3D Printing Construction Market Generated ~$15 Million Revenue in 2020, APAC to be The Fastest Growing Region in Coming Years Says P&S Intelligence

NEW YORK, Aug. 17, 2021 /PRNewswire/ -- The increasing environmental concerns and the possibility of increased architectural flexibility and customization are the major factors driving the expansion of the 3D printing construction market. Further, there are several health benefits such as cost-effective and quicker construction and zero waste generation, which further boost the adoption of the 3D printing technology in the construction industry. Because of these factors, the global 3D printing construction market revenue surged to ~$15 million in 2020.

With the outbreak of the COVID-19 pandemic, the governments of many countries imposed lockdowns and social distancing protocols to mitigate the spread of the virus. This resulted in the closing down of 3D printing construction material manufacturing facilities and construction sites and disrupted supply chains. As a result, the market suffered heavily in the short run (right till the third quarter of 2020), thereby causing a sharp fall in the market growth rate. However, with the lifting of lockdowns, construction activities resumed and the imports and exports of raw materials were streamlined, thereby propelling the demand for 3D-printable construction materials.

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The 3D printing construction market is divided into powder bonding and extrusion categories, based on construction method. Between these, the extrusion category held the largest share in the market in 2020, and this dominance is predicted to continue in the coming years as well. This will be because of the extensive adoption of the extrusion method for on-site construction applications, on account of the fact that it enables the use of conventional construction materials such as cement, clay, plaster, geopolymers, and concrete.

Further, the 3D printing construction market is classified into infrastructure and building, depending on end-user sector. Of these, the building category is predicted to register faster growth in the forthcoming years. This will be due to the surging adoption of the technology in building construction, because of the soaring requirement for complex designs that can be developed with the help of the 3D printing construction technology.

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Globally, Asia-Pacific is expected to be the fastest growing region in the 3D printing construction market in the upcoming years. This is credited to the existence of several leading construction companies that use 3D printing for construction purposes in the region. Moreover, the region is rapidly becoming a global manufacturing hub, on account of the construction of numerous industrial and residential buildings, which is massively boosting the popularity of the 3D printing technology. Japan and China are the major APAC countries that are increasingly adopting advanced technologies such as 3D printing for construction purposes.

The players operating in the 3D printing construction market are increasingly focusing on project demonstrations and technological advancements for gaining a competitive edge over their rivals. For example, BASF SE and BigRep developed the Concrete Formwork 3D printing materials for the construction and architecture industry in May 2021. BigRep 3D printers, which usually have a build volume of up to 1 cubic meter, can produce complex and large formwork three times faster and at a fraction of the cost required for producing the same using traditional methods.

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Likewise, Yingchuang Building Technique (Shanghai) Co. Ltd. developed the new Dubai Municipality office, using the 3D printing technology, in February 2021. It was the first commercial two-storey building in the world. Designed with green building and sustainability standards, the building was featured on the Guinness Book of World Records.

Xtreee, Yingchuang Building Technique (Shanghai) Co. Ltd., Beijing Huashang Luhai Technology, Cybe construction, and Mx3D are some of the major players in the global 3D printing construction market.

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Construction Equipment Market - The Asia-Pacific region is expected to be the fastest-growing market for construction equipment till 2030. The key factor responsible for this would be the increasing number of construction projects in order to cater to the rising urban population. This is especially being seen in China, Japan, India, and South Korea, where the large-scale residential infrastructure development is supporting the construction equipment industry.

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SOURCE P&S Intelligence