With 33% CAGR, 3D Printing Construction Market Size to Reach USD 6554.49 million by 2029

According to Exactitude Consultancy the Global 3D Printing Construction Market value is expected to reach USD 6554.49 million by 2029, growing at a 33% CAGR of Between Forecast Period 2023 and 2029.

PUNE, India, April 13, 2023 /PRNewswire/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the 3D Printing Construction Market 

The global 3D Printing Construction Market Size is projected to reach USD 6554.49 million by 2029 from USD 503.35 million in 2020, at a CAGR of 33% from 2022 to 2029. 3D printing construction, also known as 3D printed architecture or additive construction, refers to the use of 3D printing technology to construct buildings and other structures. This technology involves the use of large-scale 3D printers that can deposit layers of building material to create three-dimensional structures layer by layer, using a digital model or blueprint as a guide.

Unlike traditional construction methods that require a lot of manual labor and the use of formwork, 3D printing construction can create complex shapes and geometries with minimal human intervention, which can lead to significant time and cost savings. In addition, 3D printing construction has the potential to use sustainable and eco-friendly materials, reduce waste and emissions, and increase efficiency in the building process.

Industry Developments:

• In November 2022 - A Joint Venture (JV) was created by COBOD International A/S and PT Modula Sustainable development Indonesia, a division of Brothers Tbk and PT Bakrie, with the express purpose of growing the 3D construction printing industry in Indonesia.
• In March 2022 - For manufacturing forged flanges and fittings for the gas, oil, and energy industries in Japan, Shimoda Iron Works Co., Ltd., companies that have contributed fittings and forgings in that country, chose MX3D's Wire Arc Advanced producing technology.

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3D Printing Construction Market Overview:

3D printing, also known as additive manufacturing, is a technology that has revolutionized the manufacturing industry. It has allowed for the creation of complex and intricate structures that were previously impossible to produce with traditional manufacturing methods. Recently, the application of 3D printing has extended to the construction industry, where it has the potential to transform the way buildings are designed and constructed.

One of the key drivers of the 3D printing construction market is the ability of 3D printing technology to significantly reduce construction time and costs. 3D printing can eliminate the need for expensive formwork, reduce material waste, and allow for the construction of complex geometries with minimal labor. This makes it an attractive option for the construction of low-rise buildings, as well as for the fabrication of building components such as facades, cladding, and interior partitions.

Another driver of the 3D printing construction market is the increasing demand for sustainable and eco-friendly building solutions. 3D printing technology allows for the use of sustainable and recycled materials, which can reduce the environmental impact of construction projects. In addition, 3D printing can enable the construction of energy-efficient buildings that can reduce energy consumption and lower greenhouse gas emissions.

Despite the promising potential of 3D printing technology in construction, there are still several challenges that need to be overcome. These include the lack of standardization in the industry, the high cost of 3D printing equipment and materials, and the need for skilled professionals to operate the technology. However, as the technology continues to develop and become more widely adopted, these challenges are expected to be addressed.

In conclusion, the 3D printing construction market is a rapidly growing sector that has the potential to transform the way buildings are designed and constructed. With its ability to reduce construction time and costs, and its potential to enable sustainable and eco-friendly building solutions, 3D printing technology is poised to play an increasingly important role in the construction industry in the coming years.

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Key Takeaways:

• Asia-Pacific is predicted to hold a major market share of more than 41% in 2022.
• By construction method, the extrusion segment generated more than 63% of the revenue share in 2022.
• By material type, the concrete segment dominated the market and captured more than 34%v of the revenue share in 2022.
• By End-user, the building segment dominated the market and generated more than 73% of the revenue share in 2022.
• By End-user, the infrastructure segment is anticipated to have the fastest CAGR from 2023 to 2029.

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Regional Insights:

The Asia Pacific region accounted for the largest revenue share of more than 40% in 2021 and is expected to maintain its lead over the forecast period. This large market share and regional growth can be accredited to the lucrative opportunities in the construction sector in the Asia Pacific region. As the region is establishing itself to become a global manufacturing hub, the technology is anticipated to gain significant traction over the forecast period. China and Japan are prominent countries having the potential to offer extensive opportunities for the emerging as well as mature technologies such as 3D printing construction. The numerous manufacturing industries are contributing to the growth and prosperity of the region's overall economic development.

The expenditure and operational benefits coupled with the initiatives being undertaken by the governments of emerging countries, such as South Korea, Taiwan, and Singapore, are responsible for catapulting investments and encouraging industry players to invest in the Asia Pacific region. Furthermore, increasing investments are being carried out in R&D activities to improve 3D printing technology and related developments, due to which prominent players are undertaking strategic initiatives such as distribution alliances, partnerships, mergers, and acquisitions. As such, all these factors are expected to propel regional market growth.

Construction Method Insights

The extrusion construction method led the market and accounted for more than 60% revenue share in 2021. Extrusion 3D printing, also called Fused Deposition Modeling (FDM), is one of the additive manufacturing (AM) techniques used for prototyping, modeling, and production applications. The 3D printing model is created using software and then saved as a stereolithography (STL) file. Then the file is sent to interfacing software to finalize the model. Based on the model, the final structure or object is printed.

End-user Insights

The building segment led the 3D Printing Construction Market and accounted for more than 70% revenue share in 2021. The building segment comprises of commercial, residential, and industrial construction. The growing construction sector in emerging and developing countries, increasing emphasis on eco-friendly construction practices, and the need for affordable housing solutions are expected to stimulate the market's growth in the forecast period. Additionally, the segment is also expected to grow on account of rising industrialization, increasing population, and need for lower construction costs.

The growing demand for easily constructing and high-performance complex designs is fueling the growth of the infrastructure end-user segment. Various applications of the building industry are using 3D Printing Construction Market. It helps make lightweight components such as panels and walls; while doing so, it still lowers the handling cost and maintains structural integrity. Dutch, Russian, and Chinese companies are first-in-class to adopt 3D printed construction technology and have started constructing buildings in China, Dubai, and the Netherlands.

Material Type Insights

Concrete led the 3D Printing Construction Market and accounted for more than a 30% share of the global revenue in 2021. The segment is anticipated to continue growing and lead the market in terms of revenue over the estimated duration. 3D printed concrete is used to construct very complex structures that can otherwise be challenging with traditional concrete formwork. Some of the advantages of 3D printed concrete include customized structures, advanced design possibilities, streamlined processes, reduced costs, greater productivity, and improved quality.

Key Market Segments

3d Printing Construction Market by Construction Method, 2020-2029, (USD Million)

• Extrusion
• Powder Bonding

3d Printing Construction Market by Material Type, 2020-2029, (USD Million)

• Concrete
• Metal
• Composite

3d Printing Construction Market by End User, 2020-2029, (USD Million)

• Building
• Infrastructure

3d Printing Construction Market by Regions, 2020-2029, (USD Million)

• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

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About Exactitude Consultancy

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SOURCE Exactitude Consultancy

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