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Nearly 150% - The 3D Printing Building Construction Market’s Remarkable Growth Rate Through 2023

3D Printing Building Construction Market Global Report 2020-30: Covid 19 Growth And Change

3D Printing Building Construction Market Global Report 2020-30: Covid 19 Growth And Change

The Business Research Company’s 3D Printing Building Construction Market Global Report 2020-30: Covid 19 Growth And Change

LONDON, GREATER LONDON, UK, November 23, 2020 /EINPresswire.com/ -- The capability to build complex structures within a stipulated time for a reasonable cost is a major factor driving the demand for the 3D printing construction market. 3D printing building construction is cost-effective, saves time, provides more precision, safe, cuts labor costs, is environmentally friendly, and easily helps build complex building structures. According to 3D Natives Magazine published in January 2018, 3D printing in construction is economical in terms of material usage when compared with traditional manufacturing processes. Moreover, 3D printing reduces labor costs by 50%-80%, production time by 50%-70%, and construction waste by 30%-60%. Therefore, the economic benefits offered by 3D printing construction is expected to significantly boost the market growth.

To define the market, 3D printing, also known as additive manufacturing, is a computer-controlled sequential layering of materials to create three-dimensional shapes. In the construction industry, 3D printing is used to build components of building or to create a whole building. It helps to construct faster and more accurate structures with reduced labor costs and less wastage, as explained above.

The global 3D printing building construction market size is expected to decline from $4 million in 2019 to $2 million in 2020 at a compound annual growth rate (CAGR) of -35.76%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $120 million in 2023 at an incredible CAGR of 147.79%.

Increasing flexibility in 3D printing operations using advanced software is a major trend shaping the growth of the 3D printing building construction market. In November 2019, AMFG, a UK-based provider of MES software, announced the strategic partnership with EOS to enable machine connectivity and end-to-end workflow automation for additive manufacturing. EOS is a technology supplier in the field of industrial 3D printing of polymers and metals. The companies together plan to offer customers the management of their entire additive manufacturing operations with AFMG’s Manufacturing Execution System (MES) and direct connectivity to machines with the software platform. Therefore, such flexibility and software enhances the use of this technology in the construction market.

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