Concrete 3D Printing Market to Reach USD 5,083.6 Million by 2028; Build complex building geometries and sophisticated designs to propel growth, according to The Brainy Insights
NEWARK, New Jersey, February 24, 2022 /PRNewswire/ — According to a report published by The Brainy Insights, the global concrete 3D printing market is expected to grow from USD 459 million in 2020 for $5,083.6 million by 2028, at a CAGR of 35.07% during the forecast period 2021-2028.
The ease of constructing different complex architectural designs is the key factor driving the concrete 3D printing market.
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3D Printing Concrete is the most advanced technology to manufacture the construction element and buildings with concrete 3D printers. There are various 3D printing processes, like extrusion process, which includes wax, cement, welding additive, etc., which are used in the construction process. Gradually, 3D concrete printing technology is getting adopted across the world. There are a lot of experiments which are done by the construction companies in terms of different types of concrete mixes and printing machines, to come up with new and better technique in the construction industry. Ease in constructing the various complex architectural designs, eco-friendly technology and reduction in wastage are some of the major reasons propelling this market growth.
Construction companies currently use this technique to build roofs, floors, pavements, slabs, etc. More complex and sophisticated designs are easy to construct, with better accuracy, the construction process is also fast, and the process of this type of construction is less labor-intensive, so it is very efficient to use technologies 3D concrete printing. Various key players are now investing in R&D to develop the type of printing machine, which can be used where large-scale construction takes place. These 3D printers or concrete machines are integrated to form automated and semi-automated production lines, which are used to manufacture complex building structures.
Concrete 3D printing technology seems to have a bright future as key companies are focusing on these technologies, but some companies still have doubts about the technology and its safety, so do not invest in the technology and still focus on the conventional technique. Thus, this lack of awareness and trust deficit factors act as a major constraint for the market.
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Key players in the global concrete 3D printing market include Winsun, XtreeE, Monolite UK, ApisCor, CSP srl, CyBe Construction, Sika, DUS Architects, Fosters + Partners, and Universe Architecture, among others.
- Major players are now focusing on implementing strategies such as joint ventures, product innovations, mergers and acquisitions, partnerships, etc. to gain market share and strengthen its position in the global concrete 3D printing industry. For example, in December 2018, Winsun came up with 3D printing technology to build a house in 24 hours. This technique would take the construction sector in the direction of the digital future.
- In June 2019XteeE secured investment from investment partner TTWiiN and collaborated with Concreative to start a new 3D printing production unit in the UAE, to expand its market share.
The printing services segment accounted for a higher market value of $283.57 million in 2020
The supply segment is divided into printing services and materials. The printing services segment accounts for a higher market value of $283.57 million in 2020. 3D printing of concrete is used in the construction of the building and infrastructure and is used to manufacture automated and semi-automated production lines, which help in the construction of the more complex design building.
The extrusion-based technique segment counts for a higher market value of $321.99 million in 2020
The technical segment includes an extrusion-based technique and a powder-based technique. the extrusion-based technique segment accounts for a higher market value of $321.99 million in 2020. This technique builds a very geometric complex architecture with conventional construction materials.
The building segment represented $293.35 million market value in 2020
The end user segment consists of building and infrastructure. The construction segment represented $293.35 million in market value in 2020. This is due to the growing demand for affordable homes and the growing popularity of complex building structures.
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Regional Segment Analysis of Concrete 3D Printing Market
- North America (WE, Canada, Mexico)
- Europe (Germany, FranceUK, Italy, SpainRest of Europe)
- Asia Pacific (ChinaJapan India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East & Africa (UNITED ARAB EMIRATES, South AfricaRest of MEA)
Regions analyzed for the Concrete 3D Printing market include North America, Europe, South America, Asia Pacificand the Middle East & Africa. Europe region has the highest market value of $177.86 million in 2020. This is due to new residential construction activity taking place in the area. Many residential construction projects are taking place in countries like Russiawhich is driving the concrete 3D printing market in the region. Asia Pacific had the second highest market value of $113.28 million in 2020. The rapid urbanization of emerging economies in the region like India and China create demand for affordable residences, shopping complexes, hospitals and school buildings. The increase in the disposable income of the people in the region has increased their needs, which has created the need for more infrastructure and buildings in the region, laying a solid foundation for the concrete 3D printing market in the region. region.
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About the report:
The global concrete 3D printing market is analyzed on the basis of value (million USD). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s five forces model, attractiveness analysis and competitor position grid analysis.
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About The Brainy Insights:
The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer requirements, whether they are looking to expand or planning to launch a new product in the global market.
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