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By James Blacker, Benzinga
The United States is currently facing a severe housing shortage driven by years of underbuilding relative to demand from a growing population. Estimates indicate that the deficit ranges between 4 million and 7 million homes. To put this into perspective, America’s largest homebuilder, D.R. Horton, has built just about 1 million homes during its entire 45 years of operation. Factors contributing to the current dearth of houses include a crippling labor shortage, rising material costs and supply chain issues, all factors that were exacerbated by the COVID-19 pandemic.
The housing crisis has prompted the need for innovative solutions to boost construction rates. The use of 3D printing technology is one potential solution offered by companies such as Apis Cor, who are leading the way in this transformative shift in the construction industry.
A New Way Of Building For A Changing Labor Landscape
The construction industry is short of some 500,000 workers in the U.S. this year. Many workers are retiring, while younger generations are showing less interest in traditional construction roles. This generational shift is not unique to construction but is having a profound impact on many industries.
3D printing technology offers a compelling solution to this problem by automating the construction process and eliminating the need for a large crew. Apis Cor’s technology, for example, requires a maximum crew of just two people to operate, in contrast to a 10-person crew that would be needed for traditional construction methods. Not only does this address the labor shortage issue, but also makes construction more efficient and cost-effective.
Advantages Of 3D Printing In Construction
3D Printing, also known as additive manufacturing, is the construction of three-dimensional objects from digital models by depositing materials in successive layers. In construction, large-scale 3D printers layer materials such as concrete or mortar until the walls are complete. This innovative approach allows for intricate building designs that were previously impossible, opening new possibilities in architectural creativity.
The potential for 3D printing in construction is significant. Not only does it require a smaller workforce, but it can also lower material costs, increase construction speed and optimize logistics. Apis Cor says they can currently 3D print the wall structures for a standard single-family house within five days instead of the weeks that conventional labor-intensive methods typically take.
Apis Cor is eyeing a piece of an industry estimated to be worth over $53 billion by 2032. The company develops proprietary 3D printing technology that it says is capable of printing buildings of any square footage, with a potential cost reduction of up to 30% (which depends on many factors like design and location etc.) compared to conventional construction methods and at triple the speed.
Apis Cor has already printed buildings in Boca Chica, TX, and Melbourne, FL, and aims to bring automated construction to every builder in America. The company has also deployed its printing robots in Dubai, where it reports holding the accolade of constructing the largest 3D-printed building in the world, which is a two-story, 31 ft tall building with 6,400 square feet of living area
One of the most interesting aspects of Apis Cor’s technology is the ability to operate the 3D printers remotely. In a recent test, an operator based in California successfully controlled a printing process happening in Florida. This capability opens the possibility for around-the-clock operation and increased productivity. Remote operation is particularly beneficial for constructing buildings in remote or disaster-stricken areas, where traditional construction teams face logistical challenges, apart from its potential in construction for military operations.
Apis Cor is currently in its pre-IPO stage and has already raised over $3.5 million from over 2,000 investors. For those looking to capitalize on what could be the future of construction, this funding round could be an interesting opportunity to support a company at the forefront of a homebuilding revolution.
Click here to find out more about the company and how to invest.
Featured photo by Binyamin Mellish on Pexels.
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