Stratview Research releases a new insightful report on the 3D Printing Construction Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.
Market Insights
According to the present report, the 3D Printing Construction market was estimated at USD 0.03 billion in 2021 and is likely to grow at a CAGR of 146.64% during 2022-2028 to reach USD 18.91 billion in 2028.
Market Drivers
The growing demand for 3D printing construction is mainly due to its various advantages such as-
- Less construction time,
- Cost-effectiveness,
- Flexibility,
- Less an occurrence of an error,
- Great precision.
Key players mentioned in the report are -
Some of the major players mentioned in the report are listed below-
- Yingchuang Building Technique
- XtreeE
- Apis Cor
- Monolite UK
- CSP s.r.l.
- CyBe Construction
- Sika
Market Segments Analysis
Based on the construction method type, the market is segmented into extrusion and powder bonding. The extrusion segment held the larger share of the market in 2021 and is expected to remain dominant during the forecast period owing to its superior characteristics, such as less construction time, fewer chances of error, and cost-effectiveness. Through the extrusion process building components with complex geometrical structures can be constructed.
Based on the material type, the market is segmented as concrete, metal, composite, and others (foam, plastic, gypsum, and geopolymer). The concrete segment is expected to remain dominant during the forecast period owing to its various advantages, such as environmental resistance, compressive strength, cost-effectiveness, and design flexibility.
Based on the end-use sector type, the market is segmented into building and infrastructure. The building segment leads the market. The growth can be attributed to the increase in population, which is giving rise to the construction of new houses in the urban and sub-urban areas globally, an upsurge in the construction of non-residential buildings and institutes is also a major reason for the dominance of this segment.
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest growing market during the forecast period, owing to the presence of a large number of manufacturers in the region. China and Thailand are the major markets of the region. The market is majorly driven by an increase in population and a rise in the construction of commercial residential buildings in the region.
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