Metal Organic Frameworks Market Analysis

Metal Organic Frameworks Market Analysis

With respect to the product, the copper based segment is estimated to be worth USD 8.5 billion by 2032. MOFs made of copper find widespread usage in a variety of applications across several industry verticals attributed to their resource abundance, low cost, and nontoxicity. In addition, the increasing utilization of copper (Cu), a traditional transition metal in synthetic biology applications will open new growth avenues for the copper-based metal organic framework market.
 

Based on the synthetic method, the hydro(solvo)thermal segment is projected to register around 13.5% growth rate from 2023 to 2032. The term solvothermal synthesis refers to a chemical reaction that occurs in a solvent at a temperature higher than the solvent's boiling point in a sealed vessel. The hydrothermal approach enables the synthesis of several MOFs with 1D, 2D, and 3D structures and incorporates carboxylates, imidazole, alkaline earth metal ions, and transition metals which will favor metal organic frameworks market expansion.
 

MOFs find extensive utilization in numerous applications, including gas separation and purification, catalyst, gas storage, drug delivery, carbon capture, and atmospheric water. The gas storage segment is set to reach over USD 7.5 billion by 2032. MOFs (a family of porous coordination polymers) may find use in the storage of gases due to their extreme porosity and substantial internal surface areas. The escalating efforts of key product manufacturers toward issues associated with cost and stability to promote investments related to developing facilities used to treat pollution-associated gas will favor market growth.
 

Asia Pacific metal organic frameworks market is predicted to grow at about 13.5% CAGR between 2023 and 2032. The regional growth can be attributed to the positive outlook of the pharmaceutical industry and increasing investments in R&D and drug development projects. China is anticipated to accumulate a modest share in the regional industry due to the increasing demand for iron- & copper-based MOFs, which, in consequence, will create favorable growth prospects for the regional market in the coming years.