3D Printing Construction Market Generated Revenue Worth ~$15 Million in 2020
- Published: August 2021
The growing environmental concerns and the possibility of customization and increased architectural flexibility are some of the key factors associated with the growth of the 3D printing construction market. Furthermore, there are numerous other benefits, such as zero waste production and quicker and cost-effective construction, which help in boosting the usage of the 3D printing technology in the construction industry. Due to these factors, the global 3D printing construction market stood at ~$15 million revenue in 2020.
Due to the COVID-19 pandemic and lockdowns in various countries across the world, manufacturing facilities of 3D printing construction materials, construction sites, and supply chains were affected in 2020. As a result, the market witnessed a negative impact in the short run (till the third quarter of 2020), thus leading to a reduction in the market growth rate. However, the demand for 3D-printable construction materials resurged after the resumption of construction activities, lifting of lockdowns, and streamlining of raw material imports and exports.
Extrusion Category is Projected to Generate Higher Revenue
The 3D printing construction market is categorized into extrusion and powder bonding, on the basis of construction method. Of these, the extrusion category dominated the market in 2020, and it is expected to retain its dominance during the forecast period. This will mainly be because the extrusion method is majorly used for on-site construction applications and it allows for the usage of traditional construction materials, such as concrete, geopolymers, cement, plaster, and clay.
Furthermore, the 3D printing construction market is categorized into building and infrastructure, on the basis of end-user sector. Out of these, the building category is expected to witness the fastest growth during the forecast period. This can be mainly attributed to the rising application of the technology in building construction due to the growing demand for high-performance and complex designs that can be easily brought to life.
Geographically, the Asia-Pacific (APAC) 3D printing construction market is expected to witness the fastest growth during the forecast period. This can be mainly ascribed to the presence of major construction companies using 3D printing for the purpose in the region. As the region is becoming a global manufacturing hub, the technology is set to gain significant traction over the forecast period, mainly due to rising demand for the construction of various commercial and industrial buildings through sustainable methods. China and Japan are the prominent countries where emerging technologies such as 3D printing for construction have a high potential.
Technological Advancements are Most-Effective Strategic Measures Taken by Market Players
Players in the 3D printing construction market are involved in technological advancements and project demonstrations to gain a significant position. For instance, in May 2021, BigRep and BASF SE launched the Concrete Formwork 3D printing material for the architecture and construction industry. BigRep 3D printers, which are up to 1 cubic meter in build volume, can produce large, complex formwork up to three times faster, at a fraction of the cost of traditional methods.
Similarly, in February 2021, Yingchuang Building Technique (Shanghai) Co. Ltd. created the new Dubai Municipality office using the 3D printing technology. The first commercial two-storey building in the world, it has entered the Guinness Book of World Records. The building has been designed with sustainability requirements and green building standards as the primary focus areas.
The major players operating in the global 3D printing construction market include Yingchuang Building Technique (Shanghai) Co. Ltd., Xtreee, Cybe construction, Mx3D, and Beijing Huashang Luhai Technology.