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Concrete Formwork Market Value Growth And Long-Term Outlook
The concrete formwork market size has witnessed substantial growth in recent years. It is anticipated to increase from $7.81 billion in 2025 to $8.23 billion in 2026, registering a compound annual growth rate (CAGR) of 5.5%. This historical expansion is attributable to factors such as the increasing utilization of modular formwork systems, a surging demand for insulated permanent formwork, the rise in high-rise and infrastructure construction projects, the growing acceptance of reusable plastic formwork, and the wider application of engineered steel and aluminum formwork.
The concrete formwork market is anticipated to experience significant expansion over the coming years. Its value is projected to reach $10.08 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 5.2%. This projected growth during the forecast period stems from several factors, including the increasing demand for lightweight composite formwork, the growing adoption of digital design tools, the wider availability of sustainable formwork materials, advancements in automated construction technologies, and the creation of sophisticated stay-in-place formwork systems. Key developments expected during this time involve the incorporation of AI into formwork design and planning, improvements in automated formwork fabrication systems, an increase in the use of sustainable reusable formwork materials, the implementation of smart sensor-enabled monitoring for formwork, and the proliferation of digital project management and simulation platforms.
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Concrete Formwork Market Development Factors: What’s Supporting Demand?
The concrete formwork market is projected to grow due to the increasing requirement for infrastructure development. Infrastructure development involves constructing and upgrading essential facilities like roads, bridges, tunnels, airports, and public buildings that are vital for economic and social functions. The phenomenon of urbanization is driving greater demand for infrastructure, as cities need expanded transportation, housing, and public utilities to accommodate their expanding populations. Concrete formwork is utilized in infrastructure projects to mold and support poured concrete structures such as bridges, tunnels, highways, and foundations until they harden sufficiently. For example, in February 2024, the Infrastructure and Projects Authority, a UK-based government agency, indicated that the planned investment of £164 ($214.18) billion in significant infrastructure and construction projects for 2024/25 exceeds the investment made in 2023/24. Over the subsequent ten years, total anticipated investments are estimated to fall within the range of £700 ($914.16) billion to £775 ($1012.11) billion. Therefore, the escalating demand for infrastructure development is a primary catalyst for the concrete formwork market’s expansion.
Concrete Formwork Market Segment Trends And Revenue Contributors
The concrete formwork market covered in this report is segmented –
1) By Type: Traditional Timber Formwork, Engineered Formwork Systems, Reusable Plastic Formwork, Stay In Place Formwork, Permanent Insulated Formwork, Other Types
2) By Material: Wood, Steel, Aluminum, Plastic, Other Materials
3) By Accessories And Components: Formwork Ties, Support Systems, Bracing, Formwork Accessories, Waterproofing Systems
4) By Application: Buildings, Transportation, Industrial Facilities, Other Applications
5) By End Use: Residential, Non Residential
Subsegments:
1) By Traditional Timber Formwork: Plywood Formwork, Lumber Formwork, Sheathing Panels, Timber Beams, Framing Systems
2) By Engineered Formwork Systems: Steel Formwork, Aluminum Formwork, Modular Formwork Systems, Tunnel Formwork, Crane-Handled Formwork
3) By Reusable Plastic Formwork: Modular Interlocking Panels, Polypropylene Panels, Plastic Composite Systems, Lightweight Plastic Panels
4) By Stay In Place Formwork: Fiber Reinforced Polymer (FRP) Forms, Corrugated Steel Forms, Precast Concrete Forms, Polyvinyl Chloride (PVC) Forms
5) By Permanent Insulated Formwork: Expanded Polystyrene (EPS) Forms, Extruded Polystyrene (XPS) Forms, Polyurethane Foam Forms, Cement-Bonded Wood Fiber Forms
6) By Other Types: Fabric Formwork, 3D Printed Formwork, Hybrid Composite Formwork, Cardboard Formwork
Concrete Formwork Market Transformation Trends: What Innovations Are Driving Change?
Leading firms in the concrete formwork market are concentrating on creating advanced formwork solutions, including the imperial formwork system, with the aim of boosting construction efficiency, decreasing labor expenses, and refining structural accuracy. This imperial formwork system represents a modular and reusable approach, engineered to simplify concrete construction through its provision of superior strength, precise execution, and straightforward assembly for various structural components like walls, slabs, and columns. As an illustration, in January 2025, PERI Formwork Systems Inc., a Germany-based supplier of formwork and scaffolding solutions, unveiled the SKYFLEX system, which incorporates an imperial 8’x8’ grid beam setup intended to elevate efficiency, safety, and operational speed at construction sites. The system’s expanded bay dimensions necessitate fewer support props, substantially boosting deck productivity, simultaneously, its proprietary six-way drophead facilitates early stripping and safer procedures, empowering personnel to conduct work from inside the slab and predominantly from ground level, particularly around cantilevered sections. Furthermore, PERI launched LEVO, its inaugural entirely imperial lightweight wall formwork system, characterized by a 9’x3’ panel that weighs only 6.6 lbs/sq ft. Specifically developed for the U.S. market, LEVO provides effortless handling, enhanced transportation efficiencies, and streamlined vertical setup, all while upholding its durability and robust performance benchmarks.
Concrete Formwork Market Competitive Landscape: Which Companies Lead The Industry?
Major companies operating in the concrete formwork market are PERI Group, Kumkang Kind Co. Ltd., Knest Aluform, Aluma Systems, ULMA Group, MEVA Formwork Systems, Form Tech, Condor S.p.A., Winntus Formwork Pvt. Ltd, MFE Formwork Technology Sdn Bhd, Constro Systems, German Formwork Technology GmbH, GETO AG, PASCHAL group, TMS Formwork And Scaffolding Systems Pvt. Ltd., Acrow Formwork Technology, Farina Formworks, Finomax Scaffolding I Pvt. Ltd., Anshteich Formwork Systems Pvt Ltd, Mayra Aluminium Formwork.
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Concrete Formwork Market Regional Analysis And Top Geography
North America was the largest region in the concrete formwork market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the concrete formwork market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.
