South Africa Formwork Market, by Material Type (Timber & Plywood, Aluminum, Steel, and Others) and by Application (Buildings, Transportation, Industrial Facilities, and Others) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published In : Feb 2022

Code : CMI4931

Pages :80

Formats :

Excel and PDF

Industry : Advanced Materials

South Africa Formwork MarketSize and Trends

South Africa formwork market is expected to surpass US$ 327.5 million by the end of 2028 and exhibit a CAGR of 4.3% during the forecast period (2021 to 2028).

Market Trends

The South African government is investing in public infrastructure including projects such as housing, roads, the construction of schools, and others. As a result, the demand for formwork from public sector is increasing, which is expected to aid in the market growth. The government also established the National Development Plan (NDP) in 2012 for future construction projects. There are positive future developments expected such as the Commonwealth Games in 2022, offering the construction industry as well as South Africa formwork market a lucrative opportunity for optimal growth.

Apart from this, the Presidential Infrastructure Co-ordinating Commission (PICC) is also planning to build six new dams within South Africa by 2028 in order to address the country’s long-term water and sanitation needs.