According to a report released by market research company Markets and Markets the 3D concrete printing market is projected to grow at a CAGR of 15.02% to a value of $ 56.4 Million by 2021.
Due to saving of construction waste (30 to 60%), reduced labor costs (50 to 80%), less production time (50 to 70%) along with the rapid urbanisation and industrialisation, 3D concrete printing is forecasted to witness a significant growth in the next few years.
The report outlines that the use of walls in the construction sector is projected to increase during the forecast period. While 3D printed walls do not only offer a greater freedom of design, they also reduce waste due to being constructed on site and are less time consuming.
Out of the three end-user segments domestic, industrial and architectural construction, the domestic segment accounts for the largest market share in 2015, with the growing demand in residential and commercial construction. Additionally the rising demand for eco-friendly and smart constructions, the increased investment in commercial developments as well as the growing urbanisation contribute to that fact. Being are less expensive construction method, 3D concrete printing allows for more affordable housing solutions.
According to Markets and Markets, the Asia-Pacific region will play a key role:
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.
Among the companies that are already offering 3D printing concrete services are DUS Architects from the Netherlands, Fosters+Partners from the U.K. and WinSun Global from China. Larger Construction companies including LafargeHolcim, Balfour Beatty, Kier Group and Arillion have the scope to enter into the services, says the report.