Impact of COVID-19 on the Global 3D Concrete Printing Market
COVID-19 has severely impacted the construction industry, mainly due to the capital shortages caused by the lockdowns and halted construction projects. The fresh investments flowing into the building of commercial as well as residential construction projects across the globe has declined drastically during the pandemic, leading to reduced demand, cash flow constraints, and unemployment. Similar is the case with developed projects. The construction industry has witnessed fluctuations in retail demand, leading to falling incomes from rentals. Many organizations have adopted remote working policies reducing the need for office spaces and minimizing their recurring costs. This scenario is raising concerns among commercial space owners and is expected to have adverse effects on the industry if not mitigated with appropriate planning. Government authorities are working on formulating appropriate measures to support the industry. Furthermore, the rapid fall in land prices by over 30% is expected to benefit builders and developers. Also, support from the banking sector to the construction industry is likely to attract potential property buyers in the coming future.
The global impact of COVID-19 has benefitted the 3D concrete printing technology industry. The unavailability of workers and other employees has severely impacted the construction industry, leading to heavy losses. However, 3D printing technology is proving to be a boon in such a crisis. For instance, the 3D printed quarantine booths by Shanghai-based Winsun Building Technique Co. Ltd. are used to isolate the infected patients at Xianning, Hubei and Rizhao, Shandong regions. These booths are made from recycled industrial residue and other construction materials and are designed to tolerate severe environmental conditions, including winds and earthquakes. These booths have concrete walls three times tougher as compared to the traditional ones.