According to the new market research report “3D Printing Construction Market by Material Type (Concrete, Metal, Composite), Construction Method (Extrusion, Powder Bonding), End-Use Sector (Building, Infrastructure), Region (North America, Europe, APAC, ROW) – Global Forecast to 2024″, The 3D printing construction market size is expected to grow from USD 3 million in 2019 to USD 1,575 million by 2024, at a CAGR of 245.9% during the forecast period. The market is witnessing significant growth because of the growing demand from various end-use industries such as building and infrastructure.3D construction printing has multiple features, such as time-saving, cost-benefit, and environmental friendly resulting in its increasing adoption.
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3D construction printing is primarily employed to create both residential and commercial buildings. The cost-effectiveness and time-saving characteristics of this technology have contributed to its intensive usage for developing buildings. 3D construction printing offers excellent thermal qualities that are strong enough to withstand external factors such as heat. Furthermore, its capability to develop complex building geometries, safety, more precision, and less waste has resulted in the construction of complex building structures at an affordable rate.
3D printing construction is available in two construction methods, namely, extrusion, and powder bonding. The extrusion construction method is expected to register the highest CAGR during the forecast period as it is used widely in building, and infrastructure end-use sector.
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The 3D printing construction market size is estimated to be USD 3 million in 2019 and is projected to reach USD 1,575 million by 2024, at a CAGR of 245.9% between 2019 and 2024. Advantages of 3D printing such as cost-effective, time-saving, environmentally friendly, reusable waste materials, durability, and resistance to fire, are resulting in an increasing demand for the technology from various sectors such as building and infrastructure.
The major 3D printing construction manufacturers are Yingchuang Building Technique (China), XtreeE (France), Apis Cor (Russia), Monolite UK (UK), CSP s.r.l. (Italy), CyBe Construction (Netherlands), Sika (Switzerland), MX3D (Netherlands), Contour Crafting (California), and ICON (Texas). These players have adopted various growth strategies, such as new product development, partnership, expansion, joint venture, and investment to expand their presence in the market further. Product development was the most commonly adopted strategy by the major players from 2015 to 2019, which helped them to increase their product offerings and broaden their customer base.
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Yingchuang Building Technique (China) is a well-established company in the global 3D printing construction market. The company offers a high-quality, 3D printed construction projects. It is continuously engaged in providing high-grade, 3D printers. As a part of its growth strategy, it is focused highly on new products, joint venture, and agreement. For instance, in December 2017, the company built the first bus stop using 3D printing technology in Jinshan Garden, China. The 3D-printed bus stop was designed as a closed-loop wherein recycled waste materials were used as a raw material for gray traces.
XtreeE (France) is another major player of the 3D printing construction market. It is one of the global leaders in the design, manufacture, and supply of advanced 3D printing systems. As a part of its growth strategy, the company strives to increase its profitability and provide quality products to long-term strategic customers. The company is an expert in creating innovative 3D printed construction projects for the building and infrastructure sector. As a part of its growth strategy, it focuses on new products, partnership, and expansion. For instance, in June 2019, the company launched its new 3D printing construction unit in Dubai, which is helping in completing its production site in Rungis. This new unit will give an integrated service for the design, production, and installation of architectural and structural elements printed in 3D.
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