3D Printing Construction Market Size, Share and Trend Analysis Report by Construction Method, Material Type, End User, Region and Segment Forecast, 2021
3D Printing Construction Market Size, Share and Trend Analysis Report by Construction Method (Extrusion, Powder Bonding), Material Type, End User (Building, Infrastructure), by region and segment forecast, 2021-2028
New York, Aug 05, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Publication of the “3D Printing Construction Market Size, Share and Trend Analysis Report by Construction Method, by Material Type, By End User, By Region and Segment Forecast, 2021 – 2028 “- https://www.reportlinker.com/p06106870/?utm_source=GNW
Growth and trends in the 3D printing construction market
The global 3D printing construction market size is expected to reach $ 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 socket of growing awareness of 3D printing techniques in the construction industry and the significant increase in green building projects globally. Various advantages offered by the technology, including increased construction speed, reduced costs and waste, reduced on-site accidents and flexibility in creating complex architectural forms, are also driving its adoption in industry. construction.
The funding received by the 3D printing construction suppliers from the respective governments for the development of space construction systems is expected to create new opportunities for market growth in the coming years. For example, in October 2020, ICON Technology, Inc. announced that it had secured a government contract called Small Business Innovation Research (SBIR) and funding from NASA to conduct a space construction project called “Project Olympus” on the Moon. In this project, ICON Technology, Inc has partnered with BIG and SEArch +, a company specializing in space exploration, to develop lunar structures from material available on the Moon.
The use of 3D printing technology in the construction industry can reduce the number of workers required on site, which can eventually solve the problem of manpower shortage, especially in countries where the 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 the labor is cheaper.
Additionally, people using specialized 3D construction printers need proper training, which could increase the overall cost of a project.
The outbreak of the COVID-19 pandemic has negatively impacted the growth of the market as supply chains have been disrupted and several construction projects have been blocked due to lockdowns imposed by various governments around the world. Construction companies depend on the supply of equipment and raw materials from their suppliers. .
However, as several governments have restricted the movement of goods locally and across the border, companies have had to halt construction activities, given the blocked supply of raw materials and equipment.
Highlights of the 3D Printing Construction Market Report
• Extrusion segment is expected to experience the highest growth due to the introduction of extrusion-based 3D printers by companies operating in the 3D printing construction space.
• Concrete segment is expected to experience the highest CAGR during the forecast period. The growth of the segment can be attributed to the increase in demand for 3D printed concrete forms, as they require less skilled workers than conventional concrete construction.
• The building segment dominated the market in 2020 and is expected to show similar trends during the forecast period. The growth of the segment can be attributed to the increase in the need for homes around the world
• Asia-Pacific regional market is expected to experience the highest CAGR due to increasing industrial expansion and development in emerging economies in the region.
Read the full report: https://www.reportlinker.com/p06106870/?utm_source=GNW
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