The Business Research Company’s Metal-Organic Framework Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, May 2, 2022 /EINPresswire.com/ — Technological advancement in material science is an emerging trend shaping the metal-organic framework market outlook. MOFs are a new class of crystalline materials that are porous and can capture compounds in their molecular cavities. Some MOFs can be transformed into glass by cooling their liquid state. For example, some liquid and glass metal-organic framework market can exhibit properties of luminescence that demonstrate porosity, ion conductivity, and optical properties. They can also store heat in energy devices for gas permeation. For instance, in August 2020, EnergyX and ProfMOF had entered a partnership to promote the use of MOFs. Both the companies are looking for ways to implement nanotechnology materials that are suitable in the development of projects involving renewable energy and large-scale lithium-ion production and battery storage.
The global metal-organic framework market size is expected to grow from $222.30 million in 2021 to $304.75 million in 2022 at a compound annual growth rate (CAGR) of 37.1%. The global MOFs market size is expected to grow to $742.49 million in 2026 at a CAGR of 24.9%.
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The growing production of industrial gases for different applications is expected to propel the growth of the global metal-organic framework market. Industrial gases are gasses that are at room temperature and pressure such as oxygen, hydrogen, and nitrogen, and they are used in various industrial applications such as in the production of chemicals, power, medicine, electronics, aerospace, and food. MOFs are used for industrial gas storage and separation along with catalysis. According to Entrepreneur India, the Indian industrial gases market is expected to surpass $3.9 billion in the year 2023 because of the growing demand for the metal industry. Therefore, the increasing production of industrial gasses for different applications drives the metal-organic framework industry growth.
In April 2021, Ascensus Specialties LLC, a US-based chemical company acquired Strem Chemicals, Inc. for an undisclosed amount. Strem Chemicals Inc. is a company that specializes in MOFs and Ligands for MOF Synthesis. Through this acquisition, Ascensus Specialties LLC further amplifies its new product and application development efforts. Strem Chemicals, Inc. is a US-based chemicals company that manufactures offers MOF products.
Major players covered in the global metal-organic framework market are BASF SE, GS Alliance Co. Ltd, MOF Technologies Ltd, MOFWORX, Mosaic materials LLC, Nanoshel LLC, novoMOF AG, Numat Technologies Inc, ProfMOF, and Promethean Particles Ltd.
TBRC’s global metal-organic framework market analysis report is segmented by product type into zinc-based, copper-based, iron-based, aluminium-based, magnesium-based, by application into gas storage, gas and liquid adsorption, catalysis, drug delivery, by end-user into construction, manufacturing, others.
Metal-Organic Framework Global Market Report 2022 – By Product Type (Zinc-Based, Copper-Based, Iron-Based, Aluminium-Based, Magnesium-Based), By Application (Gas Storage, Gas and Liquid Adsorption, Catalysis, Drug Delivery), By End-User (Construction, Manufacturing, Other End-Users) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a metal-organic framework market overview, forecast metal-organic framework market size and growth for the whole market, metal-organic framework market segments, geographies, metal-organic framework market trends, metal-organic framework market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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originally published at Global News - Social Gov
The post Advancements In Technology Drive Metal-Organic Framework Market Growth At 37% Rate first appeared on Euro-News.