USD 1.4 billion
Report ID: SQMIG15F2108 | Region: Global | Published Date: February, 2024 | Pages: 274 | Tables: 164 | Figures: 77
3D Printing Construction Market size was valued at USD 1.4 billion in 2021 and is poised to grow from USD 2.63 billion in 2022 to USD 397.5 billion by 2030, at a CAGR of 87.38% during the forecast period (2023-2030).
3D Printing Constructions are becoming popular since they enable Better visualization of the projects for builders and customers. One can produce a photo realistic rendering and do and redo 3D models until it matches expectation. Before 3D painting, the production time was too high which was having a negative impact on industry. Introduction of high speed automated machines which reduce the production time with zero human error has significantly helped the construction industry. The technological advancement does not need extra support, different material or other aspects to keep in mind that traditional methods required in the past. Production cost on material waste has been reduced significantly due to the introduction of 3D printing in construction industries. For instance, robotic arms use a precise amount of material than needed. Along with reducing the material waste, they also have the capability to use recycled material. This reduction of material waste has also enhanced the industry due to the environmental benefits it produced.
Using additive manufacturing as well as recycled products has also allowed the fewer people working on the construction, which has led to the cost effectiveness. Along with waste management cost effectiveness, the most important solution which 3D printing construction provides is innovative solutions in the construction industry.
US 3D Printing Construction Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.4 billion
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Global 3D Printing Construction market is segmented on the basis of application, Material, printing technology, End use industry, Component, Construction Method, and region. By application, the market is segmented into Concept Models, Visual Arts, Tooling, Functional Models, Others. By material, the market is segmented into Concrete, Plastics, Metal, Ceramics, Others. By printing technology, the market is segmented into Fused Deposition Modeling (FDM), Wire Arc Additive Manufacturing (WAAM), Big Area Additive Manufacturing (BAAM), Stereolithography (SLA), Selective Laser Sintering (SLS), Selective Laser Melting (SLM), Others. By end use industry the market is segmented into Commercial, Residential, Industrial, Space (Extra-terrestrial)), Construction (Buildings, Bridges, Walls, Domes, Beams, Girders, Viaducts, Sound Barriers, Abutments, Balconies, Elements for Tunnels, Others.By Construction Method the market is segmented into Extrusion, Powder Bonding.By component the market is segmented into Hardware, software & services .By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
3D Printing Construction Market Analysis by Construction Method
By Construction method, the global market is divided into many segments such as Extrusion, Powder Bonding. The Extrusion segment held the largest global 3D Printing Construction market share due to the wide range of benefits provided by it. This additive manufacturing technique is used for prototyping, modeling and production application.Compared to offsite construction, the extrusion based method is majorly used on on site construction.Moreover, the other applications of Extrusion segments include the usage of traditional construction materials such as geopolymer concrete, cement, clay and plaster.The usage of power bonding segment in constructing complex frameworks is driving the growth of segment in future.The demand for power bonding segment is increasing as it requires less labor and it is less time consuming compared to traditional method. Moreover, it is faster, simpler and more accurate to produce a complex formwork.
3D Printing Construction Market Analysis by Material Type
By vertical, the 3D Printing Construction market is classified into Concrete, Plastics, Metal, Ceramics, Others. The concrete material segment is one of the main reasons for innovation and growth across all construction industries including the global market, that led it to hold the highest market share.The use of concrete formworks in 3D printing has made possible to create double curved surface and organic geometry and others in fraction of cost compared to conventional concrete formwork which requires highly skilled workers which drives the process pricing up to 60% of buildings total budget.Along with concrete segment, due to the applications such as creating internal stiffening, non prismatic sections, openings and functional graded elements, the metal segment is also expected to register significant growth in forecasted period.
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Globally, Asia Pacific is estimated to hold the highest global 3D Printing Construction market share in 2021. Main factors during this growth period is the presence of top market players such as Yingchuang Building Technique (Shanghai) Co.Ltd.(Winsun).
In Asia Pacific, due to the establishment of the region to become a global manufacturing hub and lucrative opportunities in construction centers, the technologies anticipated to gain significant growth in the forecasted Period.Owing to emerging and mature technologies, China and Japan are prominent countries with the potential to offer extensive opportunity in 3D printing constructions. Along with the Asia Pacific region, the market in the European region is expected to witness steady growth in the forecasted period.
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3D Printing Construction Market Drivers
Focus to Reduce the Construction Time is Boosting 3D Printing Construction Market
3D Printing Construction Market Restraints
Fluctuating Raw material Price to Hinder Market Growth
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Competition in the global 3D Printing Construction market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of Technologies compatible with 3D Printing Construction will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
3D Printing Construction Market Top Player’s Company Profiles
3D Printing Construction Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global 3D Printing Construction market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as reducing the material waste,develop the construction industry as a sustainable industry. 3D Printing Constructions will enable devices and services to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
|Market size value in 2021
|USD 1.4 billion
|Market size value in 2030
|USD 397.5 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 3D Printing Construction Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global 3D Printing Construction Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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