The market research report, entitled 3D Printing Construction Market aims to help the stakeholders discover more information regarding trends in the 3D Printing Construction Market. The report will give an overview of the detailed analysis of the correlated key players in the market, covering their competitive landscape, capacity, and latest developments like investments, expansion of capacity, technological growth, etc. Also, it covers different market segments and other factors affecting the market.
Global 3D Printing Construction Market Forecast:
The 3D printing construction market was estimated at USD 0.08 billion in 2022 and is likely to grow at a CAGR of 141.54% during 2023-2028 to reach USD 18.91 billion in 2028.
What is 3D printing construction?
3D printing construction refers to various technologies that use 3D printing to fabricate buildings or construction components. 3D printing construction is majorly used for building complex components for private, commercial, and industrial construction. It provides advantages such as lower labor costs, faster construction, and higher accuracy.
3D printing construction is done with different materials such as concrete, metal, composite, and others. They are constructed through different construction methods such as extrusion and powder bonding.
COVID-19 IMPACT
Worldwide lockdowns and restrictions resulted in a complete standstill in construction. As a result, the 3D printing construction market saw a significant decline due to Covid-19.
Some existing key players in the market are:
- Yingchuang Building Technique
- XtreeE
- Apis Cor
- Monolite UK
- CSP s.r.l.
- CyBe Construction
- Sika
Market Dynamics
3D printing is gradually finding applications in the construction industry due to several reasons. A few are mentioned below –
- Benefits offered by 3D printing technology– The implementation of 3D printing technology transforms the construction industry by offering high accuracy, unparalleled efficiency, reduced labour cost, and significant construction speed. Also, 3D printing materials are affordable compared to others. These benefits are likely to propel the growth of 3D printing in the construction industry.
- Sustainability– 3D printing stands out as an energy-efficient alternative that produces considerably less amount of wastage, resulting in lower environmental impact. Thus, with the increasing emphasis on sustainable practices, 3D printing emerges as a valuable solution for the construction industry.
- Government initiatives and rising investments– Rising interest of governments in sustainable and innovative projects is also promoting the demand for 3D printing in the construction industry. Governments across the world are supporting industries that are developing innovative products through tax benefits, and credits. For instance – the European Union granted EUR 1.8 billion, in January 2023, through its Innovation Fund to 16 innovative projects that will avoid ~125 million tonnes of CO2 emissions in the first 10 years of operation.
Amidst the evolving landscape of the construction industry, strategic collaborations are taking place. In response to the growing need for innovative products in the construction industry, in November 2022, PT Modula Sustainability Indonesia, a subsidiary of PT Bakrie & Brothers, established a joint venture agreement with COBOD International, a 3D construction printing solution giant.
This joint venture will take on responsibilities for sales, distribution, and market development focusing on the adoption of 3D Construction printing (3DCP) solutions through various activities.
3D Printing Construction Market Segment Analysis:
Stratview Research’s proposed market report on 3D Printing Construction Market contains the segment-wise current market condition. Also, it offers an estimation of future growth opportunities.
As per the report, the market is segmented by:
- By Construction Method Type (Extrusion, Powder Bonding),
- ByMaterial Type (Concrete, Metal, Composite, and Others),
- ByEnd-Use Sector Type (Building, Infrastructure),
- ByRegion (North America, Europe, Asia-Pacific, and Rest of the World).
Sneak peek into the Report:
This report discusses about the various challenges, segments, and growth in the 3D Printing Construction Market. It offers valuable insights into business dynamics and allows current and potential market participants to make strategic decisions.
The report also benchmarks the major parameters like –
- Industry Outlook
• Market Segmentation & Value Chain Analysis
• Industry Dynamics
• Drivers
• Restraints
• Key Opportunities
• Application Outlook
• Technology Outlook
• Regional Outlook
• Country-level Analysis
• Competitive Landscape
• Company Market Share Analysis
• Key Company Profiles/ Market Players
Segment Analysis
Based on the construction method type, the market is segmented into extrusion and powder bonding. The extrusion segment held the largest revenue share of >60% in 2022 and is expected to remain dominant during the forecast period owing to its superior characteristics, such as less construction time, fewer chances of error, and cost-effectiveness.
Based on the material type, the market is segmented as concrete, metal, composite, and others (foam, plastic, gypsum, and geopolymer). The concrete segment held the largest revenue share of >30% in 2022 and is expected to remain dominant during the forecast period owing to its various advantages, such as environmental resistance, compressive strength, cost-effectiveness, and design flexibility.
Based on the end-use sector type, the market is segmented into building and infrastructure. The building segment held the largest revenue share of >70% in 2022 and is expected to remain dominant during the forecast period.
The growth can be attributed to the increase in population, which is giving rise to the construction of new houses in urban and suburban areas globally. An upsurge in the construction of non-residential buildings and institutes is also a major reason for the dominance of this segment.
Asia-Pacific is estimated to be the largest as well as the fastest growing market for 3d printing construction and it holds a revenue share of >40% in 2022, owing to the presence of a large number of manufacturers in the region.
China and Thailand are the major markets of the region. The market is majorly driven by an increase in population and a rise in the construction of commercial residential buildings in the region.
Customization of Reports
Stratview Research also provides solutions to custom research requirements for market evaluation, competitive benchmarking, sourcing and procurement, target screening, and other services across sectors with this thorough review.
Research Methodology
Stratview Research's report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
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