The increasing urbanization across the globe coupled with rising demand for affordable housing with architectural flexibility is expected to drive the market growth during the forecast period. For instance, according to the United Nation, presently, almost 55% of the population lives in urban areas across the globe and is expected to increase to 68% by 2050.
Moreover, the time-saving and cost-effectiveness qualities of 3D concrete printing have increased the contribution to building development. In addition, its characteristics to construct complex building geometries, safety, precision, and reduce waste have risen the construction of complex building structures at an affordable rate. Thus, these facts supported the growth of the 3D concrete printing market during the forecast period. However, the excessive capital cost of the printer, its maintenance, and its operating software as well as the hardware acts as the major restraint that impedes the growth of the market. The limitation on printing size and height is another drawback, which hampers the growth of the market.
The Asia Pacific region is expected to grow at the highest CAGR during the forecast period owing to rapid urbanization and industrialization. Moreover, the construction industry in the Asia Pacific is the largest in the globe and is expected to grow at a significant rate due to the increasing population and rising disposable income of the population. On the other hand, North America is expected to hold a significant market share during the forecast period due to the increasing consumer preference for sustained investments and green buildings in the commercial real state which will boost the market growth to a great extent.
The key player adopted various strategies to sustain in the market such as merger & acquisition, consolidation, investment, partnership, product launch, and divestment. Recently, in December 2021, Cemex and 3D printing construction company Cobod International have released D.fab, a range of admixtures that allow builders to apply ordinary concrete in 3D printing. The companions say that the products remove the need for expensive specialized mortars. Power2Build implemented the admixtures in concrete to print an entire residence in Luanda, Angola. Moreover, in July 2021, Petroleum Development Oman (PDO), Galfar Engineering and Contracting, & Innotech established a 3D concrete printing facility in Ghala. These players are targeting to increase public-private partnerships.
Market Key Players: Balfour Beatty, Carillion PLC (PwC), Foster + Partners, Dus Architects, Kier Group PLC, HEIDELBERGCEMENT AG, HOLCIM, KOHN PEDERSEN FOX ASSOCIATES PC, Sika AG, UNIVERSE ARCHITECTURE BV, Skanska, YING CHUANG BUILDING TECH ( SHANGHAI ) CO.,LTD ( WINSUN ), XtreeE, Apis Cor, CyBe Construction