Formwork Market Size to Propel Owing to Developments in the Construction Industry & Rise in Infrastructural Activities by 2028

Radiant Insights, Inc.

SAN FRANCISCO, May 7, 2019 /PRNewswire/ -- Global Formwork Market is estimated to witness significant growth in the forecast period owing to developments in the construction industry and rise in infrastructural activities. Formwork is the permanent or temporary molds, which is filled by concrete or similar materials. It is normally made of timber, plywood, or steel. Formwork helps to shape concrete structure better and carry the concrete load created from plant and workers. It is removed after the concrete has gained enough strength. Formwork can efficiently resist hydrostatic weight of wet concrete which reduces in some hours depending on the setting and curing rate. Formwork market is majorly driven by factors like reusability of molds, increase in government investments for improving old infrastructure with new construction activities in both non-residential and residential sectors, and rising urbanization. Moreover, growing number of construction companies that strongly demand formwork and developments in the product is also fueling the growth of market of Formwork. However, significant cost of transportation is restraining the market growth.

High investment in infrastructure and real estate development are also expected to present potential growth opportunity to the market of Formwork. Nevertheless, unorganized sector in developing economies is challenging the market. Formwork market is categorized on the basis of product type, application, distribution channel, and geography. On the basis of product type, market is divided into steel formwork, timber and plywood formwork, and aluminum formwork. Timber and plywood segment is predicted to contribute considerably to the market due to increase in applications in construction segment. Furthermore, aluminum segment also leads the market owing to its low density and light weight.

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In terms of application, formwork market is divided into transportation, buildings, and industrial facilities. Buildings segment is expected to hold larger share of the market owing to speedy urbanization, increase in investment, and growing infrastructural development. Based on distribution channel, formwork industry is divided into distribution channel and direct channel. Geographically, formwork market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is predicted to dominate the market due to increasing investment in the domain and increase in housing construction activities. Asia Pacific is also expected to contribute significantly due to increasing industrialization and growing population. The prominent players in formwork market include Acrowmisr, ULMA, BEIS, PERI, Acrow, NOE, Alsina, RMD Kwikform, Doka, PASCHAL, Hankon, Intek, Zulin, Waco International, Condor, Taihang, MFE, Mesa Impala, Alpi SEA, Pilosio, MEVA, GCS, Lahyer, Faresin, Urtim, Jinsenyuan, Holdings, Outinord, Xingang Group, and Wall-Ties & Forms.The global Formwork market was valued at $8230 million in 2017, and the analysts predict the global market size will reach $9560 million by the end of 2028, growing at a CAGR of 1.37% between 2017 and 2028.This report provides detailed historical analysis of global market for Formwork from 2013-2018, and provides extensive market forecasts from 2018-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Formwork market.