SAN FRANCISCO, Nov. 11, 2020 /PRNewswire/ -- The global3D printing construction market size is expected to reach USD 1.50 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 114.8% from 2020 to 2027. 3D Printing is also referred to as Additive Manufacturing (AM), as it involves the successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.
Key suggestions from the report:
The extrusion construction method led the market and accounted for more than 60% share of the global revenue in 2019.
Concrete led the market and accounted for more than a 30% revenue share in 2019. The segment is anticipated to continue leading the market over the estimated duration.
The key players operating in the market include XtreeE, Yingchuang Building Technique, Monolite UK, Apis Cor, CSP s.r.l., Sika, CyBe Construction, Contour Crafting, and ICON
In December 2017, Yingchuang Building Technique completed a 3D printed bus stop, the first of its kind, in Jinshan Garden, China. The bus stop was made using recycled waste material.
The use of 3D printing is increasing in the building sector to construct very complex structures with computer-programmed software. It offers more incredible speed for constructing, higher accuracy, and lower labor costs. Growing environmental concerns are driving market players and governments towards the adoption of 3D printing for construction. This technology is expected to assist in waste reduction as it uses eco-friendly construction materials. The technology is also successful in dangerous and harsh environments and can help minimize workplace casualties.
Asia Pacific accounted for the largest revenue share in 2019 and is expected to maintain its lead over the forecast period. This large market share and regional growth can be accredited to the lucrative opportunities in the construction sector in the Asia Pacific region. As the region is establishing itself to become a global manufacturing hub, the technology is anticipated to gain significant traction over the forecast period. China and Japan are prominent countries having the potential to offer extensive opportunities to the emerging as well as mature technologies such as 3D printing construction. The numerous manufacturing industries are contributing to the growth and prosperity of the region's overall economic development.
Grand View Research has segmented the global 3D printing construction market based on the construction method, material type, end-user, and region:
3D Printing Constructions Method Outlook (Revenue, USD Million, 2016 - 2027)
3D Printing Constructions Material Type Outlook (Revenue, USD Million, 2016 - 2027)
3D Printing Constructions End-user Outlook (Revenue, USD Million, 2016 - 2027)
3D Printing Constructions Regional Outlook (Revenue, USD Million, 2016 - 2027)
The Middle East & Africa
List of Key Players of 3D Printing Construction Market
Smart Office Market– Furthermore, increasing need for incorporating security devices, such as cameras and electronic locks, in offices has opened doors for numerous growth opportunities in the market.
Smart Airports Market– The growth can be attributed to the rising adoption of digital technologies across the world, which has led to digital transformation and expansion of personalized experiences offered to passengers.
Air Quality Monitoring System Market– Rising levels of pollutants in the atmosphere as well as stringent government norms and regulations for monitoring pollution are likely to drive product demand.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.