Dublin, July 30, 2021 (GLOBE NEWSWIRE) -- The "3D Printing Construction Market Size, Share & Trends Analysis Report by Construction Method (Extrusion, Powder Bonding), by Material Type, by End User (Building, Infrastructure), by Region, and Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global 3D printing construction market size is expected to reach USD 1,034,096.7 thousand by 2028, registering a CAGR of 91.5% from 2021 to 2028. The market growth can be attributed to the rising awareness about 3D printing techniques in the construction industry and the significant increase in green construction projects globally. Various benefits offered by the technology, including increased construction speed, reduction in costs and waste, reduction of on-site accidents, and flexibility in creating complex architectural shapes, are also driving its adoption in the construction industry.
The funding received by the 3D printing construction providers from the respective governments for developing space-based construction systems is expected to create new opportunities for market growth in the forthcoming years. For instance, in October 2020, ICON Technology, Inc. announced that it was awarded a government contract called Small Business Innovation Research (SBIR) and funding from NASA to conduct a space-based construction project called "Project Olympus" on the Moon. In this project, ICON Technology, Inc partnered with BIG and SEArch+, a company specialized in space exploration, to develop lunar structures from the available material on the Moon.
The use of 3D printing technology in the construction industry can reduce the number of laborers required on-site, which can eventually resolve the labor shortage problem, particularly in countries where the industry is heavily dependent on migrant workers. However, 3D printing technology may not be favorable for countries where the construction industry is a key employer and labor is less expensive. Moreover, individuals using specialized 3D construction printers require proper training, which could add to the overall cost of a project.
The outbreak of the COVID-19 pandemic negatively impacted the market growth as supply chains were disrupted and several construction projects were stalled due to the lockdowns imposed by various governments across the globe. Construction companies rely on the supply of equipment and raw materials from their suppliers. However, as several governments restricted the movement of goods locally and across the border, companies had to halt their construction activities, given the stalled supply of raw materials and equipment.
3D Printing Construction Market Report Highlights
- The extrusion segment is expected to witness the highest growth due to the introduction of extrusion-based 3D printers by the companies operating in the 3D printing construction space
- The concrete segment is expected to witness the highest CAGR over the forecast period. The segment growth can be attributed to the increase in the demand for 3D printed concrete formwork as it requires less-skilled workers compared to conventional concrete construction
- The building segment dominated the market in 2020 and is expected to show similar trends during the forecast period. The segment growth can be attributed to the increase in the need for houses globally
- The Asia Pacific regional market is expected to witness the highest CAGR owing to the increasing industrial expansion and development in the emerging economies of the region
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 3D Printing Construction Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 3D Printing Construction Market - Value Chain Analysis
3.4 3D Printing Construction Market - Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Increased adoption of 3D printing in the construction industry
3.4.1.2 Rise in green construction projects
3.4.1.3 Benefits offered by 3D printing technology
3.4.1.4 Government initiatives and increased investment in R&D activities
3.4.2 Market challenge analysis
3.4.2.1 High capital investment
3.4.3 Market opportunity analysis
3.4.3.1 Increase in new construction projects globally
3.5 Penetration and Growth Prospect Mapping
3.6 3D Printing Construction Market - Porter's Five Forces Analysis
3.7 3D Printing Construction Market - Saudi Arabia/KSA Porter's Five Forces Analysis
3.8 3D Printing Construction Market - PESTEL Analysis
3.9 3D Printing Construction Market - Key Technological Trends
3.10 3D Printing Construction Market-Adoption/Penetration Rate Across Countries
3.10.1 U.S.
3.10.2 Canada
3.10.3 Mexico
3.10.4 U.K.
3.10.5 Germany
3.10.6 France
3.10.7 China
3.10.8 Japan
3.10.9 South Korea
3.10.10 Brazil
3.10.11 Saudi Arabia
Chapter 4 3D Printing Construction Method Outlook
4.1 3D Printing Construction Market Share By Construction Method, 2020
4.2 Extrusion
4.2.1 Extrusion 3D printing construction market, 2016 - 2028
4.3 Powder Bonding
4.3.1 Powder bonding 3D printing construction market, 2016 - 2028
4.4 Others
4.4.1 Others 3D printing construction market, 2016 - 2028
Chapter 5 3D printing Construction Material Type Outlook
5.1 3D Printing Construction Market Share By Material Type, 2020
5.2 Concrete
5.2.1 Concrete 3D printing construction market, 2016 - 2028
5.3 Metal
5.3.1 Metal 3D printing construction market, 2016 - 2028
5.4 Composite
5.4.1 Composite 3D printing construction market, 2016 - 2028
5.5 Others
5.5.1 Others 3D printing construction market, 2016 - 2028
Chapter 6 3D printing Construction End User Outlook
6.1 3D Printing Construction Market Share By End User, 2020
6.2 Building
6.2.1 3D printing construction market in building, 2016 - 2028
6.3 Infrastructure
6.3.1 3D printing construction market in infrastructure, 2016 - 2028
Chapter 7 3D printing Construction Regional Outlook
Chapter 8 Competitive Analysis
8.1 Recent Developments & Impact Analysis, By Key Market Participants
8.2 Company Categorization
8.3 Vendor Landscape
8.3.1 Key company ranking analysis, 2020
8.4 Company Analysis Tools
8.4.1 Company Market Position Analysis
8.4.2 Competitive Dashboard Analysis
Chapter 9 Competitive Landscape
9.1 COBOD International A/S
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product benchmarking
9.1.4 Strategic initiatives
9.2 Yingchuang Building Technique (Shanghai) Co.Ltd.(Winsun)
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product benchmarking
9.2.4 Strategic initiatives
9.3 XtreeE
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product benchmarking
9.3.4 Strategic initiatives
9.4 Apis Cor
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product benchmarking
9.4.4 Strategic initiatives
9.5 WASP S.r.I
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product benchmarking
9.5.4 Strategic initiatives
9.6 CyBe Construction
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product benchmarking
9.6.4 Strategic initiatives
9.7 Sika AG
9.7.1 Company overview
9.7.2 Financial performance
9.7.3 Product benchmarking
9.7.4 Strategic initiatives
9.8 MX3D
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product benchmarking
9.8.4 Strategic initiatives
9.9 Contour Crafting Corporation
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product benchmarking
9.9.4 Strategic initiatives
9.10 ICON Technology, Inc
9.10.1 Company overview
9.10.2 Financial performance
9.10.3 Product benchmarking
9.10.4 Strategic initiatives
9.11 Constructions -3D
9.11.1 Company overview
9.11.2 Financial performance
9.11.3 Product benchmarking
9.11.4 Strategic initiatives
9.12 List of Other Prominent Market Players
For more information about this report visit https://www.researchandmarkets.com/r/sxra7i