Metal Organic Frameworks Market: Current Analysis and Forecast (2024-2032)

The Metal Organic Frameworks Market is witnessing a robust growth rate of 15.13% within the forecast period. This growth can mainly be attributed to the increased need for advanced materials in applications such as gas storage, separation, catalysis and drug delivery, as well as the growing demand for green and efficient technologies in environmental and industrial applications.

Metal Organic Frameworks (MOFs) are a class of porous crystalline materials made of metal ions tethered by organic strands and exhibit very high surface areas and properties that can be tailored. Storage, separation, and conversion of various molecules has become possible with these frameworks, thus leading to their growing applications in many sectors. For example, in October 2023, BASF becomes the first company to successfully produce metal-organic frameworks on a commercial scale for carbon capture. Collaborating with Svante will be instrumental in the mitigation of greenhouse gases in industries such as hydrogen, pulp and paper, cement, steel, aluminum and chemicals.

Moreover, the rapid use of MOFs to store and separate gases such as hydrogen, methane and carbon dioxide plays a significant role in nurturing the growth of the market. Increased decarbonization policies and clean energy strategies put in place by many countries have made clean energy a great market for MOFs particularly in carbon capture and hydrogen storage systems. Catalyst applications in chemical reactions and enhanced used in batteries and supercapacitors are additional uses of stimulant organic frameworks.

Based on type, the metal organic frameworks market is segmented into zinc-based, copper-based, iron-based, aluminum-based, and chromium-based. The copper-based segment dominated the market in 2023 and is expected to dominate in the forecast period. The primary development is driven by the extensive thermal stability, remarkable adsorption capacity, and availability in several areas such as gas storage, catalysis, and carbon dioxide sequestration among others. Copper-based MOFs are among one of the modern clean energy sources due to their effective application in the absorbing of CO2 and other gases. Their attractive framework provides an application in catalysis and even drug delivery systems. For example, in 2024, a copper-contained MOF that can transform CO2 into chemical products was developed by researchers from the University of Cambridge underlining the capability of such structures in alleviating anthropogenic emission of greenhouse gases. As an added factor, Global initiatives to mitigate the environmental impacts of Climate change such as the Paris Agreement or even the Kigali amendment are motivating corporations to use copper-based MOFs for CO2 storage. Their ability to separate and capture scrap gases makes them essential in the process towards the emission reduction strategy.

Based on application, the market is segmented into gas storage, gas & liquid adsorption, drug delivery, catalysis, sensing, and luminescence. The gas storage segment generated the most significant revenue in 2023 in the metal organic frameworks market and is expected to continue in the same fashion in the forecast period. The shift in focus from liquids to gases is a major factor contributing to the growth of the market as there is an increasing need for effective, small and clean storage solutions for gases like hydrogen, methane and carbon dioxide. Exceptional features of MOFs like very high surface area, adjustable porosity and high adsorption, make MOFs an appropriate material for gas storage applications in clean energy, industrial manufacturing, transportation, and other sectors. Besides, the global shift towards adoption of cleaner sources of energy that includes energy from hydrogen is also carrying a tremendous need for better storage systems. MOFs allow storage of hydrogen at much higher densities and lower pressures, taking away the limitations imposed by traditional gas storage methods. For instance, in November 2023, Numat Technologies Inc, a world's leading MOF producer built the first ever industrial scale manufacturing facility for manufacture of MOFs. The new facility is set to be ready for operation in Spring, 2024 and will harness state of art technology in its processes to quicken the time taken in launching new products into the market and mass production of MOF borne products. Furthermore, the increasing use of hydrogen fueled vehicles has also increased the requirement for MOF gas storage systems.

For a better understanding of the market of the metal organic frameworks market, the market is analyzed based on its worldwide presence in countries such as North America (The US, Canada, and Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The Asia Pacific metal organic frameworks market is expected to dominate in the forecast period. One of the reasons for the Asia-Pacific region being the leader of the market is the fact that it has a very strong industrial base which is on the rise, the governments support these countries in tapping into the clean energy source due to their willingness in investing quite a lot in R&D. Countries such as China, Japan and South Korea are major players in enhancing the market by means of technology and implementation in such areas among others as gas storage, catalysis and environmental management. The growth of industrial base in Asia-Pacific regions, more so in China and India, has also increased the use of MOFs in gas storage and catalysis applications. The ever-growing manufacturing and transportation sectors in these nations have also incorporated MOFs to achieve sustainability purposes and improved effectiveness. The Asia-Pacific countries are also making significant investments in carbon reduction technologies, with a focus on renewable energy, in which MOFs are important for applications such as hydrogen storage, carbon capture and gas separation. In May 2024, the government of China unveiled another redaction of a two-year action plan on energy saving and restraining of carbon emissions until 2025. This strategy had the objective of reinforcing the measures on energy saving and carbon emissions reduction as China enters towards the final year of the implementation of the 14th Five-Year Plan period (2021-2025). Also, within the region, several higher institutions of learning and private entities are involved in active materials science research as it concerns development of new MOF technologies, therefore making this region the most active in this area globally. This made the region concentrate on the innovative synthesis and application of MOFs thereby integrating themselves among the leaders of the market.

Some of the major players operating in the market include BASF, novoMOF, Ascensus, MOFapps, Nanorh, framergy, Inc., NuMat Technologies, Inc., Svante Technologies Inc., Promethean Particles, and Immaterial Ltd.