DELRAY BEACH, Fla., Oct. 7, 2024 /PRNewswire/ -- The report "Metal Organic Frameworks Market by Type (Zinc-based, Copper-based, Iron-based, Aluminium-based, Chromium-based), Synthesis Method (Solvothermal/Hydrothermal, Microwave-assisted, Mechanochemical), and Region - Global forecast to 2030", is estimated at USD 0.51 billion in 2024 and is projected to reach USD 1.70 billion by 2030, at a CAGR of 22.1% from 2024 to 2030.
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196 - Tables
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215 - Pages
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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.
Zinc-based type segment is expected to grow with highest CAGR in metal organic frameworks market during the forecasted period.
The metal organic frameworks market is segmented based on the types, zinc-based, copper-based, iron-based, aluminium-based, chromium-based and others. The demand for zinc-based metal organic frameworks is rising due to its versatility, less toxic nature and biodegradability that makes them ideal for drug delivery in biomedical applications. Apart from biomedical applications, it is used in wide range of applications including gas and liquid adsorption/separation, gas storage, and sensing & detection due to its reduced energy consumption and environment friendly nature.
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Microwave-assisted synthesis method is expected to have third largest share during forecasting period in terms of value.
In 2023, microwave-assisted synthesis method accounted for third largest share of the overall metal organic frameworks market in terms of value. Microwave-assisted synthesis method enables the rapid synthesis of metal organic frameworks by the direct interaction of electromagnetic waves and reactants. This enhances the energy efficiency and leads to substantial reductions in energy consumption. It is considered as one of the best synthesis technique due to shorter reaction time and desired control over the morphology. It is gaining immense attention in the field of modern chemistry.
Catalysis application is expected to have third largest share during forecasting period, both in terms of value and volume during the forecast period
The catalysis application segment accounted for the third largest share of overall metal organic frameworks market both in terms of value and volume. The demand for metal organic frameworks is increasing for catalytic applications due to its higher specific surface area, high porosity, tunable pore size volume. Due to their uniform active sites, thermal stability, and insolubility in common solvents, the metal organic frameworks are considered as a versatile platform for designing new heterogenous catalysts. It also plays a unique catalytic role in the preparation of hydrogen and methane gas.
North America region is expected to registered highest CAGR both in terms of value and volume during forecasted period.
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The metal organic frameworks market has been studied in North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
North America is expected to attain highest growth rate during the forecast period for overall metal organic frameworks market, both in terms of value and volume. The North America metal organic frameworks market is experiencing rapid growth, driven by innovative applications, technological advancements, supportive government policies, environmental awareness, and sustainability. Stringent regulations by the US government for reducing greenhouse gas emissions is pushing hard to abate industries to adopt metal organic frameworks. The region's growing concerns about carbon emissions and the need for cleaner energy solutions is driving demand for metal organic frameworks.
Key players
Prominent companies include Nanorh (US), Framergy, Inc. (US), novoMOF (Switzerland), BASF SE (Germany), Numat Technologies, Inc. (US), MOFapps (Norway), Nuada (UK), ProfMOF (Norway), ACSYNAM (Canada), 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)and among others.
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