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Formwork is used for construction purposes to support wet concrete until it is self-supporting. It is used to mold concrete into desired shapes and designs. South Africa formwork market is primarily driven by rapidly growing infrastructure and construction activities in the country. Government’s focus on developing roads, bridges, airports and other infrastructure projects is boosting the demand for construction materials including formwork. Some of the major infrastructure development projects include Gautrain rapid rail link, Medupi and Kusile power stations, Johannesburg OR Tambo airport expansion and Johannesburg-Durban high-speed rail link. The rising urbanization is also necessitating new residential and commercial construction. Formworks are highly advantageous as they allow casting of complex architectural concrete structures in less time. The Global South Africa Formwork Market is estimated to be valued at US$ 322.6 Bn in 2024 and is expected to exhibit a CAGR of 8.4% over the forecast period 2024 To 2031.
Market Drivers:
Rising infrastructure development- Major ongoing and planned projects for roads, bridges, airports, ports, power and sanitation will drive the demand
- Growth in construction sector- South Africa Formwork Market Trends Robust construction activities especially in residential and commercial real estate segments will require formworks
- Technological advancements-Introduction of advanced formwork systems like modular, aluminum and reusable forms will boost adoption
Market Restrain:
High initial investment- Setting up formwork production facilities requires sizable capital expenditures
- Skilled labor shortage- Scarcity of trained professionals for efficient formwork installations can increase project timelines and costs
Wooden formwork holds the largest share in the South Africa formwork market. Wooden formwork provides advantages such as easy stripping process compared to steel formwork. Moreover, wooden forms are easy to handle and transport which makes them suitable for constructions with complex geometries and small projects. In addition, wooden forms have good resistance to corrosion which increases their reusability. Aluminum formwork is expected to witness rapid growth during the forecast period. Aluminum formwork offers advantages such as light weight and resistance to corrosion which enhances its durability. Rapid infrastructure development activities in South Africa are further propelling the demand for aluminum formwork.
Global Analysis
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