The additive Manufacturing and Material Market size is valued at USD 14,634.2 million in 2021 and is expected to grow at a significant CAGR of 19.6% during the forecast period 2022 to 2028. The global market provides a detailed overview and that can be segmented into technology, treatment, power, and end-user. By technology, the additive manufacturing & material market has been segmented into Stereolithography, Fused Deposition Modelling, Laser Sintering, Binder Jetting Printing, and Other Technologies. The stereolithography segment is likely to be the largest and fastest-growing segment in terms of type. Based on material, the market is segmented into Plastic, Metals, and Ceramics. Among these, the Plastic segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on end user, the market is segmented into Aerospace and Defense, Automotive, Healthcare, Industrial, and Others. The aerospace and defense segment accounts for the largest share in 2021. Automotive is the second-largest share during the forecast period 2021-2028 according to Precision Business Insights.
In November 2021, Optomec Inc., launched new additive manufacturing machines specifically designed for high-volume production and incorporate automated part-handling options. These machines are designed with operator-friendly production software for error-free sequencing in a manufacturing setting.