3D Printing Construction Market Worth $1,617.5 Billion by 2030
Added: (Wed Nov 08 2023)
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3D Printing Construction Market by Construction Method (Extrusion and Powder Bonding), Material Type (Concrete, Metal, Composite and Others), Application (Building & Infrastructure) and Geography—Global Forecasts to
Meticulous Research®—a leading global market research company, published a research report titled, ‘3D Printing Construction Market by Construction Method (Extrusion, Powder Bonding), Material Type (Concrete, Metal, Composite and Others), Application (Building & Infrastructure) and Geography—Global Forecasts to 2030’.
According to this latest publication from Meticulous Research®, the 3D printing construction market is projected to reach $1,617.5 billion by 2030, at a CAGR of 207.1% from 2023 to 2030. Some of the major factors driving the growth of this market include a growing focus on low-waste construction, reduced health and safety hazards, increased accuracy, a high level of design freedom, the growing adoption of green projects, and the shortage of construction labor.
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The 3D printing construction market is segmented by construction method, material type, and application. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on construction method, the 3D printing construction market is segmented into extrusion and powder bonding. In 2023, the extrusion segment is expected to account for the largest share of the global 3D printing construction market. Extrusion is the most common 3D printing technique, as it can be used in almost all environments. It is used for modeling, prototyping, and production applications. This method creates an object by layering material through one or more nozzles mounted on a robotic arm, gantry system, or crane.
The growth of the segment can be attributed to the flexibility of operation, easy post-execution alterations, continuous operation, and high production volumes. However, the powder bonding segment is expected to grow at the highest CAGR during the forecast period.
Based on material type, the 3D printing construction market is segmented into concrete, metal, composite, and others. In 2023, the concrete segment is expected to account for the largest share of the global 3D printing construction market. 3D concrete printing is increasingly being used as an alternative to conventional concrete construction owing to its potential to reduce cost, labor, and time and increase overall productivity. However, with the use of 3D-printed concrete formworks, it is possible to create double-curved surfaces and organic geometry at a fraction of the cost. Owing to these benefits, constructors are focused on developing 3D-printed concrete formwork. However, the metal segment is expected to record the highest growth rate during the forecast period.
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Based on application, the 3D printing construction market is segmented into buildings and infrastructure. In 2023, the buildings segment is expected to account for the largest share of the global 3D printing construction market. The growing need for new homes can be met using 3D printing technology, as this technology can create high-quality homes in a fraction of the cost and time required for traditional construction. Therefore, various construction companies are forming partnerships with 3D printer providers to construct homes using 3D printing technology.
Based on geography, the 3D printing construction market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the 3D printing construction market. The region's large share is attributed to the rising number of new buildings and growing investment in infrastructure projects. As the region is establishing itself as a global manufacturing hub, the technology is anticipated to gain significant traction over the forecast period. China and Japan are prominent countries with the potential to offer extensive opportunities for emerging and matured technologies, such as 3D printing construction.
WinSun, one of the leading players in the 3D printing construction market in China, uses a 3D printer measuring 10 meters wide and 6.6 meters high and a special material made of cement, sand and fiber mixed with a proprietary additive.
The key players operating in the 3D printing construction market are COBOD (Denmark), Yingchuang Building Technique (China), XtreeE (France), Apis Cor Inc. (U.S.), WASP S.r.I (Italy), CyBe Construction (Netherlands), Sika AG (Switzerland), MX3D (Netherlands), Contour Crafting Corporation (U.S.), ICON Technology, Inc. (U.S.), L&T Construction (India), and Constructions-3D (France), among others.
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Key questions answered in the report-
Which are the high-growth market segments based on construction method, material type, and application?
What was the historical market for 3D printing construction?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, and opportunities in the 3D printing construction market?
Who are the major players, and what shares do they hold in the 3D printing construction market?
How is the competitive landscape in the 3D printing construction market?
What are the recent developments in the 3D printing construction market?
What are the different strategies adopted by the major players in the 3D printing construction market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global 3D printing construction market, and how do they compete with the other players?
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