A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Additive Manufacturing & Material - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
Amid the COVID-19 crisis, the global market for Additive Manufacturing and Material estimated at US$15.4 Billion in the year 2020, is projected to reach a revised size of US$51.8 Billion by 2026, growing at a CAGR of 21.8% over the analysis period. Plastics, one of the segments analyzed in the report, is projected to record a 21.1% CAGR and reach US$30.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Metals segment is readjusted to a revised 24.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $5.2 Billion in 2021, While China is Forecast to Reach $11.7 Billion by 2026
The Additive Manufacturing and Material market in the U.S. is estimated at US$5.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.7 Billion by the year 2026 trailing a CAGR of 27.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.2% and 19.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 18.7% CAGR.
Ceramics Segment to Reach $8 Billion by 2026
In the global Ceramicssegment, USA, Canada, Japan, China and Europe will drive the 21.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.7 Billion in the year 2020 will reach a projected size of US$6.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2026, while Latin America will expand at a 23.6% CAGR through the analysis period.
Players covered include 3D Systems, Inc.; Arcam AB; EnvisionTEC, Inc.; EOS GmbH Electro Optical Systems; Exone GmbH; MakerBot Industries LLC; Materialise NV; Mcor Technologies Ltd.; Optomec, Inc.; Stratasys Ltd. and Others.