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Metal-Organic Framework Global Market Report 2021: COVID-19 Implications And Growth

Metal-Organic Framework Global Market Report 2021: COVID-19 Implications And Growth

  • September 2021
  • 175 pages
  • ID: 6151378
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the metal-organic framework market are BASF SE, GS Alliance Co. Ltd., MOF Technologies Ltd, MOFWORX, Mosaic materials LLC, Nanoshel LLC, novoMOF AG, Numat Technologies Inc., ProfMOF, Promethean Particles Ltd, Strem Chemicals Inc., MOFgen Ltd., ACSYNAM, Atomis Inc., Energy Exploration Technologies, Framergy Inc., and Immaterial Labs Ltd.

The global metal-organic framework (MOF) market is expected to grow from $152.63 million in 2020 to $191.76 million in 2021 at a compound annual growth rate (CAGR) of 25.6%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $485.06 million in 2025 at a CAGR of 26.1%.

The metal-organic framework (MOFs) market consists of sales of metal-organic frameworks by entities (organizations, sole traders, and partnerships) that have physical and chemical properties and also have features such as high surface area, easily adjustable structure, and flexibility. Metal-organic frameworks are a class of nanoporous crystalline materials that consist of a regular array of positively charged metal ions surrounded by organic linker molecules.

The main types of metal-organic frameworks are zinc-based, copper-based, iron-based, aluminum-based, and magnesium-based.A zinc-based organic framework is a framework in which zinc is present as the metal ion which is synthesized via the hydrothermal method and used as a selective nano adsorbent for the extraction and preconcentration of trace amounts of cadmium.

The metal-organic framework is mainly used in gas storage, gas and liquid adsorption, catalysis, and drug delivery.

North America was the largest region in the metal-organic framework (MOF) market in 2020 The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Technological advancement in material science is an emerging trend in the metal-organic framework market.Metal-organic frameworks are a new class of crystalline materials that are porous and can capture compounds in their molecular cavities.

Some MOFs can be transformed into glass by cooling their liquid state.For example, some liquid and glass MOFs can exhibit properties of luminescence that demonstrate porosity, ion conductivity, and optical properties.

They can also store heat in energy devices for gas permeation.For instance, in August 2020, EnergyX and ProfMOF had entered a partnership to promote the use of metal-organic frameworks (MOFs).

Both the companies are looking for ways to implement nanotechnology materials that are suitable in the development of projects involving renewable energy and large-scale lithium-ion production and battery storage.

In April 2021, Ascensus Specialties LLC, a US-based chemical company acquired Strem Chemicals, Inc. for an undisclosed amount. Strem Chemicals Inc. is a company that specializes in MOFs and Ligands for MOF Synthesis. Through this acquisition, Ascensus Specialties LLC further amplifies its new product and application development efforts. Strem Chemicals, Inc. is a US-based chemicals company that manufactures offers metal-organic frameworks (MOF) products.

The growing production of industrial gases for different applications is expected to propel the growth of the metal-organic framework market.Industrial gases are gasses that are at room temperature and pressure such as oxygen, hydrogen, and nitrogen, and they are used in various industrial applications such as in the production of chemicals, power, medicine, electronics, aerospace, and food.

MOFs are used for industrial gas storage and separation along with catalysis. According to Entrepreneur India, the Indian industrial gases market is expected to surpass $3.9 billion in the year 2023 because of the growing demand for the metal industry. Therefore, the increasing production of industrial gasses for different applications drives the growth of the metal-organic framework market.

The countries covered in the metal-organic framework market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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