In a recent published report, Kenneth Research has updated the market report for Ionic Liquids Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Ionic Liquids Market products.
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The global Ionic Liquids market was valued at USD 25.7 million in 2016 and is projected to reach USD 55.9 million by 2025, growing at a CAGR of 9.0% from 2017 to 2025.
Ionic liquids are salts in which ions are arranged in poorly coordinated manner. The growing demand for these products can be attributed to the presence of free radicals. Ionic liquids are majorly used as solvents. The process improvements achieved in the chemical industry due to the application of ionic liquids is expected to boost market demand.
1. Market Drivers
1.1 Favorable properties of ionic liquids
1.2 R & D on new applications
2. Market Restraints
2.1 High cost of ionic liquids
The global Ionic Liquidsmarketis segmented on the basis ofapplication,and region.
1. By Application:
1.1 Process and Operating Fluids
1.2 Catalysts and Solvents
1.3 Batteries and Electrochemistry
2. By Region:
2.1 North America (U.S., Canada, Mexico)
2.2 Europe (Germany, UK, France, Rest of Europe)
2.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
2.4 Latin America (Brazil, Argentina, Rest of Latin America)
2.5 Middle East & Africa
The major players in the market are as follows:
2. BASF SE
3. Merck KGaa
5. The Chemours Company
6. Strem Chemicals Inc.
7. Solvionic SA
8. TatvaChintanPharmaChem Pvt. Ltd.
10. Jinkai Chemical Co.
11. Coorstek Chemical Co. Ltd.
12. Ionic Liquids Technologies GmbH
13. Solvay SA
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Ionic Liquidsmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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