SAN FRANCISCO, July 22, 2021 /PRNewswire/ -- The global 3D
printing construction market size is expected to reach
USD 1,034,096.7 thousand by 2028,
registering a CAGR of 91.5% from 2021 to 2028, according to a new
report by Grand View Research, Inc. The market growth can be
attributed to the rising awareness about 3D printing techniques in
the construction industry and the significant increase in green
construction projects globally. Various benefits offered by the
technology, including increased construction speed, reduction in
costs and waste, reduction of on-site accidents, and flexibility in
creating complex architectural shapes, are also driving its
adoption in the construction industry.
Key Insights & Findings:
- The extrusion segment is expected to witness the highest
growth due to the introduction of extrusion-based 3D printers by
the companies operating in the 3D printing construction
space
- The concrete segment is expected to witness the highest CAGR
over the forecast period. The segment growth can be attributed to
the increase in the demand for 3D printed concrete formwork as it
requires less-skilled workers compared to conventional concrete
construction
- The building segment dominated the market in 2020 and is
expected to show similar trends during the forecast period. The
segment growth can be attributed to the increase in the need for
houses globally
- The Asia Pacific regional
market is expected to witness the highest CAGR owing to the
increasing industrial expansion and development in the emerging
economies of the region
Read 150 page market research report, "3D Printing
Construction Market Size, Share & Trends Analysis Report By
Construction Method (Extrusion, Powder Bonding), By Material Type,
By End User (Building, Infrastructure), By Region, And Segment
Forecasts, 2021 - 2028", by Grand View Research
The funding received by the 3D printing construction
providers from the respective governments for developing
space-based construction systems is expected to create new
opportunities for market growth in the forthcoming years.
For instance, in October 2020, ICON
Technology, Inc. announced that it was awarded a government
contract called Small Business Innovation Research (SBIR) and
funding from NASA to conduct a space-based construction project
called "Project Olympus" on the Moon. In this project, ICON
Technology, Inc partnered with BIG and SEArch+, a company
specialized in space exploration, to develop lunar structures from
the available material on the Moon.
The use of 3D printing technology in the construction industry
can reduce the number of laborers required on-site, which can
eventually resolve the labor shortage problem, particularly in
countries where the industry is heavily dependent on migrant
workers. However, 3D printing technology may not be favorable for
countries where the construction industry is a key employer and
labor is less expensive. Moreover, individuals using specialized 3D
construction printers require proper training, which could add to
the overall cost of a project.
The outbreak of the COVID-19 pandemic negatively impacted the
market growth as supply chains were disrupted and several
construction projects were stalled due to the lockdowns imposed by
various governments across the globe. Construction companies
rely on the supply of equipment and raw materials from their
suppliers. However, as several governments restricted the movement
of goods locally and across the border, companies had to halt their
construction activities, given the stalled supply of raw materials
and equipment.
Grand View Research has segmented the global 3D printing
construction market based on the construction method, material
type, end user, and region:
- 3D Printing Construction Method Outlook (Revenue, USD
Thousand, 2016 - 2028)
-
- Extrusion
- Powder Bonding
- Others
- 3D Printing Construction Material Type Outlook (Revenue, USD
Thousand, 2016 - 2028)
-
- Concrete
- Metal
- Composite
- Others
- 3D Printing Construction End-user Outlook (Revenue, USD
Thousand, 2016 - 2028)
-
- 3D Printing Construction Regional Outlook (Revenue, USD
Thousand, 2016 - 2028)
-
- North America
-
- Europe
-
- Asia Pacific
-
- South America
-
- Middle East & Africa
-
List of Key Players of 3D Printing Construction
Market
- 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.
- Constructions -3D.
Check out more studies conducted by Grand View Research on
topics related to 3D printing:
- 3D Printing Market– The global 3D printing market
size was valued at USD 13.78 billion
in 2020 and is expected to expand at a compound annual growth rate
(CAGR) of 21.0% from 2021 to 2028
- 3D Printing Metal Market– The global 3D printing
metal market size was valued at USD 772.1
million in 2019 and is expected to grow at a compound annual
growth rate (CAGR) of 27.8% from 2020 to 2027
- 3D Printing Plastics Market– The global 3D
printing plastics market size was valued at USD 520.5 million in 2019 and is expected to grow
at a compound annual growth rate (CAGR) of 23.7% from 2020 to
2027
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About Grand View Research
Grand View Research, U.S.-based market research and consulting
company, provides syndicated as well as customized research reports
and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425
analysts and consultants, adding more than 1200 market research
reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries
worldwide. With the help of an interactive market intelligence
platform, Grand View Research helps Fortune 500 companies and
renowned academic institutes understand the global and regional
business environment and gauge the opportunities that lie
ahead.
Contact:
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Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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