Metal-Organic Frameworks: Pioneering Market Trends in 2024

"The Business Research Company recently released a comprehensive report on the Global Metal-Organic Framework Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The metal-organic framework market size has grown exponentially in recent years. It will grow from $0.37 billion in 2023 to $0.49 billion in 2024 at a compound annual growth rate (CAGR) of 31.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in usage of smartphones, technological developments in metal-organic frameworks and increase in demand for clean energy.

The metal-organic framework market size is expected to see exponential growth in the next few years. It will grow to $1.25 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%. The growth in the forecast period can be attributed to increasing government support, increase in gas storage capacities, increasing use of electronics and rising urbanization. Major trends in the forecast period include focus on specialized mof materials for several applications, use of artificial intelligence (ai) in the discovery and identification of different metal-organic frameworks, focus on developing new metal-organic frameworks for improving efficiency and operations across different areas of application, focus on increasing investments to expand technological capabilities and focus on strategic partnerships and collaborations.

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Market Drivers and Trends:

The growing production of industrial gases for different applications is expected to propel the growth of the metal-organic framework market. Industrial gases are gases 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 gas 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 growth of the metal-organic framework market.

Stakeholders in the metal-organic framework market are focusing on the usage of artificial intelligence (AI) in the discovery and identification of different metal-organic frameworks. There is an increasing amount of experimental and theoretical MOF structural data. The design of MOFs using machine learning (ML) is used to identify target MOF structures in silico speeding up the MOF discovery cycle. For example, in 2021, researchers at the University of Toronto, a public research university in Canada and Northwestern University, a US-based private research university, built an automated materials discovery platform that generates the design of various molecular frameworks, which significantly reduces the time required to identify the optimal materials for use. The system uses machine learning algorithms to learn from the data as it analyses materials and suggests new materials that were not originally imagined. A large number of MOF structures are constructed on the computer and their performance is simulated using molecular-level modeling. A training pool applicable to the chosen application of MOF is then created for quicker material discovery.

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Major Key Players of the Market:

Ferretti S.p.A, Azimut Benetti SpA, Sanlorenzo S.p.a, Feadship, Princess Yachts Limited,Fr. Lürssen Werft GmbH & Co.KG, Italian Sea Group, Fincantieri S.p.A., Sunseeker International, Brunswick Corporation, Maritimo Factory, A H Wadia Boat Builders, XS Marines, New Japan Yacht Co, GHI Yachts, Hyundai Yachts Co., Ltd, Riviera Australia Pty. Ltd, Australian Superyachts Pty Ltd, HeySea Yachts, Horizon Yacht, Cheoy Lee Shipyards Ltd, Changzhou Baote Yacht Co., Ltd, Fujian Yihong Yacht Corp, Hunan Blue Point Supply Chain Co., Ltd, Burgess Yachts, Damen Yachting, Arksen, U-Boat Worx, AB Yachts, Groupe Beneteau, Alva Yachts, Timeless Yachts, Hatteras Yachts, Westport Yachts, YMCA Yachting, Christensen Shipyards, Ocean Alexander, Alexander Marine USA, Viking Yacht Company, Quantum Sails, Michael Rybovich & Sons Boatworks, Burger Boat Company, MCP Yachts, Sterling Yachts, Fibrafort Shipyard, Delta Yachts, Flexboat Construções Náuticas Ltda., Schaefer Yachts, AS Marine, Oryx Yachts, Majesty Yachts, Nomad Yachts, Moonday Yachts, Yerliyurt Marin, Numarine, Robertson & Caine, Falcon Inflatables, Dean Catamarans, Almaroon, De Birs Yachts, Tiger Marine

Metal-Organic Framework Market 2024 Key Insights:

• The metal-organic framework market size is expected to see exponential growth in the next few years. It will grow to $1.25 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%.
• Industrial Gas Production Surge Propels Growth In Metal-Organic Framework Market
• Utilizing Artificial Intelligence For Accelerated Metal-Organic Framework Discovery And Design
• North America was the largest region in the metal-organic framework (MOF) market in 2023

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