South America Formwork System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering and Material Used

South America Formwork System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offering and Material Used

  • July 2021 •
  • 91 pages •
  • Report ID: 6134784 •
  • Format: PDF
The formwork system market in SAM is expected to grow from US$ 124.16 million in 2021 to US$ 143.82 million by 2028; it is estimated to grow at a CAGR of 2.1% from 2021 to 2028. The introduction of new ideas continues to encourage formwork manufacturers to develop innovative and bespoke solutions to meet the need for abstract projects. The modern construction system is being dominated by ever-higher structures with increasingly complicated geometry. As a result, the efficiency of construction processes is critical to the success of such complex structures. With the advancement of technology, modular formwork systems with standardized component items and panels are being offered to reduce the requirement for cutting material on site. In the coming years, the introduction of wireless temperature monitoring formwork system, fiberglass shuttering, tunnel formwork, concrete form lining formwork, and semi-system formwork is projected to drive the formwork system market forward. Also, arrival of new formwork technologies is among the other factors expected to fuel the demand for formwork system in SAM.
Based on material used, the metal segment is expected to be fastest growing during the forecast period for SAM region.Steel and Aluminum formwork is an expensive formwork material; however, it has a multi reuse property.

The steel formwork offers uniform and smooth surface finish to concrete surfaces.Bridges, dams, columns, tanks, sewer, chimneys, tunnel, and retaining wall are a few mass structures, which needs steel formwork as it keeps the structure stronger and safer.

The steel formwork is becoming popular owing to properties such as strength, reuse, and durability for a longer period. Additionally, the steel formwork is completely moisture-proof/ waterproof and lower honeycombing effect, which further makes it ideal for circular/curved structures and over other material like timber.
Aluminum: The density of aluminum is comparatively less than steel, due to which it is a lightweight material and have good strength than steel.Aluminum formwork is somewhat like formwork built from steel.

Also, shuttering down with aluminum form is economical proven in case of repeating usage at large scale is made during construction.The aluminum formwork is often used in prefabricated formworks.

Re-used for many times. easy handling and dismantle function, and advantage of building monolithic crack free structures are some of the benefits associated with aluminum formwork.
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.
Brazil has the highest number of COVID-19 cases, followed by Peru, Chile, and Argentina, among others.The government of South America has taken an array of actions to protect their citizens and contain COVID-19’s spread.

The containment protocols have been implemented for the construction sector to ensure the safety of construction workers.However, some of the new protocols and restrictions require construction to continue only if the project is considered critical.

For instance, in Chile, CODELCO stopped all projects and started reviewing all construction contracts individually to identify the next steps to follow. The coronavirus spread has resulted in the slowdown of the construction industry in the region, which has negatively affected the growth of formwork system in the region.
The overall SAM 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 SAM 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 SAM formwork system market. Brand Industrial Services, Inc.; Doka GmbH; EFCO Corp; Encofrados Alsina; FORSA SA.; MEVA Schalungs-Systeme GmbH; MFE Formwork Technology Sdn Bhd; and PERI GmbH are among the key players operating in the SAM formwork system market.
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