Metal organic frameworks (MOFs) are highly porous crystalline materials composed of metal ions or metal-containing clusters coordinated with organic ligands. MOFs are useful for gas storage and separation due to their uniform pore size, high surface area, and versatility in functionality. They find wide application in gas storage, drug delivery, gas separation, catalysis and others.
The global metal organic framework market is estimated to be valued at US$ 484.06 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
MOFs have emerged as promising sustainable materials due to their unique properties such as high porosity, tunable functionality, low density and flexibility. They can potentially replace traditional inorganic materials in gas storage and separation applications. MOFs offer superior storage capacity and selectivity compared to activated carbon and zeolites. Their porous structures allow for highly efficient adsorption and storage of industrial gases. Moreover, MOFs can be customized through modularity in ligands and metal nodes for selective adsorption of target guest molecules. This has boosted their use in methane storage, hydrogen storage, carbon capture and greenhouse gas removal.
Market key trends:
The key factor driving the growth of metal organic framework market is the increasing focus on development of sustainable materials. MOFs offer higher sustainability than traditionally used materials as they are composed of light weight organic ligands linked via metal ions or clusters. Their Properties such as high surface area, customized functionality and flexibility allowing dynamic structural changes have led to extensive research on MOFs for efficient gas storage and separation. Major companies are investing in R&D to commercialize MOF based technologies for energy-efficient industrial applications such as natural gas storage, hydrogen storage, carbon capture and sequestration. Furthermore, the successful launch of MOF based products will accelerate the market growth over the forecast period.
Segment Analysis
The Global Metal Organic Framework Market Demand is dominated by the zirconium metal organic framework sub-segment. Zirconium metal organic frameworks make up more than 35% of the overall market share due to their uses in gas storage, separation, and catalysis. These frameworks have high surface area, tunable pore size, and precise crystallinity making them suitable for a variety of industrial applications.
Key Takeaways
The global metal organic framework market is expected to witness high growth over the forecast period of 2024 to 2031. The global metal organic framework market is estimated to be valued at US$ 484.06 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2024 to 2031.
Regional analysis shows that Asia Pacific region is expected to grow at the fastest rate owing to rapid industrialization and increasing focus on green technology adoption in countries like China and India. North America currently dominates the market due to presence of major players and high research and development expenditure. Growing chemical and petrochemical industries, increasing demand for emission control technologies, and supportive government policies are driving the metal organic framework market in the region. China dominates the Asia Pacific market with more than 45% share due to presence of leading manufacturing bases and focus on green technology innovation.
Key players
Key players operating in the metal organic framework market are Sterigenics International, Inc., Ionisos SA., Gray Star, Inc., Reviss Services Ltd., Nordion Inc., Sadex Corporation, Steris Isomedix Services, Scantech Sciences Inc., and Steri-Tek. Sterigenics International and Ionisos SA collectively account for over 30% of the global market share due to their diversified product portfolio and extensive geographic presence across major markets.
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