What’s driving the Indian market for formwork?
Real Estate

What’s driving the Indian market for formwork?

“Water-related projects such as dams, irrigation initiatives and water treatment plants, transportation-related projects such as bridges, flyovers, tunnels, roads, and airports, and the development of smart cities are key demand drivers,” says Dilip Mahajan, General Manager, India Operations, Alsina Formwork (India).

“In India, aluminium formwork systems are mostly in demand for high-rise residential building projects and, to some extent, commercial projects, where these are a good alternative to conventional formwork systems for offering speedy monolithic concreting with a high quality of concrete finishing,” says Sandeep Naikwade, Manager, Sales & Marketing, Durand Forms India.

“The market for formwork is moving but gradually because fewer projects are starting and those that are already underway are progressing very slowly,” says Ketan Shah, Managing Director, MFE Formwork Technology (I), a company that mainly caters to the residential building segment and recently started supplying deck formwork for commercial buildings. However, Shah attests that demand for safety screens for the building perimeter is increasing as companies become more conscious of their responsibility towards the workforce.

PERI India formwork has been used for projects such as the Statue of Unity, Mahatma Mandir, Agra-Lucknow Expressway, and the Hyderabad, Mumbai and Bengaluru metros.

  “We see ample opportunity in the infrastructure development sector, whether it is roads, railways including metro rail, affordable housing or airports,” says Raj Lakhani, Managing Director, PERI (India). “With affordable housing getting infrastructure status, we see a lot of investment moving in that direction, which will amplify our growth potential.”

“Demand for aluminium formwork system is fast growing,” according to Naikwade, who expects the momentum to continue as the number of low-budget housing projects being implemented by the Government and private-sector developers increases.

In general, Mahajan observes that the demand for advanced industrialised formwork systems is increasing above overall growth in demand for formwork. He expects onsite productivity and safety concerns to grow demand for modular formwork systems vis-à-vis conventional site-made shutters as users prefer formwork that is easy to use with less manpower and saves time without compromising on the quality of output.

“Modular formwork is always preferable as formwork manufacturing is not a main business of formwork users,” agrees Sachin More, Head, Formwork, JMC Projects (India).