore, rising demand from extractions and separations applications is predicted to fuel the ionic liquids market value over the forecast period.

Ionic Liquid Market Report Key Highlights

• Global ionic liquid market revenue is estimated to expand by USD 7,117 million by 2030, with an 18.2% CAGR from 2022 to 2030.
• North America ionic liquid market share accounted for over 33.9% shares in 2021
• Asia-Pacific ionic liquid market growth will observe fastest CAGR of 19% from 2022 to 2030
• Among application, foundry sands sector engaged more than 35.1% of the total market share
• Growing environmental emphasis on green chemistry, drives the ionic liquid market size

Ionic liquids (ILs) are salts made up of cations and anions that are usually liquids at or below 100 degrees Celsius. Unlike molecular liquids, ionic liquids have distinct properties that make them promising solvents for a variety of industrial applications. High polarity, negligible volatility, high thermal stability, high ionic conductivity, low melting point, and structural designability are some of the physicochemical properties. Furthermore, ionic liquids are regarded as promising solvents with distinct properties in organic synthesis, catalysis, electrochemistry, metal separation, gas separation, biomass processing, pharmaceuticals, tribology, and energy storage devices such as batteries, supercapacitors, and fuel cells, among others.

Global Ionic Liquid Market Dynamics

Market Drivers

• Growing environmental emphasis on green chemistry
• Rising demand from the extractions and separations application
• Extensively utilized in applications like solvents and catalysts
• Significant emphasis is placed on drug delivery

Market Restraints

• Toxicology of the product
• High raw material costs

Market Opportunities

• Increasing government expenditure on environmental compliance
• Increasing R&D activities to create new ionic liquid applications

Ionic Liquid Market Report Coverage

Ionic Liquids For Drug Delivery Have Gained Significant Attention In The Global Market Propelling Overall Growth

In drug discovery and development, it is estimated that approximately 40% of commercialized drugs and 90% of under-study drugs have inadequate pharmaceutical properties, severely limiting therapeutic efficacy. As a result, there is a growing need to identify the strategies responsible for improving the delivery of such drugs. Ionic liquids are a novel class of liquids composed of organic salts of particular interest, either alone or in combination with drug delivery systems. Furthermore, there is a growing interest in ionic liquids for drug solubility, formulation, and drug delivery, with a focus on nanotechnology. Such factors drive global ionic liquid market trend.

Big Calls For Ionic Liquid In Pharmaceutical Industry Have Gained Huge Prominence In The Global Market

According to a report published in the Tropical Journal of Pharmaceutical Research, the pharmaceutical industry is unquestionably facing significant challenges. Co-crystals, amorphous forms, and polymer-embedded pharmaceuticals are part of the solution to overcome such challenges, and the introduction of ionic liquids into the pharmaceutical world provides even more design options. Furthermore, ILs address critical pharmaceutical issues, such as low solubility and thus bioavailability of pharmaceutical compounds, as well as the presence of polymorphs, which have a negative impact on the efficacy of important commercially available drugs. The development of strategies to use ILs as carriers of pharmaceutically active compounds is a very promising and broad field. Furthermore, the synthesis of liquid salts through the careful combination of cations and anions with various pharmaceutical roles provides solutions to today's pharmaceutical industrial challenges.

Ionic Liquid Utilization For The Treatment Of Cancer And Tuberculosis Has Gained Significant Attention That Fuels The Growth Of Overall Market

There is currently an ongoing study that focuses on studies in the biological activity of ionic liquids and their application in cancer and tuberculosis treatment, both of which are newly emerging and highly important areas. Because some ionic liquids exhibit a synergistic effect with properties that can change and alter the toxicity of ionic liquids, it is reasonable to believe that ionic liquids can be used as anti-cancer, anti-viral, and other therapeutic agents. Ionic liquids also improve solvents, co-solvents, and materials in a variety of applications, including biological applications. In comparison to the extensive use of ionic liquids in medical formulations for the treatment of cancer, there have been reports available for the use of ionic liquids in the treatment of tuberculosis, with a primary focus on ionic liquids utilization as a catalyst for the synthesis of anti-tuberculosis agents, solvents for anti-tuberculosis antibiotics, and acts as a solvent and catalyst in syntax. Such factors contribute to the global ionic liquid market's expansion.

Key Takeaways

According to a report released by the PubAg U.S. DEPARTMENT OF AGRICULTURE, ionic liquid salts (ILs) are currently one of the key trends in modern chemistry. Furthermore, ILs are thought to be advantageous replacements for traditional organic solvents, and thus much more environmentally friendly. Furthermore, ILs can be easily produced to tailor physicochemical properties to specific applications, as is currently happening with several separation processes. This has a positive impact on the overall growth of the ionic liquids market.

Ionic Liquid Market Segmentation                  

The worldwide ionic liquid market segmentation is based on the application, and geography.

Ionic Liquid Market By Application

• Solvents & Catalysts
• Bio-refineries
• Extraction & Separation
• Energy Storage
• Others

According to the ionic liquid industry analysis, the solvents and catalysts segment held the largest share of the market in 2021 and will continue to do so throughout the forecast period. According to a Royal Society of Chemistry report, basic ionic liquids have been shown to catalyze a wide range of organic reactions, particularly chemical reactions. Furthermore, due to their unique structures and properties, ionic liquids show promising results for capturing and activating CO2, making them ideal alternatives to volatile organic solvents or catalysts for CO2 transformation. Such factors have a positive impact on segmental growth, which in turn contributes to market growth overall.

Ionic Liquid Market Regional Outlook