Concrete formwork is a temporary structure used in construction to support and mold concrete until it sets and hardens. It is an essential element in construction, particularly in building high-rise and large-scale structures. Concrete formwork is typically made of plywood, timber, aluminum, steel, or plastic.
The global concrete formwork market has been steadily growing and is projected to reach $10,049 million by 2022. The market is expected to grow at a compound annual growth rate of 2.3% from 2017 to 2022. The growth is attributed to the increasing demand for high-rise buildings and the construction of large-scale infrastructure projects in emerging economies.
The global market can be segmented based on its applications that include buildings, transportation, industrial facilities, and others. Buildings account for the largest share of the market as they require specialized concrete formwork to create complex designs. Transportation and industrial facilities are also significant applications for concrete formwork, particularly for bridges and tunnels.
The market for concrete formwork is highly competitive, with numerous global players competing to gain market share. ULMA, APA Wood, PERI, MetsaWood, Tekla, Ceco Concrete Construction, Ballygorman, Form Tech, Hunnebeck, Formwork Aluma, K-Form, Sadef, EFCO, Form Direct, and MEVA are the major global manufacturers in this industry. These manufacturers are constantly innovating and upgrading their products to meet the growing demand for sustainable and efficient concrete formwork systems.
The growth prospects for the global concrete formwork market remain positive due to favorable market conditions created by the increasing demand for high-rise buildings and large-scale infrastructure projects. The market is also expected to benefit from technological advancements that improve the efficiency and sustainability of concrete formwork systems. Additionally, the market is projected to witness significant growth due to the increasing focus on environmentally friendly construction practices.
In conclusion, the demand for concrete formwork is expected to increase globally in the coming years, driven by rapid urbanization and infrastructure development. The major players in this industry are poised to meet this growing demand by innovating and developing new technologies in concrete formwork systems that are both efficient and sustainable. It is clear that the global concrete formwork market will continue to grow as an indispensable component of the construction industry.
The SWOT analysis of the Concrete Formwork industry is as follows:
Strengths:
1. Growing demand for sustainable construction methods.
2. Concrete is a widely used construction material leading to a steady demand for formwork.
3. Increasing urbanization and infrastructure development is driving the demand for formwork systems globally.
4. Advancements in engineering and technology have led to the development of innovative and efficient formwork systems.
5. Experienced workforce and skilled labor available globally to cater to the industry demands.
6. High profit margins due to the long-term use of formwork in construction projects.
Weaknesses:
1. High initial investment required to purchase and maintain formwork equipment.
2. Dependent on the construction industry, which is prone to downturns and economic fluctuations.
3. Limited lifespan of formwork equipment leading to high replacement costs.
4. Safety concerns associated with the use of formwork systems, leading to increased regulation and compliance measures.
Opportunities:
1. Growing demand for precast concrete construction methods.
2. Expansion of infrastructure development in developing countries.
3. Advancements in formwork technology, leading to the development of more durable and efficient formwork systems.
4. Growing demand for sustainable and environmentally friendly formwork solutions.
5. The emergence of modular and lightweight formwork systems.
Threats:
1. Increased competition from alternative construction methods such as steel and timber frame construction.
2. The impact of economic downturns on the construction industry and subsequently, the demand for formwork systems.
3. Potential for increased regulation and compliance measures leading to increased costs for formwork manufacturers and contractors.
4. Health and safety concerns associated with the use of formwork systems, leading to increased liability risks.
Key players in global Concrete Formwork market include:
ULMA
APA Wood
PERI
MetsaWood
Tekla
Ceco Concrete Construction
Ballygorman
Form Tech
Hunnebeck
Formwork Aluma
K-Form
Sadef
EFCO
Form Direct
MEVA
Market segmentation, by product types:
System Column Formwork
Horizontal Formwork
Slipform
Vertical Formwork
Market segmentation, by applications:
Buildings
Transportation
Industrial Facilities
Others
Summary:
Get latest Market Research Reports on Concrete Formwork. Industry analysis & Market Report on Concrete Formwork is a syndicated market report, published as Global Concrete Formwork Market Report 2018-2029. It is complete Research Study and Industry Analysis of Concrete Formwork market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.