Global 3D Printing Building Construction Market 2020 COVID-19 Impact, Share, Trend, Segmentation and Forecast to 2026
WiseGuyReports.com adds “Global 3D Printing Building Construction Market Research Report 2020 Analysis and Forecast 2030” reports to its database.
Pune, India – June 29, 2020 /MarketersMedia/ —
3D Printing Building Construction Market:
Executive Summary
The global 3D printing building construction market is expected to decline from $0.004 billion in 2019 to $0.002 billion in 2020 at a compound annual growth rate (CAGR) of -35.76%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $0.12 billion in 2023 at CAGR of 147.79%.
The 3D printing building construction market consists of the sales revenue earned by entities (organizations, sole traders, and partnerships) that construct buildings through 3D printers and offer related services. 3D printing or additive manufacturing is a computer-controlled sequential layering of materials to create three-dimensional shapes. In the construction industry, 3D printing is used to build components of building or to create a whole building. It helps to construct faster and more accurate structures with reduced labour costs and less wastage.
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The Asia Pacific was the largest region in the 3D printing building construction market in 2019.
In January 2019, Apis Cor, a company engaged in 3D printing in construction, announced a strategic collaboration with Gerdau, supplier of long and special steel worldwide. The collaboration is aimed at accelerating Apis Cor’s ability of 3D printing in the construction industry in the USA and South America. Gerdau previously supported Apis Cor in the “3D printing habitat challenge” organized by NASA. Gerdau was founded in 1901 and is a long steel producer based in Brazil.
The 3D printing building construction market covered in this report is segmented by construction into modular; full building. It is also segmented by process into extrusion; powder bonding; others, by printing material into concrete; plastic; metal; hybrid; others and by end user into residential; commercial; industrial.
A high initial capital investment requirement is anticipated to impact the growth of the 3D printing building construction market over the coming years. The high cost of 3D printers and their maintenance is a major challenge for industry players. According to Winsun 3D Builders, a 3D printing construction company, the high initial investment of 3D concrete printers is currently at a level that requires high capital and decent construction projects in order to support small and medium companies to overcome the capital requirements for expansion and growth. The requirement of high initial capital to set up the process is expected to hinder the growth of the 3D printing building construction market in the forecast period.
Increasing flexibility in 3D printing operations using advanced software is a major trend shaping the growth of the 3D printing building construction market. In November 2019, AMFG, a UK-based provider of MES software, announced the strategic partnership with EOS to enable machine connectivity and end-to-end workflow automation for additive manufacturing. The companies together plan to offer customers the management of their entire additive manufacturing operations with AFMG’s Manufacturing Execution System (MES) and direct connectivity to machines with the software platform. EOS is a technology supplier in the field of industrial 3D printing of polymers and metals.
The capability to build complex structures within a stipulated time for a reasonable cost is a major factor driving the demand for 3D printing building construction market. 3D printing building construction is cost-effective, saves time, provides more precision, safe, cuts labour costs, is environmentally friendly, and easily helps build complex building structures. According to 3D Natives Magazine published in January 2018, 3D printing in construction is economical in terms of material usage when compared with the traditional manufacturing process. Moreover, 3D printing reduces the labour costs by 50%-80%, production time by 50%-70%, and construction waste by 30%-60%. Therefore, the economic benefits offered by 3D printing construction is expected to significantly boost the market growth.
Major players in the 3D printing building construction market are XtreeE, Winsun (Yingchuang Building Technique), Skanska, Apis Cor, Al build, Branch Technology, Zhuoda Group, Cazza Construction Company, and Contour Crafting Corporation.
Continuous…
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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