Booming 3D Printing Construction Market Reach USD 508.07 Billion by 2031 with CAGR of 69.10% | InsightAce Analytic Exclusive Report
Companies Covered in Report are COBOD International A/S; Yingchuang Building Technique (Shanghai) Co.Ltd.(Winsun); XtreeE; Apis Cor; WASP S.r.I, CyBe Construction; Sika AG; MX3D; Contour Crafting Corporation; ICON Technology, Inc.; and Constructions-3D
Jersey City, NJ, March 15, 2023 (GLOBE NEWSWIRE) — The global 3D Printing Construction Market is estimated to reach over USD 508.07 billion by 2031, exhibiting a CAGR of 69.10% during the forecast period.
3D printing creates complex shapes and structures using materials such as concrete, plastics, and metals. This technology is particularly useful for creating customized designs and structures requiring more than traditional construction methods. One of the key advantages of 3D printing construction is its ability to reduce waste and improve sustainability. The precise control over material usage means less waste, and the ability to use recycled materials further improves the environmental impact of construction.
Another benefit of 3D printing construction is its speed and efficiency. Depending on size and complexity, structures can be printed in hours or days, significantly reducing construction time and labor costs. While 3D printing construction has the potential to be more cost-effective than traditional construction methods, the technology and materials can be expensive. There is also a need for more skilled labor and expertise in the field, which can increase costs.
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- In April 2021, Weber Beamix and BAM began work on a 3D-printed concrete pedestrian bridge in the Netherlands. The length of this concrete building will be 29.5 meters. Weber Beamix also intends to build four other 3D-printed bridges in the Netherlands.
- In May 2020, Construction engineering firm Skanska announced a partnership with the UK’s Loughborough University. This partnership aims to hasten the use of 3D printing technology in the nation’s construction industry.
List of Prominent Players in the 3D printing construction market:
- Apis Cor
- Beijing Huashang Luhai Technology
- COBOD International A/S
- Construction 3D
- Contour Crafting Corporation
- CyBe Construction
- ICON Technology, Inc
- Imprimerie AG
- Monolite UK
- Sika AG
- Total Kustom
- WASP S.r.I
- Yingchuang Building Technique
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3D Printing Construction Market:
|Market size value in 2022||USD 4.76 Bn|
|Revenue forecast in 2031||USD 508.07 Bn|
|Growth rate CAGR||CAGR of 69.10% from 2023 to 2031|
|Quantitative units||Representation of revenue in US$ Million, and CAGR from 2023 to 2031|
|Historic Year||2019 to 2022|
|Report coverage||The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends|
|Segments covered||Construction Method, Material Type And End User|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa|
|Country scope||U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia|
3D printing technology increases speed, lower labor costs and accuracy, and improves efficiency. The construction industry’s increasing use of 3D printers for accurate end-product prototyping, design, and creation while lowering production costs propels the market’s expansion. Moreover, one of the key elements enhancing market growth is the increase in green project acceptance around the globe. Construction companies increasingly use green building practices and additive manufacturing to cut costs and produce more energy-efficient structures. Green building is the process of employing environmentally friendly methods and supplies to develop structures with minimal negative effects on the environment.
The high capital expenditure required for 3D printing buildings is anticipated to restrain market expansion. Also, compared to conventional construction methods, materials for commercial and industrial 3D printers are more expensive. However, many problems, including material restrictions, machine limitations, and worries about intellectual property rights, may somewhat restrain market expansion. Another significant element impeding the market’s growth prospects is a need for more skilled workers.
The Asia Pacific 3D printing construction market is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. Many countries in the Asia Pacific region are experiencing rapid urbanization, and affordable housing is a significant need. 3D printing construction offers a cost-effective and efficient way to build new homes quickly. Governments in countries like China and Singapore have been actively promoting the adoption of 3D printing construction. They have invested in research and development, provided funding and incentives for companies, and encouraged collaboration between industry players.
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Segmentation of 3D printing construction market-
By Construction Method-
- Powder Bonding
By Material Type-
- The US
- The UK
- Rest of Europe
- South Korea
- South East Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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