Metal Organic Framework (MOF) Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the Metal Organic Framework market was valued at USD 8.9 billion in 2022, and a CAGR of 13.4% is expected during the forecast period. MOFs are a class of crystalline material made up of metal ions coordinated to organic ligands, forming porous structures. These have unique properties, which make them highly suitable for various applications. Increasing demand for hydrogen storage and carbon capture and storage is driving growth in the market significantly.

Increasing emphasis on reducing carbon emissions and their ability to store hydrogen efficiently is the reason behind the growth in the market significantly. MOFs are increasingly used as catalysts in chemical reactions due to their tunable porosity and high surface area. This application is significant in petrochemical refining. MOFs are used in the removal of heavy metals, dyes, and other pollutants from water, driven by growing concern over water pollution. It is also used in air filters for air purification.

 Growth Drivers

Continuous research and development have led to the development of new MOF structures with enhanced properties, making them more effective in various applications and broadening their use across industries. Increased collaboration between research organizations, academic institutions, and industries, along with substantial government and private funding, is accelerating the commercialization of MOFs. MOFs are being explored as materials for improving energy storage devices, such as batteries and super capacitors, due to their ability to enhance charge capacity and stability, which is driving growth in the market. Increasing demand for MOFs as carriers for control drug deliveries due to their biocompatibility and ability to encapsulate drugs effectively.

Increasing demand for MOFs in biomedical imaging and sensing technologies is driven by their unique optical and electronic properties. Supportive regulations and policies promoting the development of sustainable and clean technologies are fostering the growth in the MOF market. Increasing demand for clean energy, increasing growth in pharmaceutical sectors, and increasing demand in the electronics sector are fueling the growth in the market. Increasing demand for MOF in gas separation, purification, and catalysis is driving growth in the market significantly.

 Segmentation

By Product Type

·         Aluminum Based

·         Copper Based

·         Iron Based

·         Zinc Based

·         Magnesium Based

·         Others

By Synthetic Method

·         Hydro Thermal

·         Microwave

·         Ultrasonic

·         Mechanochemical

·         Electrochemical

·         Others

By Application

·         Gas Separation, and Purification

·         Catalyst

·         Gas Storage

·         Drug Delivery

·         Carbon Capture

·         Atmospheric Water

·         Other

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

MOF Market by Product Type Segmentation

On the basis of the type, the MOF market is segmented into aluminum-based, copper-based, zinc-based, magnesium-based, iron-based, and others. Zinc-based MOFs are a leading segment and are expected to dominate the market during the forecast period because zinc is widely used due to its versatility, stability, and relatively low cost, making it popular in various applications, including gas drug delivery. Zinc has a flexible coordination chemistry, allowing it to form a wide variety of MOF structures. This versatility enables the creation of MOFs with different pore sizes, shapes, and chemical functionalities, making them suitable for a broad range of applications.

Zinc-based MOFs are relatively easier to synthesize compared to those based on other metals. The synthesis process is less sensitive to reaction conditions, which contributes to their widespread use in research and industry. Zinc is abundant and cheap in cost. Zinc-based MOF is cost-effective. Increasing demand for zinc-based MOF in various applications, including gas storage, catalysis, and gas separation, is driving demand for MOF in the market significantly. Some of the most extensively studied MOFs are zinc-based. MOFs are being explored as materials for improving energy storage devices, such as batteries and supercapacitors, due to their ability to enhance charge capacity and stability, which is driving growth in the market.

 MOF Market by Application Segmentation

On the basis of the application, the MOF market is segmented into gas separation and storage, purification, catalysis, and drug storage, drug delivery, carbon capture, and atmospheric water. Catalysis is one of the most important segments and is expected to dominate the market during the forecast period due to its ability to enhance the rate of chemical reaction. Due to their structural diversity, MOFs are used as efficient catalysts. Drug storage and delivery is also an important segment, but MOFs in this endeavor are still in the research and development phase. Gas separation and storage is an important segment that is fast developing due to their large surface areas, tunable pore sizes, and high porosity, making them effective in capturing and storing various gases.

 Regional Outlook

 On the basis of the regions, the MOF market is segmented into 5 types: Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. Asia Pacific is the leading segment and is expected to dominate the market during the forecast period due to the region’s burgeoning industrialization and urbanization. Increasing disposable income and escalating environmental concerns are driving growth in the market significantly.

The presence of major key players in North America and Europe is the key factor behind the significant growth in the market. Both North America and Europe host some of the world’s leading universities and research institutions, which are at the forefront of MOF research. This strong R&D infrastructure facilitates the development of new MOF structures and applications. Significant investment in both the government and private sectors in these regions drives innovation in MOF technologies. Funding is often directed towards clean energy.

North America and Europe have both chemical and petrochemical industries, which are well-established and major consumers of MOF, particularly for catalysis, gas storage, and separation processes. Advanced pharmaceutical and biomedical industries in these regions are increasingly adopting MOFs for drug delivery, imaging, and sensing applications. Strong emphasis on sustainable practices and green technologies in North America and Europe MOFs, with their potential for energy-efficient solutions and environmental remediation. Governments in both regions provide incentives and support for the development and adoption of clean energy technologies. MOFs are being utilized, explored, and utilized in hydrogen storage. 

  Key Players

·         BASF SE

·         MOF Apps

·         Prof MOF

·         Novo MOF

·         Mosaic Materials

·         Framergy Inc

·         CSIRO

·         NuMat

·         MOF Technologies

·         Other Players