Dublin, July 18, 2023 (GLOBE NEWSWIRE) -- 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 poised for significant growth, with an estimated value of USD 276 million by 2028. The market is projected to exhibit a robust compound annual growth rate (CAGR) of 16.3% during the forecast period (2023-2028). Key insights into the market dynamics, premium insights, and prominent companies have been unveiled in a comprehensive market report.
Material informatics software integrated with AI/ML is gaining traction in materials research and development (R&D) across various industries such as manufacturing, chemical & pharmaceutical, and materials science. The growing digitalization and technological advancements in these applications are major factors propelling the market growth of material informatics.
Elements segment to contribute the largest market share from 2023 to 2028. Material informatics software plays a crucial role in understanding and optimizing different elements in various applications, including materials science, manufacturing, food science, and energy. These elements encompass metals, ceramics, composites, alloys, superalloys, and semiconductors. By simplifying the element development and analysis processes, material informatics software enhances efficiency and effectiveness.
Chemical & pharmaceutical application expected to contribute a significant market share in the material informatics market. Material informatics plays a pivotal role in simplifying the discovery and development process of novel chemical blends and compounds in the chemical & pharmaceutical sector. As companies focus on research and development of different chemicals, material informatics solutions facilitate data collection, storage, analysis, and manipulation. These solutions support sustainable operations in the chemical & pharmaceutical industry.
North America to account for the largest market share during the forecast period. The presence of key players such as Mat3ra, Schrodinger, Citrine Informatics, and Kebotix, along with a strong customer base in manufacturing and chemical & pharmaceutical applications, drives the material informatics market in North America. The region's prominence as a manufacturing hub for the aerospace industry further fuels material R&D activities. These factors contribute to the region's dominance in the material informatics market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 194 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $129 Million |
| Forecasted Market Value (USD) by 2028 | $276 Million |
| Compound Annual Growth Rate | 16.3% |
| Regions Covered | Global |
Premium Insights:
- Asia-Pacific to be a Lucrative Market for Material Informatics
- Elements Segment Held Largest Share of Material Informatics Market in 2022
- Chemical & Pharmaceutical Segment to Capture the Largest Market Size from 2023 to 2028
- China to Register the Highest CAGR in the Global Market During the 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
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 MaterialsZone to Overcome Challenges while Producing Innovative Plastics
Companies Mentioned:
- AI Materia
- Alloyed
- Citrine Informatics
- Dassault Systemes
- Exponential Technologies (XT)
- Hitachi High-Tech
- Innophore
- Intellegens
- Kebotix
- Kitware
- Mat3Ra
- Materials Design
- MaterialsZone
- Noble.ai
- Ontochem
- Perkinelmer Informatics
- Phaseshift Technologies
- Polymerize
- Preferred Computational Chemistry
- Questek Innovations
- Schrodinger
- Simreka
- Tilde Materials Informatics
- Toxtrack
- Uncountable
For more information about this report visit https://www.researchandmarkets.com/r/fn7pyr
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