PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371874
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1371874
According to Stratistics MRC, the Global 3D Printing Construction Market is accounted for $4.80 billion in 2023 and is expected to reach $360.58 billion by 2030 growing at a CAGR of 85.3% during the forecast period. Construction using 3D printing technology involves layer-by-layer printing of 3D structures on a 3D printer. To demonstrate the technique, researchers have printed bridges made of polymer, concrete, and metal off-site, as well as finished buildings made of clay or concrete on-site. The method uses fewer materials and requires less labor, so construction can be completed more quickly.
According to the World Green Building Trends Survey 2021, around 42% of the surveyed businesses planned that they would build about 60% of their projects using green technology by 2024.
Due to its ability to turn a digital image into a physical model, 3D printing is crucial in the construction sector. Utilizing materials like concrete, metal, polymer, and other materials, specialized 3D printers can create a real-time 3D model. The use of 3D printing helps designers and architects build any complex design while avoiding labor that is time-consuming, expensive, and intensive. As a result, it is anticipated that, over the course of the forecast period, this higher demand will propel market growth.
The main obstacles to the widespread adoption of 3D printing technology on construction sites are likely to be the high cost of purchasing such equipment and the logistical challenges associated with transporting these large 3D printers to the job site. A 3D printer costs a lot of money, and the initial purchase price does not include supplies or upkeep, which hinders its growth.
One of the main factors influencing industry growth (BIM) is the steadily rising use of building information modeling (BIM). BIM is the cornerstone of the engineering, architecture, and infrastructure sectors' digital transformation. A 3D structure or building can be planned, designed, and built using this collaborative team solution for real estate developers, architects, engineers, manufacturers, contractors, and other infrastructure professionals. The market is expanding as a result of lower production costs and material waste. Additionally, environmentally friendly recycled materials can be used in three-dimensional printers. These factors help to reduce the cost, which drives future growth.
Design limitations and a shortage of skilled workers.
Comparing 3D printing to conventional construction methods can result in limitations in terms of flexibility in architectural design. Architects and engineers may need to modify their design processes to accommodate 3D printing. Moreover, the adoption of 3D printing in the construction industry calls for a skilled labor force that can use and maintain the equipment. It can be extremely difficult to retrain construction workers, which further restricts the market.
The global market's expansion was negatively impacted by the COVID-19 pandemic outbreak. The pandemic outbreak has disrupted the supply of the raw materials needed for many construction projects, causing them to stall all over the world. The major market participants saw their revenues fall. However, the innovative printing of homes and other structures out of concrete is the current trend, and the construction industry is focusing on the advantages of adopting the technology, which has created potential growth opportunities in the 3D printing technology market.
The concrete segment is anticipated to be the largest during the forecast period. A growing number of architects and construction firms are using 3D printing to create concrete. Concrete 3-D printing is more effective, quicker, less expensive, and safer than traditional manufacturing. A higher level of resilience and geometric complexity can be achieved during construction with the help of a concrete 3D printer. Because of these advantages, builders are concentrating on creating 3D-printed concrete formwork, which is fueling segment growth.
Over the forecast period, the infrastructure segment is anticipated to have the highest CAGR. The growth of this segment is being driven by the expanding use of 3D printing technology to build infrastructure, such as furniture and bridges, using materials like metals, plastic, and composites. Additionally, the growth is also fueled by numerous initiatives launched by important companies around the globe to construct 3D-printed bridges, which is driving segment expansion.
The Asia Pacific region currently dominates the market and is anticipated to do so throughout the forecast period. The lucrative opportunities in the construction sector in the Asia Pacific region can be credited to the significant market share and regional growth. Popular nations like China and Japan have the potential to present numerous opportunities for cutting-edge and established technologies, including 3D printing in construction.
The 3D printing construction market is anticipated to grow rapidly in Asia Pacific over the estimated period. The region's largest markets for 3D printing construction are the building and infrastructure sectors. The region is the most significant market for 3D printing construction due to the presence of many manufacturers. The Asia-Pacific 3D printing construction market has been viewed as being largely centered in China and Thailand. Additionally, the growth is attributed to the significant demand for 3D printing construction in the building and infrastructure end-use sectors.
Some of the key players in 3D Printing Construction market include: Apis Cor, Beijing Huashang Luhai Technology, Betabram, COBOD International A/S, Contour Crafting Corporation, CyBe Construction, ICON Technology, Inc, Imprimerie AG, Monolite UK, MX3D, Rohaco, SIKA AG, Spetsavia, Total Kustom, WASP S.r.l, XtreeE and Yingchuang Building Technique(Shanghai)Co.Ltd. (WinSun).
In June 2023, RCAM Technologies, an industry-leading provider of three-dimensional (3D) concrete-printed solutions dedicated to offshore renewable energy, has signed a deal to purchase a state-of-the-art gantry robot system, the CyBe GR, from CyBe Construction, a front-runner in the field of 3D concrete printing technologies. By harnessing the groundbreaking capabilities of the CyBe GR, RCAM is set to accelerate the adoption of renewable energy by slashing costs and drastically reducing environmental impacts associated with manufacturing its infrastructure.
In August 2023, L&T Construction, the Indian construction giant with group sales of $23 bill. and a leader in the 3D construction printing industry in India, unveils the country's first 3D printed post office, a groundbreaking project completed in just 43 days. Powered by COBOD's BOD2 3D construction printer, this achievement underscores the immense potential of 3D printing technology in revolutionizing the construction landscape.
In June 2023, Florida-based Printed Farms achieves a groundbreaking feat by completing the printing of the world's largest 3D printed building, a luxury horse barn, using COBOD's BOD2 construction 3D printer, marking another record for the world's most used 3D printer. This unique structure has a total floor area of +10,100 SF / ~940 m2, almost 50% larger than the previous record-holder in the Middle East.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.