New York, United States , June 29, 2023 (GLOBE NEWSWIRE) -- The Global Material Informatics Market Size is to grow from USD 125.65 Million in 2022 to USD 619.64 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 17.3% during the forecast period.
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Material informatics combines materials science, computer science, and data science to accelerate the discovery and development of new materials. By leveraging computational techniques, machine learning algorithms, and data analytics, it enables researchers to analyze and predict material properties and behaviours. Through large databases of materials data, material informatics uncovers patterns, identifies novel materials, and optimizes existing ones for specific applications. This data-driven approach reduces time and costs associated with traditional trial-and-error methods, opening up possibilities for breakthroughs in energy, electronics, healthcare, and manufacturing. Material informatics has the potential to revolutionize materials research and expedite the development of advanced materials with tailored properties.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on, "Global Material Informatics Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Elements and Chemicals), By Application (Chemical & Pharmaceutical, Materials Science, Manufacturing, Food Science, Energy, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The chemical segment is expected to grow at a CAGR of around 18.4% during the forecast period.
Based on material type, the global material informatics market is segmented into elements and chemicals. the chemical segment is anticipated to experience significant growth in the global material informatics market. This growth can be attributed to several factors such as the chemical industry is continuously seeking innovative materials and compounds to meet evolving consumer demands and industry requirements. Material informatics offers advanced computational techniques and data analytics to accelerate the discovery and optimization of such materials. Additionally, the increasing emphasis on sustainability and eco-friendly solutions drives the demand for materials with improved environmental profiles. The application of material informatics in the chemical sector enables faster and more efficient identification and development of these sustainable materials, contributing to the projected growth of the chemical segment in the material informatics market.
The materials science segment is expected to grow at higher CAGR over the forecast period.
Based on application, the global material informatics market is segmented into chemical & pharmaceutical, materials science, manufacturing, food science, energy, and others. The materials science segment is poised for the highest growth in the forecast period due to several factors due to increasing demand for advanced materials across various industries, including automotive, aerospace, electronics, and healthcare. This demand is driving the need for innovative materials with enhanced properties and performance. The advancements in materials science research, such as nanotechnology and biomaterials, are opening up new possibilities for developing novel materials. Additionally, the integration of material informatics, data science, and machine learning in materials research is accelerating the discovery and optimization of materials. These factors combined contribute to the high growth potential of the materials science segment in the forecast period.
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Asia-Pacific is estimated to grow at the highest CAGR of around 20.5% over the projected period
Based on region, the Asia-Pacific region is expected to experience the highest growth in the forecast period for several reasons such as witnessing significant industrial and economic growth, leading to increased demand for advanced materials across industries such as automotive, electronics, and construction. Additionally, countries like China, India, and Japan have been investing heavily in research and development, including materials science and technology. This focus on innovation and technological advancements is driving the adoption of material informatics in the region. Moreover, the availability of a large talent pool in data science and materials science, coupled with government initiatives to promote research and development, further contributes to the growth of material informatics in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global material informatics market include Mat3ra, Schrodinger, Dassault Systemes, Citrine Informatics, Phaseshift Technologies, Exabyte.io, Alpine Electronics Inc., Nutonian Inc., Materials Zone Ltd., BASF, Kebotix, and AI Materia.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global material informatics market based on the below-mentioned segments:
Material Informatics Market, By Material Type
- Elements
- Chemicals
Material Informatics Market, By Application
- Chemical & Pharmaceutical
- Materials Science
- Manufacturing
- Food Science
- Energy
- Others
Material Informatics Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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