NEW YORK, March 3, 2016 /PRNewswire/ -- Technology Advancements in Ionic Liquids (TechVision): Sustainability Initiatives Driving Opportunities for Ionic Liquids Across Industries
The market for Ionic Liquids is gaining momentum in recent years mainly due to its capability for sustainable replacement of traditional organic solvents in many industrial applications. In certain industries, ionic liquids can also be considered as green chemistry as they reduce or eliminate the use and generation of hazardous substances in many of the process industries. Though most of the ionic liquid-based technologies are in the nascent stage of development, the potential market for ionic liquids is enormously large.
This research service titled, "Technology Advancements in Ionic Liquids (TechVision)" , focuses on the recent innovations and opportunities in the ionic liquids markets worldwide. This research service summarizes the existing and emerging technology and application areas related to ionic liquids. This includes use of ionic liquid as electrolytes for next-generation batteries, supercapacitors and other electrochemical devices, medium for separation processes, metal finishing, plasticizers, and so on. The study also includes prioritization of key future opportunities for ionic liquid based technologies using a pre-defined, weightage based criteria. The focus areas of the research include opportunity analysis of several ionic liquid based emerging technologies and an assessment of their market impact. This research service also offers a roadmap highlighting the adoption of ionic liquid technologies across various industrial sectors.
Ionic Liquids (IL) are made up of an equal number of positive and negative ions which offer properties such as stability and low-volatility, enhancing its application potential. However, toxicity of IL and the difficulty to remove intermediates during the reaction are issues that still need to be addressed. With new cations and ions being discovered, IL are expected to have a wide potential across various applications.
Currently, the demand in the market for ionic liquids is still low.
However, the opportunities offered by ionic liquids are being recognized more and more, with their uses being considered in a wide variety of potential application sectors. This will create a strong increase in ionic liquid demand in the future. North America and Western Europe currently lead the market for ionic liquids. Some factors which are driving the market include end use market expansion/global demand and eco-friendliness. Key challenges include cost and standardization problems.
The major application sectors of ionic liquids are their uses as "green solvents" in numerous industrial sectors. These include chemical reaction reagents, battery electrolytes, industrial solvents, metal finishing, solvents for bioprocessing, thermal fluids and functional fluids. Among these, ionic liquid based industrial solvents and ionic liquid based separation processes have achieved highest amount of industry adoption.
BASF, Merck, and IoLiTec are the key stakeholders identified from the supply-side perspective. The industry is highly interdependent with a large number of R&D collaborations and technology acquisitions. Also, on the supply side, companies with novel ionic liquid technologies are mostly interested in protecting their technologies by filing patents; and collaborating with end users for scaling up to commercial level.
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