Proficient Market has published a new report titled “Global Metal-Organic Frameworks Market”. According to the report, global metal-organic frameworks market in 2018 stood at USD 29,927.2 Thousand and is expected to reach USD 311,491.4 Thousand by 2026 growing at a CAGR of 34.58 % from 2019 to 2026.
Metal organic frameworks are structures made up of inorganic nodes, which can either be single ions or clusters of ions, and organic linkers. Owing to their structural and functional tenability as well as their ever-expanding application scope, MOFs have become an emerging class of porous materials constructed from metal-containing nodes and organic linkers. Materials were apparently up to this point not stable enough, not mechanically robust, too expensive and production methods for larger quantities were environmentally unfriendly. At present, in developed countries, the Metal-organic Frameworks industry is generally at a more advanced level. The main application for MOFs is gas storage due to their exceptional surface areas. MOFs are ideal materials for hydrogen storage at low temperatures.
Global Metal-Organic Frameworks Market: Key Players
The research study includes profiles of leading companies operating in the global metal-organic frameworks market. Key players profiled in the report include: BASF, Strem Chemicals and Others.
Drivers for the Global Metal-Organic Frameworks Market:
According to current market condition, the increasing disease burden across the world, the proven efficacy of controlled-release drug delivery systems in addressing a wide-range of diseases, and the growing R&D trends is expected to fuel the market growth. The upsurge in demand for unconventional energy sources is a key factor driving the market growth during the forecast period. Diminishing fossil fuel reserves and increasing energy security concerns are the major drivers for the underground gas storage market. Furthermore, the favorable governmental policies pertaining to low carbon content as compared to coal are expected to propel the market growth over the future years.
Opportunities for the Global Metal-Organic Frameworks Market:
Asia-Pacific is expected to display rapid growth due to high domestic demand from end-use industries in countries such as India and China. The availability of low cost labor along with decreasing coal reserves is expected to propel the usage of natural gas in end-use industries such as steel and petrochemicals in emerging countries. The growth of industrial sector along with high per capita income in regions such as Thailand and Vietnam is expected to fuel the demand in this region.
Restrains for the Global Metal-Organic Frameworks Market:
Regardless of the positive outlook for the industry, the sector continues to face numerous restraints as every coin has two sides. When MOFs are used for certain applications, their framework integrity must be guaranteed to maintain their intended functionalities and characteristics. The instability of many MOFs in water or other harsh conditions is expected to hinder their further application and commercialization.
Region Wise, Global Metal-Organic Frameworks Market Analysis:
Region wise, global metal-organic frameworks market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, Asia Pacific leads the global metal-organic frameworks market share due to high domestic demand from end-use industries in countries such as India and China. Asia pacific region which is followed by the North America and Europe.
Global Metal-Organic Frameworks Market: Product analysis
- Zinc-Based Type
- Copper-Based Type
- Iron-Based Type
- Aluminum-Based Type
Global Metal-Organic Frameworks Market: Application analysis
- Gas Storage
- Adsorption Separation
Global Metal-Organic Frameworks Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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