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South Africa Formwork Market Is Anticipated To Witness High Growth Owing To Rapid Infrastructure Development Projects

South Africa Formwork Market Is Anticipated To Witness High Growth Owing To Rapid Infrastructure Development Projects

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.

Key Takeaways

Key players operating in the South Africa formwork are Svenska Cellulosa AB, DSG International Ltd., First Quality Enterprises, Inc., Kimberly-Clark Corporation, Abena A/S, Attends Healthcare Products, Inc., Unicharm Corporation, Kao Corporation, Ontex Group, Chiaus (Fujian) Industrial Development Co Ltd and others. These players are focusing on developing innovative formwork systems to cater to the growing infrastructure development projects in South Africa. The adoption of modular formwork system that enables faster structuring is one of the key opportunities in the market. With execution of large infrastructure projects, formwork producers are expected to expand their operations in South Africa over the coming years. Governments thrust on developing road and rail connectivity between South Africa and other African countries will present new opportunities for regional expansion.

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

- Slow economic growth- Macroeconomic challenges in South Africa including low GDP expansion may negatively impact infrastructure spending

Segment Analysis

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

The South Africa formwork market is estimated to be dominated by the Western Cape region during the forecast period. The growth of the market in the Western Cape region can be attributed to the increased infrastructure development projects in Cape Town. Some of the major ongoing projects are Athlone Power Station Redevelopment, Century City Development, and Cape Town Foreshore Redevelopment Project. The Gauteng region is expected to be the fastest growing market owing to large scale construction of commercial and residential buildings in Johannesburg and Pretoria. Rising foreign investments for infrastructure expansion are fueling the growth of the formwork market in South Africa.

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