Global Material Informatics Market Report 2023: A $275+ Million Market by 2028 - Growing Popularity of Cloud-based Data Analytics Platforms to Analyze Materials

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Mar 13, 2023, 12:45 ET

DUBLIN, March 13, 2023 /PRNewswire/ -- The "Global Material Informatics Market by Technique (Statistical Analysis, Genetic Algorithm, Deep Tensors, Digital Annealers), Elements (Metals, Alloys), Chemicals (Dyes, Polymers, Biomolecules), Application (Chemical, Pharmaceutical), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global material informatics market is anticipated to grow from USD 129 million in 2023 to USD 276 million by 2028, at a CAGR of 16.3% from 2023 to 2028

The key players in the material informatics market are Mat3ra, Schrodinger, Dassault Systemes, Citrine Informatics, Phaseshift Technologies, MaterialsZone, AI Materia, Hitachi High-Tech, and Kebotix, among several others.

The rising implementation of material informatics software integrated with AI/ML for materials R&D due to technological advancement and growing digitalization in several applications such as manufacturing, chemical & pharmaceutical, and materials science are some of the major factors propelling the growth of material informatics market.

Elements to contribute largest market share from 2023 to 2028

Material informatics software is used for understanding different elements in various applications, including materials science, manufacturing, food science, energy, and others.

Different elements include metals, ceramics, composites, alloys, superalloys, and semiconductors. Using trial and error or synthesis methods can be exhaustive and inefficient during these elements' optimization or discovery processes. To simplify the element development and analysis processes, material informatics software plays a key role.

Chemical & pharmaceutical application is expected to contribute significant market share in material informatics market during the forecast period

The main purpose of material informatics in the chemical & pharmaceutical application is to simplify the discovery and development process of novel chemical blends and, ultimately, new chemical compounds.

As a result, many companies are focusing on the R&D of different chemicals. Thus, these R&D activities require collecting, storing, analyzing, and manipulating chemical data. These sustainable operations are achieved by implementing material informatics solutions in the chemical & pharmaceutical sector.

North America is expected to account for the largest share of market during the forecast period

The presence of many key players such as Mat3ra (US), Schrodinger (US), Citrine Informatics (US), Kebotix (US), AI Materia (Canada), Kitware (US), and Uncountable (US), along with a large customer base of manufacturing and chemical & pharmaceutical applications, is one of the major factors driving the material informatics market in the region.

The US is also a manufacturing hub for the aerospace industry, which ultimately focuses on material R&D essential for the aerospace sector. All these factors are expected to contribute to the growth of the material informatics market in North America.

Premium Insights

Asia-Pacific to be Lucrative Market for Material Informatics
Elements Segment Held Largest Share of Material Informatics Market in 2022
Chemical & Pharmaceutical Segment to Capture Largest Market Size from 2023 T0 2028
China to Register Highest CAGR in Global Market During Forecast Period

Market Dynamics

Drivers

Rising Use of AI in Materials Science
Government Initiatives to Support Materials Research and Development
Rising Demand for Materials Informatics Techniques to Accelerate Materials and Manufacturing Innovations

Restraints

Shortage of Technical Resources
High Costs of Maintenance and Services

Opportunities

Growing Popularity of Cloud-based Data Analytics Platforms to Analyze Materials
Ease of Building Material Databases Using Digital Technologies

Challenges

Lack of Prescribed Standards and Regulations
Interoperability Issues

Technology Analysis

Artificial Intelligence/Machine Learning
Polymer Informatics
Chemical Informatics
Bioinformatics

Case Study Analysis

Use of AI-Driven Platform Offered by Citrine Informatics to Process Carbon Fibers
Adoption of Technology Platform Offered by Exponential Technologies to Optimize Production Workflow and Reduce Lead Times and Development Costs
Implementation of MIP Offered by Materials - Zone to Overcome Challenges while Producing Innovative Plastics

Prominent Techniques in Material Informatics

Statistical Analysis
Genetic Algorithm

Company Profiles

Key Players

Schrodinger
Dassault Systemes
Mat3Ra
Citrine Informatics
Phaseshift Technologies
AI Materia
Hitachi High-Tech
Kebotix
MaterialsZone
Materials Design

Other Players

Alloyed
Exponential Technologies (XT)
Innophore
Intellegens
Kitware
Noble.ai
Ontochem
Perkinelmer Informatics
Polymerize
Preferred Computational Chemistry
Questek Innovations
Simreka
Tilde Materials Informatics
Toxtrack
Uncountable

For more information about this report visit https://www.researchandmarkets.com/r/qkyv7a

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