Materials Informatics Market Revenue to Attain USD 1,572.93 Mn by 2033

11 Oct 2024

Share :

Table of Content

1. Materials Informatics Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Materials Informatics Market 4. Region Insights 5. Materials Informatics Market Coverage 6. Materials Informatics Market News

Materials Informatics Market Revenue and Trends

The global materials informatics market revenue was valued at USD 252.9 million in 2024 and is expected to attain around USD 1,572.93 million by 2033, growing at a CAGR of 23.05% during forecast period. The demand for informatics materials is increasing due to the rising focus and investments in material sciences, which play a crucial role in innovating new materials.

Market Overview

Materials informatics refers to the application of technologies like artificial intelligence (AI) and Machine Learning (ML) in material science to develop and discover new materials like polymers and ceramics that are used in industrial applications. Material informatics uses huge datasets to analyze the properties and performance of materials, which could be beneficial in discovering new products. Materials informatics is gaining significant popularity due to the increasing user base of these technologies, which is leading to advancements in a shorter time. Different industries are using materials informatics to design new materials according to their preferences for new materials.

Report Highlights of the Materials Informatics Market

• On the basis of material, the inorganic materials segment accounted for the largest share of the market in 2023. The segment’s dominance is attributed to the increasing use of these materials in the automotive, electronics, and energy sectors.
• Based on application, the chemical industry segment led the market in 2023. As this industry deals with various complex materials, like composites, polymers, and specialty chemicals, there is a great demand for material informatics. On the other hand, the research and development agencies segment is expected to have a significant revenue share in the coming years. This is due to the rising usage of informatics technology in research and development activities.
• Based on technique, the digital annealer segment dominated the market with the largest share in 2023. This is mainly due to the advanced problem-solving capabilities of this technique, which make it popular across various industries. The use of this technique is rising due to its quantum-inspired computing to find the best materials. 

Materials Informatics Market Trends

• Increasing use of AI and ML-based solutions: Implementing these technologies has significantly enhanced the materials, which has improved the productivity rate of innovation. Their ability to analyze historical data is driving market growth. 
• Increasing demand in the automotive industry: The automotive industry is witnessing rapid growth due to the increasing demand for electric vehicles (EVs), which require constant improvements in materials that are durable and lightweight. 
• Growing focus toward sustainable materials: The rising environmental concerns lead to an increasing focus on developing sustainable and eco-friendly materials in various industries. Many governments and organizations are focusing on implementing regulations that focus on the growth of sustainable product innovation, which leads to the demand for materials informatics. 
• Increasing adoption of technologies: The increasing growth in big data and computing is one of the major factors leading to a huge workforce that focuses on developing new materials. The growth in these technologies is helping companies increase their data storage capacity. 

Region Insights

North America dominated the materials informatics market by capturing the largest revenue share in 2023. The region’s dominance is due to the well-established technological infrastructure in countries like the U.S. and Canada. The huge expenditures on research and development and the rising research and development activities are some of the factors contributed to the market growth in North America. In addition, regional companies are increasing their expenditure on research and development to develop materials informatics. The increasing government support is further expected to boost the market in the upcoming years. 

Asia Pacific is expected to witness the fastest growth in the market during the forecast period 2024 to 2034. Rising industrialization in countries like China, India, and Japan and the increasing demand for lightweight materials in the automotive industry are major factors boosting the market in the region. The region is also one of the fastest-growing economies, which creates multiple opportunities across various industries.

Materials Informatics Market Coverage

Materials Informatics Market News

• In October 2024, the Department of Materials and Life Sciences at Sophia University in Japan announced the development of high-performance organic ionic plastic crystals (OIPCs) as solid electrolytes for rechargeable batteries, enhancing safety, energy density, and overall battery performance, crucial for the growing electric vehicle market.
• In September 2024, Meraxis partnered with AI start-up Polymerize to enhance material informatics in developing and optimizing polymer materials.
• In February 2024, Hitachi High-Tech Corporation demonstrated a proof of concept using Chemicals Informatics (CI) and Materials Informatics (MI) to enhance the development efficiency of metal thin-film materials, achieving an over 80% reduction in workload compared to conventional methods.

Market Segmentation

By Material

• Organic Materials
• Inorganic Materials
• Hybrid Materials

By Technique

• Digital Annealer
• Deep Tensor
• Statistical Analysis
• Genetic Algorithm

By Application

• Chemical Industries
• Dyes
• Research and Development Agencies
• Others

Get this report to explore global market size, share, CAGR and trends, featuring detailed segmental analysis and an insightful competitive landscape overview@ https://www.precedenceresearch.com/checkout/1484

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 804 441 9344