Jersey City, NJ, Jan. 23, 2024 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Material Informatics Market - (By Application (Chemical and Pharmaceuticals, Material Science, Manufacturing, Food Science, Energy, Others), By Material Type (Elements, Chemicals, Others), By Technique (Digital Annealer, Deep Tensor, Statistical Analysis, Genetic Algorithm)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Material Informatics Market is valued at US$ 125.1 Mn in 2023, and it is expected to reach US$ 425.9 Mn by 2031, with a CAGR of 16.6% during the forecast period of 2024-2031.
Material informatics is the application of materials science, computer science, and data science to discover and develop novel materials. It helps researchers to analyze and forecast material properties and behaviours by leveraging computer methodologies, machine learning algorithms, and data analytics. Material informatics discovers trends in massive databases of materials data, identifies novel materials, and optimizes existing ones for specific uses. Data mining has transformed the material science field and will create new and exciting opportunities in the near future. Furthermore, continuous advancements in novel data mining concepts for various forms of materials data, as well as the proliferation of material property databases, are predicted to continue to impact material design.
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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.
List of Prominent Players in the Material Informatics Market:
- 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
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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 |
Market Dynamics:
Drivers-
A number of factors are driving the Material Informatics (MI) market, emphasizing the importance and promise of this burgeoning subject. The need for quicker and cost-effective materials research and development is one of the primary reasons driving the growth of the overall material informatics market. Traditional approaches to identifying and creating novel materials can be time-consuming and costly. Material informatics solves this issue by allowing researchers to analyze large datasets more efficiently, simulate material properties, and discover potential candidates. As the demand for new materials grows across industries, the material informatics market is likely to expand steadily in the coming years.
Challenges:
Polymer materials have unique properties in material informatics that make building cohesive databases more difficult compared to other materials such as metals, ceramics, or biomaterials. These polymer materials are extremely complicated, and the computational approach of naming materials made of complex macromolecules has become problematic due to the wide variety of polymer shapes. Aside from chemical composition, the polymer category comprises copolymerization, polymer blending, linear versus branched polymer, and polymer mixing, which is also utilized for material informatics, resulting in greater complexity during product execution. Polymer materials' characteristics are rarely mono-disperse and are made up of macromolecular chains that vary in length. A polymer sample's discrepancy can considerably impact the measured property of the polymer.
Regional Trends:
The North America Material Informatics Market is expected to register a major market revenue share and is projected to grow at a high CAGR in the near future due to increased investments in the field of material science and analysis, as well as increased research and development efforts in many sectors such as electronics, chemicals, and many others. Furthermore, as a technology leader, the region is at the forefront of adopting modern technologies such as AI, Machine Learning, big data, and data analytics. Integrating AI, machine learning, and data science has created a new paradigm for future market prospects.
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Segmentation of Material Informatics Market-
By Application-
- Chemical and Pharmaceuticals
- Material Science
- Manufacturing
- Food Science
- Energy
- Others
By Material Type-
- Elements
- Chemicals
- Others
By Technique-
- Digital Annealer
- Deep Tensor
- Statistical Analysis
- Genetic Algorithm
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
About Us:
InsighAce Analytic is a specializing in market research and consulting services that helps in building business strategies. Our mission is to provide high quality insights with using data analytics techniques and visualization tools that drives the disruption and innovation in market research industry. Our expertise is in providing syndicated and custom market intelligence reports with in-depth analysis and key market insights in a timely and cost-effective manner.
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