Asia Pacific Formwork System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Offering (Solutions and Service) and Material Used (Wood, Metal, and Others)

TIPRE00023532 | Pages: 105 | Manufacturing and Construction | Mar 2023 | Type: Regional | Status: Published

Market Introduction

Asia Pacific has a huge presence of several industry-recognized formwork system market players. This leads to the easy availability of formwork solutions to the construction industry players. The smooth supply chain of formwork solutions significantly supports the growth of the market. A few of the prime companies operating in the formwork system market in Asia Pacific include Doka; PERI; Shandong Xingang Formwork Co., Ltd.; Alpi Sea; and GETO. Companies such as Doka provides an array of formwork solutions to cater construction needs of LNG tanks in Taiwan and India, forming Xayaburi hydroelectric power project using a new solution for high loads-d3 in Laos, and constructing double containment for Tianwan Power Station in China. Additionally, the company has expanded its presence in Kuala Lumpur. Under Malaysia’s Capital, the Tun Razak Exchange (TRX) is planning to start one of the biggest construction projects: Signature Tower—the tallest building in Asia Pacific. The height of the building is expected to be approximately 400m. For this building, TRX offers a mixed solution of Automatic climbing formworks SKE50 & SKE100, Protection screen Xclimb 60, and large-area formwork Top 50. Footprints of such gigantic players operating in the Asia Pacific formwork system market are likely to help accelerate the use of formwork solutions for constructing new structures.

Similarly, Ratec Asia is another company that has received and implemented numerous customer projects in the first year of its incorporation. In Singapore, the company has developed a simple and flexible magnetic formwork system for several construction companies Also, an Innoland Development Corporation in the Philippines is utilizing Ractec Asia’s formwork solution for the prefabrication of their components at the construction site. These companies are experiencing growth in construction activities in Asian countries, which is compelling them to expand their presence in Asian economies and capture a huge share in providing formwork systems, thereby contributing to the formwork system market growth.


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Market Overview and Dynamics

The construction industry across Singapore is experiencing significant growth over the years with the rise in investment by government bodies to develop green and energy efficient buildings. The government body of Singapore is also promoting the adoption of smart technology and encouraging the shift towards inclusive infrastructure designs. The Building and Construction Authority (BCA) estimated a construction demand ranging from US$ 20.19 billion to US$ 23.93 billion in 2023. According to the authority the public sector is expected to account for 60% of the total construction demand with a pipeline of several public housing projects and industrial & institutional construction. The private sector construction demand according to BCA accounted for approximately between US$ 11 billion and US$ 13 billion in 2022. The country has also experienced a rise in demand for commercial complexes such as hotels and renovations and redevelopments of tourist attractions. The increase in government initiatives to promote the tourism industry across the country is thereby catalyzing the demand for several commercial complexes. This rise in construction of high-rise commercial complexes across the country is directly positively impacting the demand for formwork systems, thereby contributing to the growth of the formwork system market.

Key Market Segments

Based on offering, the Asia Pacific formwork system market is bifurcated into solutions and service. The solutions segment held a larger share in 2022, and it is also expected to register a higher CAGR during the forecast period due to increasing demand for aluminum and wood formwork systems. Concrete is a well-recognized construction building material as it is durable, safe, economical, and sustainable. Formwork is an essential ingredient utilized in concrete construction and is considered a temporary/permanent mold into which concrete is poured until the concrete is self-supporting. Traditional timber formwork engineered formwork systems, reusable plastic formwork, permanent insulated formwork, stay-in-place formwork, and flexible formwork are among the major types of formwork 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.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing the report on the Asia Pacific formwork system market are company websites, annual reports, financial reports, national government documents, and statistical databases. Major companies listed in the Asia Pacific formwork system market report include Doka GmbH, PERI, MFE Formwork Technology Sdn Bhd, Efco Corp, and Meva Formwork Systems.

Reasons to buy report

  • To understand the  business landscape in the Asia Pacific formwork system market and identify market segments that are most likely to guarantee a strong return
  • To stay ahead of the race by comprehending the ever-changing competitive landscape for the Asia Pacific formwork system market
  • To efficiently plan M&A and partnership deals in the Asia Pacific formwork system market by identifying market segments with the most promising probable sales
  • To help take knowledgeable business decisions from a comprehensive analysis of the market's performance of various segments of the Asia Pacific formwork system market.
  • To obtain revenue forecast for market by various segments from 2022 to 2028 in Asia Pacific.

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners 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.           Asia Pacific Formwork System Market Landscape

4.1         Market Overview

4.2         Asia Pacific PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinions

5.           Asia Pacific Formwork System Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Infrastructure Projects Rising in Asia Pacific

5.1.2        Wood Formwork Getting Popular Across Asia Pacific

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 – Asia Pacific Analysis

6.1         Asia Pacific Formwork System Market Overview

6.2         Asia Pacific Formwork System Market Revenue Forecast and Analysis

7.           Asia Pacific Formwork System Market – By Offering

7.1         Overview

7.2         Asia Pacific 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.           Asia Pacific Formwork System Market – By Material Used

8.1         Overview

8.2         Asia Pacific 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.           Asia Pacific Formwork System Market – Country Analysis

9.1         Overview

9.1.1        Asia Pacific: 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 Asia Pacific: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.8.1          Rest of Asia Pacific: Formwork System Market- by Offering

9.1.1.8.2          Rest of Asia Pacific: Formwork System Market- By Material Used

10.        Asia Pacific 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 Insight Partners

13.2      Word Index 

LIST OF TABLES

Table 1.             Asia Pacific Formwork System Market Revenue and Forecast to 2028 (US$ Million)

Table 2.             Asia Pacific: 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 Asia Pacific: Formwork System Market- by Offering –Revenue and Forecast to 2028 (US$ Million)

Table 18.          Rest of Asia Pacific: Formwork System Market- By Material Used –Revenue and Forecast to 2028 (US$ Million)

Table 19.          List of Abbreviation

LIST OF FIGURES

Figure 1.           Asia Pacific Formwork System Market Segmentation

Figure 2.           Asia Pacific Formwork System Market Segmentation – By Country

Figure 3.           Asia Pacific Formwork System Market Overview

Figure 4.           Asia Pacific Formwork System Market, by Offering

Figure 5.           Asia Pacific Formwork System Market, by Material Used

Figure 6.           Asia Pacific Formwork System Market, By Country

Figure 7.           Asia Pacific – PEST Analysis

Figure 1.           Asia Pacific Formwork System Market- Ecosystem Analysis

Figure 2.           Asia Pacific Formwork System Market: Impact Analysis of Drivers and Restraints

Figure 3.           Asia Pacific Formwork System Market Revenue Forecast and Analysis (US$ Million)

Figure 4.           Asia Pacific Formwork System Market Revenue Share, by Offering (2022 and 2028)

Figure 5.           Asia Pacific Solutions: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 6.           Asia Pacific Service: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 7.           Asia Pacific Formwork System Market Revenue Share, by Material Used (2022 and 2028)

Figure 8.           Asia Pacific Wood: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 9.           Asia Pacific Metal: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 10.        Asia Pacific Others: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 11.        Asia Pacific: 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 Asia Pacific: Formwork System Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        Impact of COVID-19 Pandemic in Asia Pacific Country Markets

The List of Companies - Asia Pacific Formwork System Market

  1. Alsina Formwork
  2. Brand Industrial Services, Inc
  3. Doka GmbH
  4. Efco Corp.
  5. Forsa S.A
  6. Meva Formwork Systems
  7. MFE Formwork Technology Sdn Bhd
  8. Paschal International
  9. PERI
  10. Shandong Xingang Formwork Co., Ltd.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Asia Pacific formwork system market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific formwork system market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the formwork system market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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