South Africa Formwork Market Growth in South Africa Driven by Rising Infrastructure Development
The formwork market in South Africa has been witnessing significant growth over the past decade driven by the increasing infrastructure development activities in the country. Formwork refers to the supporting structure and material that holds freshly placed concrete until it hardens and is capable of supporting itself. It provides the required shape and texture to the concrete structures as well as prevents and controls concrete placement. The demand for various formwork materials such as concrete, aluminum, steel, plastic, and wood planks has risen substantially with the growth of the construction sector in South Africa.
The Global Formwork Market in South Africa 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 market 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.
The growing demand for infrastructure development across sectors such as roads & highways, dams, housing, commercial buildings, stadiums, and others is driving the South Africa Formwork Market Trends The government's investments and initiatives for improving connectivity and logistics through new rail networks, ports, airports are propelling the need for formwork.
The major formwork companies are expanding their global footprint to leverage the high growth opportunities in Africa. Players are investing to enhance production capacities and setting up new manufacturing units across South Africa to cater to the escalating local demand for formwork. Contractors are also outsourcing more formwork projects to big formwork service providers to complete projects quickly.
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