Page 57 - CV June-July 2023 Issue

Offering-Based India Aluminum Formwork System Market Aluminum is also growing in demand because of its sustainable
Insights nature and property of being recycled and reused. In the construction
industry, Aluminum formwork is somewhat like a formwork built from
Based on offering, the India aluminum formwork system market is steel. Also, shuttering down with aluminum form is economically
categorized into solutions and services. The construction sector is proven in case of large-scale repeated usage during construction.
getting advanced with continuous technological developments. The aluminum formwork is often used in prefabricated formworks.
Contractors are using advanced solutions to make infrastructural Easy handling and dismantling function and the advantage of building
projects cost-effective while boosting the speed of construction and monolithic crack-free structures are some of the benefits associated
flexibility or the surface quality of construction property. At present, with aluminum formwork. Construction is considered the second
builders and contractors are going through a high degree of largest industry after agriculture and is responsible for contributing
competition, which is creating a demand for economic formwork significantly to the India aluminum formwork system market.
solutions to provide greater speed, timely completion of construction According to KPMG International Limited, by 2025, the country's
projects, enhance worker safety, and improve quality. construction sector will be the third largest in the world, after China
Concrete is a well-recognized construction building material as it is and America, with an overall value of US$ 1 trillion. Rapid population
durable, safe, economical, and sustainable. Formwork is an essential growth and urbanization have led to evolutionary pressures that have
ingredient utilized in concrete construction and is considered initiated the use of new technologies in the construction industry.
temporary/permanent molds, into which concrete is poured until the Further, the limited availability of natural resources and changing
concrete is self-supporting. Traditional timber formwork engineered infrastructure landscape have influenced the construction industry to
formwork systems, reusable plastic formwork, permanent insulated embrace aluminum formworks. The growth in centralized, automated
formwork, stay-in-place formwork, and flexible formwork are used in processes and new materials with controlled heating properties is
concrete construction. anticipated to boost the demand for the India aluminum formwork
system market during the forecast period.
Material Used-Based India Aluminum Formwork System Market
Insights Strategic Insights

In terms of material used, the India aluminum formwork system Players operating in the India Aluminum Formwork System market
market is segmented into aluminum, timber, plastics, mild steel, mainly focus on mergers and acquisitions.
hybrid, and others. Aluminum is a low-density, lightweight material  In February 2021, the Acropol group was acquired by MEVA
with good strength. Aluminum has been an integral component of the Schalungs-Systeme GmbH. Meva will gain additional
construction industry in India. The rise in turning skyscrapers into distribution prospects in European countries due to the
green buildings in India is bolstering the demand for India aluminum takeover.
formwork system market.

CONSTRUCTION VISION 55 JUNE-JULY 2023