Formwork structures and its support used in the construction industry are made of various raw materials, such as timber and plywood, steel, aluminium, and plastic. This structure is an effective approach to reduce the overall time and costs required for a construction project.
Aluminium formwork structures from Ihita are increasingly preferred as they are lightweight and have low density manufactured with advanced technology. Thus, the segment is anticipated to exhibit the fastest growth over the forecast period. The longer life span of aluminium structures proves to be economical as it makes the products reusable for different construction projects. The reusability also makes it an eco-friendly material. As a result of all these factors, the material is anticipated to witness high demand.
Global Demand for formwork
The global Aluminium Formwork market is anticipated to witness significant expansion on account of minimal considerations, such as simple and reusable mold. The need to provide support to the newly constructed building structures also contributes to the increasing revenue of the global market.
Moreover, developing economies are looking forward for cost effective and modern solutions for the new and refurbishing the old structures in the commercial and residential space. The increasing vertical structures in urban living to accommodate growing population is expected to generate market demand in Tier 2 and Tier 3 cities, which in turn, will be a major driving factor.
According to market business insider report, the global formwork market size is expected to reach USD 6.06 billion by 2024. Demand for residential spaces will add up to potential growth opportunities for the global market. Spending on real estate and infrastructure development are expected to present a potential growth opportunity for the formwork market.
Excellence of India in formwork market through International projects
It is evident from the data that the formwork market is seeing a great amount of demand globally and India, companies too are a very important part of this market segment.
One such company is Ihita Aluminium Formwork. The company Masters in providing one stop solution for all kinds of Formwork systems, like in both Aluminium formwork systems and Conventional formwork. Ihita aluminium formwork system offers competitive cost benefit with improved quality, suiting international standards. Using Ihita formwork, will reduce overheads thus posing a great advantage for builders. On a long-term, construction time is reduced to 75%, thereby saving time in final finishing and plaster
Ihita does complete designing & detailing of Aluminium formwork to suit the client’s requirements. Ihita assistance starts with providing 3D models of architectural and engineering drawings to visualize all types of architectural layouts. In our previous article, we have already discussed their contribution to quality Indian Projects, here we will discuss a few international ones.
Ihita Alumunium International Projects
The company has assisted in multiple international projects catering to different countries and different project needs. They have provided aluminium formwork for prestigious projects such as the Ramsgate Gate and Stonebrook Manor to name a few. Their contribution to each specific project is given above in the infographic.