Material Informatics Market Size, Share & Analysis

Updated on : Sep 12 , 2024

The material informatics market size is anticipated to grow from USD 129 million in 2023 to USD 276 million by 2028, at a CAGR of 16.3% from 2023 to 2028. Rising requirements for innovative materials to reduce design and manufacturing costs, time, and related risks in the manufacturing ecosystem and surging demand of material informatics in R&D activities in various fields, including chemical & pharmaceutical, materials science, and manufacturing for innovative material development are some of the significant factors surging the growth of material informatics industry.

Material Informatics Market Forecast to 2028

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The market growth for the material informatics market will show a significant upsurge due to its various applications in chemical & pharmaceutical, materials science, manufacturing, energy, and food science. With the help of material informatics software, it has become possible for researchers, academicians, and material experts to understand a spectrum of material properties, combinatorial chemistry, process modeling, materials property databases, materials data management and product life cycle management. Hence various software vendors and providers are adopting different strategies, including deals such as acquisitions, partnerships, collaborations, sales contracts and developments such as product launches as well as product enhancements. All these factors are propelling the growth of material informatics market.

• New Material Discovery: Material informatics allows researchers to analyze vast datasets and identify patterns that lead to the discovery of new materials with desired properties. This capability significantly reduces the time and cost associated with traditional experimental methods. For instance, companies are using material informatics to develop novel catalysts and polymers with improved performance characteristics.
• Process Optimization: In chemical manufacturing, material informatics helps optimize processes by predicting how different materials will behave under various conditions. This predictive capability enables more efficient production methods, reduces waste, and enhances product quality. Chemical companies are increasingly adopting material informatics to streamline their operations and remain competitive in the market.

• Drug Formulation: Material informatics aids in the design and optimization of drug formulations by predicting how different compounds will interact and affect drug stability, solubility, and bioavailability. This predictive power helps pharmaceutical companies develop more effective and safer medications.
• Biomaterials and Drug Delivery Systems: The development of innovative biomaterials and drug delivery systems is another area where material informatics excels. By analyzing the properties of various materials, researchers can design advanced delivery systems that improve the targeting and controlled release of therapeutic agents, enhancing treatment efficacy and patient outcomes.

Material Informatics Market Trends & Dynamics

Driver: Rising use of AI in materials science

Materials science and development are emerging fields wherein scientists and engineers are engaged in conducting deep research on several materials, such as metals, alloys, chemicals, fibers, and ceramics, used in many applications, including aerospace, automotive, chemical, pharmaceutical, and electronics. Initially, the traditional trial-and-error method was used for material identification, selection, and discovery. This method was inefficient and time-consuming since studying materials through the trial-and-error method could not categorize them efficiently. Thus, material selection and optimization processes were complicated. Therefore, businesses started implementing AI to automate material research, identify data patterns, and make better and prompt decisions to simplify these processes.

Restraint: Shortage of technical resources

It is critical to get experts with the required skill set to understand and incorporate materials informatics into necessary applications comfortably. These essential skills include math and statistics to understand protocols for handling different types and sizes of data and databases to help store and collect materials. Thus, the system must be implemented more accurately, from integration to installation. Slight mishandling or inaccuracy in parameter detection may lead to an inefficient analysis process. This may also compromise the quality of R&D needed for any material development. Further, with constant technological advances due to the rising adoption of AI and automation, the material informatics system requires intermittent software upgrades. This requires periodic workforce training to handle the updated system efficiently.

Opportunity: Growing popularity of cloud-based data analytics platforms to analyze materials

The rising popularity of cloud-based data analytics platforms has led to significant advances in material research and informatics. The accelerated use of materials informatics is due to the rapid progress in cloud-based data management frameworks and supercomputing advances. The cloud-based platform provides various benefits, such as cost-effectiveness, reduced analysis time, real-time analysis, easy accessibility to data analysis platform, and the ability to customize the platform according to research topics and data formats. Additionally, cloud-based material informatics platforms do not require any upfront capital investments for hardware, with a minimum requirement of IT staff, and provide rapid and secure data transfer within the organizations. All these benefits are expected to provide an opportunistic environment for vendors of material informatics platforms.

Challenge: Lack of prescribed standards and regulations

Although material informatics platforms have been around for more than two decades, there are several issues related to their integration and implementation. Various attempts are made by associations such as the IQ Consortium (International Consortium for Innovation and Quality in Pharmaceutical Development) to introduce new interfaces and data management standards to facilitate the integration of these systems. However, the lack of integration standards is a major concern in the material informatics field, and there is very little evidence of emerging universal solutions. This is a major barrier to the greater adoption of these solutions among prospective end users. Currently, with no unified strategy, various application areas such as chemical & pharmaceutical, materials science, and manufacturing are largely continuing to follow conventional procedures regardless of the efficiency of these processes.

Elements segment is expected to have the largest size of the material informatics market during the forecast period.

The elements segment is expected to account for the largest share of the material informatics market during forecast period. Several elements, mainly metals, are used in several applications, including materials science, manufacturing, food science and energy. It is necessary to analyze mechanics, metallography, the strength of materials, structural properties, and elemental formulations to optimize a material or even develop a novel element. Using trial and error or synthesis methods can be exhaustive and inefficient during material optimization or discovery processes. Material informatics software plays a key role in simplifying the element development and analysis processes.

The market for materials science application to register at the highest CAGR from 2023 to 2028.

The materials science application is projected to register the highest CAGR in the materials informatics market during the forecast period. Material informatics techniques can be used in materials science applications to assist the discovery and development of new materials. In materials science, a spectrum of materials and nanotechnology is involved. This increases the complexity of computation problems in materials science. Furthermore, this field witnesses the continued research on new materials with specific desired functions. Hence, different materials, modeling techniques, simulation tools, and physics-based and machine-learning models are used in this field to simplify material innovation, management, and optimization processes.

Material Informatics Market by Region

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The material informatics market in Asia Pacific to grow at the highest CAGR during the forecast period.

The rapid growth of manufacturing, including automotive and electronics & semiconductor, chemical & pharmaceutical, food science, and energy in emerging economies of China, Japan, and South Korea is expected to boost the material informatics market in the region. Moreover, governments in the Asia Pacific countries are increasingly emphasizing on materials R&D, which can be achieved by implementing material informatics software. The material informatics market is witnessing rapid growth in countries such as China and Japan owing to the increasing investments of automotive, electronics & semiconductors OEMs and battery industries that are focused on R&D in new innovative materials. For instance, BASF's advanced materials and systems research technology platforms are located across China, Japan, and South Korea. The company has more than 1,200 research and development personnel across the region, with capabilities across all material technology platforms.

Key Market Players - Material Informatics Market

The material informatics companies such as product launches, product developments, partnerships, and acquisitions, to strengthen their offerings in the market. The major players in the market Mat3ra (US), Schrödinger (US), Dassault Systèmes (France), Citrine Informatics (US), Phaseshift Technologies (Canada) among others.

The study includes an in-depth competitive analysis of these key players in the material informatics market with their company profiles, recent developments, and key market strategies.

Scope of the Material Informatics Market Report

Material Informatics Market Highlights

In this report, the overall material informatics market has been segmented based on material type, application and region.

Recent Developments

• In December 2022, Materials Design announced the release of MedeA 3.6, the next version of its MedeA software package, to accelerate material development and innovation at an atomic scale. The company added new features and upgraded various modules in the software package, including engines, property modules, flowcharts, builders and editors, and other analytical tools.
• In November 2022, Morrow, an industrial battery technology company, signed an agreement with Citrine Informatics to utilize the Citrine Platform for Material Informatics and artificial intelligence (AI)-guided battery development.
• In January 2022, Schrödinger acquired XTAL BioStructures, Inc., a private company that provides structural biology services. The acquisition of XTAL BioStructures enabled Schrödinger to augment its ability to produce high-quality target structures for its drug discovery programs and expand its offerings to include advanced and differentiated services that provide customers with access to protein structures.

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