Metal Organic Frameworks Market Estimated to Reach $22.1 billion by 2030 Globally, at a CAGR of 22.1%, says MarketsandMarkets™

/EIN News/ -- Delray Beach, FL, Nov. 01, 2024 (GLOBE NEWSWIRE) -- The Metal Organic Frameworks Market is projected to grow from USD 0.51 billion in 2024 to USD 1.70 billion by 2030, at a CAGR of 22.1% during the forecast period, as per the recent study by MarketsandMarkets. The growth of metal organic frameworks is driven by several factors. Rising demand for efficient gas storage solutions and increasing shift towards clean energy is driving the adoption of metal organic frameworks in several industries. Metal organic frameworks finds its uses in gas adsorption, gas separation, sensing & detection, catalysis, and water harvesting applications due to its unique properties such as high porosity, larger surface area, structural diversity, and tunable pore size. Emergence of artificial intelligence and machine learning for identifying and selecting perfect metal organic frameworks for various applications is likely to boost the demand for metal organic frameworks market.

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196 – Market Data Tables
51 – Figures
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List of Key Players in Metal Organic Frameworks Market:

1. Nanorh (US)
2. Framergy, Inc. (US)
3. novoMOF (Switzerland)
4. BASF SE (Germany)
5. Numat Technologies, Inc. (US)
6. MOFapps (Norway)
7. Nuada (UK)
8. ProfMOF (Norway)
9. ACSYNAM (Canada)
10. Promethean Particles Ltd. (UK), ACMOFS (China), GS Alliance Co., Ltd. (Japan), Physical Sciences Inc. (US), Majd Onsor Fartak (Iran), SyncMOF Inc. (Japan), Immaterial Ltd. (UK), Atomis Inc. (Japan), CD Bioparticles (US), Nanowiz Tech (India), Kerone Engineering Solutions Ltd. (India), Nanoshel LLC (US), Jiangsu Xianfeng Nanomaterial Technology Co., Ltd. (China), Decarbontek, Inc. (US), Svante Technologies Inc. (Canada), Nanochemazone (India)

Drivers, Restraints, Opportunities and Challenges in Metal Organic Frameworks Market:

1. Driver: Growing demand for metal organic frameworks to curb down carbon emissions
2. Restraint: High cost of metal organic frameworks
3. Opportunity: Growing investments in green hydrogen projects to boost the market
4. Challenge: Toxicity concerns in metal organic frameworks

Key Findings of the Study:

1. Copper-based metal organic frameworks accounted for the largest market share, both in terms of value and volume.
2. Mechanochemical synthesis method accounted for the second largest market share, both in terms of value and volume
3. Gas storage application segment is estimated to account for the highest market share in 2023, in metal organic frameworks market.
4. Europe to hold the largest market share during the forecast period.

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Based on type, Zinc-based segment is expected to have the second largest share of the metal organic frameworks market in 2023 by value. Zinc-based metal organic frameworks are majorly used in biomedical applications including drug delivery due to their versatility, lower toxicity, and being easily biodegradable. Key factors driving their use for gas adsorption and gas storage applications is due to their improved storage and control over reaction ability between gas molecules and components. Additionally, copper-based metal organic frameworks hold the largest share in the metal organic frameworks market due to their growing demand for gas adsorption, gas storage, catalysis, and sensing & detection applications.

Based on synthesis method, Mechanochemical segment is expected to have the second largest share of the metal organic frameworks market in 2023 by value. The mechanochemical synthesis method is widely used for the preparation of metal organic frameworks due to its shorter reaction time, cost effectiveness and environmentally friendly synthesis. It offers several advantages, including higher yields, product purity, and availability of reactants and products that are difficult to encounter in conventional solution-based synthesis. Metal organic frameworks prepared by mechanosynthesis are used for gas separation and carbon capture applications.

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Based on application, the metal organic frameworks market has been segmented into gas and liquid adsorption/separation, water harvesting, gas storage, sensing & detection, catalysis, and other applications. Metal organic frameworks is widely used for gas and liquid adsorption/separation application due to its larger surface area, highly porous structure, and high selectivity. Gas and liquid adsorption/separation holds the second largest share of the metal organic frameworks market in 2023 by value.

Based on Region, North America was the third largest market for the metal organic frameworks in 2023, with US being the largest market in the region. The North American metal organic frameworks market is experiencing significant growth and presents various opportunities for industry players. This growth is fuelled by the increasing demand for efficient gas storage solutions. Strong research and development initiatives and growing focus towards clean energy solutions is driving the demand for metal organic frameworks in this region.

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