3D Printing Construction Company SQ4D Got a Boost Amid COVID-19
3D printing construction company SQ4D has seen increased demand amid the COVID-19 pandemic. However, the company isn't publicly traded.
As global supply chains faced massive disruptions due to the COVID-19 pandemic, the manufacturing world took a closer look at 3D printing. SQ4D is a construction company that's poised to change the industry by implementing its ARCS (Autonomous Robotic Construction System) to construct buildings and homes using 3D printing technology.
Currently, SQ4D isn't a publicly-traded company. It's privately held and hasn't discussed any IPO plans. In early 2020, the company built a home in Calverton, N.Y. at a cost of only $6,000 in materials and 48 hours of print time spread over eight days.
Benefits of 3D printing in construction
3D printing is touted as a way to simplify supply chains, reduce waste of excess materials, and save time and money in the construction process.
The traditional manufacturing process is “subtractive,” which Nasdaq explains as taking raw materials and leaving behind whatever excess isn't needed. 3D printing is called "additive manufacturing," which means that it builds layers with minimal waste.
Who owns SQ4D?
Kirk Andersen is SQ4D’s co-founder and owner. He has acknowledged that 3D printing for construction has been met with mixed reviews and skepticism, particularly from skilled tradesmen who would lose work because of this technology.
In an interview with Inman.com, Andersen said that he doesn’t want people to fear automation in construction. Part of his mission is to build houses more affordably. He also sees the potential of using 3D printed homes to help “tackle homelessness, and aid in disaster relief in an eco-friendly way.”
How much SQ4D is worth
SQ4D’s worth isn't known publicly, but the first house built using its 3D technology is being listed for sale at $299,999 in Riverhead, N.Y. It’s a three-bedroom and two-bath home that's 1,500 square feet.
According to SQ4D, its technology can complete building projects three times faster than traditional construction and with a 70 percent reduction in total construction costs.
Nasdaq reported that the market for 3D printing declined somewhat in 2020 to about $12 billion. However, the market is expected to grow to somewhere between $51 billion and $120 billion over the next five years.
3D printing was useful during the coronavirus pandemic. The technology was used to make N95 respirator masks, nasopharyngeal swabs, ventilator valves, and other medical equipment. The global healthcare 3D printing market might see a 19.2 percent CAGR between 2019 and 2026.
3D printed house companies like SQ4D
There are other 3D printing companies similar to SQ4D that are publicly traded on the stock market. Materialise is listed on the Nasdaq under the ticker symbol "MTLS" with a market cap of $3.1 billion. Proto Labs, with a market cap of $4.6 billion, is listed on the NYSE under the ticker symbol "PRLB."
The 3D printing ETF (BATS:PRNT) has been trading since 2016 and tracks an index of various 3D printing stocks.
Apis Cor, BatiPrint, Be More 3D, WASP, and ICON are other companies that manufacture 3D printed houses.
Why SQ4D isn't on the stock market
SQ4D isn't traded on any stock exchange at this time. Andersen said in a recent article in North Forker that he's focused on expanding the company nationally and eventually globally.