Metal Organic Frameworks Market projected to reach USD 19.5 Billion by 2030, growing at a CAGR of 12.7% during the forecast period of 2023-2030 - pronounced by MarketDigits in its recent study

The Global Metal Organic Frameworks Market was valued USD 7.5 Billion in 2022 and projected to reach USD 19.5 Billion by 2030, growing at a CAGR of 12.7% during the forecast period of 2023-2030


Richmond, Nov. 29, 2023 (GLOBE NEWSWIRE) -- According to a research report "Metal Organic Frameworks Market, by Type (Zinc-based, Copper-based, Iron-based, Aluminum-based, Magnesium-based, others), Application (Gas Storage, Gas & Liquid Adsorption, Catalysis, Drug Delivery, Others) and Region.

Global Metal Organic Frameworks Market Report Scope:

Report Details
Market size value in 2022 USD 7.5 Billion
Market size value in 2030 USD 19.5 Billion
CAGR (2023-2030) 12.7%
Forecast Period 2023–2030
Historic Data 2019
Forecast Units Value (USD Million/USD Billion)
Segments Covered Type, Application and Region
Geographies Covered North America, Europe, Asia Pacific, and RoW
 
  • BASF SE
 
  • Framergy Inc.
Sample of Companies Covered
  • Mosaic Materials
 
  • MOF Technologies
 
  • NuMat

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TOC Covers in Depth & Breath on Metal Organic Frameworks Market
175 - Market Data Tables
68 - List of Figures
230 – Pages

The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.

Market Overview

The global metal organic framework (MOF) market holds a pivotal role in the overall ecosystem, serving as a key player in various industries. MOFs are porous materials with high surface areas and tunable properties, making them versatile for applications such as gas storage, separation, catalysis, and drug delivery. Their unique structural characteristics contribute to advancements in energy storage, environmental protection, and pharmaceuticals, thereby fostering innovation across multiple sectors.

In the industrial landscape, MOFs play a vital role in enhancing efficiency and sustainability. For instance, in the energy sector, MOFs are utilized for gas storage and separation, offering solutions for clean energy production and storage. Additionally, their applications in catalysis contribute to more sustainable manufacturing processes. In pharmaceuticals, MOFs facilitate controlled drug delivery, revolutionizing the field of medicine. Overall, the metal organic framework market's impact extends beyond individual sectors, influencing the broader industry by providing innovative solutions to complex challenges and driving advancements in technology and sustainability.

Major Vendors in the Global Metal Organic Frameworks Market:

  • BASF SE
  • Framergy Inc.
  • Mosaic Materials
  • MOF Technologies
  • NuMat
  • CSIRO
  • Promethean Particles
  • MOF Apps
  • Prof MOF
  • Novo MOF

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Increasing Applications in Gas Storage and Separation

Metal-organic frameworks (MOFs) have gained significant traction due to their exceptional porosity, high surface area, and tunable chemical properties. One of the primary drivers for the global MOF market is the increasing use of MOFs in gas storage and separation applications. MOFs exhibit remarkable capabilities for adsorbing gases, such as hydrogen, methane, and carbon dioxide, making them valuable in clean energy and environmental protection initiatives.

The demand for MOFs in gas storage and separation has risen in response to the growing focus on sustainable energy sources and the need for efficient carbon capture technologies. For instance, MOFs are being explored for storing and delivering hydrogen in fuel cell vehicles, contributing to the advancement of the hydrogen economy. This application extends to natural gas storage, providing a viable solution for addressing energy security concerns. As governments worldwide push for cleaner energy alternatives and stringent environmental regulations, the use of MOFs in gas storage and separation is expected to drive the market forward.

Market Dynamics

Drivers:

  • Increasing demand for sustainable and green technologies.
  • Growing applications in gas storage and separation.
  • Rising awareness about energy-efficient materials.
  • Expanding use in catalysis and drug delivery applications.

Opportunities:

  • Advancements in MOF synthesis and manufacturing techniques.
  • Exploration of new industrial applications and markets.
  • Rising investments in research and development activities.
  • Integration of MOFs in electronic and optical devices.

Expanding Use in Catalysis and Chemical Synthesis

Another significant driver for the global MOF market is the expanding use of MOFs in catalysis and chemical synthesis. MOFs exhibit catalytic properties that can be tailored for specific chemical reactions, offering a versatile platform for catalysis in various industries. The modular nature of MOFs allows for the design of catalysts with enhanced activity, selectivity, and stability, making them attractive for applications in pharmaceuticals, petrochemicals, and fine chemical synthesis.

The catalytic capabilities of MOFs are opening new avenues for efficient and sustainable chemical processes. As industries seek environmentally friendly alternatives and efficient catalysts, MOFs have emerged as promising candidates. The ability to customize MOF structures for specific catalytic functions enhances their appeal in green chemistry initiatives. This driver is expected to foster research and development activities in the MOF market, driving innovation and creating opportunities for commercial applications in catalysis and chemical synthesis.

Asia-Pacific dominates the market for Metal Organic Frameworks.

The dominating region in the global MOF market is Asia-Pacific, with China playing a pivotal role. The region's dominance can be attributed to the extensive research and development activities, a robust manufacturing sector, and the widespread adoption of MOFs in various applications. China, in particular, has emerged as a key contributor to the global MOF market, with numerous research institutions and companies actively engaged in MOF-related projects.

One of the upcoming countries with high growth potential in the MOF market is India. The country is witnessing a surge in research and applications related to MOFs, driven by a growing emphasis on sustainable technologies and environmental concerns. The Indian government's focus on promoting clean energy and the chemical industry's adoption of advanced materials are creating a favorable environment for the expansion of the MOF market in India. As the demand for energy-efficient and environmentally friendly solutions rises, India is poised to become a key player in the global MOF market.

The Type Segments is anticipated to hold the Largest Market Share during the Forecast Period

In the global metal organic frameworks market, the type segment is diversified into Zinc-based, Copper-based, Iron-based, Aluminum-based, Magnesium-based, and Others. Among these, Zinc-based MOFs currently dominate the market. This supremacy can be attributed to the distinctive properties of Zinc-based MOFs, such as high surface area, exceptional porosity, and tunable chemical functionality. These characteristics make Zinc-based MOFs versatile in various applications, including gas storage, drug delivery, catalysis, and sensors. Additionally, their ease of synthesis and cost-effectiveness further contribute to their widespread adoption. While other types, such as Copper-based and Iron-based MOFs, exhibit unique features, the combination of favorable properties and practical advantages places Zinc-based MOFs at the forefront of the market.

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