Global Formwork Panels Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Formwork Panels Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Formwork Panels are mainly made of raw materials such as wood, steel and aluminum, etc. Formwork Panels can be divided into wooden formwork, steel formwork, aluminum formwork, etc. , mainly used in construction, transportation, industrial facilities, etc.

Market Overview:

The latest research study on the global Formwork Panels market finds that the global Formwork Panels market reached a value of USD 1003.45 million in 2022. It’s expected that the market will achieve USD 1120.12 million by 2028, exhibiting a CAGR of 1.85% during the forecast period.

Market Drivers

Formwork can be a temporary mold or a permanent mold, which can fix concrete and other materials. Timber formwork takes the form of a wooden board structure surrounding an open cavity, and has some advantages over other formwork types. Compared with steel, timber formwork has lower construction cost because of its lower availability and production cost. The cost of wood will depend on the quality of wood. It is easy to produce, but it is time-consuming for larger structures, and the service life of plywood veneer is relatively short. It is still widely used where the labor cost is lower than the cost of purchasing reusable Formworks. It is also the most flexible Formwork type, so even where other systems are used, complex parts may use it. The demand of timber formwork in the construction industry will promote the development of Formwork Panels industry.

With the increasing demand for affordable housing, builders are increasingly adopting various types of intelligent building technologies to reduce construction costs. In commercial construction, builders and designers are looking for new ways to improve efficiency, save money and simplify construction sites. An effective solution is to choose permanent formwork as an alternative to traditional masonry blocks, precast concrete or on-site construction methods. In the traditional cast-in-place concrete structure, formwork is removed once the concrete is strong enough to stand on its own. Removing the formwork can be a delicate and laborious task, which requires extra care to ensure that the structure will not be damaged during the removal process.

On the other hand, compared with on-site pouring, permanent formwork requires the least support, thus eliminating the need for bricklayers. Leave formwork in place after the concrete is solidified to form a permanent structure. The process of saving labor is one of the main reasons why permanent formwork is so popular, especially in the commercial field, where buildings may be large or complex multistory structures. Compared with the traditional pouring construction method, permanent formwork saves production labor, and the demand of enterprises increases, which drives the development of formwork panels industry.

Challenges

With the concept of sustainable development put forward, downstream customers pay more and more attention to the sustainability of manufacturing materials when purchasing products. The concept of sustainable development requires enterprises to manufacture sustainable products and put forward requirements for manufacturing raw materials. It is a challenge for enterprises to change the original raw materials and production methods to manufacture products. The sustainability of products is the core of the company. Companies can use some waste and recycled materials to produce formwork panels products. Every company should follow the trend of sustainable development and develop the products needed by downstream customers, so as to promote the development of enterprises.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Geto is one of the major players operating in the Formwork Panels market, holding a share of 10.14% in 2020.

Geto is a comprehensive service-oriented joint-stock enterprise focusing on the new building aluminum mold and intelligent climbing frame system. Geto is the first batch of super-qualified enterprises in the industry to realize scale, specialization and modernization, focusing on R&D, design, production, rental and sales and technical service of mold base system.

A leading provider of specialized services to the global industrial, commercial and infrastructure markets, BrandSafway delivers access and scaffolding systems, forming and shoring, industrial services and related solutions to more than 30,000 customers worldwide. BrandSafway was formed when Brand Energy & Infrastructure Services and Safway Group combined in 2017.

Segmentation Overview:

Among different product types, Timber Formwork segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Buildings segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Formwork Panels market covered in Chapter 3:

Wall-Ties Forms
Intek
Doka
NOE
Geto
Acrow
BEIS
Alsina
Xingang
Hongxing Steel Formwork
Condor
Guang Ya
MFE
PERI
ULMA
Shanxi Guan Plastic
Rmd kwikform
Mestawood
PASCHAL

In Chapter 4 and Chapter 14.2, on the basis of types, the Formwork Panels market from 2018 to 2029 is primarily split into:

Timber Formwork
Steel Formwork
Aluminum Formwork
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Formwork Panels market from 2018 to 2029 covers:

Buildings
Transportation
Industrial Facilities
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)