Material Informatics Market Size is valued at USD 125.1 Mn in 2023 and is predicted to reach USD 425.9 Mn by the year 2031 at a 16.6% CAGR during the forecast period for 2024-2031.
Materials informatics is a field that applies informatics ideas to materials science and engineering to improve material knowledge, utilization, selection, development, and discovery. This new field aims to achieve high-speed and reliable data capture, management, analysis, and dissemination of various materials data to substantially minimize the time and risk associated with creating, producing, and deploying new material data, which can take more than 20 years. There is an increasing desire for cost and time savings while producing novel materials. As a result, there is a growing demand for material informatics across a variety of industries, including chemical, material, and food science.
However, the expansion of COVID-19 at the beginning of 2020 has altered the operation and future scope of various industries, including material science and research. As the focus of research switched to the COVID-19 virus, other fields suffered. Furthermore, the halt in the manufacturing process, combined with the country lockdown, has badly impacted the research sector across numerous industries, impeding the growth of the material informatics industry.
Competitive Landscape
Some Major Key Players In The Material Informatics Market:
- io
- Alpine Electronics Inc.
- Phaseshift Technologies
- Nutonian Inc.
- Schrodinger
- Citrine Informatics
- Materials Zone Ltd.
- BASF
- Kebotix
- AI Materia
- Tilde Materials Informatics
- AI
- Nutonian Inc.
- MAT3RA
- MaterialsDesign
- Hitachi High-Tech
- Dassault Systems
- Alloyed
- Exponential Technologies (Xt)
- Innophore
- Intellegens
- Other prominent players
Market Segmentation:
The Material Informatics Market is segmented based on application, material type, and technique. according to application, the market is segmented as Chemical and Pharmaceuticals, Material Science, Manufacturing, Food Science, Energy, and Others. The material type segment includes Elements, Chemicals, and Others. By technique, the market is segmented into Digital Annealer, Deep Tensor, Statistical Analysis, and Genetic Algorithm.
Based On Material, The Chemicals Segment Is A Major Contributor To The Material Informatics Market
The Chemicals category is expected to hold a major share of the global Material Informatics Market in 2022. The expansion can be attributed to various sources, such as the chemical industry's continuous pursuit of innovative materials and chemicals to meet evolving consumer and industry needs. Material informatics uses modern computational approaches and data analytics to speed up the identification and optimization of new materials. Furthermore, the growing emphasis on sustainability and environmentally friendly solutions promotes demand for materials with improved environmental characteristics. Material informatics in the chemical sector allows for faster and more effective identification and development of these sustainable materials, adding to the chemical segment's expected rise in the material informatics market.
Material Science Segment Witnessed Growth At A Rapid Rate
The Material Science segment is projected to grow rapidly in the global Material Informatics Market due to various variables, including rising demand for sophisticated materials in industries such as automotive, aerospace, electronics, and healthcare. This demand drives the need for new materials with improved characteristics and performance. Advances in materials science research, such as nanotechnology and biomaterials, are creating new opportunities for developing innovative materials. Furthermore, the incorporation of material informatics, data science, and machine learning into materials research is hastening material discovery and optimization. These variables, taken together, contribute to the materials science segment's strong growth potential during the predicted period.
In The Region, The North America Material Informatics Market Holds A Significant Revenue Share
The North America Material Informatics Market is expected to record the maximum market revenue share in the near future. The dominance is attributed to many R&D initiatives aimed at discovering novel materials. Furthermore, the considerable expenditure required to carry out these tasks drives the growth of the North American material informatics market. Asia Pacific is predicted to grow dramatically in the next years for a variety of reasons, including significant industrial and economic expansion, which will raise demand for innovative materials in industries such as automotive, electronics, and construction. Furthermore, countries such as China, India, and Japan have significantly invested in research and development, especially materials science and technology. This emphasis on innovation and technological developments is boosting the region's adoption of material informatics.
Recent Developments:
- In Apr 2022, LyondellBasell established a long-term partnership with Citrine Informatics to make use of the Citrine Platform for Materials Informatics and product development led by artificial intelligence
Material Informatics Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 125.1 Mn |
|
Revenue Forecast In 2031 |
USD 425.9 Mn |
|
Growth Rate CAGR |
CAGR of 16.6 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Mn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Application, Material Type, Technique |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Exabyte.io, Alpine Electronics Inc., Phaseshift Technologies, Nutonian Inc., Schrodinger, Citrine Informatics, Materials Zone Ltd., BASF, Kebotix, AI Materia, Tilde Materials Informatics, Noble.AI, Nutonian Inc., MAT3RA, MaterialsDesign, Hitachi High-Tech, Dassault Systems, Alloyed, Exponential Technologies (Xt), Innophore, Intellegens, Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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