Ionic Liquids Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast 2022-2027
The Ionic Liquids market size is estimated to reach US$4.4 billion by 2027 after growing at a CAGR of 18.2% during the forecast period 2022-2027. The ionic liquids are a special group of molten salts that comprise of anions and cations and are usually liquid at or below the 100°C. Ionic liquids such as ethylammonium nitrate and aluminum hydrogen sulphate are used as powerful solvents and electrolytes for a wide range of applications such as catalysts and auxiliaries in chemical synthesis, supercapacitors, electric batteries, lubricants, and others. The increasing demand for ionic liquids over organic solvents owing to their low VOC content and relatively low vapor pressure is anticipated to be a major driving factor for the ionic liquids market. The rising demand for ionic liquids as a green solvent for various biochemical reactions in green chemistry is driving the market. The covid-19 pandemic majorly impacted the market due to restricted production, supply chain disruption, logistic...