Increased usage of 3D printing in the industrial sector is a result of technological developments and rising adoption in construction industry is expected to drive the market of the Global Construction 3D printing Market in the forecast period of 2024-2028.
According to TechSci Research report, Construction 3D printing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028F, the Global Construction 3D printing market is anticipated to register a robust growth during the forecast period, 2024-2028. The growing consumer awareness, rising R&D expenditure, technological improvements, and usage of wide variety of materials are the factors driving the growth in the construction 3D printing market. Moreover, governments and industry participants are being compelled by growing environmental concerns to use 3D printing and green construction techniques. Due to the use of environmentally friendly building materials, these solutions result in less waste reduction. In addition, the development of the construction 3D printing market is anticipated to be aided by the booming construction industry in developing nations, and the increasing emphasis on eco-friendly building techniques.
Moreover, with the use of 3D printing technology, the construction sector has the potential to significantly reduce costs and increase environmental impact. Construction industry experts and their clients may communicate more effectively and clearly thanks to 3D printing technology. With the use of 3D printing technology, customers with no architectural expertise will be able to convey their wants more clearly. These elements are anticipated to increase the role 3D printing technology plays in different green construction projects around the world.
In addition, globally, governments provide tax breaks, grants, and credits to businesses and sectors that create innovative products. For instance, various innovation awards are provided by European agencies. New products give businesses access to global markets, ultimately fostering economic growth and creating job possibilities. As a result, the government continually promotes innovative technology and offers financial assistance, encouragement, and support to businesses who adopt innovation. Through programmes like the National Icons Competition, Innovation Expo, National Science Agenda, Innovation Attaché Network, and smart industrialization, governments from several nations as well as regional authorities and organizations are promoting innovation in leading industries. By encouraging the development and use of cutting-edge technologies like 3D printing, nanotechnology, and robots, these projects seek to enhance specific industries.
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The Construction 3D Printing Market is segmented into method, material type, and end user. Based on method, the market is segmented into extrusion, powder bonding, and others. Based on material type, the market is divided into concrete, metal, composite, and others. Based on end user, it is categorized into building, and infrastructure.
The extrusion segment generated the highest revenue in 2022 as the extrusion method, conventional building supplies including clay, concrete, cement, plaster, and geopolymer can be used for on-site construction. Additionally, the powder bonding market is predicted to expand significantly because of its capacity to create consolidated pieces and lightweight constructions, among other things. When creating complex structures, the powder bonding technique provides great heat resistance, decreases overall assembly time, and boosts durability. This is what is now fueling the segment's growth.
The concrete segment generated the highest revenue in 2022, owing to complex structures that are challenging to build using conventional construction techniques are made using 3D printed concrete. The benefits offered by concrete 3D printers include simplified processes, cutting-edge designs, lower costs, higher quality, and increased productivity. In the present, numerous businesses from all over the world are attempting to strengthen their position in 3D printing, utilizing concrete.
Key market players in the Construction 3D printing market:
- COBOD International A/S
- Apis Cor
- WASP S.r.I.
- CyBe construction
- Contour Crafting Corporation
- ICON Technology, Inc.
- Constructions -3D
“Asia Pacific is the fastest growing segment as players are being encouraged to make investments in the Asia Pacific market, by the steps taken by the governments of developing nations like Taiwan, Singapore, and South Korea. The region's market is anticipated to grow concurrently with the rise in demand for housing and 3D concrete printing. A number of regional governmental entities are approving the usage of 3D printers to build homes. For instance, the Singapore Housing Development Board approved the use of 3D printing technology for the development of buildings and architectural elements like benches and pavilions.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Construction 3D Printing Market - Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028F, Segmented By Method (Extrusion, Powder Bonding, Others), By Material Type (Concrete, Metal, Composite, Others), By End User( Building, Infrastructure), By Region, Competition Forecast & Opportunities, 2018-2028F,” has evaluated the future growth potential of Location- based Services Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Construction 3D Printing Market, globally.
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