The global materials informatics market size was valued at USD 108.6 million in 2021 and is expected to reach over USD 1012 million by 2030, growing at a CAGR of 26.74% between 2022 and 2030.
Materials informatics is a branch of informatics that aims to improve the knowledge, usage, selection, development, and discovery of materials by applying informatics ideas to materials science and engineering. This 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.
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
Some of the major trends and growth factors that govern the market growth of materials informatics are discussed below:
Scope of the Materials Informatics Market
|Market Size in 2021||USD 108.6 Million|
|Growth Rate from 2022 to 2030||26.74%|
|Revenue Projection by 2030||USD 1,012 Million|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2022 to 2030|
|Segments Covered||By Material, By Technique, and By Application|
|Companies Mentioned||Exabyte.io, Alpine Electronics Inc., Phaseshift Technologies, Nutonian Inc., Schrodinger, Citrine Informatics, Materials Zone Ltd., BASF, Kebotix, AI Materia|
The global materials informatics market was valued at US$ 108.6 million in the year 2021 and registered a CAGR of 29.2% during the forecast time period.
Material Informatics Market Share, By Region, 2020 (%)
|Middle East & Africa||3.9%|
Market Competition and Players Analysis:
The industry players in the global materials informatics market experience intense competition among each other owing to the presence of large number of players at both regional as well as global level. In addition, these players are significantly involved into the technology integration with material informatics in order to achieve new heights of information and research in the sector.
Key market players:
COVID-19 Impact Analysis:
The spread of COVID-19 in the start of the year 2020 has upended the operation and future scope of several industries including material science and research. As the focus of the research shifted towards the COVID-19 virus and other sectors were impacted because of this. In addition, halt in the manufacturing process along with the country lockdown has negatively impacted the research sector across various industries that again hampered the market growth of material informatics market as well.
Materials-related platforms and organizations have expanded or amended their short and mid-term strategic goals in response to the COVID pandemic's challenges. The A4M community has compiled a non-exhaustive list of instances of these responses.
The European Technology Platform for Advanced Materials and Technologies, EUMAT, published the EUMAT RoadMap, the RD Priorities in Advanced Materials, the EuMat Position Paper, and a document emphasizing the importance of "Materials Made in Europe" with the message that "Advanced Materials are essential" prior to the COVID crisis, anticipating the demands of the COVID crisis. EUMAT and the Alliance for Materials (A4M) released an important Memorandum signed by 242 institutions, as well as the "Alliance for Materials Position Paper," explaining the role of materials in the Green Deal and Digital Age, as well as the need and capacity of the materials community to provide solutions for Materials for Tomorrow. As a reaction to the COVID-19 issues, EUMAT-A4M has gathered project ideas and proposals. The research needs for enhanced surfaces, safe materials, testing methodologies, modelling and data integration, materials for digitalization, the circular economy, and resilience are described in the ANNEX of this publication.
The Materials community supports the European Green Deal and EU advances in digitization, science and technology integration education, and it offers a range of solutions to address social, societal, and economic concerns arising from or exacerbated by the epidemic.
COVID-19 has had a significant impact on the creation of contemporary solutions to address societal concerns, prompting discussion of a new global economic model in which the "circular economy" will play a vital role. The circular economy aims to preserve a product's usefulness as high as feasible while removing design waste from the system. It advocates for a shift away from consumerism and ownership toward sharing and use. Companies must build new interactions with their consumers, suppliers, and the value chain's extremes as a result of the advent of circular economy business models. As a foundation for materials management, it is built on connectivity and interaction. A circular business model was demonstrated to provide resilience to enterprises during the COVID-crisis, allowing them to more readily react and adapt to unexpected events. Digital technologies can help with the transition from a linear to a circular economy by: a) enhancing end-of-life management practices, predictive and condition-based maintenance, or enabling new business models such as product-service systems; b) enhancing end-of-life management practices, predictive and condition-based maintenance, extending product lifetime, or enabling new business models such as product-service systems. The incorporation of functional electronics into products has the potential to extend the useful life of materials and products, reduce resource use and waste by increasing resource efficiency, reducing waste generation at the production and use stages, and improving material and product repair (including self-healing), remanufacturing, recovery, reuse, and recycling. The digital circular economy's major principles include blockchain, machine learning, and digital twins. The introduction of digital technologies into the production system will be required for their application.
Materials recovery and waste re-/upcycling technologies are required, as are residue-safe solutions. Materials that have been repurposed, redesigned, or reshaped will benefit from additive manufacturing technology. Recycling various materials components in order to develop competitive, highly customized products at lower production costs can lead to new business opportunities. Gaining experience and knowledge in additive manufacturing could have a huge impact on the quick production of protective equipment to address crucial shortages in hospitals.
The global material informatics market is highly competitive and opportunistic but still at its nascent phase. Increasing investment from established as well as startups have accelerated the pace of the market. Further, rising integration of advanced technologies such as ML and AI anticipated to again drive the market growth at a rapid rate during the forthcoming years.
By Regional Outlook
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client