The Asia Pacific formwork system market is expected to grow from US$ 2773.43 million in 2022 to US$ 3,690.17 million by 2028; it is estimated to register CAGR of 5.1% from 2022 to 2028.
The advent of new designs keeps encouraging formwork manufacturers to roll out the latest and tailored solutions to fulfill the demand for abstract projects. The contemporary building system is dominated by high-rise buildings and complex geometries. Therefore, the success of such complex buildings relies on the efficiency of construction processes. With continuous technological developments, modular formwork systems are being introduced with standardized component items and panels to lower the need for cutting materials at the site. The introduction of wireless temperature monitoring formwork systems, fiberglass shuttering, tunnel formwork, concrete form lining formwork, and semi-system formwork are expected to propel the the formwork system market growth in the coming years.
-Wireless Temperature Monitoring Formwork System: The current wireless temperature monitoring system constitution is in Korea. The system wirelessly transfers temperature data measured from sensors in real-time into personal PCs in the site office and predicts maturity and concrete strength. Additionally, the collected data is stored in a computer server, and the information is later shared with experts for offering technical support.
-Fiberglass shuttering: The fiberglass-reinforced plywood system is key to a perfect cast roof with a smooth finish, which does not need plastering. The fiberglass shuttering building systems are a revolution in shuttering owing to their simplicity, lightness, solidity, durability, and resistance to temperature changes. Additionally, fiberglass shuttering provides simplification of shuttering with the same mechanical properties of different shuttering systems.
-Tunnel formwork: The tunnel form is a formwork system enabling contractors to cast slabs and walls in one operation daily. The tunnel formwork unites quality, accuracy, and speed with the flexibility and economy of in-situ construction. Also, hi-tech technologies of steel formwork production make the tunnel formwork durable and stronger. The system can create efficient load-bearing structures that are also known as earthquake-resistant structures.
Therefore, the development of such new construction technologies in the formwork industry is expected to fuel the market growth in the coming years.
China, India, South Korea, Japan, Singapore, and Australia are the key economies in Asia Pacific. Stable economies and technological advancements support the growth of diversified industries and markets in the region. A large population in APAC has led to increased demand for residential as well as commercial construction in the region. The region comprises several developing economies, including India and many Southeast Asian countries, posing strong demand for more infrastructure projects. Further, governments of various countries in the region are taking several measures to attract private investments in infrastructure development. Growing investments in commercial as well as residential construction are bolstering the demand for advanced building materials, including formwork solutions, in APAC countries. Furthermore, in Australia according to government sources the construction industry generates more than US$ 360 billion in revenue per year, thereby accounting for ~9% of the GDP of Australia. The construction sector in the country experiences high year-on-year growth; therefore, there is high demand for advanced & reliable building materials such as formwork solutions. Amid the COVID-19 pandemic, the Prime Minister of Australia classified the construction industry work as an essential service as it plays a vital role in the growth of the country’s economy. Such a prime focus on the industry presents lucrative growth opportunities for the formwork system market players in Australia.
The Asia Pacific formwork system market size is segmented based on offering, material used, and country. Based on offering, the Asia Pacific formwork system market is bifurcated into solutions and service. Based on material used, the Asia Pacific formwork system market is segmented into wood, metal, and others. By country, the Asia Pacific formwork system market is segmented into Australia, China, India, Japan, South Korea, Singapore, Malaysia, and the Rest of Asia Pacific. A few of the major players operating in the Asia Pacific formwork system market are Doka GmbH, PERI, MFE Formwork Technology Sdn Bhd, Efco Corp, and Meva Formwork Systems.
The Asia Pacific formwork system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Asia Pacific formwork system market. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the Asia Pacific formwork system market. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the Asia Pacific formwork system market.
The advent of new designs keeps encouraging formwork manufacturers to roll out the latest and tailored solutions to fulfill the demand for abstract projects. The contemporary building system is dominated by high-rise buildings and complex geometries. Therefore, the success of such complex buildings relies on the efficiency of construction processes. With continuous technological developments, modular formwork systems are being introduced with standardized component items and panels to lower the need for cutting materials at the site. The introduction of wireless temperature monitoring formwork systems, fiberglass shuttering, tunnel formwork, concrete form lining formwork, and semi-system formwork are expected to propel the the formwork system market growth in the coming years.
-Wireless Temperature Monitoring Formwork System: The current wireless temperature monitoring system constitution is in Korea. The system wirelessly transfers temperature data measured from sensors in real-time into personal PCs in the site office and predicts maturity and concrete strength. Additionally, the collected data is stored in a computer server, and the information is later shared with experts for offering technical support.
-Fiberglass shuttering: The fiberglass-reinforced plywood system is key to a perfect cast roof with a smooth finish, which does not need plastering. The fiberglass shuttering building systems are a revolution in shuttering owing to their simplicity, lightness, solidity, durability, and resistance to temperature changes. Additionally, fiberglass shuttering provides simplification of shuttering with the same mechanical properties of different shuttering systems.
-Tunnel formwork: The tunnel form is a formwork system enabling contractors to cast slabs and walls in one operation daily. The tunnel formwork unites quality, accuracy, and speed with the flexibility and economy of in-situ construction. Also, hi-tech technologies of steel formwork production make the tunnel formwork durable and stronger. The system can create efficient load-bearing structures that are also known as earthquake-resistant structures.
Therefore, the development of such new construction technologies in the formwork industry is expected to fuel the market growth in the coming years.
China, India, South Korea, Japan, Singapore, and Australia are the key economies in Asia Pacific. Stable economies and technological advancements support the growth of diversified industries and markets in the region. A large population in APAC has led to increased demand for residential as well as commercial construction in the region. The region comprises several developing economies, including India and many Southeast Asian countries, posing strong demand for more infrastructure projects. Further, governments of various countries in the region are taking several measures to attract private investments in infrastructure development. Growing investments in commercial as well as residential construction are bolstering the demand for advanced building materials, including formwork solutions, in APAC countries. Furthermore, in Australia according to government sources the construction industry generates more than US$ 360 billion in revenue per year, thereby accounting for ~9% of the GDP of Australia. The construction sector in the country experiences high year-on-year growth; therefore, there is high demand for advanced & reliable building materials such as formwork solutions. Amid the COVID-19 pandemic, the Prime Minister of Australia classified the construction industry work as an essential service as it plays a vital role in the growth of the country’s economy. Such a prime focus on the industry presents lucrative growth opportunities for the formwork system market players in Australia.
The Asia Pacific formwork system market size is segmented based on offering, material used, and country. Based on offering, the Asia Pacific formwork system market is bifurcated into solutions and service. Based on material used, the Asia Pacific formwork system market is segmented into wood, metal, and others. By country, the Asia Pacific formwork system market is segmented into Australia, China, India, Japan, South Korea, Singapore, Malaysia, and the Rest of Asia Pacific. A few of the major players operating in the Asia Pacific formwork system market are Doka GmbH, PERI, MFE Formwork Technology Sdn Bhd, Efco Corp, and Meva Formwork Systems.
The Asia Pacific formwork system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Asia Pacific formwork system market. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the Asia Pacific formwork system market. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers - along with external consultants such as valuation experts, research analysts, and key opinion leaders - specializing in the Asia Pacific formwork system market.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Formwork System Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. APAC Formwork System Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Infrastructure Projects Rising in APAC
5.1.2 Wood Formwork Getting Popular Across APAC
5.2 Market Restraints
5.2.1 Relatively Low Construction Projects in Underdeveloped Countries
5.3 Market Opportunities
5.3.1 Construction Sector Witnessing Growth
5.4 Future Trends
5.4.1 Arising of New Formwork Technologies
5.5 Impact Analysis of Drivers and Restraints
6. Formwork System Market - APAC Analysis
6.1 APAC Formwork System Market Overview
6.2 APAC Formwork System Market Revenue Forecast and Analysis
7. APAC Formwork System Market - By Offering
7.1 Overview
7.2 APAC Formwork System Market, by Offering (2022 and 2028)
7.3 Solutions
7.3.1 Overview
7.3.2 Solutions: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Service
7.4.1 Overview
7.4.2 Service: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
8. APAC Formwork System Market - By Material Used
8.1 Overview
8.2 APAC Formwork System Market, by Material Used (2022 and 2028)
8.3 Wood
8.3.1 Overview
8.3.2 Wood: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Metal
8.4.1 Overview
8.4.2 Metal: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9. APAC Formwork System Market - Country Analysis
9.1 Overview
9.1.1 APAC: Formwork System Market- by Key Country
9.1.1.1 Australia: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Australia: Formwork System Market- by Offering
9.1.1.1.2 Australia: Formwork System Market- By Material Used
9.1.1.2 China: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 China: Formwork System Market- by Offering
9.1.1.2.2 China: Formwork System Market- By Material Used
9.1.1.3 India: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Formwork System Market- by Offering
9.1.1.3.2 India: Formwork System Market- By Material Used
9.1.1.4 Japan: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Japan: Formwork System Market- by Offering
9.1.1.4.2 Japan: Formwork System Market- By Material Used
9.1.1.5 South Korea: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 South Korea: Formwork System Market- by Offering
9.1.1.5.2 South Korea: Formwork System Market- By Material Used
9.1.1.6 Singapore: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Singapore: Formwork System Market- by Offering
9.1.1.6.2 Singapore: Formwork System Market- By Material Used
9.1.1.7 Malaysia: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.7.1 Malaysia: Formwork System Market- by Offering
9.1.1.7.2 Malaysia: Formwork System Market- By Material Used
9.1.1.8 Rest of APAC: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.8.1 Rest of APAC: Formwork System Market- by Offering
9.1.1.8.2 Rest of APAC: Formwork System Market- By Material Used
10. APAC Formwork System Market - COVID-19 Impact Analysis
10.1 Overview
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 MFE Formwork Technology Sdn Bhd
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 ADTOMall Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 PERI Australia Pty Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Hebei Zolo Construction Material Co Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Doka GmbH
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Suzhou TECON Construction Technology Co Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Form Direct Pty Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 BHK Group Pty Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Acrow Formwork & Scaffolding Pty Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Shandong Xingang Formwork Co Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Publisher
13.2 Word Index
List of Figures
Figure 1. APAC Formwork System Market Segmentation
Figure 2. APAC Formwork System Market Segmentation - By Country
Figure 3. APAC Formwork System Market Overview
Figure 4. APAC Formwork System Market, by Offering
Figure 5. APAC Formwork System Market, by Material Used
Figure 6. APAC Formwork System Market, By Country
Figure 7. APAC - PEST Analysis
Figure 1. APAC Formwork System Market- Ecosystem Analysis
Figure 2. APAC Formwork System Market: Impact Analysis of Drivers and Restraints
Figure 3. APAC Formwork System Market Revenue Forecast and Analysis (US$ Million)
Figure 4. APAC Formwork System Market Revenue Share, by Offering (2022 and 2028)
Figure 5. APAC Solutions: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 6. APAC Service: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 7. APAC Formwork System Market Revenue Share, by Material Used (2022 and 2028)
Figure 8. APAC Wood: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 9. APAC Metal: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 10. APAC Others: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 11. APAC: Formwork System Market Revenue Share, By Key Country (2020 and 2028)
Figure 12. Australia: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. China: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 14. India: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 15. Japan: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. South Korea: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Singapore: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. Malaysia: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Malaysia: Formwork System Market
Figure 20. Rest of APAC: Formwork System Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Impact of COVID-19 Pandemic in APAC Country Markets
List of Tables
Table 1. APAC Formwork System Market Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Formwork System Market- By Key Country - Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Formwork System Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Formwork System Market- By Material Used -Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Formwork System Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Formwork System Market- By Material Used -Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Formwork System Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Formwork System Market- By Material Used -Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan: Formwork System Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 10. Japan: Formwork System Market- By Material Used -Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea: Formwork System Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea: Formwork System Market- By Material Used -Revenue and Forecast to 2028 (US$ Million)
Table 13. Singapore: Formwork System Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 14. Singapore: Formwork System Market- By Material Used -Revenue and Forecast to 2028 (US$ Million)
Table 15. Malaysia: Formwork System Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 16. Malaysia: Formwork System Market- By Material Used -Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of APAC: Formwork System Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of APAC: Formwork System Market- By Material Used -Revenue and Forecast to 2028 (US$ Million)
Table 19. List of Abbreviation
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Alsina Formwork
- Brand Industrial Services, Inc
- Doka GmbH
- Efco Corp.
- Forsa S.A
- Meva Formwork Systems
- MFE Formwork Technology Sdn Bhd
- Paschal International
- PERI
- Shandong Xingang Formwork Co., Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 105 |
| Published | March 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 2773.43 million |
| Forecasted Market Value ( USD | $ 3690.17 million |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Asia Pacific |
