Construction 3D printing market in 2020 was valued at $7bn
Pantheon Development has announced that it is in talks with global specialists in the 3D construction sector for the development of a 10-storey tower in the UAE. The move follows the growing adoption of 3D technology in designing and building construction projects, the company said in its statement.
Speaking about the project, Pantheon Development’s chairman Kalpesh Kinariwala said, “Talks are on with three companies from the US and Europe for getting their proposals for a 10-storey building. But first we have to make sure that the project is scalable, as without that factor, building one stand-alone building will make it costly and commercially unviable.”
He added, “There is a growing demand for building 3D housing units across the globe, encouraged by the benefits afforded by the technology.”
Last year, 3D printing in the construction market was valued at $7bn, with a projected compound annual growth rate (CAGR) of 91.5% through to 2028, said Kinariwala, citing recent research.
He explained, “The growing adoption of 3D technology in designing and building a wide range of construction projects is mainly due to the accuracy and quality it delivers, along with the cost efficiencies it provides.”
In addition, 3D printing could help contribute to solving housing shortages, provide relief to those affected by calamities and disasters, and even address the construction labour deficiency in some developing countries.
Kinariwala pointed out that Dubai was well-positioned to be a leader in the global construction market using 3D technology. He concluded, “The emirate has actively promoted 3D printing in construction, with a target seeking to have 25 per cent of its buildings being constructed using the technology by 2030, as part of its aspirations to be a regional and international hub for 3D printing technology.”