Covid-19 Impact on 3D Printing Construction Market to See Strong Expansion Through 2028

Stratview Research releases a new insightful report on the 3D Printing Construction Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.
Market Insights

According to the present report, the 3D Printing Construction market was estimated at USD 0.03 billion in 2021 and is likely to grow at a CAGR of 146.64% during 2022-2028 to reach USD 18.91 billion in 2028.

COVID-19 Impact
The impact of the global pandemic Covid-19 was felt across all industries in every field. Worldwide lockdowns and restrictions resulted in a complete standstill in construction. As a result, the 3D printing construction market saw a significant decline due to Covid-19.

What is 3D Printing Construction?
3D printing construction refers to various technologies that use 3D printing to fabricate buildings or construction components. 3D printing construction is majorly used for building complex components for private, commercial, and industrial construction. It provides advantages such as lower labor costs, faster construction, and higher accuracy.

3D printing construction is done with different materials such as concrete, metal, composite, and others. They are constructed through different construction methods such as extrusion and powder bonding.

Market Drivers
The growing demand for 3D printing construction is mainly due to its various advantages such as-
• Less construction time,
• Cost-effectiveness,
• Flexibility,
• Less an occurrence of an error,
• Great precision.

Key players mentioned in the report are -
Some of the major players mentioned in the report are listed below-
• Yingchuang Building Technique
• XtreeE
• Apis Cor
• Monolite UK
• CSP s.r.l.
• CyBe Construction
• Sika

Market Segments Analysis
Based on the construction method type, the market is segmented into extrusion and powder bonding. The extrusion segment held the larger share of the market in 2021 and is expected to remain dominant during the forecast period owing to its superior characteristics, such as less construction time, fewer chances of error, and cost-effectiveness. Through the extrusion process building components with complex geometrical structures can be constructed.

Based on the material type, the market is segmented as concrete, metal, composite, and others (foam, plastic, gypsum, and geopolymer). The concrete segment is expected to remain dominant during the forecast period owing to its various advantages, such as environmental resistance, compressive strength, cost-effectiveness, and design flexibility.

Based on the end-use sector type, the market is segmented into building and infrastructure. The building segment leads the market. The growth can be attributed to the increase in population, which is giving rise to the construction of new houses in the urban and sub-urban areas globally, an upsurge in the construction of non-residential buildings and institutes is also a major reason for the dominance of this segment.

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest growing market during the forecast period, owing to the presence of a large number of manufacturers in the region. China and Thailand are the major markets of the region. The market is majorly driven by an increase in population and a rise in the construction of commercial residential buildings in the region.

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Read More: https://www.stratviewresearch.com/669/3d-printing-construction-market.html

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