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Middle East & Africa Formwork System Market Forecast to 2028 - COVID-19 Impact & Regional Analysis By Offering & Material Used

Middle East & Africa Formwork System Market Forecast to 2028 - COVID-19 Impact & Regional Analysis By Offering & Material Used

  • July 2021
  • 99 pages
  • ID: 6134688
  • Format: PDF
  • The Insight Partners

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The formwork system market in MEA is expected to grow from US$ 258.42 million in 2021 to US$ 305.39 million by 2028; it is estimated to grow at a CAGR of 2.4% from 2021 to 2028. At present, construction sector is witnessing an upward trend. With buildings getting taller and the floor plates getting bigger, the final users are seeking forward to advanced formwork system, which are light, reusable, cost-effective, durable, flexible, and easy to assemble & dismantle. There are a few companies, which offers end-to-end formwork design system for small & large projects. Peri, Doka, MFE, BSL Scaffolding, Waco, and Paschal are among a few well-established players existing in the market. With increasing number of commercial, residential, and industrial projects, the construction industry is booming, which is drawing the attention of government to provide financial assistance. Also, advanced building materials are getting emerged to make construction cost effective. Increasing demand for data centers coupled with retail need for refurbishment is anticipated to positively impact the construction sector. Moreover, investment to renovate old buildings and structures, and increasing inclination toward greener future is boosting the scope of green buildings, which is projected to nurture construction sector. Dubailand in Dubai –The project would witness a complex of 278 square kms comprising numerous hotels, theme parks, and more. Additionally, arrival of new formwork technologies is among the other factors expected to fuel the demand for formwork system in MEA.
Based on offering, the solutions segment led the MEA formwork system market in 2020.The construction sector is getting advanced with continuous technological developments.

Advanced solutions are being used by the contractors to make infrastructural projects cost-effective, while boosting the speed of construction and flexibility or the surface quality of construction property. At present, the builders and contractors are going through high degree of competition, which is creating demand for economic formwork solutions to provide greater speed, timely completion of construction projects, enhance safety of workers, and quality.
Concrete is one of a well-recognized construction building material as it is durable, safe, economical, and sustainable.Formwork is an essential ingredient utilized in concrete construction and are considered temporary/permanent molds, into which concrete is poured until concrete is self-supporting.

Traditional timber formwork engineered formwork system, reusable plastic formwork, permanent insulated formwork, stay-in-place formwork, and flexible formwork are among the formwork types used in concrete construction. Shoring & props, outrigger platform, climbing, support brackets and friction collar, filler beam clip, drophead clamp, plywood & components, column & walls, and column lock are a few products offered in formwork solutions.
To reduce the impact of COVID–19, the governments have adopted contingency plans such as complete lockdown and 24-hour sterilization program.The introduction of lockdowns has resulted in a halt of construction activities in the region.

The slowdown in construction activities in the region has directly impacted the sales of formwork system in the region.Also, various countries have imposed travel bans, which will create challenges in recruiting and moving employees; this will impact the projects that are in the initial stage.

Also, most of the businesses in the region have come to a halt and are expected to continue slower than usual pace.The countries are taking significant containment measures to reduce the number of infected patients.

COVID-19 pandemic outbreak, which has severely affected the construction industry and has resulted in the declining sales of the formwork system in MEA.
The overall MEA 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 market.

The process also serves the purpose of obtaining an overview and forecast for the MEA formwork system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.

The participants who typically take part in such a 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 MEA formwork system market. Brand Industrial Services, Inc.; Doka GmbH; EFCO Corp; Encofrados Alsina; FORSA SA.; MEVA Schalungs-Systeme GmbH; MFE Formwork Technology Sdn Bhd; PASCHAL-Werk G. Maier GmbH; and PERI GmbH; are among the key players operating in the MEA formwork system market.

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