South Africa Formwork Market Insights Forecasts to 2033

• The South Africa Formwork Market Size was valued at USD 259.5 Million in 2023.
• The Market Size is Growing at a CAGR of 4.22% from 2023 to 2033
• The South Africa Formwork Market Size is Expected to Reach USD 392.3 Million by 2033

The South Africa Formwork Market Size is Anticipated to Reach USD 392.3 Million by 2033, growing at a CAGR of 4.22% from 2023 to 2033.

Market Overview

Formwork is a temporary or permanent mold with which concrete and other materials are placed. The building business in South Africa is booming. The number of buildings is a sign of a highly developed city. Growth in the construction industry is seen with the increase in the number of housing units. Thus, an expanded real estate market is brought about in South Africa. Formwork is an integral component of concrete construction that acts like a skeleton or scaffold and then supports the fresh concrete until it reaches a strength and stands alone. The type of formwork itself can affect a construction project since it determines efficiency, cost, and quality. There are several distinct types found in the construction industry, each designed to accomplish specific purposes and needs.

Report Coverage

This research report categorizes the market for the South Africa formwork market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Africa formwork market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Africa formwork market.

Driving Factors

Urbanization is one of the critical drivers for improving the commercialization of farm labor. As the country's population shifts from rural to urban locations, so too does the demand for commercial houses and infrastructure increase. Urbanization is increasing the need for increased housing, offices, retail, and transit corridors that all demand effective formwork solutions for concrete construction. Urban areas are not spacious. Consequently, a majority of abandoned construction projects are high-rise buildings and skyscrapers, plus greater raw material demand to construct tall buildings. Another reason urban areas lack space is the high number of abandoned construction projects, particularly high-rise buildings and skyscrapers, and the growing demand for raw materials capable of constructing tall buildings.

Restraining Factors

The industry is facing a scarcity of skilled labor in the installation of formwork, which results in delays high costs, and poor quality in the projects. Hence, training programs, apprenticeships, and recruitment should be necessary in this regard to better ensure the smooth operation of the projects as well as the growth of the market.

Market Segmentation

The South Africa formwork market share is classified into material type and application.

• The steel segment is expected to hold the largest market share through the forecast period.

The South Africa formwork market is segmented by material type into timber & plywood, aluminum, steel, and others. Among these, the steel segment is expected to hold the largest market share through the forecast period. According to the South African Builders Association, building is one of the most important steel-using businesses, accounting for more than half of the country’s steel consumption. Steel reinforces buildings, houses, parking garages, schools, and skyscrapers. Steel is used to coat exterior walls and roofs.

• The buildings segment is expected to dominate the South Africa formwork market during the forecast period.       

Based on the application, the South Africa formwork market is divided into buildings, transportation, industrial facilities, and others. Among these, the buildings segment is expected to dominate the South Africa formwork market during the forecast period. Rapid urbanization and population growth are challenging the complex pipeline of landmark buildings, shopping centers, residential buildings, and smart city initiatives. Construction uses many manufacturing technologies that lead to efficient manufacturing of columns, slabs, and walls, among many other structures, within time bars. It is used in mega-building projects to deliver more economies of scale through new formwork techniques like leap forming, slip forming, and vertical form traveling.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Africa formwork market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ULMA Construction
• PERI Group
• Faresin Formwork S.p.A
• Staluform (Pty) Ltd.
• Doka Group
• Pre-Form (Pty) Ltd.
• Waco International
• Uni-Span Holdings (Pty) Ltd.
• RMD Kwikform
• MESA Imalat Sanayii ve Ticaret A.S
• Acrow
• Pilosio S.p.A
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Africa, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the South Africa formwork market based on the below-mentioned segments:

South Africa Formwork Market, By Material Type

• Timber & Plywood
• Aluminium
• Steel
• Others

South Africa Formwork Market, By Application

• Buildings
• Transportation
• Industrial Facilities
• Others