3D Concrete Printing Market to Reach USD 5,083.6 Million by 2028; Constructing Complex Building Geometries & Sophisticated Designs to Propel Growth, says The Brainy Insights
NEWARK, N.J., Feb. 24, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, The global 3D Concrete Printing market is anticipated to grow from USD 459 million in 2020 to USD 5,083.6 million by 2028, at a CAGR of 35.07% during the forecast period 2021-2028.
The ease in the construction of different complex architectural designs is the key factor fuelling the 3D concrete printing market.
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3D Concrete printing is the most advanced technology to fabricate the construction component and buildings with 3D concrete printers. There is various 3D printing method like the extrusion method, which includes wax, cement, additive welding, etc. which are used in the construction process. Gradually 3D concrete printing technology is getting adopted across the globe. There are many experiments which are performed by the construction companies in terms of different types of concrete mixes and printing machines, to come up with the new and better technique in the construction sector. The ease in the construction of the different complex architectural designs, eco-friendly technology, and reduction in wastage are some of the major reasons propelling this market growth.
The construction companies at present are using this technique in constructing roofs, floors, pavement, slabs, etc. More complex and sophisticated designs are easy to construct, with better accuracy, the construction process is also fast, and the process of such type of construction requires fewer labourers, so it is very efficient to use 3D concrete printing technologies. Various key players are now investing in R&D to develop the kind of printing machine, which can be used where construction is happening on a large scale. These 3D concrete printers or machines are integrated to form automated and semi-automated production lines, which are used to make complex building structures.
3D concrete printing technology seems to have a promising future as the key companies are focusing on these technologies, but still, some companies have doubts about the technology and its safety, thus, are not investing in the technology and still focusing on the conventional technique. So, this lack of awareness and trust deficit factors are acting as a major restraint for the market.
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Key players for the global 3D Concrete Printing market include Winsun, XtreeE, Monolite UK, ApisCor, CSP s.r.l., CyBe Construction, Sika, DUS Architects, Fosters + Partners, and Universe Architecture among others.
- The big players are now focused on the implementation of strategies like joint ventures, product innovations, mergers and acquisitions, partnerships, etc. to gain market share and to strengthen its position in the global 3D concrete printing industry. For instance, in December 2018, Winsun came up with 3D printing technology to construct a house in 24 hrs. This technique would take the construction segment in the direction of the digital future.
- In June 2019, XteeE got the investment from TTWiiN Investment partner and had done a collaboration with Concreative to start a new 3D printing production unit in UAE, to expand its market share.
The printing services segment accounted for a higher market value of USD 283.57 million in 2020
The offering segment is divided into printing services and materials. The printing services segment is accounted for a higher market value of USD 283.57 million in 2020. The 3D concrete printing is used in the construction of the building and infrastructure and is used to make automated and semi-automated production lines, which help in the construction of the more complex designed building.
The extrusion-based technique segment accounts for a higher market value of USD 321.99 million in 2020
The technique segment includes an extrusion-based technique and powder-based technique. the extrusion-based technique segment accounts for a higher market value of USD 321.99 million in 2020. This technique constructs highly geometric complex architecture with conventional construction materials.
The building segment accounted for USD 293.35 million of the market value in 2020
The end-user segment consists of building and infrastructure. The building segment accounted for USD 293.35 million of the market value in 2020. This is due to the surging demand for affordable houses and the increasing popularity of complex building structures.
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Regional Segment Analysis of the 3D Concrete Printing Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East & Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the 3D concrete printing market include North America, Europe, South America, Asia Pacific, and the Middle East & Africa. Europe region is having the highest market value of USD 177.86 million in 2020. This is due to the fact that there are new residential construction activities are happening in the region. Many residential construction projects are happening in the countries like Russia, which is driving the 3D concrete printing market in the region. Asia Pacific had the second-largest market value of USD 113.28 million in 2020. The rapid urbanization in the emerging economies of the region like India and China are creating the demand for affordable residences, shopping complexes, hospitals, and school buildings. The rise in disposable income of the people in the region has increased their requirements, which created the need for more infrastructure and buildings in the region setting a solid base for the 3D concrete printing market in the region.
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About the report:
The global 3D concrete printing market is analysed on the basis of value (USD million). All the segments have been analysed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter's five forces model, attractiveness analysis, and competitor position grid analysis.
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About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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