Month: November 2024

Delray Beach, FL, Nov. 01, 2024 (GLOBE NEWSWIRE) — The Metal Organic Frameworks Market is projected to grow from USD 0.51 billion in 2024 to USD 1.70 billion by 2030, at a CAGR of 22.1% during the forecast period, as per the recent study by MarketsandMarkets. The growth of metal organic frameworks is driven by several factors. Rising demand for efficient gas storage solutions and increasing shift towards clean energy is driving the adoption of metal organic frameworks in several industries. Metal organic frameworks finds its uses in gas adsorption, gas separation, sensing & detection, catalysis, and water harvesting applications due to its unique properties such as high porosity, larger surface area, structural diversity, and tunable pore size. Emergence of artificial intelligence and machine learning for identifying and selecting perfect metal organic frameworks for various applications is likely to boost the demand for metal organic frameworks market.

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Browse in-depth TOC on “Metal Organic Frameworks Market”

196 – Market Data Tables
51 – Figures
215 – Pages

List of Key Players in Metal Organic Frameworks Market:

1. Nanorh (US)
2. Framergy, Inc. (US)
3. novoMOF (Switzerland)
4. BASF SE (Germany)
5. Numat Technologies, Inc. (US)
6. MOFapps (Norway)
7. Nuada (UK)
8. ProfMOF (Norway)
9. ACSYNAM (Canada)
10. Promethean Particles Ltd. (UK), ACMOFS (China), GS Alliance Co., Ltd. (Japan), Physical Sciences Inc. (US), Majd Onsor Fartak (Iran), SyncMOF Inc. (Japan), Immaterial Ltd. (UK), Atomis Inc. (Japan), CD Bioparticles (US), Nanowiz Tech (India), Kerone Engineering Solutions Ltd. (India), Nanoshel LLC (US), Jiangsu Xianfeng Nanomaterial Technology Co., Ltd. (China), Decarbontek, Inc. (US), Svante Technologies Inc. (Canada), Nanochemazone (India)

Drivers, Restraints, Opportunities and Challenges in Metal Organic Frameworks Market:

1. Driver: Growing demand for metal organic frameworks to curb down carbon emissions
2. Restraint: High cost of metal organic frameworks
3. Opportunity: Growing investments in green hydrogen projects to boost the market
4. Challenge: Toxicity concerns in metal organic frameworks

Key Findings of the Study:

1. Copper-based metal organic frameworks accounted for the largest market share, both in terms of value and volume.
2. Mechanochemical synthesis method accounted for the second largest market share, both in terms of value and volume
3. Gas storage application segment is estimated to account for the highest market share in 2023, in metal organic frameworks market.
4. Europe to hold the largest market share during the forecast period.

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Based on type, Zinc-based segment is expected to have the second largest share of the metal organic frameworks market in 2023 by value. Zinc-based metal organic frameworks are majorly used in biomedical applications including drug delivery due to their versatility, lower toxicity, and being easily biodegradable. Key factors driving their use for gas adsorption and gas storage applications is due to their improved storage and control over reaction ability between gas molecules and components. Additionally, copper-based metal organic frameworks hold the largest share in the metal organic frameworks market due to their growing demand for gas adsorption, gas storage, catalysis, and sensing & detection applications.

Based on synthesis method, Mechanochemical segment is expected to have the second largest share of the metal organic frameworks market in 2023 by value. The mechanochemical synthesis method is widely used for the preparation of metal organic frameworks due to its shorter reaction time, cost effectiveness and environmentally friendly synthesis. It offers several advantages, including higher yields, product purity, and availability of reactants and products that are difficult to encounter in conventional solution-based synthesis. Metal organic frameworks prepared by mechanosynthesis are used for gas separation and carbon capture applications.

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Based on application, the metal organic frameworks market has been segmented into gas and liquid adsorption/separation, water harvesting, gas storage, sensing & detection, catalysis, and other applications. Metal organic frameworks is widely used for gas and liquid adsorption/separation application due to its larger surface area, highly porous structure, and high selectivity. Gas and liquid adsorption/separation holds the second largest share of the metal organic frameworks market in 2023 by value.

Based on Region, North America was the third largest market for the metal organic frameworks in 2023, with US being the largest market in the region. The North American metal organic frameworks market is experiencing significant growth and presents various opportunities for industry players. This growth is fuelled by the increasing demand for efficient gas storage solutions. Strong research and development initiatives and growing focus towards clean energy solutions is driving the demand for metal organic frameworks in this region.

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The U.S. economy experienced almost no job growth in October as the pace of employment creation slowed to its lowest level since December 2020, according to the official jobs report released Friday.

This downturn likely reflects the impact of hurricane disruptions, strikes in manufacturing and election-related uncertainties, all of which affected hiring nationwide.

Total nonfarm payrolls grew by only 12,000 last month, a sharp decline from the average monthly gain of 194,000 over the previous year.

Despite the hiring freeze, the unemployment rate held steady at 4.1%, suggesting that businesses are retaining their existing workforce even as new job creation stalls.

October Employment Situation: Key Highlights

• Nonfarm payrolls rose by 12,000, sharply decelerating from the previous downwardly revised 223,000 and well below the expected 113,000 as per TradingEconomics estimates.
• “Employment continued to trend up in health care and government. Temporary help services lost jobs. Employment declined in manufacturing due to strike activity,” the Bureau of Labor Statistics wrote in the report.
• Private payrolls contracted by 28,000, weighed down by 46,000 layoffs in manufacturing.
• Government sector employment rose by 40,000 in October, close to the monthly average gain of 43,000 over the past year.
• Total nonfarm payroll employment was revised down by 81,000 for August, from an initial estimate of 159,000, and by 31,000 for September, from 254,000, totaling 112,000 fewer jobs than previously reported.
• The unemployment rate stood at 4.1%, as expected.
• Average hourly earnings advanced at a 0.4% monthly pace, accelerating from September’s downwardly revised 0.3% increase and surpassing expectations of 0.3%.
• On an annual basis, wages rose 4%, as predicted, up from September’s 3.9% rate.

Stocks Rally As Fed Rate-Cut Expectations Soar

Following the release of the October jobs report, futures on major U.S. equity indices rallied, driven by increased expectations of Federal Reserve rate cuts.

Contracts on the S&P 500 and Nasdaq 100 both rose by 0.5%, while Russell 2000 futures surged 0.8%. This rebound comes after the SPDR S&P 500 ETF Trust SPY closed 1.9% lower on Thursday, marking its steepest one-day decline since early September and ending a five-month winning streak.

The disappointing jobs data led markets to fully price in a 25-basis-point rate cut at the Fed’s upcoming meeting on November 7, according to the CME FedWatch Tool. Additionally, the probability of another quarter-point cut in December increased to 86%, up from 75% previously.

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Photo: National Oceanic and Atmospheric Adminstration (NOAA).

A hiring freeze in October lifted market expectations for a Federal Reserve interest rate cuts, providing relief to U.S. stocks after Thursday’s decline.

The U.S. economy added only 12,000 jobs in October, 211,000 fewer than in September. This marked the lowest monthly pace since December 2020 and sharply missed estimates of 113,000.

Market pricing now reflects a full probability of a 25-basis-point rate cut at next week’s Federal Reserve meeting, with the likelihood of another cut in December surging to 85%, according to the CME FedWatch tool.

Hurricanes, Strikes Knock October Employment Down

Beyond the dismal October employment figures, which suggest a recession-like scenario, factors such as hurricanes and strikes have significantly disrupted hiring across the nation.

Hurricane Helene hit Florida’s Gulf Coast on Sept. 26, followed by Hurricane Milton on Oct. 9, prompting widespread evacuations and disrupting multiple economic sectors.

“It is likely that payroll employment estimates in some industries were affected by the hurricanes; however, it is not possible to quantify the net effect on the over-the-month change in national employment, hours, or earnings estimates,” the Bureau of Labor Statistics (BLS) stated in its report.

Additionally, layoffs surged in manufacturing, rising to 46,000 — the highest since 2009, excluding the pandemic months of March and April 2020. “Manufacturing employment decreased by 46,000 in October, reflecting a decline of 44,000 in transportation equipment manufacturing largely due to strike activity,” the BLS added.

Despite stagnant job growth in October, the unemployment rate held steady at 4.1%, indicating that businesses remain committed to retaining their workforce.

Equity ETFs Rise On Rising Rate-Cut Bets

• The SPDR S&P 500 ETF Trust SPY, tracking the S&P 500 index, rebounded 0.7% after Thursday’s 1.9% slump.
• The tech-heavy Invesco QQQ Trust QQQ, replicating the Nasdaq 100, was 0.6% higher.
• Small caps outperformed, with the iShares Russell 2000 ETF IWM soaring 1.2%.
• The Roundhill Magnificent Seven ETF MAGS rose 1.4%. On Thursday, it tumbled 3.9%, marking the sharpest 1-day drop since late July.
• Sector-wise, the Consumer Discretionary Select Sector SPDR Fund XLY led gains, up over 2%, fueled by a 6% post-earnings rally from Amazon.com Inc. AMZN.
• The Direxion Daily AMZN Bull 2X Shares AMZU skyrocketed by 13%.
• Rising expectations for Fed rate cuts fueled gains in real estate industries, with the iShares U.S. Home Construction ETF ITB rising 1.8%.
• Semiconductors rebounded after tumbling by 3.9% on Thursday. The iShares Semiconductor ETF SOXX rose 1.6%. Intel Corp. INTC was among the best performers following better-than-expected results.
• The SPDR Gold Trust GLD – the biggest physically-backed gold ETF – also rose 0.5%, rebounding after Thursday’s 1.6% decline.
• The United States Oil Fund USO, which tracks West Texas Intermediate (WTI) crude performance, gained 1% amid rising geopolitical tensions in the Middle East following Iran’s retaliatory attack on Israel.

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VICTORIA, British Columbia, Nov. 01, 2024 (GLOBE NEWSWIRE) — According to BC Check-Up: Work, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on labour market trends across the province, there were 243,200 Greater Victoria residents working in September 2024, up 6.2 per cent from one year earlier.

“We saw some of the strongest employment growth in the province over the past year,” said Simon Philp, FCPA, FCMA, Market Vice President at CIBC. “It’s good to see that resilience at the local level, especially when the B.C. labour market as a whole has shown some weakness.”

Greater Victoria’s unemployment rate fell slightly to 3.9 per cent in September 2024 and was the third lowest among all census metropolitan areas in Canada. The labour force participation rate—the proportion of the working-age population who were either working or looking for work—was 67.2 per cent, up 4.3 percentage points in the two years since September 2022.

“Unemployment and labour force participation have been trending in the right direction for two years now,” noted Philp. “It’s been challenging given the higher interest rate environment, but we are starting to get some relief on that front.”

Employment in the goods sector increased by 6,200 workers (+23.1 per cent) between September 2023 and September 2024. Meanwhile, the services sector also added workers during the year, led by the information, culture, and recreation industry, where employment increased by 6,100 workers (+79.2 per cent).

“This year’s growth was driven by industries not usually seen as major employers in Greater Victoria,” noted Philp. “It’s a great reminder of the diverse opportunities available, which contributes to economic stability in the area.”

To learn more, see www.bccheckup.com.

About CPA British Columbia

The Chartered Professional Accountants of British Columbia (CPABC) is the training, governing, and regulatory body for over 40,000 CPA members and 6,000 CPA candidates and students. CPABC carries out its primary mission to protect the public by enforcing the highest professional and ethical standards and contributing to the advancement of public policy.

CPABC Media Contact:
Jack Blackwell, Economist
604.259.1143
news@bccpa.ca