LOS ANGELES, July 05, 2022 (GLOBE NEWSWIRE) — A recent report published by Acumen Research And Consulting says that the global material informatics market size is anticipated to be worth USD 497.2 Million by 2028, escalating at a CAGR of 25% from 2021 to 2028.
Materials Informatics is a combination of materials science and informatics that aims to improve the selection, use, development, and discovery of materials. In simple words, “materials informatics” is an innovative data-driven technology that predicts upcoming materials by combining fundamental and experimental data from materials by the assistance of advanced statistical models. The significant urge to develop new materials is the primary factor boosting the global material informatics market revenue.
According to our current materials informatics industry analysis, the growing adoption of futuristic technologies such as artificial intelligence (AI) and machine learning (ML) in MI is expected to boost the market. Materials informatics is the use of algorithms to analyze large amounts of material data in order to provide novel insights and address key material challenges. Informatics is rapidly growing in popularity and interest, and it is gaining wide acceptance and visibility. Government, private, and nonprofit efforts are adopting innovative ways to perform analysis of the data, method development, and swift data collection, as materials informatics, is expected to shorten the period for material development from discovery to implementation. This is currently a 10- to 20-year process, and there is a substantial public interest in shortening this time frame.
The increasing research & development activities in the material field will automatically support the market size of the material informatic industry. There is currently a push to create materials databases based on highly structured processing as these will empower materials informatics techniques and could aid in materials discovery, innovation, and deployment. The Ministry of Trade, Industry, and Energy announced the “plan of reinforcing digital material advancement by accumulating and using data” in March 2021. It plans to develop new, better materials faster than traditional material leading companies such as the United States and Japan.
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Materials Informatics Market Report Coverage:
|Market||Global Materials Informatics Market|
|Market Size 2021||USD 101.4 Million|
|Market Forecast 2028||USD 497.2 Million|
|CAGR During 2021 to 2028||Over 25%|
|Analysis Period||2021 – 2028|
|Forecast Data||2022 – 2028|
|Segments Covered||By Material, By Technique, By Application and By Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||AI Materia, Alpine Electronics, Inc., Citrine Informatics, BASF, Kebotix, Nutonian Inc., Phaseshift Technologies, Materials Zone Ltd., and Schrodinger|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
In addition to US efforts, there are other global projects, such as the European Union’s NoMaD repository and the European Commission Joint Research Centre’s MatDB that have been developed to address infrastructure requirements. Similarly, the Japanese National Institute of Materials Science is also investigating ways to expand its current databases to address this issue. In Korea, for example, the Ministry of Trade, Industry, and Energy announced plans to invest KRW 180 billion or more in developing the foundation for digital transformation in the machine robot and material parts fields, as well as to launch the “digital industrial innovation big data platform.” As a result, the material informatics industry is not only driven by increasing R&D activities but by the increasing levels of investments.
To date, material informatics has not received as much attention in industry as physics-based supercomputing materials methods, but it is gaining traction, with companies such as IBM announcing plans to use materials informatics to aid in materials discovery. Materials informatics has traditionally concentrated on fundamental materials design and discovery at the laboratory scale, but there is the potential for significant practical impact further downstream in the materials life span. It is becoming clear that there must be a connection between material development, manufacturing, and the life cycle. Materials informatics can benefit areas such as research and development (R&D), product design, and manufacturing with informatics addressing discovery, selection, and optimization for use, as well as certification and manufacturing.
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Global Materials Informatics Market Segmentation
The material informatics market is divided into four categories: material, technique, application, and geography.
Materials Informatics Market by Material
- Inorganic Materials
- Organic Materials
- Hybrid Materials
According to our material informatics market forecast, the hybrid material is expected to grow at the fastest rate (CAGR) over the forecasted timeframe.
Materials Informatics Market by Technique
- Deep Tensor
- Digital Annealer
- Statistical Analysis
- Genetic Algorithm
According to our analysis, the digital annealer market occupied a significant market share in 2021 and is expected to continue this trend in the coming years.
Material Informatics Market by Application
- Chemical Industries
- Material Science
- Paper & Pulp
- Food Science
- Research and Development Agencies
According to our research, research and development agencies captured an outstanding share of the application segment because material informatics is still in growth and without new R&D activities, market growth will slow gradually.
Material Informatics Market Regional Outlook
The material informatics market is divided into five regions: North America, Asia-Pacific, Latin America, Europe, the Middle East, and Africa. North America held the largest market share in 2020 and is expected to continue to do so in the coming years. This could be attributed to their government’s increasing number of large-scale nationwide projects to initiate material development. The Asia-Pacific region, on the other hand, is expected to experience significant market growth from 2021 to 2028. The Asia-Pacific material informatics market would benefit from a high level of interest in this sector in countries such as Japan and China. Japan, for example, has formed a consortium with 18 companies, including Idemitsu, Konica Minolta, Ube Industries, Toray, and Showa Denki. This collaboration which is led by the Ministry of Economy, Trade, and Industry is called as Advanced Materials High-Speed Development Technology Research Association (ADMAT) is developing functional materials using numerous kinds of material data in collaboration with the National Institute of Advanced Industrial Science and Technology (AIST) and ten universities.
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Material Informatics Market Players
The leading material informatics companies presented in the report include AI Materia, Alpine Electronics, Inc., Citrine Informatics, BASF, Kebotix, Nutonian Inc., Phaseshift Technologies, Materials Zone Ltd., and Schrodinger.
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