New York, July 12, 2023 (GLOBE NEWSWIRE) -- The global 3D printing construction market size is set to grow at a CAGR of ~249% from 2023 to 2035. The market for 3D printing construction is estimated to garner a revenue of nearly USD 3710 trillion by the end of 2035, up from about USD 1.4 billion in the year 2022.
The growth of the market can be ascribed to the increasing usage of the 3D printing construction in the various end-use industries including construction, aviation, and automobile sectors. Further, the growing aviation industry and the rising demand for the fast paced manufacturing of the aircrafts across the globe is predicted to boost the market growth during the forecast period. It was found that in the United States, the entire value of aerospace exports as of 2021 was anticipated to be close to USD 90 billion, while in Canada, it was estimated to be close to USD 10 billion in the same year.
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Furthermore, as most of the interior brackets of an aircraft are for the structural purpose its being constructed using 3D printing techniques to meet the exact required specification and as the need for prototyping each and every element is increasing, many designers and architectures relying more on 3D printing construction and this factor is considered to be a major growth factor for the expansion of the market over the forecast period.
3D Printing Construction Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- Building segment to garner the highest growth
- Market in North America to grow at a highest rate
Significantly Expanding Construction Sector to Boost Market Growth
Owing to its ability to turn a computer image into a real model, 3D printing is crucial in the building sector. Utilizing materials including concrete, metal, polymer, and other materials, customized 3D printers can create a real-time 3D model. The use of 3D printing helps designers and architects develop any complex design while avoiding labor that is time-consuming, expensive, and intensive. Hence, this higher demand for 3D printing construction techniques in the construction sector, backed by the rising construction industry across the world, is predicted to propel market expansion over the projected time period. It was noted that the revenue of the American construction sector was valued at over USD 2 trillion in 2021, and it is anticipated to increase even more in the following year. In addition to this, the growing urbanization and the rising need for residential, commercial, and sanitation facilities are anticipated to boost market growth during the forecast period. The government of India's Swatch Bharat Mission scheme was found to have built more than 100 million individual household latrines by 2022.
Robotics Adoption and the Expansion of the Automotive Sector to drive growth in the Asia Pacific region
The 3D printing construction market in the Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The growth of the market can be attributed to the increasing adoption of next-generation technologies in the region, including robotics and automation. For instance, in 2021, Asia Pacific witnessed the installation of around 70% of the newly designed robots. In addition to this, with the increasing adoption of 3D printing in the automotive sector, automobile designers may swiftly create a prototype of a tangible component or assembly, be it a scale replica of the entire vehicle or a straightforward interior component. Hence, the increasing usage of the product in the automobile industry, backed by the expanding automotive sector in the region, is predicted to fuel the market growth during the forecast period. It was noted that China sold around 5 million commercial vehicles and roughly 22 million passenger cars in 2021, while India sold about 4 million passenger and commercial vehicles in the same year. Moreover, the rising adoption of robotics and automation by the automobile industries in the region to improve and enhance the productivity and quality of their products is predicted to accelerate market growth over the upcoming years.
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Growing Urbanization and Expanding Building Needs to Drive Growth in North America
The 3D printing construction market in North America is estimated to garner the highest CAGR by the end of 2035. The growth of the market can be attributed to the increasing urbanization of the region. It was noted that a little over 82.5% of Americans lived in cities and other metropolitan regions in 2020. In 2021, the urbanization rate in the US was 0.25%, and the overall rate of urbanization increased by 19% throughout the course of the previous ten years. Furthermore, the rising need for buildings, including commercial and residential buildings, in the region is predicted to fuel market growth during the projected time frame. It was found during one of the surveys that the US will have over 5 million multifamily residential buildings, over 5 million single-family homes, close to 40.1 million housing units, and over 5 million commercial buildings in the year 2022, and that number is predicted to increase further owing to the rising population in the region. Additionally, the infrastructure sector is predicted to grow spectacularly during the projection period, which is estimated to increase the usage of 3D printing construction methods. For instance, the construction of railroads, tunnels, sewage systems, water treatment plants, and gas pipelines are just a few of the items that can be designed, prototyped, and built using 3D printing construction. Hence, all these factors are estimated to propel market growth in the region over the forecast period.
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3D Printing Construction Segmentation by End-User
- Building
- Infrastructure
- Others
The building segment is anticipated to hold the largest revenue by the end of 2035. The growth of the segment can be attributed to the growing need for buildings, supported by the increasing spending on building construction across the world. For instance, in 2022, the United States spent over USD 900 billion on residential building and USD 500 billion on non-residential development. Further, the increasing rate of population across the globe is anticipated to boost the demand for buildings & 3D printing construction market. As of 2022, the global population is expanding at a pace of roughly 0.85 percent per year. The population of the world is projected to rise by almost 2.1 billion people over the course of the next 30 years, from the present 8.1 billion to 9.5 billion in 2050. Furthermore, the increasing need for various sanitation facilities and the growing popularity of entertainment zones among metropolitan cities are predicted to drive segment growth over the upcoming years. The annual cost of constructing and maintaining public entertainment places, including parks, beaches, and other recreational facilities, costs the USA around USD 731 billion annually.
3D Printing Construction Segmentation by Material
- Concrete
- Metal
- Composite
The concrete segment is anticipated to hold the largest revenue by the end of 2035. The growth of the segment can be attributed to the growing consumption of concrete in the construction industry. Further, cement and concrete are the key ingredients in developing any building or constructing any facility. It was noted that demand for cement and concrete is on a continuous rise among the construction sector, and the United States has experienced a steady rise in cement and concrete consumption, which was more than 108 million metric tons in 2021, and this number is predicted to rise furthermore during the forecast period owing to the expanding construction industry across the world. It was noted that the Australian construction sector has generated close to USD 359.8 billion in revenue and is projected to grow at a rate of 2.5% during the forecast period. In addition to this, the growing demand for modern architectural homes and offices and the increasing investment by the key market players in developing more cost-effective concrete and concrete variants to meet the rising demand for innovative construction products are predicted to drive the segment growth of 3D printing construction market over the ensuing years.
3D Printing Construction Segmentation by Construction Method
- Extrusion
- Powder Bonding
- Others
Few of the well-known market leaders in the 3D printing construction market that are profiled by Research Nester are, and other key market players.
Recent Development in the Global 3D Printing Construction Market
- The biggest 3D printing construction projects in the US will include contributions from COBOD International A/S. CIVE and Peri are responsible for creating and developing the building projects. For each project, COBOD INTERNATIONAL A/S has provided a BOD2 3D building printer.
- Austin, Texas-based ICON Technology, Inc. will debut House Zero, a 3D-printed home. The new 3D-printed housing genre, called House Zero, has been identified by the corporation. Additionally, Lake Flato Architects and ICON Technology, Inc. worked together to build the company's Exploration Series.
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