The global 3D concrete printing market is expected to grow with a CAGR of 17.74% during the forecast period
3D concrete printing is a technologically advanced and innovative method used for constructing pre designed building components with the help of 3D concrete printers. The technology holds the promise of substantially optimizing the construction industry in terms of construction cost, time, error reduction, flexibility in design, and environmental impact.
Past experiments have successfully acknowledged the technology’s expertise on all these fronts and the technology is being steadily adopted on a larger scale around the globe.
The field of 3D concrete printing is receiving increased focus from construction companies across the globe. These companies mainly focus on experimenting with different concrete mixes and printing machines to bring about further developments in this construction technique.
With construction companies making continuous efforts to bring 3D concrete printing in mainstream construction, the global 3D concrete printing market is projected to gather significant momentum in the next few years.
Ready mix concrete accounted for the largest market share of 42% in 2019, with a market value of USD 20.56 million. It is used extensively as construction can be sped up, cement consumption can be reduced, along with versatility in uses.
On the basis of end-user, residential segment accounted for the largest market share of 42% in 2019. Also, it is the highest growing application segment in the market due to the increasing population and urbanization.
However, there are certain restraints and challenges faced which will hinder the overall market growth such as high capital investment and altering raw material prices.
Market Dynamics
Drivers
- Economic benefits offered by 3D concrete printing is expected to significantly boost the market growth
- Increasing focus on eco-friendly and smart constructions
Restraints
- High capital cost of printer
Increasing focus on eco-friendly and smart constructions
Construction projects using extruded layers of concrete have highlighted the potential of additive manufacturing for building structures quickly and cheaply. However, concrete manufacturing is responsible for approximately 7% of carbon dioxide emissions according to the International Energy Agency, and cannot be recycled. Hence, scientists have developed a method to 3D-print greener buildings using local soil that has the potential to revolutionize the construction industry. The technology is designed to be a sustainable alternative to concrete.
Hence, with increasing focus on eco-friendly and smart construction, various construction companies are using the 3D concrete printing technology which is expected to drive the market growth.
The Perth, Australia, company is working on a way to make 3D printed houses from hemp-based material that would capture carbon. Mirreco envisions building larger scale structures with CO2 hotspots that will enable companies to offset their emissions in city centers.
Wasp, an Italian firm makes a 3D printed house called Gaia using soil and waste material from rice production as the main ingredients of its building material. The zero-kilometer, zero-waste house comes with natural ventilation and thermal insulation. The company was inspired by the potter wasp and the way it builds its nests. The Crane WASP printer takes about 100 hours to print a house.
In August 2019, A team of UCLA engineers received a $1.5 million grant from the National Science Foundation to develop 3D-printed concrete that incorporates carbon dioxide, a greenhouse gas, as part of a binder. The research team will explore new alternative cements that could cut into this by incorporating carbon dioxide into the manufacturing process. The resulting product could have a carbon footprint of 60% less than current products, according to the research team's estimates.
Geographical Analysis
The South America construction market is estimated to grow at a CAGR of approximately 5% during the forecast period. Despite increasing the foreign trade tension, uncertainty in policies and fiscal pressures that are weighing on the economy of South America, the construction industry will continue to expand during the forecasted period.
The market is expected to observe a growth during the forecast period driven by many projects in infrastructure under the pipeline. The value of infrastructure projects as seen in 2018 is valued at USD YY billion with rail projects valued at USD YY billion.
In January 2020, Brazil reported nearly nine thousand hotel rooms under construction, which made it the leading country in the construction of lodging facilities in Central and South America.
Colombia was the second country in the region with the largest number of hotel rooms under construction, followed by Chile and Peru. In the first quarter of 2020, there were 702 hotel construction pipelines in South America. At that point in time, 324 lodging facilities were already under construction, while 203 more were expected to start construction in the following twelve months.
With growing infrastructure projects, the 3D concrete printing market in South America is expected to grow with a CAGR of 13.434% during the forecast period. Habitas, a hotel brand that uses 3D printing to lower its carbon footprint, is expanding into Saudi Arabia, Mexico and Costa Rica.
Brazil is expected to account for the largest market share in the year 2019. More than 50 million Brazilians live in inadequate housing. The North East State of Pernambuco has the highest housing deficit in Brazil, with 66% of those in need of housing living below the poverty line. Several federal housing programs and projects have been created at the federal level and implemented in several Brazilian cities through the construction of housing estates. The Brazilian startup Urban3D is aiming high to eradicate homelessness within the next 15 years, by revolutionizing the construction industry with the use of 3D printing and robotics. Such initiatives are expected to drive the Brazil 3D concrete printing market.
Moreover, Argentina has a housing shortage of about 2.5 million homes with 78% of those corresponding to repairable housing or overcrowding per room. The remaining 22% pertains to shortfall. The government aimed to build 10,200 homes on public land by mid-2019. With the growing shortage of housing, there are growing opportunities for market players to start 3D concrete building projects in Argentina.
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