Wooden Formwork Systems Market

Wooden formwork is a way of constructing residential, industrial, and commercial buildings with wood. Wood frames are utilized to construct a variety of building types, and there are no limitations to the architectural possibilities when wood is utilized as the medium. The components of a wood framing system are made of wood. To build a structural frame, this framework consists of floor joists, studded walls, and other wooden components.  

Moreover, wooden formwork has been widely used in building since ancient times, making it the oldest type of form in the industry. They are used more frequently because plywood and wood shutters are less expensive and more readily accessible, so they are used more frequently. Factors such as the ease of making wooden shutters compared to other materials and the lower cost of labor compared to the purchase of reusable formwork material mean that these systems are suited for small-scale projects.

Market Scope and Structure Analysis

Description

Wooden formwork includes operations such as beam formworks, climbing formworks, staircase shuttering, and flexible formwork, construction of roads with concrete, and metallic shuttering. Among all the possible formwork materials, timber formwork is one of the most regularly adopted. This material allows for on-site manufacture of desired size & form and is simple to work with in the construction industry. Plywood and timber have various advantages such as easy availability, cost-effective, and high strength.

These factors are expected to propel wooden formwork market growth. Plywood is in great demand due to its well-seasoned nature, light-weight, low risk of split nails, and lack of loose knots. Another significant benefit of these constructions is their lower energy use. As a result, wooden formwork is employed in structures and industrial facilities to achieve optimum efficiency.

COVID-19 Impact Analysis

• The COVID-19 pandemic halted the production of various products in the wooden formwork systems industry, which is attributed to the global lockdown. This has hampered the growth of wooden formwork systems market from the last few months and is likely to continue through 2022.
• COVID-19 affected the sales of wooden formwork systems in the first quarter of 2021 and is anticipated to have a negative impact on the market growth throughout the year.
• The major demand for wooden formwork systems was previously noticed from giant manufacturing countries, like North America, Europe, Asia-Pacific, and South America, which are negatively affected by the spread of the coronavirus, thereby declining the demand for wooden framework systems.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Wooden formwork systems manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
• Wooden formwork systems manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distance, and ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

The market is expanding as a result of growing construction sector supported by favorable government assistance and a preference for developing green buildings. Similarly, lumber and plywood have a greater penetration rate than other materials and it is less expensive and can be used for several purposes. 

Furthermore, wooden formwork proven to be a better choice in construction industry. Product demand from the construction sector is positively impacted by the growing preference for energy-efficient solutions that use less resources and provide higher productivity. Villa and independent residential construction are two of the most important possible end uses for the wooden formwork sector. This product meets structural requirements such as easy assembly, easy handling and, if necessary, dismantling, making it ideal for the housing industry. The sector is expected to increase as a result of consistent quality production owing to standardized and pre-made molds that are reusable and take less time to create.

• In November 2020, Doka expanded its scaffolding business by forming a strategic partnership with American Scaffolding AT-PAC. Doka has a broad variety of scaffolding solutions and services, including engineering and planning, as well as training, assuring transparency in complicated building projects, material flow optimization, and cost-effectiveness.
• Since December 2021, HWS formwork of ULMA has been providing protection and safety perimeter to Mirabella Complex, Canada. HWS Formwork system protects three levels of flooring from the elements and falling objects. Another benefit of the completely self-climbing system is that it creates a work platform that helps in formwork placement.

Key Benefits of the Report

• This study presents the analytical depiction of the wooden formwork systems industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents detailed information related to key drivers, restraints, opportunities, and market share of wooden formwork systems.
• A quantitative analysis highlights the wooden formwork systems growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed wooden formwork systems analysis based on competitive intensity and how the competition will take shape in coming years.

 Wooden Formwork Systems Market Report Highlights