Increasing adoption of Mivan shuttering to boost Indian formwork market
Construction is one of the major growth sectors of any country. There are various technological advancements happening in the sector which help to increase efficiency and build better infrastructural, residential and industrial projects. While Formwork is an emerging trend in recent times, it has been one of the least adopted technological advancements in the Indian construction sector. In this article, the discussion is on Mivan Shuttering-an aluminium formwork technology developed by a Malaysian firm. It is being widely adopted in the residential sector worldwide.
This article helps in understanding:
- Emerging Trend-Mivan Shuttering
- Various formworks
- Indian and Regional adoption trends
- Future Trends
- Formwork is a temporary structure which is made to support fresh concrete till it becomes strong enough to sustain on its own weight. There are various types of formworks adopted in the market such as wooden, steel, plastic and aluminium.
- Aluminium Formworks are emerging as a recent trend in developing countries mainly in the high-rise residential construction due to its focus on quality, safety and reduction in construction waste generation.
- The increase in adoption of sustainable practices in developing countries is driving the acceptance of aluminium and plastic formworks mainly due to its reusability.
- One of the other main drivers for the adoption of aluminium formwork is its light weight and low cost compared to other conventional options available in the market.
- The Aluminium Formwork has been widely adopted in developed regions such as Europe and North America, but is a relatively new emerging theme in India.
- Formwork plays a vital role especially in high-rise buildings where it becomes necessary to increase productivity, decrease timelines and utilize economies of scale to bring down unit cost.
Mivan / Aluminium formwork
- Mivan is an aluminium formwork system developed by the Mivan Company Ltd from Malaysia. The technology has been used extensively in regions such as Europe, Middle East and Asia.
- Mivan technology uses aluminium formworks to make the buildings more strong and durable. It is a fast-paced technology and is advanced over older methods adopted in India.
- Mivan shuttering is emerging as a major technology in the residential and high-rise building construction in India, as it helps reduce time taken for construction, reduces dependence on labor and reduces cost of the final building.
- Mivan is only an emerging theme and not widely adopted in India. There are various contractors promoting this technology as a move to reduce construction lead time. This is also pushed by the government’s initiative “Housing for all”. Contractors are recognizing the impact that this technology can provide when there are large numbers of similar projects being constructed (Bulk Construction).
Some of the major characteristics of Mivan technology are:
Indian construction market
- India’s construction industry will continue to grow at a CAGR of 5.65 percent from 2016-2020. The residential and infrastructure construction sectors are expected to be the major contributors with the highest growth rate for the next two years.
- According to the 12th five-year plan, an investment of around $1 trillion is expected to be injected into the Indian infrastructure market by 2017 and ~$650 billion has been allotted for urban infrastructure in the coming 20 years.
- Government policies expected in the 2017 budget namely the decrease in interest rates, reduction in land/property taxes and implementation of GST, would increase investments in residential construction followed by investments in industrial plant construction.
- The Formwork market in India is estimated to be INR 15 billion of which 20 percent of the projects are executed through modern formwork systems. The remaining 80 percent projects are executed through conventional methods and remain untapped.
- Due to the high growth in the residential and infrastructure sector, the government has announced the usage of aluminium-plastic formworks in their housing projects to increase speed and quality.
Sources: IBEF, CIDC, Beroe Analysis
Regional adoption of Mivan technology
- The adoption of Mivan formwork is very high in regions with very high demand for residential construction which includes APAC, Middle East and Africa.
- Mivan provides maximum advantage in bulk construction where a similar design is applied across various housing units enabling the usage of the same pre-fabricated formwork across locations.
Comparison of various formworks
The increasing adoption of Mivan and other formwork technology is expected to drastically increase the construction speed and quality of buildings in India. With very little knowledge about these emerging trends, the contractors should work harder to market such technologies and showcase them as differentiating factors compared to their competitors.
Governments of economies with very high demand for residential construction should recognize these emerging themes and provide the necessary push to increase the adoption levels of these technologies in their region. Going forward, there will be an increasing trend in the adoption of plastic formworks which is still at a very nascent stage. Research is underway in the formwork segment to increase sustainability and identify environment-friendly methods to provide better quality of construction.
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