Metal Organic Frameworks Market: Current Analysis and Forecast (2024-2032)
Emphasis on Type (Zinc-based, Copper-based, Iron-based, Aluminum-based, and Chromium-based); Application (Gas Storage, Gas & Liquid Adsorption, Drug Delivery, Catalysis, Sensing, and Luminescence); and Region/Country
Metal Organic Frameworks Market Size & Forecast
The metal organic frameworks market was valued at USD 576.81 million in 2023 and is expected to grow at a robust CAGR of around 15.13% during the forecast period (2024-2032) driven by the increased need for advanced materials in applications such as gas storage, separation, catalysis and drug delivery, as well as the growing demand for green and efficient technologies in environmental and industrial applications.
Metal Organic Frameworks Market Analysis
Metal Organic Frameworks (MOFs) are a class of porous crystalline materials made of metal ions tethered by organic strands and exhibit very high surface areas and properties that can be tailored. Storage, separation, and conversion of various molecules have become possible with these frameworks, thus leading to their growing applications in many sectors. For example, in October 2023, BASF becomes the first company to successfully produce metal-organic frameworks on a commercial scale for carbon capture. Collaborating with Svante will be instrumental in the mitigation of greenhouse gases in industries such as hydrogen, pulp and paper, cement, steel, aluminum and chemicals.
Moreover, the rapid use of MOFs to store and separate gases such as hydrogen, methane and carbon dioxide plays a significant role in nurturing the growth of the market. Increased decarbonization policies and clean energy strategies put in place by many countries have made clean energy a great market for MOFs particularly in carbon capture and hydrogen storage systems. Catalyst applications in chemical reactions and enhanced used in batteries and supercapacitors are additional uses of stimulant organic frameworks.
Metal Organic Frameworks Market Trends
Increased Adoption of MOFs in Carbon Capture and Storage (CCS)
One of the significant trends emerging in the metal organic frameworks industry is the rising adoption of carbon capture and storage (CCS) technologies. As governments and various industries try to attain net-zero emissions and the enforcement of elaborate environmental regulations, MOFs are gaining popularity as one of the most suitable materials for CO2 capture and storage. They possess a very high surface area, customizable pore size design, and great properties of adsorption which are suitable for selectively activating CO2 from the industrial exhausts. For instance, in November 2023, Numat Technologies Inc, a world’s leading MOF producer built the first ever industrial scale manufacturing facility for manufacture of MOFs. The new facility is set to be ready for operation in Spring 2024 and will harness state of art technology in its processes to quicken the time taken in launching new products into the market and mass production of MOF borne products. The use of MOFs in CCS technologies does not solely assist various sectors in complying with the set regulations but is also supporting Greenhouse Gas (GHG) emission reduction. Analysis of the situation shows that such trends are also stimulated by the positive effects from the governmental sources, for example the Green Deal of the European Union and the Inflation Reduction Act of the United States which motivate investment activities in CCS solutions.
Asia Pacific Dominated the Metal Organic Frameworks Market
The Asia Pacific metal organic frameworks market is expected to dominate in the forecast period. One of the reasons for the Asia-Pacific region being the leader of the market is the fact that it has a very strong industrial base which is on the rise, the governments support these countries in tapping into the clean energy source due to their willingness in investing quite a lot in R&D. Countries such as China, Japan and South Korea are major players in enhancing the market by means of technology and implementation in such areas among others as gas storage, catalysis and environmental management. The growth of industrial base in Asia-Pacific regions, more so in China and India, has also increased the use of MOFs in gas storage and catalysis applications. The ever-growing manufacturing and transportation sectors in these nations have also incorporated MOFs to achieve sustainability purposes and improved effectiveness. The Asia-Pacific countries are also making significant investments in carbon reduction technologies, with a focus on renewable energy, in which MOFs are important for applications such as hydrogen storage, carbon capture and gas separation.
In May 2024, Government of China unveiled another redaction of a two-year action plan on energy saving and restraining of carbon emissions until 2025. This strategy had the objective of reinforcing the measures on energy saving and carbon emissions reduction as China enters towards the final year of the implementation of the 14th Five-Year Plan period (2021-2025). Also, within the region, several higher institutions of learning and private entities are involved in active materials science research as it concerns development of new MOF technologies, therefore making this region the most active in this area globally. This made the region concentrate on the innovative synthesis and application of MOFs thereby integrating themselves among the leaders of the market.
Metal Organic Frameworks Industry Overview
The metal organic frameworks market is competitive and concentrated, with few global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some major players operating in the market are BASF, novoMOF, Ascensus, MOFapps, Nanorh, framergy, Inc., NuMat Technologies, Inc., Svante Technologies Inc., Promethean Particles, and Immaterial Ltd.
Metal Organic Frameworks Market News
In November 2023, Numat Technologies Inc, a world’s leading MOF producer built the first ever industrial scale manufacturing facility for manufacture of MOFs. The new facility is set to be ready for operation in Spring, 2024 and will harness state-of-the-art technology in its processes to quicken the time taken to launch new products into the market and mass production of MOF borne products.
In October 2023, BASF becomes the first company to successfully produce metal-organic frameworks on a commercial scale for carbon capture. Collaborating with Svante will be instrumental in the mitigation of greenhouse gases in industries such as hydrogen, pulp and paper, cement, steel, aluminum and chemicals.
In February 2024, Numat Technologies, Inc. announced the opening of a facility to manufacture MOFs in Wisconsin. This new facility has been opened to meet customer demands in Numat's Extreme Environments and Energy line of business.
Metal Organic Frameworks Market Report Coverage
Report Attribute | Details |
Base year | 2023 |
Forecast period | 2024-2032 |
Growth momentum | Accelerate at a CAGR of 15.13% |
Market size 2023 | USD 576.81 million |
Regional analysis | North America, Europe, APAC, Rest of the World |
Major contributing region | Asia Pacific dominated the market in 2023 |
Key countries covered | The US, Canada, Germany, The UK, Spain, Italy, France, China, Japan, and India |
Companies profiled | BASF, novoMOF, Ascensus, MOFapps, Nanorh, framergy, Inc., NuMat Technologies, Inc., Svante Technologies Inc., Promethean Particles, and Immaterial Ltd. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Type, By Application, and By Region/Country |
Reasons to buy this report:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
The report presents a quick review of overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
Customization Options:
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Table of Contents
Research Methodology for the Metal Organic Frameworks Market Analysis (2024-2032)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global metal organic frameworks market were the three major steps undertaken to create and analyze the adoption of metal organic frameworks in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global metal organic frameworks market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertain to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the metal organic frameworks through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the metal organic frameworks market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are type and application. Further country-level analysis was conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the metal organic frameworks. Further, we conducted factor analysis using dependent and independent variables such as type and application of the metal organic frameworks market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the metal organic frameworks market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global metal organic frameworks market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the metal organic frameworks market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the global metal organic frameworks market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global organic metal frameworks market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type and application in the global metal organic frameworks market.
The main objective of the Global Metal Organic Frameworks Market Study
The current & future market trends of the global metal organic frameworks market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current and forecast market size of the metal organic frameworks market in terms of value (USD). Also, analyze the current forecast and market size of different segments and sub-segments.
Segments in the study include areas of the type and application.
Define and analysis of the regulatory framework for the metal organic frameworks
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the metal organic frameworks market for the major region.
Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
Company profiles of the metal organic frameworks market and the growth strategies adopted by the market players to sustain in the fast-growing market.
Deep dive regional level analysis of the industry
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the metal organic frameworks market?
The metal organic frameworks market was valued at USD 576.81 million in 2023 and is expected to grow at a CAGR of 15.13% during the forecast period (2024-2032).
Q2: What are the driving factors for the growth of the metal organic frameworks market?
The Increased application of MOFs in gas storage, catalysis, and environmental concerns, along with development of clean energy technologies, primarily drives the metal organic frameworks market.
Q3: Which segment has the largest metal organic frameworks market share by Type?
The copper-based segment has the largest metal organic frameworks market share by Type.
Q4: What are the emerging technologies and trends in the metal organic frameworks market?
Increased adoption of MOFs in carbon capture and storage (CCS) is one of the significant trends in the metal organic frameworks market.
Q5: Which region will dominate the metal organic frameworks market?
Asia Pacific is expected to dominate the market during the forecast period.
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