The market for 3D printing in the construction industry is expected to grow by nearly 16% between 2017 and 2021, and could reach $314 million by 2023, according to a report by IndustryARC, a market research firm. Construction 3D printing represented almost $130 million in 2017.
“The current business environment has become highly competitive as the leading industries are challenged by the demand for quality, safety, productivity and environmental protection,” according to the report. “Construction 3D printing may allow faster and more accurate construction of complex or bespoke items, as well as lowering labor costs and producing less waste.”
Most of that growth will be in commercial construction, but building growth in the Asia Pacific region may drive increased adoption in residential building, according to the report.
[Related: Software aims to assist building designers in lifecycle assessment]
Danielle Andrus was previously the managing editor for Colorado Builder, and is currently Editor for the Journal of Financial Planning.