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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