What is Mivan Shuttering? Benefits, Process & Comparison
April 15, 2025
Aluminium Formwork Market Analysis in India
Aluminium formwork technology is a relatively new innovation in the construction industry of India. It is now forming part of almost every modern construction project in India because of its speed, accuracy, and sustainability. In this post, we will analyze the India Aluminium Formwork System market with a focus on its dynamics, trends, major players, and strategic insights.
Market Size and Forecast
As per the market report, the India Aluminium Formwork System Market is estimated to have grown from US$ 5,618.35 million in 2021 to US$ 7,486.32 million by 2028, marking an average growth of 5.3% per linear year within the 2022-2028 timeframe. The primary factors boosting the market include urban development, new policies put in place by the government, and an uptick in infrastructural spending.
Industry Segmentation
By Material Composition:
- Hybrid Compositions (combinations of the above)
- Mild Steel
- Plastics
- Timber
- Aluminium
By Type:
Services
Solutions
Geographical Focus
This work focuses exclusively on formwork industry in India, said to be one of the fastest developing in the world.
Important Factors Influencing the Market
1. Government Action
The construction of additional infrastructure as part of the Pradhan Mantri Awas Yojana (PMAY), Smart Cities Mission, and Bharatmala Project is increasing the requirement for sophisticated construction methods like aluminium formwork. This along with new government policies will cater for increased demand regarding the construction formwork industry.
2. Increasing Urban Population
The growing population of India, standing tall at over 1.4 billion, fuels urbanization. Aluminum needs for structures of smart design and upscale housing units is prevalent in Tier 1 and Tier 2 cities, and is increasing the supply for commercial areas.
3. Innovations in Technology
More accurate and quicker turnarounds for formwork operations are accomplished through technological means such as 3D BIM, automated design tools, and AI-driven planning by MFE Formwork Technology, Doka, and PERI.
Integration of Various Services
In India, services have been aptly integrated into formwork projects. Companies such as Formwork Services and Supply L.P. and Doka GmbH provide end-to-end service from planning and consultation to implementation and on-site servicing. Their services enable to:
Safeguard constructions against risks
Attain a desired standard in surface finishing
Attain ease in the execution
Conclusion and Recommendations
1. Market Gaps
The acceleration of urbanization creates additional market opportunities in the form of Tier 2 and Tier 3 cities.
There is scope to develop formwork hybrid and fabric innovative materials.
Increasing focus towards reusable and environmentally friendly materials is favoring the adoption of aluminium over conventional systems.
2. Distinct Positioning
Those integrating product and service bundles as well as prioritizing R&D will retain unrivaled market position.
3. Attractiveness for Investment
The segments first movers in rental formwork services, hybrid systems, and engineering support will find appealing high ROI opportunities.
Frequently Asked Questions: Aluminium Formwork System Market in India
How big is the India Aluminum Formwork System Market?
The India Aluminum Formwork System Market is valued at US$ 5,618.35 Million in 2021, it is projected to reach US$ 7,486.32 Million by 2028.
What is the CAGR for India Aluminum Formwork System Market by (2022 - 2028)?
As per our report India Aluminum Formwork System Market, the market size is valued at US$ 5,618.35 Million in 2021, projecting it to reach US$ 7,486.32 Million by 2028. This translates to a CAGR of approximately 5.3% during the forecast period.
What segments are covered in this report?
The India Aluminum Formwork System Market report typically cover these key segments-
- Offering (Solution and Services)
- Material Used (Aluminum, Timber, Plastics, Mild Steels, Hybrid)
What is the historic period, base year, and forecast period taken for India Aluminum Formwork System Market?
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the India Aluminum Formwork System Market report:
- Historic Period : 2019-2020
- Base Year : 2021
- Forecast Period : 2022-2028
Who are the major players in India Aluminum Formwork System Market?
Who should buy this report?
The India Aluminum Formwork System Market report is valuable for diverse stakeholders, including:
- Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
- Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
- Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
- Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
- Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.
Essentially, anyone involved in or considering involvement in the India Aluminum Formwork System Market value chain can benefit from the information contained in a comprehensive market report.
Conclusion
In the context of the growing Indian construction industry, aluminium formwork is helping to achieve building systems that are faster, safer, and more sustainable. With the support of the government and the innovations of major stakeholders, the market is expected to grow significantly in the coming years.
Connect with us today for an unparalleled experience with Aluminium Formwork Construction. CONTACT US
