Formwork Market Size Worth USD 6.03 Billion by 2025 | CAGR: 1.9%
Published Date : 02 / 04 / 19 | Report Format: PDF
The global formwork market is expected to grow at CAGR of 1.9% to reach USD 6.03 billion by 2025.
Formwork is a name given to mould in which concrete is kept. It is usually made up of steel, timber, plastic, aluminium and others. It should possess enough strength so that it can tolerate the weight of wet concrete without any distortion. Once the concrete gains enough strength, the formwork is removed or it can be kept as it is in case of permanent solution. In upcoming years, the increase in expenditure on infrastructure development will stimulate the product demand across the globe. Also with the increase in growth of residential and commercial sectors, the demand for formwork is anticipated to increase. This product minimizes the time and cost required for the completion of construction work. The global industry is expected to rise by taking into account the vast use of simple and reusable molds.
Formwork is known for maintaining the quality of construction work while speeding up the work. The necessity to give support to newly constructed buildings is likely to boost the market growth. Additionally, saturation in urban population will generate strong demand for residential buildings, driving the industry growth. However, lack of flexibility and high maintenance cost are some of the restraints of this material, but its excellent strength to support concrete will accelerate the market in near future.
- Formwork can be made up of Aluminium, Timber & Plywood, and others. Timber & Plywood segment is the widely used material in the market, capture over 35% revenue share throughout the study period.
- On the contrary, aluminium is gaining popularity owing to its light weight and low density. Durability and long life of aluminium makes it economical as it can be reused at various construction sites.
- Europe formwork market has reached USD 1.89 billion (2017) and it is projected to grow with 1.7% CAGR over the study period
- Key players which are playing a leading role in the industry includes Acrow; ULMA Construction; Doka Group; STRABAG SE; MEVA Systems; PASCHAL Group; Interfama; Mascon; MFE Technology; Faresin; Wall-Ties & Forms, Inc.; and others
KEY BENEFITS OF THE REPORT:
- The report presents a macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
- A thorough analysis of relevant statistical data to estimate the market paradigms
- Exceptional understanding of region and country-specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts segmentations, and growth specific to the countries.
- Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY APPLICATION
- Timer & Plywood
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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