The report "3D Concrete Printing Market Product Type (Walls, Floors & Roofs, Panels & Lintels), Concrete Type (Ready-Mix, High-Density, Precast, Shotcrete), Software (Design, Inspection, Printing), End-Use Sector (Architectural, Industrial, Domestic) - Forecast to 2021", The 3D concrete printing market is projected to grow from USD 24.5 Million in 2015 to USD 56.4 Million by 2021, at a CAGR of 15.02%.
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The 3D concrete printing market is projected to witness significant growth in the next few years with the increasing demand for new constructions all over the world due to rapid urbanization and industrialization with increased investments in the infrastructural developments in emerging markets. The 3D concrete printing process saves between 30% and 60% of construction waste, can reduce production time by 50% to 70%, and reduce labor costs by 50% to 80%. Growing interest in green construction and the significant savings that 3D concrete printing provide, compared with traditional buildings methods, have increased the demand for this technology.
Use of walls in construction sector is projected to increase during the forecast period
Walls made using 3D concrete printers are capable of creating concrete objects with great detail and precision, making it possible to conveniently construct advanced concrete walls with the push of a button. Moreover, walls that are constructed on-site using 3D concrete printer result in zero waste and are less time consuming. Thus, walls are account for a large share in the construction sector as compared to other product types. 3D concrete printing uses energy-efficient technologies, which has gained increased momentum and exposure in the construction market. Potential advantages of 3D concrete printing include quicker construction, lower labor cost, and lesser waste generation.
Domestic construction segment is projected to be the fastest-growing segment of 3D concrete printing market during the forecast period
3D concrete printing market, by end-use sector, is classified into three segments, namely, domestic construction, industrial construction, and architectural construction. The domestic construction segment accounted for the largest market share in 2015 due to the rising demand in residential and commercial construction, increasing demand for ecofriendly and smart constructions, increased investment in commercial developments, and growing urbanization. 3D concrete printing is transforming the domestic construction segment, with a less expensive process and affordable housing solutions. Lower material usage and lower labor costs create a less expensive construction method, which in turn creates lower-cost buildings.
Asia-Pacific to play a key role in the 3D concrete printing market
The growth in Asia-Pacific region is driven by factors such as the rising environmental concerns, increasing awareness towards sustainable construction, efforts towards standardization, expanding application segments, increasing urbanized population in China and India, along with the growth in disposable income in these countries are driving the growth of the Asia-Pacific 3D concrete printing market.
At a global level, companies such as DUS Architects (the Netherlands), Fosters+Partners (U.K.), and WinSun Global (China) are providing 3D concrete printing services. Large construction players such as LafargeHolcim (France), Balfour Beatty PLC (U.K.), Kier Group PLC (U.K.), and Carillon PLC (U.K.) have scope to enter into 3D concrete printing services.
The scope of the report covers detailed information regarding the major factors influencing the growth of the 3D concrete printing market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been conducted to provide insights into their business overview, products & services, key strategies, new product launches, agreements, and recent developments associated with the 3D concrete printing market.
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