Transparency Market Research

Metal Organic Framework Market an Insight on the Important Factors & Trends Influencing the Market: 2024


Albany, NY -- (SBWIRE) -- 03/07/2018 -- Metal Organic Frameworks (MOFs), also called Porous Coordination Polymers (PCPs) or coordination networks, are crystalline materials which can be readily self-assembled from metal ions or metal clusters with organic ligands. They display permanent porosity with enormous internal surface area and large structural diversity, and hence, lead to a wide spectrum of applications such as gas capture and storage, molecule separations, ion-exchange, drug delivery, sensing, catalysis, and luminescence. MOFs are crystalline hybrid materials created from both organic and inorganic molecules via molecular self-assembly. Recently, MOFs have been processed into porous fabrics, glass, flexible thin films, and biocompatible membranes. The unique physical and chemical characteristics of MOFs make them suitable to be utilized for drug storage, drug delivery, nitric oxide storage & delivery, imaging, and sensing.

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Changing preference by emerging economies toward renewable energy is leading to the increase in demand of MOFs for manufacturing hydrogen fuel cells, which in turn is driving the MOFs market. Properties such as special structure and large surface area, make MOF suitable to be employed for alternative systems for gas and energy storage (e.g. carbon dioxide and hydrogen storage). Wide usage in catalysis, chemical sensing, as nano reactors, make them ideal to be used for both university research and industry. Increasing applications in the fields of solar and membrane technology, sensor systems, diagnostics, and chemical process engineering make them viable to be utilized in large numbers. Recent developments in biomedical industries in areas such as drug storage, drug delivery, imaging, and sensing are also driving the MOFs market.

Issues in biomedical applications such as instability, toxicology, and biocompatibility are hampering the MOFs market. Factors such as a lack of large-scale production and availability of cost-effective substitutes are some factors that are restraining the market. However, the MOFs market has witnessed numerous growth opportunities over the last few years and is estimated to expand at a considerable rate during the forecast period.

Based on product type, the MOFs market is segmented into zinc-based organic frames, copper-based organic frames, iron-based organic frames, aluminum-based organic frames, and magnesium-based organic frames.

In terms of application, the MOFs market is segmented into gas capture and storage, molecule separations, ion-exchange, drug delivery, sensing, catalysis, and luminescence. Properties such as permanent porosity, considerable surface area, and large structural diversity make them ideal for drug delivery and molecule separation.

In terms of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market in China and India is expanding at a significant pace due to increasing demand for MOF's from pharmaceutical industry. The market in North America is expanding at a rapidly due to advancements in R&D technologies. Europe is also witnessing significant demand for MOF's market due to the undergoing research work in the field of clean energy and hydrogen fuel cells.

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Key players operating in the MOFs market include Merck (Sigma-Aldrich), BASF SE, MOFapps, and Strem Chemicals.