CHICAGO, Aug. 26, 2019 /PRNewswire/ -- According to the new market research report "3D Printing Construction Market by Material Type (Concrete, Metal, Composite), Construction Method (Extrusion, Powder Bonding), End-Use Sector (Building, Infrastructure), Region (North America, Europe, APAC, ROW) - Global Forecast to 2024" The 3D printing construction market size is expected to grow from USD 3 million in 2019 to USD 1,575 million by 2024, at a CAGR of 245.9% during the forecast period.
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"3D Printing Construction Market"
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The market is witnessing significant growth because of the growing demand from various end-use industries such as building and infrastructure.3D construction printing has multiple features, such as time-saving, cost-benefit, and environmental friendly resulting in its increasing adoption.
Buildings were the largest end-use sector in 2019.
3D construction printing is primarily employed to create both residential and commercial buildings. The cost-effectiveness and time-saving characteristics of this technology have contributed to its intensive usage for developing buildings. 3D construction printing offers excellent thermal qualities that are strong enough to withstand external factors such as heat. Furthermore, its capability to develop complex building geometries, safety, more precision, and less waste has resulted in the construction of complex building structures at an affordable rate.
The extrusion construction method is the fastest-growing segment in the overall market.
3D printing construction is available in two construction methods, namely, extrusion, and powder bonding. The extrusion construction method is expected to register the highest CAGR during the forecast period as it is used widely in building, and infrastructure end-use sector.
Concrete material type is the fastest-growing segment in the overall market.
3D printing construction is available in four material types, namely, concrete, metal, composite, and others (such as foam, plastic, gypsum, and geopolymer). Concrete material is expected to register the highest CAGR during the forecast period as it is used in roadways, infrastructure (bridges, dams, and buildings), harbor protection (breakwalls), and water distribution (pipes & conduit). The key aspects of the concrete mix that play an essential role in 3D printing include extrudability, buildability, flowability, compressive strength, and open time.
Europe is expected to be the largest market for 3D printing construction during the forecast period.
Europe is one of the leading markets of the 3D printing construction industry. The growing demand from end-use industries such as building and infrastructure is driving the 3D printing construction market in the region. The region has a presence of major 3D printing construction companies who focus on the adoption of various business strategies to increase the production of 3D printing construction and meet the growing demand from end-users. For instance, XtreeE and Seaboost (Egis Group) combined their skills in a large-scale 3D printing and marine biology to design and manufacture one of the most innovative artificial reefs. The 3D printed artificial reef has been placed in the Calanques National Park (France) to restore lost ecological functions, March 2018.
Some of the prominent players in the 3D Printing Construction Market are Yingchuang Building Technique (China), XtreeE (France), Apis Cor (Russia), Monolite UK (UK), CSP s.r.l. (Italy), CyBe Construction (Netherlands), Sika (Switzerland), MX3D (Netherlands), Cazza Construction Technologies (California), and ICON (Texas). The strategies undertaken by these players include partnerships, joint venture, new project, expansion, and investment.
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