As per Market Research Future (MRFR), the global 3D concrete printing market is estimated to reach USD 69.9 million with a CAGR of 14.05% from 2015 to 2023 (forecast period). The report shows the market opportunities and the market implications that arose as a result of the COVID-19 pandemic.
3D concrete printing is a building technology that uses computer-operated robots to print 3D structures for buildings and other infrastructure. Software like AutoCAD or SolidWorks is used to per-program the path of the printer. The concrete that is fed to the printer is dispensed by the nozzle layer-by-layer in the pre-programmed desired path. For 3D printing, different types of concrete with varying types of material composition are used.
Market Dynamics
The time-saving and cost-effectiveness of 3D concrete printing has increased the contribution to building development. Furthermore, its characteristics for the construction of complex building geometries, safety, precision, and waste reduction have increased the construction of complex construction structures at a reasonable pace. In addition, rapid urbanization and demand for affordable housing with architectural flexibility are boosting the market growth of 3D concrete printing. The building and construction industry has increased in terms of investment in infrastructure projects contributing to a positive expectation of the overall growth in the 3D concrete printing market.
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COVID-19 Impact on the Global 3D Concrete Printing Market
COVID-19 has had a significant effect on the construction industry, primarily due to capital shortages triggered by lockdowns and halted construction projects. New investments in both commercial and residential building projects across the globe have deteriorated sharply since the pandemic, leading to decreased demand, cash flow constraints, and unemployment. Similar is the case with the developed projects. The construction industry has seen fluctuations in retail demand, contributing to a decrease in rental income. Many organizations have adopted remote working policies that reduce the need for office space and decrease their recurring costs. This scenario raises concerns among commercial space owners and is anticipated to have adverse effects on the industry if not lessened with appropriate planning. Government authorities are working on the formulation of effective steps to help the industry.
Moreover, the rapid fall in land prices by more than 30% is expected to favor builders and developers. In addition, support from the banking sector to the construction industry is likely to draw potential property buyers in the future.
The 3D concrete printing technology industry has benefited from the global effects of COVID-19. The unavailability of workers and other employees has had a significant effect on the construction industry, resulting in severe losses. Nevertheless, 3D printing technology is proving to be a blessing to such a crisis. For example, the 3D-printed quarantine booths by the Shanghai-based Winsun Building Technique Co. Ltd. are used to isolate infected patients in the Xianning, Hubei, and Rizhao regions, Shandong regions. These booths are constructed from recycled industrial residues and other construction materials designed to withstand extreme environmental conditions, including winds and earthquakes. These booths have concrete walls that are three times stronger than the conventional ones.
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Market Segmentation
The global market for 3D concrete printing has been segmented based on concrete type, application, and end-use.
By concrete type, the global market has been segmented into ready-mix concrete, shotcrete, precast concrete, and high-density concrete. Ready Mix Concrete earned the highest market share of 36.26% in 2016, with a market value of USD 10.2 million. Precast Concrete held the second-largest market in 2016, estimated at USD 9.0 million in 2016; it is predicted to rise at a CAGR of 13.49%.
By application, the global 3D concrete printing market has been segmented into residential, industrial, agriculture, and others. The residential segment earned the largest market share of 37.29% in 2016. It is also the fastest rising application segment owing to the increasing population and urbanization. There has been a change in population in urban areas, especially in developing countries. This shift leads to an increase in demand for homes and residential complexes. This is pushing the market for 3D concrete printing in the coming time. The segment is expected to rise at a CAGR of 15.35% during the forecast period. Industrial was the second largest sector in 2016, estimated at USD 8.7 million in 2016; the CAGR is expected to rise by 13.43%.
By end-use, the global market has been segmented into walls, roofs, floors, and staircases. Walls held the largest market share of 32.60% in 2016. The walls in 3D concrete printing are one of the most significant which are pre-fabricated either on-site or in the factory. The 3D concrete printer is based on the notions of contour crafting, which is a process in which 3D prints large-scale objects layer by layer. The segment had the largest market share of 33% in the global 3D concrete printing market in 2016. The roof was the second-largest market in 2016, estimated at USD 8.3 million in 2016; it is predicted to rise at a CAGR of 13.90%.
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Regional Analysis
Region-wise,the global 3D concrete printing market has been segmented into North America, Asia Pacific, Europe, and the rest of the world.
North America dominates the market for 3D concrete printing. North America gained the largest market share of 35.63% in 2016, with a market value of USD 10.0 million and rising at a CAGR of 14.20% during the forecast period. Growing consumer demand for green buildings and sustained investment in commercial real estate are factors pushing market growth in the North American region. The U.S. is the most influential market for 3D concrete printing in North America. Europe is the second-largest 3D concrete printing market in the world. It had a market share of 29.4% in 2016, with a valuation of USD 82 million, and is predicted to rise at a CAGR of 13.20% during the forecast period.
The Asia Pacific region is projected to be the fastest-growing region for 3D concrete printing. An increase in industrialization, growing urbanized population, and an increase in expenditure capacity are factors driving market growth in the Asia Pacific region. It had a valuation of USD 6.0 million in 2016 and is projected to grow at a CAGR of 14.51%.
Key Players
The industry giants in the global 3D concrete printing include Dus Architects (The Netherlands), Cybe Construction (The Netherlands), Winsun Global (China), Balfour Beatty (U.S.), Skanska AB (Sweden), Foster + Partners (London), LafargeHolcim Ltd (Switzerland), Sika AG (Switzerland), HeidelbergCement AG (Germany), and Apis Cor (Russian Federation).
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