Material Informatics Market 2023 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

Materials informatics is an emerging field which applies the principles of informatics to engineering and materials science for materials data management. This cross application of informatics and material science is done to understand the use, selection, development, and discovery of materials. It has provided potential for the development of highly efficient new materials. It has also provided a materials data management-driven approach for recursive extraction of correlations and other rules on material properties from large datasets. Material informatics is a new field with the goal of achieving high-speed and reliable capture, management, analysis, and dissemination of various materials data in order to drastically reduce the time and risk involved in developing, producing, and deploying new materials, which can take more than 20 years.

The material informatics market is anticipated to reach USD 357.5 million by 2030 from USD 134.6 million in 2021, at a CAGR of 13.7% during the forecast period. The global market for material informatics is growing rapidly due to rising requirement for innovative materials to reduce design and manufacturing costs, time, and related risks in the manufacturing ecosystem.

Growth Drivers:

Artificial Intelligence (AI) has proved to be boon in the research & development industry as it helps to analyze the 3-dimentional concept of the material without actually being developed. In addition, the rising penetration of AI across various industries particularly in the electronics, food science, chemical, and many other industries likely to propel the market growth for material informatics over the forecast period. Many industries are changing their paradigms as a result of artificial intelligence, and materials-focused commerce is no anomaly, with tremendous opportunities ahead. Because of the success of efficient and comprehensive deep learning tools, the materials industry is poised to benefit from extraordinary breakthroughs, leveraging materials modeling, analysis, and design toward a more effective, less costly, and more adaptable response to market demands and opportunities. Several startups are raising their funds for the integration of material informatics and AI in order to capture the upcoming market opportunities and to strengthen their footprint in the global market is expected to drive the growth of material informatics market

Data mining has revolutionized the material science sector and open up new and alluring opportunities in the near future. Furthermore, ongoing developments in the new data mining and machine learning concepts for different types of materials data along with the proliferation of material property databases, this expected to have a continued impact on material design. This rising penetration of data mining and machine learning technologies in the material informatics is predicted to drive the growth of materials informatics market.

Increasing computational capabilities give a huge potential to use statistical learning to distil structure-property relationships and develop totally new methodologies and intuition for creating materials, which is driving the growth of material informatics market.

Alloy material has shown exponential growth for materials informatics industry. The field of high-entropy or multiple principal element that allows in shift for alloy developments. In addition to this in the recent year’s material informatics that used in data science application to resolve problems associated with material science and engineering's has emerged as a power full tool for discovery of material and design. These advanced analytics of alloy discovery tools have a significant impact on the interpretation of data for a variety of material system. With the help of material informatics that demonstrating that the tool is extremely used for identifying alloy material for the research field. A report published by EY states, 93% of companies indicated that they plan to continue to increase investments in the area of data and analytics thus driving investment in material informatics sector.

Material Informatics Segmentation:

By Material:

·        Elements

·        Chemicals

·        Others

By Technique:

·        Digital Annealer

·        Deep Tensor

·        Statistical Algorithm

·        Genetic Algorithm

By Application:

·        Manufacturing

·        Material Science

·        Chemical & Pharmaceutical

·        Food Science

·        Electronics

·        Research & Development Agencies

·        Others

By Region:

·        North America

·        Europe

·        Asia Pacific

·        Latin America

·        Middle East and Africa

Material Informatics Market by Material Review:

Based on the material, the material informatics market is segmented into elements, chemicals, and others. On the basis of material, elements segment is the largest and is expected to grow at a highest CAGR during the forecast period. This growth is seen because 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, super alloys, and semiconductors.

Material Informatics Market by Technique Review:

Based on the technique, the material informatics market is segmented into digital annealer, deep tensor, statistical algorithm, and genetic algorithm. On the basis of technique, digital annealer segment is expected to dominate the market and the segment for statistical algorithm is forecasted to grow at the highest rate in terms of CAGR during the forecast period.

Material Informatics Market by Application Review:

Based on the application, the material informatics market is segmented into manufacturing, material science, chemical & pharmaceutical, food science, electronics, research & development agencies, and others. On the basis of application, the segment for electronics is expected to grow at a highest CAGR during the forecast period due to notable investments made for the internal R&D among the electronic companies in the industry.

Regional Outlook:

The material informatics market research report offers detailed analysis and forecasts for five major regions i.e., North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa.

North America holds the largest market for material informatics. Within the North America, United States and Canada are seen to hold a dominant portion of the material informatics market due to the presence of many key players such as Mat3ra (US), Schrödinger (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.

The Asia Pacific is expected to be the fastest growing region during the forecast period owing to the rapid development across the technology integration sector. AI, ML, and big data are ought to be the fastest growing technologies in the region as well as their penetration in the electronics industry has also created alluring opportunities for the market players during the forecast time frame.

China is projected to account for the major share of the material informatics market in the Asia Pacific during the forecast period. The country is a key producer of chemical & pharmaceutical, automotive, and electronics.

Europe Materials Informatics market is estimated to witness substantial growth during the forecast period owing to strong economies and government support in this region.

Key Companies in Material Informatics Market:

The research report offers a competitive analysis of prominent companies operating in the materials informatics market. Some of the leading players profiled in the market research report include:

·        Mat3ra

·        Citrine Informatics

·        Schrodinger

·        Dassault System

·        AI Materia

·        BASF

·        Intellegens

·        Kebotix

·        Phaseshift Technologies

·        Materials Zone Ltd

·        Nutonian Inc

·        Other Players