3D Printing Construction Market Trends

Growth Drivers

• Rapidly Developing Construction Industry to Boost the Market Growth
• 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.
• Growing Utilization in the Development of Robots
• 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.
• Higher Demand in Automotive Industry
• As of 2021, automobile sale across the globe was anticipated to be around 65 million units.
•  Increasing Demand for 3D Printing in Jewelry Designing
• For instance, in 2022, the global jewelry segment was estimated to reach approximately USD 250 billion.

Challenges

• Presence of Alternatives in the Market
• Requirement for Higher Initial Investment
• Constant Need for the Maintenance of 3D Printers
• 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.