Analysis by Material (Concrete, Metal, and Composite); by Construction Method (Extrusion, Powder Bonding, and Others); and by End-User (Building, Infrastructure, and Others) - Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
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The total spending in the global construction industry was estimated to reach around USD 12 trillion in 2023 while the spending is further projected to drop to about USD 20 trillion by the year 2035.
In the construction industry, 3D printing is essential since it can create a physical model of a digital image. In 3D printing, specialized 3D printers are used that can manufacture a real-time 3D model by using materials such as, concrete, metal, polymer, and others. 3D printing assists designers and architects to build any complex design and it also avoids labor expensive and is intensive. Hence, such a higher demand is anticipated to drive the growth of the market over the forecast period.
It was observed that about 375,000 new robots are launched in the market annually while approximately 85% of the companies are noticed to be adding robotics in their working infrastructure.
As of 2021, automobile sale across the globe was anticipated to be around 65 million units.
For instance, in 2022, the global jewelry segment was estimated to reach approximately USD 250 billion.
The global 3D printing construction market is segmented and analyzed for demand and supply by end-user into building, infrastructure, and others, out of which, the building segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the escalating spending on the construction of buildings. For instance, in 2022, residential and nonresidential construction received total spending of around USD 900 billion and USD 500 billion respectively in the United States.
The global 3D printing construction market is estimated to garner a revenue of USD 3709.51 trillion by the end of 2035 by growing at a CAGR of ~248.90% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 1.4 billion in the year 2022. The growth of the market can primarily be attributed to the higher demand in the aerospace industry owing to the rising aerospace export/import volume. As of 2021, the total export volume of aerospace in the United States reached nearly USD 90 billion while in Canada, it was estimated to hit approximately USD 10 billion.
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Global 3D printing construction market trends such as, growing demand for robotics and respective technological advancement are projected to influence the growth of the market positively over the forecast period. For instance, around 2.5 million industrial robots were noticed to be functioning in factories. Moreover, the growing manufacturing of automobiles, such as commercial and passenger vehicles, is further expected to increase the growth of the market over the forecast period. It was observed that in 2022, approximately 200 million vehicles including three & two-wheelers, commercial, passenger, and others were sold out across the globe. Hence, all these factors are expected to hike the growth of the market during the forecast period.
Regionally, the global 3D printing construction market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed to the higher manufacturing and adoption of robotics and the growing automotive industry. For instance, in 2021, approximately 70% of the newly developed robots were installed in Asia Pacific. Therefore, such factors are expected to propel the growth of the market over the forecast period.
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The global 3D printing construction market is further classified on the basis of region as follows:
Our in-depth analysis of the global 3D printing construction market includes the following segments:
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: Rapidly developing construction industry to boost the market growth are estimated to majorly boost market growth.
Ans: The market is anticipated to attain a CAGR of ~248.90% over the forecast period, i.e., 2023 – 2035.
Ans: Constant need for the maintenance of 3D printers is estimated to challenge the market growth.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are COBOD INTERNATIONAL A/S, ICON Technology, Inc., Yingchuang Building Technique (Shanghai) Co. Ltd., Contour Crafting Corporation, Apis Cor Inc., Sika AG, CyBe Construction B.V., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by material, construction method, end-user, and by region
Ans: The building segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities
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