NEW YORK, Oct. 12, 2020 /PRNewswire/ -- Compound Annual Growth Rate of global metal-organic framework market, in terms of value, will be about 11% from 2019 to 2027. This will create new opportunities in the landscape and players will clamor to tap into these. The market worth is all set to improve – reach about USD 24 million by 2027
Transparency Market Research claims, "Numerous factors are helping the global metal-organic framework market stay buoyant over the forecast period. Its use in a number of commercial applications across industry verticals is a major growth propeller in the market. Some of these applications are gas storage, drug delivery, carbon absorption, and biomedical."
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Key Findings of Global Metal-organic Framework Market Study:
- As far as application is concerned, the gas storage segment has held a notable share in 2018 and the segment is expected to grow at a notable pace
- Under the category of type, the aluminum-based will emerge as an attractive segment over the forecast period and the copper-based will grow at a substantial rate
- Asia Pacific (APAC) region is set to record a noteworthy compound annual growth rate from 2019 to 2027
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Key Drivers of Growth in Global Metal-organic Framework Market:
Transparency Market Research has identified impactful trends and drivers that are set to propel the global metal-organic framework market forward. Some of the prominent ones are:
- Use in a number of applications help the global metal-organic framework market stay buoyant
- Large number of research and development (R&D) activities in the market landscape are contributing to growth
- Demand for substances that help mitigate carbon emissions is growing and that is set to propel the global metal-organic framework market on an upward growth trajectory
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Regional Analysis of Global Metal-organic Framework Market:
- Prominent share of the global metal-organic framework market would be held by the Asia Pacific region - particularly countries such as Japan, China, and India
- Leading position in the region will be held by China due to factors such as growing demand in a number of end-use industries for copper and iron-based frameworks
- In 2018, North America held a notable share in terms of volume and it is expected to grow at a CAGR of ~11% over the forecast period
- Presence of new players will enable growth in the North American metal-organic framework market
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Competitive Landscape of Global Metal-organic Framework Market:
Well-known players in the global metal-organic framework market include Strem Chemicals, novoMOF AG, ProfMOF, MOFWORX, Nanoshel LLC, GS Alliance Co., Ltd., NanoResearch Elements Inc., ACSYNAM, IMMATERIAL LABS LTD., Promethean Particles Ltd, MOF Technologies Ltd, Numat Technologies, Inc., Mosaic materials LLC, and Mofgen Ltd., among others. The vendor landscape of the market is fragmented.
In a detailed analysis of the competitors' landscape, Transparency Market Research has profiled top players and provided other crucial information such as recent developments and growth strategies opted. Major manufacturers in the global metal-organic framework market are trying a host of growth measures to improve their market position. It is pertinent to note here that geographic expansion hold a key place in the overall strategies.
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Global Metal-organic Framework Market: Segmentation
Metal-organic Framework Market, by Type
- Magnesium -based
- Others (including Titanium, Zirconium, and Nickel)
Metal-organic Framework Market, by Application
- Gas Storage
- Gas & Liquid Adsorption
- Drug Delivery
- Others (including Sensing and Luminescence)
Metal-organic Framework Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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