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  • 3D Printing Construction Market Growth Analysis | 2023-2028

    3D Printing Construction Market Growth Analysis | 2023-2028

    3D Printing Construction Market Growth Analysis | 2023-2028
    Report code - SRCE123 Delivery - 2 Weeks
    3D Printing Construction Market Size, Share, Trends, Dynamics, Forecast, & Growth Anal See more...

    Market Insights

    The 3D printing construction market was estimated at USD 0.08 billion in 2022 and is likely to grow at a CAGR of 141.54% during 2023-2028 to reach USD 18.91 billion in 2028.

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    What is 3D printing construction?

    3D printing construction refers to various technologies that use 3D printing to fabricate buildings or construction components. 3D printing construction is majorly used for building complex components for private, commercial, and industrial construction. It provides advantages such as lower labor costs, faster construction, and higher accuracy.

    3D printing construction is done with different materials such as concrete, metal, composite, and others. They are constructed through different construction methods such as extrusion and powder bonding.

    COVID-19 IMPACT

    Worldwide lockdowns and restrictions resulted in a complete standstill in construction. As a result, the 3D printing construction market saw a significant decline due to Covid-19.

    3D Printing Construction Market Highlights

    Market Size in 2022

    USD 0.08 billion

    Market Size in 2028

    USD 18.91 billion

    Market Growth (2023-2028)

    141.54% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the major players in the market are-

    • Yingchuang Building Technique
    • XtreeE
    • Apis Cor
    • Monolite UK
    • CSP s.r.l.
    • CyBe Construction
    • Sika

    Market Dynamics

    3D printing is gradually finding applications in the construction industry due to several reasons. A few are mentioned below –

    • Benefits offered by 3D printing technologyThe implementation of 3D printing technology transforms the construction industry by offering high accuracy, unparalleled efficiency, reduced labour cost, and significant construction speed. Also, 3D printing materials are affordable compared to others. These benefits are likely to propel the growth of 3D printing in the construction industry.
    • Sustainability– 3D printing stands out as an energy-efficient alternative that produces considerably less amount of wastage, resulting in lower environmental impact. Thus, with the increasing emphasis on sustainable practices, 3D printing emerges as a valuable solution for the construction industry.
    • Government initiatives and rising investments– The rising interest of governments in sustainable and innovative projects is also promoting the demand for 3D printing in the construction industry. Governments across the world are supporting industries that are developing innovative products through tax benefits, and credits. For instance - the European Union granted EUR 1.8 billion, in January 2023, through its Innovation Fund to 16 innovative projects that will avoid ~125 million tonnes of CO2 emissions in the first 10 years of operation.

    Amidst the evolving landscape of the construction industry, strategic collaborations are taking place. In response to the growing need for innovative products in the construction industry, in November 2022, PT Modula Sustainability Indonesia, a subsidiary of PT Bakrie & Brothers, established a joint venture agreement with COBOD International, a 3D construction printing solution giant.

    This joint venture will take on responsibilities for sales, distribution, and market development focusing on the adoption of 3D Construction printing (3DCP) solutions through various activities.

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    Segments Analysis

    By Construction Method Type

    Based on the construction method type, the market is segmented into extrusion and powder bonding. The extrusion segment held the largest revenue share of >60% in 2022 and is expected to remain dominant during the forecast period owing to its superior characteristics, such as less construction time, fewer chances of error, and cost-effectiveness.

    By Material Type

    Based on the material type, the market is segmented as concrete, metal, composite, and others (foam, plastic, gypsum, and geopolymer). The concrete segment held the largest revenue share of >30% in 2022 and is expected to remain dominant during the forecast period owing to its various advantages, such as environmental resistance, compressive strength, cost-effectiveness, and design flexibility.

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    By End-Use Sector Type

    Based on the end-use sector type, the market is segmented into building and infrastructure. The building segment held the largest revenue share of >70% in 2022 and is expected to remain dominant during the forecast period.

    The growth can be attributed to the increase in population, which is giving rise to the construction of new houses in urban and suburban areas globally. An upsurge in the construction of non-residential buildings and institutes is also a major reason for the dominance of this segment.

    Regional Insights

    Asia-Pacific is estimated to be the largest as well as the fastest growing market for 3D printing construction and it holds a revenue share of >40% in 2022, owing to the presence of a large number of manufacturers in the region.

    China and Thailand are the major markets of the region. The market is majorly driven by an increase in population and a rise in the construction of commercial residential buildings in the region.

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    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories.

    By Construction Method Type

    • Extrusion
    • Powder Bonding

    By Material Type

    • Concrete
    • Metal
    • Composite
    • Others

    By End-Use Sector Type

    • Building
    • Infrastructure

    By Region

    • North America (Country Analysis: the USA, Canada)
    • Europe (Country Analysis: Germany, France, Russia, Denmark, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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    Recent Developments

    June 2023: 3DXB GROUP to make debut in UAE to revolutionize the construction sector- In a groundbreaking move set to revolutionize the construction sector, 3DXB GROUP is poised to make its debut in the UAE. This momentous development aligns with the visionary decree No. (24) of 2021, issued by the esteemed His Highness Sheikh Mohammed Bin Rashid Al Maktoum, which regulates the utilization of 3D printing in Dubai's construction industry. This decree is in full support of the Emirate's strategic objective to construct 25% of its buildings using 3D printing technology by 2030.

    At the forefront of this transformative wave is 3DXB GROUP, the only regional company in the UAE that offers comprehensive 3D building solutions for the construction sector. With their cutting-edge expertise and innovative approach, they are set to revolutionize the way buildings are designed and constructed in the region. Embracing the limitless potential of 3D printing, 3DXB GROUP aims to play a pivotal role in the realization of Dubai's ambitious vision for the future of construction.

    November 2022: Lennar, a prominent national homebuilder, and ICON, a pioneer in large-scale 3D printing, announced the commencement of construction for a groundbreaking community of 3D-printed homes in Georgetown, TX. This remarkable project, located in the master-planned Wolf Ranch community by Hillwood Communities, blends innovative robotics, software, and advanced materials to create technologically advanced, environmentally sustainable, and architecturally stunning homes. Co-designed by the renowned architectural firm BIG-Bjarke Ingels Group, each Lennar home in Wolf Ranch showcases exceptional design. Reservations for this 100-home community will open in 2023, with prices starting from the mid-$400,000s.

    August 2022: Montana made history in August 2022 as the first state to approve 3D-printed walls for construction- Building code regulators granted the approval to Tim Stark, a contractor from Billings, Montana, after reviewing documents and testing reports from Apis Cor. Apis Cor, a Florida-based construction technology company, holds the Guinness World Record for the largest 3D-printed building and is the only company with 3D-printed walls complying with international building codes. Their walls were independently tested in Boston, Massachusetts, and the specifications were published by the National Fire Protection Association (NFPA). This achievement highlights the transformative potential of 3D printing in the construction industry.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the 3D Printing Construction Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

    More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

    We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the material types by end-use sector type.

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The 3d printing construction market was estimated at USD 0.08 billion in 2022.

    The 3d printing construction market is likely to reach USD 18.91 billion in 2028.

    The 3d printing construction market is likely to grow at a CAGR of 141.54% during 2023-2028.

    3D printing construction refers to various technologies that use 3D printing to fabricate buildings or construction components. 3D printing construction is majorly used for building complex components for private, commercial, industrial construction. It provides advantages such as lower labor cost, faster construction, and higher accuracy. 3D printing construction is done with different materials such as concrete, metal, composite, and others. They are constructed through different construction methods such as extrusion and powder bonding.

    Some of the major players in the market are Yingchuang Building Technique, XtreeE, Apis Cor, Monolite UK, CSP s.r.l., CyBe Construction, and Sika.

    In terms of regions, Asia-Pacific is projected to remain the largest market during the forecast period, in terms of both value and volume.

    The growing demand for 3D printing construction is mainly due to its various advantages such as less construction time, cost-effectiveness, flexibility, less occurrence of an error, and great precision.