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The 3D printing construction market will reach over $508.07 billion by 2031 – exclusive report from InsightAce Analytic
InsightAce Analytic Pvt. Ltd. Announces the release of a market assessment report on “Global 3D Printing Construction Market Size, Share & Trends Analysis Report by Construction Method (Extrusion, Powder Bonding), Material Type (Concrete, Metal, Composite) and End User (Buildings and Infrastructure) – Market Outlook and Industry Analysis 2031”
The global 3D printing construction market is estimated to reach over $508.07 billion by 2031, registering a compound annual growth rate of 69.10% during the forecast period.
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3D printing creates complex shapes and structures from materials such as concrete, plastics and metals. This technology is particularly useful for creating custom designs and structures that require more than traditional construction methods. One of the main benefits of 3D printing construction is its ability to reduce waste and improve sustainability. Close control of material consumption means less waste and the ability to use recycled materials further improves the environmental impact of construction.
Another advantage of 3D printing construction is its speed and efficiency. Depending on size and complexity, structures can be printed in hours or days, significantly reducing construction time and labor costs. Although 3D printed construction has the potential to be more cost-effective than traditional construction methods, the technology and materials can be expensive. There is also a need for more skilled workers and expertise in the field, which may result in higher costs.
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List of Prominent Players in 3D Printing Construction Market:
• Apis Cor
• Beijing Huashang Luhai Technology
• Betabram
• COBOD International A/S
• 3D construction
• Contour Crafting Corporation
• CyBe construction
• ICON Technology, Inc
• Imprimerie AG
• Monolite UK
• MX3D
• Rohaco
• You don't
• Spetsavia
• Custom totals
• WASP SrI
• XtreeE
• Yingchuang construction technique
Market dynamics:
Driver-
3D printing technology increases speed, reduces labor costs and accuracy, and improves efficiency. The increasing use of 3D printers in the construction industry for precise prototyping, design and manufacturing of end products while reducing production costs is driving the expansion of the market. Furthermore, increasing adoption of eco-friendly projects worldwide is one of the key elements driving market growth. Construction companies are increasingly using green construction practices and additive manufacturing to reduce costs and produce more energy-efficient structures. Green building uses environmentally friendly methods and materials to develop structures with minimal negative impact on the environment.
Challenges:
The high capital expenditure for 3D printing of buildings is expected to slow market expansion. Additionally, the materials used in commercial and industrial 3D printers are more expensive compared to traditional construction methods. However, many issues, including material limitations, machine limitations and intellectual property rights concerns, may slow market expansion somewhat. Another major factor affecting the market's growth prospects is the need for more skilled workers.
Regional trends:
The 3D printing construction market in Asia Pacific is expected to record a large market share in revenue and grow at a high CAGR soon. Many countries in the Asia-Pacific region are experiencing rapid urbanization and affordable housing is a significant need. 3D printed structures offer a cost-effective and efficient way to quickly build new homes. Governments in countries like China and Singapore are actively encouraging the adoption of 3D printed designs. They have invested in research and development, provided funding and incentives for companies, and encouraged collaboration between industry players.
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Current developments:
• In April 2021, Weber Beamix and BAM began work on a 3D printed concrete pedestrian bridge in the Netherlands. The length of this concrete building will be 29.5 meters. Weber Beamix also intends to build four more 3D printed bridges in the Netherlands.
• In May 2020, civil engineering firm Skanska announced a partnership with Britain's Loughborough University. The aim of this partnership is to accelerate the use of 3D printing technology in the country's construction industry.
Segmentation of the 3D printing construction market –
According to construction method
• Extrusion
• Powder compound
• Others
By material type-
• Concrete
• Metal
• Composite
• Others
From the end user
• Building
• Infrastructure
By region-
North America-
• The USA
• Canada
• Mexico
Europe-
• Germany
• Great Britain
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
•Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East and Africa
• GCC countries
• South Africa
• Rest of the Middle East and Africa
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InsightAce Analytic is a market research and consulting firm that helps clients make strategic decisions. Our qualitative and quantitative market intelligence solutions meet the need for market and competitive intelligence to expand business. We help our customers achieve competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise lies in providing timely and cost-effective syndicated and tailored market intelligence reports with detailed analysis with key market insights.
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This press release was published on openPR.