May 7, 2020
Metal-organic Framework Market Sales, Share, Growth and Forecast 2027
Metal-organic Framework Market: Introduction
- In terms of value, the global metal-organic framework market is anticipated to expand at a CAGR of ~11% from 2019 to 2027
- Metal-organic framework is a class of porous materials constructed from metal-rich inorganic nodes bonded with organic linkers. The structure provides high density of three-dimensional porous cores with a large surface area, uniform cross-linkages, and tunable porosity. Metal-organic framework possesses excellent absorption rate for hydrogen, water, carbon dioxide, and water. These key properties significantly impact its commercial applications in various end-use industries.
- Metal-organic framework is likely to be used widely in key applications such as solar, catalysis, carbon absorption, gas storage, wastewater treatment, drug delivery, and biomedical. Over the last decade, extensive R&D and publication activities have been conducted in metal-organic framework by research organizations and public sector agencies, due to its excellent molecular benefits.
- Consumption of metal-organic framework in the U.S., Japan, China, and South Korea is projected to increase significantly during the forecast period. In terms of volume, North America and Asia Pacific were the leading regions of the global metal-organic framework market in 2018. Currently, consumption of metal-organic framework is in the nascent stage; however, it is expected to rise significantly during the forecast period.
High Demand for Hydrogen Gas in Metal-organic Framework Market
- End-use industries have been compelled to reduce carbon emission due to global warming. However, high demand for energy in residential and commercial sectors is fueling carbon emission across the globe.
- According to the International Energy Agency, 2018 witnessed highest carbon emission, i.e. more than ~37 billion tons, in several countries around the globe. Rise in carbon emission has led to an increase in demand for pollution-reducing technologies, materials, and systems that can absorb carbon dioxide effectively.
- Metal-organic framework possesses superior quality of absorption of hydrogen, carbon dioxide, hydrogen, and methane, due to its large surface area and high porosity properties. Growth in demand for materials that lower carbon emission in industries is estimated to propel the metal-organic framework market during the forecast period.
Lack of Commercialization to Hamper Market
- Large numbers of universities, commercial research centers, material scientists, and researchers across the globe are conducting extensive R&D activities in metal-organic framework. Metal-organic framework is still seeking validation for commercial usage in key industries such as industrial gases, petrochemical, energy & power, oil & gas, chemical, and pharmaceutical. This is projected to hamper the metal-organic framework market during the forecast period.
- The manufacturing process of the metal-organic framework is expensive, due to the need for advanced machinery for precise production output. Very few players produce metal-organic framework on a large scale, owing to its limited consumption. The price of one gram of metal-organic framework is quite high. This is likely to adversely affect the global market during the forecast period.
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Metal-organic Framework Market: Competition Landscape
The metal-organic framework market is fragmented, owing to the presence of several large and small manufacturers. Companies are focusing on strategic collaborations and partnerships with key end-use industries in order to increase their customer base. Prominent manufacturers operating in the global metal-organic framework market are:
- Strem Chemicals
- novoMOF AG
- ProfMOF
- MOFWORX
- Nanoshel LLC
- GS Alliance Co., Ltd.
- NanoResearch Elements Inc.
- ACSYNAM
- IMMATERIAL LABS LTD.
- Promethean Particles Ltd
- MOF Technologies Ltd
- Numat Technologies, Inc.
- Mosaic Materials LLC
- Mofgen Ltd
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