3D Concrete Printing Market to Gather around USD 6503.84 Million by 2029 and to Grow with a CAGR of ~27.5% during 2022-2029 | Exactitude Consultancy
September 23, 2022
The increased use of 3D printers in the construction industry for making precise final products, developing prototypes while lowering production and material costs, and the increased adoption of green buildings and structures drive the global 3D concrete printing market
/EIN News/ -- Luton, Bedfordshire, United Kingdom, Sept. 23, 2022 (GLOBE NEWSWIRE) -- 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 Concrete Printing Market.
The most advanced technology for fabricating construction components and buildings with 3D concrete printers is 3D concrete printing. There are various 3D printing methods used in the construction process, such as the extrusion method, which includes wax, cement, additive welding, and so on. Globally, 3D concrete printing technology is gradually gaining traction.
The global 3D Concrete Printing Market was accounted for at USD 730.43 Million in 2021, and is expected to reach USD 6503.84 Million by 2029, growing at a CAGR of 27.5% from 2022 to 2029.
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Construction companies conduct numerous experiments with various types of concrete mixes and printing machines in order to develop new and better techniques in the construction sector. The ease of construction of various complex architectural designs, eco-friendly technology, and waste reduction are some of the major factors driving this 3D concrete printing market growth.
The report provides market sizing and forecast across five major currencies - USD, EUR GBP, JPY, and AUD. It helps organization leaders make better decisions when currency exchange data is readily available. In this report, the report is considered historical years, 2017 as the base year, 2021 as the estimated year, and years from 2022 to 2029 are considered the forecast period.
- On Aug 2021, Skanska intends to use 3D-printed concrete in its work on HS2, the USD147 billion high-speed rail system currently under construction in the United Kingdom. The joint venture between Skanska, Costain of the United Kingdom, and Strabag of Austria will use a technique dubbed "Printfrastructure" to print concrete buildings on site rather than shipping them in prefabricated slabs or mixing and pouring them on site.
- On May 2020, Pikus Concrete teams up with Sika to commercialize 3D concrete printing technology in the construction industry and to capture its vast potential. Pikus' first 3D concrete printer with Sika technology has commenced operation in Lehi, Utah. The company is working on implementing the technology in the first construction projects
Asia Pacific is expected to hold the largest share of the global 3D concrete printing market due to increased population, rising middle-class income, and urbanization.
The Asia-Pacific construction sector is the world’s largest and growing at a healthy rate. The Asia-Pacific construction sector is being driven by increased infrastructure construction activities. Due to strong government support, initiatives toward standardization, and expanding application segments, China has emerged as a significant 3D concrete printing user in Asia-Pacific.
Use of walls in construction sector is projected to drive the 3D concrete printing market growth.
3D concrete printers can create concrete things with incredible detail and precision, allowing for the quick and easy construction of advanced concrete walls at the touch of a button. Furthermore, walls built on-site with a 3D concrete printer produce no waste and take less time to create.
Increasing use of 3D concrete printing in residential sector is driving the market growth.
The residential market for 3D concrete printing has exploded, especially in Asia-Pacific and other developing countries. The demand for housing in countries like India far outnumbers the supply. In addition, there has been an increase in housing demand in metropolitan regions. The use of 3D printing in home construction has increased dramatically in 2021.
|Market Size||USD 730.43 Million in 2021
USD 6503.84 Million by 2029
|CAGR||27.5% (2022 - 2029)|
|Forecast Period||2022 - 2029|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material Type, End-Use Industry and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Winsun, XtreeE, Monolite, Apis Cor, CSP s.r.l., CyBe Construction, and Sika, Holcim Ltd, HeidelbergCement AG, YingChuang Building Techniques Co. Ltd.|
|Key Market Opportunities||New product launches and R&D Amongst major key Players|
|Key Market Drivers||
The presence of large industry players carrying out strategic initiatives will drive market share.
The major players operating in the global 3D concrete printing industry include Winsun, XtreeE, Monolite, Apis Cor, CSP s.r.l., CyBe Construction, and Sika, Holcim Ltd, HeidelbergCement AG, YingChuang Building Techniques Co. Ltd. The presence of established industry players and is characterized by mergers and acquisitions, joint ventures, capacity expansions, substantial distribution, and branding decisions to improve market share and regional presence.
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Key Market Segments: 3D Concrete Printing Market
3d Concrete Printing Market by Offering, 2020-2029, (USD Million)
- Printing Services
3d Concrete Printing Market by Technique, 2020-2029, (USD Million)
- Extrusion Based
- Powder Based
3d Concrete Printing Market by End User, 2022-2029, (USD Million)
3d Concrete Printing Market by Regions, 2022-2029, (USD Million)
- North America
- Asia Pacific
- South America
- Middle East and Africa
Key Market Trends
Residential Sector to Dominate the Market
- The residential market for 3D concrete printing has grown significantly, particularly in Asia-Pacific and other growing nations. In nations like India, the demand for housing outnumbers the availability. Furthermore, there has been an increase in demand for housing in metropolitan areas.
- In 2021, The use of 3D printing in home construction has surged in 2021. As a result of the rapid growth in urbanization in recent years, a need for faster construction of residential structures has emerged in a number of growing countries.
- On March 2021 Peri, a leading German formwork and scaffold manufacturers, have constructed Germany’s first 3D-printed house ready for occupancy.
- Project Milestone is a projected residential complex in Eindhoven, The Netherlands, consisting of five 3D-printed structures designed by Houben / Van Mierlo Architects. The first structure, a single-story single-family dwelling, has been built as of April 2021.
- The aforementioned factors are expected to drive the demand for 3D concrete printing, during the forecast period.
3D Concrete Printing Market Drivers
Increased demand for both customized and cost-effective constructions is one of the major growth drivers for the global 3D concrete printing market. This, in turn, motivates businesses to perform larger and more elaborate functions in order to meet the diversification and rising needs. In addition, the industry is seeing an increase in funds and investment for the development of strong infrastructure, which will help the global market grow and cover the losses from the pandemic period.
3D Concrete Printing Market Restraints
Globally, the 3D concrete printing market is experiencing a significant demand for skilled labor as well as ongoing capital investment. The timely unavailability of both, combined with issues such as the pandemic, has brought the 3D concrete printing market to a halt and may further impede market growth during the forecast period ending in 2029.
3D Concrete Printing Market Technology Analysis
The increasing level of investment in using the best technological angle and degree is assisting the level of rapid urbanization and industrialization, which is well completing the need for residential construction. This has a significant impact on the growth of the 3D concrete printing market in the period ending in 2029.
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