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Concrete Formwork Market Growth Analysis: How Will Revenue Expand During The Forecast Period?
The concrete formwork market has demonstrated strong expansion in recent years. It is anticipated to increase from $7.81 billion in 2025 to $8.23 billion in 2026, achieving a compound annual growth rate (CAGR) of 5.5%. This historical growth can be linked to the rising use of modular formwork systems, an increasing demand for insulated permanent formwork, growth in high-rise and infrastructure construction, the rising adoption of reusable plastic formwork, and the expansion of engineered steel and aluminum formwork applications.
The concrete formwork market size is projected to experience substantial growth in the coming years, attaining a value of $10.08 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.2%. This expected expansion during the forecast period is largely attributed to a rising demand for lightweight composite formwork, increased integration of digital design tools, the wider availability of sustainable formwork materials, advancements in automated construction technologies, and the development of sophisticated stay-in-place formwork systems. Significant trends during this period are set to include the incorporation of AI-powered formwork design and planning, progress in automated formwork fabrication systems, the expansion of sustainable reusable formwork materials, the adoption of smart sensor-enabled formwork monitoring, and the proliferation of digital project management and simulation platforms.
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#Concrete Formwork Market Growth Drivers And Industry Catalysts
The anticipated expansion of the concrete formwork market is largely due to the increasing need for infrastructure development. This development encompasses the building and improvement of essential facilities like roads, bridges, tunnels, airports, and public structures, which are vital for economic and social functions. Furthermore, urbanization contributes to this demand as cities expand their transportation, housing, and public utility networks to support their expanding populations. Concrete formwork plays a crucial role in infrastructure projects by molding and supporting poured concrete elements such as bridges, tunnels, highways, and foundations until they achieve adequate strength. An illustrative example comes from February 2024, where the UK’s Infrastructure and Projects Authority reported a planned investment of £164 ($214.18) billion in significant infrastructure and construction projects for 2024/25, surpassing the previous year’s figure. Projections for the next ten years indicate total investments could range from £700 ($914.16) billion to £775 ($1012.11) billion. Consequently, the escalating need for infrastructure development is a primary catalyst for the expansion of the concrete formwork market.
Concrete Formwork Market Segmentation: How Is The Market Structured Across Key Categories?
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 Trends Influencing Long-Term Demand
Major companies in the concrete formwork market are concentrating on developing innovative formwork solutions, such as the imperial formwork system, to improve construction efficiency, cut labor costs, and achieve better structural precision. The imperial formwork system is a modular and reusable formwork design intended to streamline concrete construction by providing high strength, accuracy, and ease of assembly for various structures like walls, slabs, and columns. For example, in January 2025, PERI Formwork Systems Inc., a Germany-based supplier of formwork and scaffolding solutions, introduced the SKYFLEX system, which features an imperial 8’x8’ grid beam configuration designed to boost efficiency, safety, and speed at job sites. Its larger bay sizes require fewer props, significantly increasing deck productivity, while the patented six-way drophead allows for early striking and safer operations, enabling workers to perform tasks from inside the slab interior and primarily from the ground, especially near cantilevered edges. Additionally, PERI launched LEVO, its first entirely imperial lightweight wall formwork system, which includes a 9’x3’ panel weighing only 6.6 lbs/sq ft. Developed specifically for the U.S. market, LEVO facilitates easy handling, enhanced transportation logistics, and simplified vertical assembly while maintaining durability and high-performance capabilities.
Concrete Formwork Market Competitive Landscape And Leading Companies
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 Distribution: Which Areas Drive Market Expansion?
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.