Ionic liquids, a novel class of molten salts, exhibit a distinctive array of properties that set them apart from traditional molecular liquids. These properties include negligible vapor pressure, a wide thermal and electrochemical window, non-flammability, high ionic conductivity, and exceptional solvating capabilities for a diverse range of compounds. Their emergence as "organic solvent alternatives" has spurred significant interest in both academic and industrial spheres. The dynamic research landscape surrounding ionic liquids is expanding rapidly, owing to their versatile applicability, which stems from the ease with which their physical properties can be fine-tuned through modifications in cation-anion combinations or attached moieties. This talk will offer an overview of ionic liquids, emphasizing their unique thermophysical attributes crucial for applications such as metal ion extraction, CO₂ capture, fuel desulfurization, and aqueous biphasic systems for extracting value-added products. Furthermore, it will delve into the influence of these thermophysical properties on the efficacy of such applications, while also highlighting current research trajectories exploring ionic liquids as solvents within the chemical industry.