Selbyville, Delaware,, April 18, 2023 (GLOBE NEWSWIRE) --
The metal organic frameworks market valuation is estimated to cross USD 27.3 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing usage of smartphones and consumables will favor the metal organic frameworks industry growth. Electronics production worldwide has crossed leaps and bounds in recent years, mainly owing to an increased government emphasis on enhancing the in-house productivity of electronic hardware and software components.
According to the Indian Brand Equity Foundation (IBEF) Report, the government of India has earmarked an investment of nearly US$ 17 billion over 2021-2026 across four PLI Schemes: Smartphones, semiconductors and Design, IT Hardware, and Components. Besides, the Ministry of Electronics & Information Technology unleashed the Vision document on Electronics Manufacturing, which targets achieving US$ 300 billion worth of electronic manufacturing in the country by 2025-26. Such investments and initiatives will create a favorable growth outlook for the metal organic frameworks market. Due to their ability to selectively absorb gas molecules, MOFs can be effectively used as gas sensors.
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The Zinc-based product is poised to observe gains at nearly 15% up to 2032. Zinc (Zn) & its derivatives are used as metal clusters and organic ligands to create Zn-MOFs. Zn has emerged as a prime contender for the creation of MOFs for biological systems led by its inherent low-toxicity transition metal cations. The remarkable attributes associated with the product, in turn, will add to the popularity of zinc-based metal organic frameworks.
The microwave segment of metal organic frameworks market is anticipated to exceed USD 5 billion by 2032. In this method, Microwave (MW) radiation is used to supply energy to the reaction. Despite its extensive usage in organic syntheses, the technique finds widespread applications in the rapid synthesis of nano-porous materials, which will open new growth avenues for the MOF market.
The carbon capture segment is set to grow at a 13.5% CAGR from 2023 to 2032, attributed to the increasing usage of MOFs in a variety of carbon capture applications. MOFs are porous materials having a high surface area, tunable pore size, and chemical properties that can be tailored to capture & store carbon dioxide selectively. In addition, a noticeable rise in the number of R&D projects undertaken by government and private organizations will aid market demand.
Regionally, North America metal organic frameworks market size is predicted to reach USD 8.6 billion by 2032. North America is one of the largest and most established markets for MOFs. The region has a well-developed R&D infrastructure, with leading MOF manufacturers & suppliers based in the U.S. and Canada. The rising consumption of MOFs for usage in R&D centers and pharmaceuticals is slated to drive regional market value.
Key manufacturers operating in the metal organic frameworks business include companies such as BASF SE, Framergy Inc, Mosaic Materials, MOF Technologies, NuMat, CSIRO, Promethean Particles, MOF Apps, Prof MOF, and Novo MOF. These firms are consistently undertaking R&D initiatives and have been introducing new and advanced products to remain competitive in the metal organic frameworks market.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Global metal organic framework market 3600 synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Synthetic method trends
2.1.5 Application trends
Chapter 3 Global Metal Organic Framework Industry Insights
3.1 Industry ecosystem analysis
3.2 Raw material analysis
3.3 Regulatory landscape
3.4 Technology landscape
3.5 Innovation landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Growth potential analysis
3.8 Pricing analysis
3.9 Cost structure analysis
3.10 COVID-19 impact on pricing.
3.11 Porter’s analysis
3.12 PESTLE analysis
3.13 COVID-19 impact on the metal organic frameworks market
3.14 Impacts of the Russia-Ukraine war on the industry
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
