The rising demand for formwork in the construction industry is expected to foster healthy growth of the market, states Fortune Business Insights, in a report, titled “Concrete Formwork Market Size, Share & Industry Analysis, By Type (Aluminum Formwork, Steel Formwork, Timber and Plywood Formwork, Other), By End-User (Residential, Non-residential)and Regional Forecast, 2022-2029.” The flourishing construction industry is expected to aid the expansion of the market.

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Russia-Ukraine War Implication

The Russia-Ukraine war could change the Concrete Formwork Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Concrete Formwork Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.

The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.

The report on the concrete formwork market Highlights:

  • Outstanding study of the market
  • Comprehensive analysis of the segments
  • Imperative information about industry players
  • Latest market trends and drivers
  • Regional analysis with valuable data

Market Driver:

Rising Advancements in Concrete Technology to Spur Business Opportunities

Rapid urbanization in developing nations is expected to bolster the healthy growth of the market. The increasing innovations and advancements by major companies are expected to enable the healthy growth of the market during the forecast period. For instance, in December 2018, Technocraft announced the launch of the revolutionary MACH ONE Formwork System. The new system will facilitate the production of monolithic reinforced concrete slabs, columns, walls, stairways, and beams. Furthermore, the launch of Ortolan Extra 772 KS is expected to create sales opportunities for the market. For instance, in October 2016, MC-Bauchemie announced the introduction of Ortolan Extra 772 KS, a mineral oil-based concrete release emulsion. It is suitable for heated and unheated molding applications. Besides, the increasing research and development activities for the development of innovative formwork by prominent companies can aid the expansion of the market.

However, the reduced strength of concrete owing to the absorption of water in timber formwork can diminish the market growth during the forecast period in the forthcoming years.

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Regional Analysis:

Increasing Infrastructure Development to Propel Market in Asia Pacific

The market in Asia Pacific is predicted to rise tremendously during the forecast period owing to the growing construction industry in developing nations such as China, India, and Japan. The rising infrastructure development can spur lucrative opportunities for the market in the region. Europe is expected to experience a rapid growth rate owing to the rapidly growing commercial sector, hence fueling the demand for concrete formwork. North America is predicted to witness a rapid growth owing to the growing demand for aluminum and steel formworks in the construction sector. The Middle East & Africa is expected to expand radically during the forecast period owing to the improving living conditions in the region. The growing investments in the residential sector can have an excellent impact on the market in the regions.

Key Development:

January 2019: PERI India announced the launch of ALPHADECK, a large area slab formwork system. The system allows safe and fast forming operations with a systematic assembly sequence.

The Report Lists the Key Companies in the Concrete Formwork Market:

  • ULMA Group
  • ADTOMall Inc.
  • Turbo Scaffolding
  • Trimble Solutions Corporation
  • Bridgend Extrusion Ltd
  • MEVA Schalungs-Systeme GmbH
  • MC-Bauchemie
  • Wall-Ties & Forms, Inc.
  • Berger Construction Equipment GmbH.

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