Metal-Organic Framework Global Market Report 2024

The metal-organic framework market size has grown exponentially in recent years. It will grow from $0.37 billion in 2023 to $0.49 billion in 2024 at a compound annual growth rate (CAGR) of 31.3%. The expansion observed in the historical period can be attributed to factors such as strong economic growth in emerging markets, an increase in the usage of smartphones, technological developments in metal-organic frameworks, and an increase in the demand for clean energy.

The metal-organic framework market size is expected to see exponential growth in the next few years. It will grow to $1.25 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%. The anticipated growth in the forecast period can be attributed to factors such as increasing government support, an increase in gas storage capacities, the growing use of electronics, and rising urbanization. Key trends expected in the forecast period involve a focus on specialized MOF materials for various applications, the utilization of artificial intelligence (AI) in the discovery and identification of different metal-organic frameworks, efforts to develop new metal-organic frameworks for improving efficiency and operations across different application areas, increasing investments to expand technological capabilities, and a focus on strategic partnerships and collaborations.

The metal-organic framework market is poised for growth, driven by the increasing production of industrial gases for diverse applications. Industrial gases, including oxygen, hydrogen, and nitrogen, find application across various industries such as chemicals, power, medicine, electronics, aerospace, and food. Metal-organic frameworks (MOFs) play a crucial role in industrial gas storage, separation, and catalysis. In India, the industrial gas market is projected to exceed $3.9 billion in 2023, driven by the burgeoning demand from the metal industry. Thus, the surge in industrial gas production for varied applications is a key factor propelling the growth of the metal-organic framework market.

Anticipated growth in the metal-organic framework market is bolstered by increasing investments, which stimulate technological development and geographical expansion. An illustration of this trend is seen in the October 2022 Series A funding round where MOF Technologies, a UK-based chemical manufacturer, secured £4.4 million ($4.6 million). This funding allows the company, a spinoff from Queen's University Belfast, to enhance its technology and scale operations in Belfast. MOF Technologies specializes in metal-organic frameworks (MOFs), nanomaterials known for their high porosity and applications in storing, separating, and capturing specific gases. Consequently, escalating investments are a driving force behind the growth of the metal-organic framework market.

Stakeholders in the metal-organic framework market are increasingly leveraging artificial intelligence (AI) for the discovery and identification of diverse metal-organic frameworks. The growing availability of experimental and theoretical MOF structural data has led to the use of machine learning (ML) in designing MOFs, expediting the MOF discovery cycle. An example is the development of an automated materials discovery platform in 2021 by researchers at the University of Toronto and Northwestern University. This platform employs machine learning algorithms to analyze materials, suggesting new materials beyond original imaginations, thereby significantly reducing the time required for optimal material identification.

The metal-organic framework market is expected to benefit from the rise in gas storage capacities. The surge in gas storage capacities is driven by the widespread use of gases as energy resources in various industries and daily life. MOFs, known for their exceptional porosity and tunable pore structures, contribute to energy-efficient separation in gas storage applications. For instance, Turkey aims to increase its natural gas storage capacity from 4.7 billion cubic meters to 11 billion cubic meters by 2023, creating additional demand for metal-organic frameworks.

In April 2021, Ascensus Specialties LLC, a US-based chemical company, acquired Strem Chemicals, Inc., specializing in MOFs and Ligands for MOF Synthesis. This acquisition reinforces Ascensus Specialties LLC's efforts in new product and application development, leveraging Strem Chemicals, Inc.'s expertise in metal-organic frameworks (MOFs).

Major companies operating in the metal-organic framework market report are NuMat Technologies Inc., NovoMOF AG, MOFapps, Atomis Inc., Advanced Chemical Synthesis and Manufacturing (ACSYNAM), MOFgen Ltd., ProfMOF, Mosaic Materials Inc., NanoResearch Elements Inc., ET Co Ltd., GS Alliance Co Ltd., Intelligent Materials Private Limited, Aritech Chemazone Pvt Ltd., Girard Hervouet, BASF SE, Promethean Particles Ltd., Rosneft, Largo, Electromash, Elemental Holding, Ascensus Specialties, Aperam, ArcelorMittal, Gerdau, Sinobras, Ternium, BUCHI Labortechnik AG, DILO Armaturen, Anlagen, Hilliard Corporation, National Aluminum Products Company, Mih Building Material, Alico Industries Company Limited, Urbanstudio, Assmang Limited, Anglo American Platinum Limited, BHP Billiton PLC, Arewa Metal Containers Limited (Armeco), Abumet Nigeria Limited, African Steel Mills Limited.

North America was the largest region in the metal-organic framework (MOF) market in 2023. The regions covered in the metal-organic framework market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metal-organic framework market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of metal-organic frameworks include zinc-based, copper-based, iron-based, aluminum-based, magnesium-based, and others. A zinc-based organic framework is one where zinc serves as the metal ion, synthesized through the hydrothermal method, and utilized as a selective nano adsorbent for the extraction and preconcentration of trace amounts of cadmium. Metal-organic frameworks find applications in gas storage, gas and liquid adsorption, catalysis, drug delivery, and other areas.

The metal-organic framework (MOFs) market research report is one of a series of new reports that provides metal-organic framework (MOFs) market statistics, including metal-organic framework (MOFs) industry global market size, regional shares, competitors with a metal-organic framework (MOFs) market share, detailed metal-organic framework (MOFs) market segments, market trends and opportunities, and any further data you may need to thrive in the metal-organic framework (MOFs) industry. This metal-organic framework (MOFs) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The metal-organic framework (MOFs) market consists of sales of secondary-building units or SBU, and a linker. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.