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Venkat Reddy
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Innovating Implementation of IL in the Battery Industry to uplift the Ionic Liquids Market Growth
As of 2018, Ionic Liquids Market revenue rested at around 26 million, which is expected to escalate at a healthy CAGR of 9.4% throughout the forecast period 2019-2025.

Ionic Liquids Market, 10/11/2019 - The declining fossil resources and concerning environmental degradation have given rise to the research and development for an alternative source of energy that can be renewed. The recent positive outcome of various such researches has yielded in the generation of biofuels that are constantly driving the transportation sector. The manufacturing of biofuels with the use of non-edible oil and algae is a path-breaking movement that is all set to bring impeccable opportunities to the ionic liquids market players. Ionic liquids coupled with Bligh and Dyer method were witnessed to be efficient for the extraction of the lipid from the algal biomass. This generation of biomass and oil have paved the way for the establishment of biofuels, which can be incorporated in different verticals to bring further innovation.These revolutionary breakthroughs for a greener and better environment are all set to create a demand influx in the ionic liquids market. As of 2018, Ionic Liquids Market revenue rested at around 26 million, which is expected to escalate at a healthy CAGR of 9.4% throughout the forecast period 2019-2025.

The increase in the investigation related to ionic liquids, solid-state electrolytes, and polymers have resulted in the discovery of innovative electrolytes, which are based on polymers and ionic liquids for next-generation solid-state batteries. The global battery market is booming, and it collected a revenue avenue of around $115.62 billion in 2018, which is evaluated to escalate at a healthy CAGR of 8.21% during the forecast period 2019-2025.

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Global Ionic Liquids Market Size Dominated by North America:

Identified for its lesser toxicity level and relatively no vapor pressure properties, ionic liquids are often titled as green solvents. These exciting properties of ionic liquids are making it one of the most wanted components amidst the business leaders. North American countries have been emerging with unique implementation ideas regarding this chemical compound in various industries, and thus, the continent has bagged the largest ionic liquid market share of around 35% amongst the other global opportunities.

Ionic Liquid Market: Competitive Landscape

The major market players who are currently holding maximum shares and expanding further in the ionic liquids market are BASF SE, Evonik Industries AG, Solvay S.A., The Merck Group, The Chemours Company, proionic GmbH, Solvionic SA, IoLiTec-Ionic Liquids Technologies GmbH, Strem Chemicals, Inc., CoorsTek Specialty Chemicals, Jinxi Jinkai Chemical Co.,Ltd., Reinste Nano Ventures, and Tatva Chintan Pharma Chem Pvt. Ltd.

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