Plastic Formwork Market to Advance at CAGR of 5.1% during Forecast Period Propelled by Application in Concrete Constructions, Notes TMR Study

- One-piece plastic formworks gather widespread adoption to meet various construction and planning needs on-site

- Advantages in high-rise buildings to propel plastic formwork market to reach US$ 787 Mn by 2031

ALBANY, N.Y., Dec. 23, 2021 /PRNewswire/ -- A study by TMR projects the global plastic formwork market valuation to advance at CAGR of 5.1% during 2021-2031. The popularity of plastic formwork in a range of concrete construction works, such as columns, pillars, walls, plinths, and foundations is propelling lucrative opportunities for market players.

Several performance benefits of plastic formworks broadly pertain to flexibility, durability, and cost. They have supplanted steel and wood formworks in development & renovation of underground integrated pipe corridors. The demand for plastic formworks has risen in small housing projects, finds an in-depth TMR research report on the plastic formwork market.

Manufacturers are keenly tapping into revenue streams by offering smartly designed plastic formworks that enable end users to overcome on-site logistical challenges and meet engineering needs. The products are aimed to be versatile, cost effective, and eco-friendly. Additionally, they are corrosion resistance and have high strength-to-weight ratio.

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Key Findings of Plastic Formwork Market Study

• Widespread Application in Construction of High-rise Building Formworks Propelling Revenue Generation: Plastic formworks are growing in application in construction of high-rise concrete buildings, note the TMR analysts in a study on plastic formwork market. The advantages of low weight and ease of handling of formwork at the worksite are fueling the popularity of plastic formworks in the construction industry. Low-maintenance and durable plastic formwork solutions for circular columns, fixed columns, and adjustable columns are expected to gain wide adoption in the construction industry. Additionally, solution providers are offering plastic formworks that offer architects several possible panel combinations.
• Manufacturers Offering Innovative Plastic Formwork Solutions: Manufacturers of plastic formwork products are capturing revenues from the demand for products in various shapes and sizes. This is crucial to meet the needs of installation and dismantling without the need for costly machinery. One-piece plastic formworks have opened a new avenue for providers of plastic formwork solutions, find the TMR study. Modernization in methods for building concrete structures has spurred the revenue possibilities of innovative plastic formwork solutions.
• Plastic Modular Formworks Meet Construction and Planning Needs: Plastic modular formworks have gained traction in the construction industry for restoration projects and for construction in extreme environments. The modularity is key to the adoption in range of construction and planning needs. The growing demand for these in civil engineering projects is expected to generate incremental revenues for players in the plastic formwork market.

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Plastic Formwork Market: Key Drivers

• Strides made by the construction industry, supported by investments by contractors in building construction and heavy and civil engineering construction, are spurring the demand for plastic formwork
• The demand for low-maintenance formwork products for large infrastructure projects and commercial projects is driving the plastic formwork market

Plastic Formwork Market: Regional Growth Dynamics

• ·  Asia Pacific contributed a leading share to the global market in 2020. The regional market is projected to advance at CAGR of over 5% during the forecast period. Substantial uptake of plastic formwork in residential and commercial construction applications is a key trend fueling the growth.
• ·  The Europe plastic formwork market is anticipated to contribute sizable revenues to players during the forecast period. Rise in demand for plastic formworks for the construction industry is a key underpinning.

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Plastic Formwork Market: Key Players

The study on the plastic formwork market provides extensive assessment of the competition landscape including product portfolio and sales footprints of various key players. Some of the prominent companies in the market are:

• Siscon Construction
• MOD SCAFF PVT. LTD.
• MEVA Schalungs-Systeme GmbH
• Nova Formworks
• Beizhu Group
• ADTO Group
• Geoplast S.p.A.
• BOFU
• Shandong Jingfang Import and Export Co., Ltd.

Global Plastic Formwork Market: Segmentation

Plastic Formwork Market, by Type

• Wall Formwork
• Column Formwork
• Beam & Slab Formwork
• Floor Formwork
• Others (including Monolithic Formwork and Climbing Formwork)

Plastic Formwork Market, by End-use

• Buildings
• Transportation
• Industrial Facilities
• Others (including Bridges, Dams &Water Systems, and Airports)

Plastic formwork Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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