Global Plastic Formwork Market Poised for Sustainable Growth
The Global Plastic Formwork Market is experiencing steady expansion, driven by the construction industry’s shift towards sustainable and efficient building practices. Valued at approximately USD 492.90 million in 2023, the market is projected to reach around USD 659.73 million by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 3.12% during the forecast period.
Competitive Landscape
The plastic formwork industry features a mix of global and regional players striving to innovate and meet the evolving demands of modern construction. Key companies such as Beizhu Group, PERI AG, K-Form, Moladi, Geoplast SpA, FUVI, NOE-Schaltechnik, BOFU, Nova Formworks, Shandong Jingfang Import and Export Co., Ltd, MOD SCAFF PVT. LTD, Hebei Zolo Construction Material Co., Ltd, and Shandong Green Plastic Co., Ltd are prominent in this sector.
The Asia Pacific region leads the market, accounting for approximately 40% of the global share in 2022, propelled by rapid urbanization and infrastructure development. Europe follows, with a strong emphasis on sustainable construction practices driving the adoption of plastic formwork.
by Product
Walls Formwork
Column Formwork
Foundations
Others
The Plastic Formwork is widely used in an array of applications like Walls Formwork, Column Formwork, Foundations, Slabs and Others. Among these, the light weight panels for walls followed by columns companies are expected to account largest share in plastic formwork market and is projected to contribute xx% share during the forecast period. The growth in the market is attributed to the adoption of advanced technologies such as introducing light weight scaffolding and supporting system for formwork.
by Applications
Buildings
Transportation
Industrial Facilities
Others
anticipated to expand at a CAGR throughout the course of the projection year. The market growth has been accelerated by the development of infrastructure and construction services that are concentrated through policies including open FDI norms, increased budget allocation to the infrastructure sector, and smart cities. For large projects, plastic formwork technology is cost-effective. It causes construction to proceed more quickly and increases worker productivity. Given its many benefits over the conventional timber formwork method, plastic formwork technology may be able to help combat deforestation, a significant worldwide problem.
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Key Market Participants:
1.GETO GROUP
2.Sharp Ply (India) Pvt Ltd
3.Condor S.p.A.
4.Farina Formworks
5.MEVA Schalungs-Systeme GmbH
6.Wall-Ties & Forms, Inc.
7.NOE Formwork
8.Strabag
9.PASCHAL group
10.Acrow
11.ULMA Group
12.Others
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