Ionic Liquid Market Size

Ionic Liquid Market size was over USD 48.01 million in 2023 and is projected to exceed USD 154.37 million by the end of 2036, witnessing over 9.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ionic liquid is evaluated at USD 51.62 million.

key reason behind this growth is the utilization of ionic liquid in variety of industries, majorly as an industrial solvent, owing to its exceptional properties such as low combustibility and high thermal stability among others. Factors including the increasing demand for ionic liquids for performing extraction and separation processes, and the rising emphasis on formulating solvents on the basis of green chemistry principles are also projected to boost the growth of the market in the near future.