Formwork Plywood Market Size is Expected to Grow at 5.9% CAGR with US$ 9.32 Billion by 2031 | The Insight Partners

Formwork Systems market Share research includes key company profiles like Alsina Formwork, Brand Industrial ServicesInc, Doka GmbH, Efco Corp, Forsa S.A, Meva Formwork Systems, MFE Formwork Technology Sdn Bhd, Paschal International, PERI

/EIN News/ -- US & Canada, April 07, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global formwork systems market is observing healthy growth with infrastructure development projects encompassing a wide range of construction activities.

The report carries out an in-depth analysis of market trends, key players, and future opportunities. In the competitive market, builders and contractors are undergoing competition with respect to the use of advanced building materials. This aspect includes the adoption of economic scaffolding & formwork solutions while boosting the safety of workers as well as the speed and quality of building materials.

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Overview of Report Findings

1. Market Growth: The Formwork Systems market is expected to reach US$ 9.32 billion by 2031 from US$ 6.32 billion in 2024; it is expected to record a CAGR of 5.9% during the forecast period. Infrastructure development projects encompass a wide range of construction activities, including the construction of roads, bridges, tunnels, dams, and airports, among others. These projects require various types of formwork systems to shape and support concrete structures. As infrastructure development surges, the demand for formwork systems rises. Infrastructure projects often involve complex designs and large-scale structures. Formwork systems provide the necessary molds and support to create these structures efficiently and with precision. Contractors rely on advanced formwork solutions to meet the specific requirements of these projects. Governments of various countries invest in infrastructure development, such as highways, railways, airports, public utilities, and other large-scale projects, which require complex formwork solutions.
2. Rental services offer a flexible and cost-effective solution for construction companies, contractors, and various industries that require temporary access solutions. Renting a formwork system is often more cost-effective than purchasing, as it eliminates the need for a large upfront investment. This appeals to businesses looking to manage expenses while still accessing quality formwork systems. Infrastructure projects often involve complex designs and large-scale structures. Different projects have varying formwork requirements based on their scope, size, and complexity. Rental services provide the flexibility to choose the most suitable formwork system for the specific project's needs. Rental services allow access to the formwork system only when needed, avoiding the need for long-term storage. The growth of rental services aligns with the changing dynamics of the construction industry, where flexibility, efficiency, and cost savings are increasingly valued. With the expansion of rental offerings becoming more tailored to various project types, the formwork system market is growing significantly due to the accessibility and benefits provided by rental services.
3. The introduction of wireless temperature monitoring formwork systems, tunnel formwork, fiberglass shuttering, concrete form lining formwork, and semi-system formwork is expected to fuel the growth of the formwork system market in the coming years.
4. Fiberglass shuttering: The fiberglass-reinforced plywood system is key to a perfect cast roof with a smooth finish, which does not need plastering. The fiberglass shuttering building systems are a revolution around shuttering owing to their simplicity, lightness, solidity, durability, and resistance to temperature changes. Additionally, fiberglass shuttering provides simplification of shuttering with the same mechanical properties of different shuttering systems.
5. Tunnel formwork: The tunnel form is a formwork system enabling the contractor to cast slabs & walls in one operation on a daily cycle. The tunnel formwork unites quality, accuracy, and speed with flexibility and economy of in-situ construction. Also, hi-tech technologies of steel formwork production make the tunnel formwork durable and stronger. The system can create efficient load-bearing structures that are also known as earthquake-resistant structures. Therefore, the advent of new formwork technologies would lead to new future trends in the formwork system market.
6. Geographical Insights: Geographically, the formwork system market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. In 2022, the largest revenue share of the global formwork system market was held by APAC; it is also expected to register the highest growth rate in the global formwork system market during the forecast period. This growth is attributed to growing urbanization. A large population in the region has been posing high demand for commercial and residential construction. Moreover, construction activity is growing significantly in Southeast Asia, which is expected to support the growth of the formwork system market in the region.

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Market Segmentation

• Based on offering, the global formwork system market is bifurcated into solutions and services. The solutions segment is dominating the formwork system market, owing to the increasing construction of flat/curved and small/large concrete structures.
• Based on material used, the global formwork system market is categorized into wood, metal, and others. The wood formwork segment dominated the market as timber and plywood are traditional formwork, which has increasingly been used in construction for a long duration. Also, their multi-reuse feature is boosting their adoption in the construction sector.

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Competitive Strategy and Development

• Key Players: A few of the major companies operating in the Formwork Systems market are Alsina Formwork, Brand Industrial Services, Inc; Doka GmbH; Efco Corp.; Forsa S.A; Meva Formwork Systems; MFE Formwork Technology Sdn Bhd; Paschal International; PERI; and Shandong Xingang Formwork Co., Ltd. are among the key market players with significant market share that are profiled in this formwork system market study.
• Trending Topics: Façade Market, Construction Scaffolding Market etc.

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Global Headlines on Formwork Systems Market 

• PASCHAL is once again in demand as a formwork and scaffolding specialist for the Bjarke Ingels Group project in cooperation with LM Byg A/S. The PASCHAL customer, Pihl Consortium, used 800 m² of the LOGO.3 wall formwork systems, 12 climbing systems, 240 and 200 tonnes of scaffolding, supplementary and connecting materials to form beams, wall structures, the lift shaft and the staircase structures inside and outside. The formwork for these demanding tasks was implemented swiftly as planned.
• DOKA GmBH formed strategic partnership with American scaffolding manufacturer AT-PAC. The company enhanced its product and service portfolio for the market. With the addition of new scaffolding products and services, the company strengthened the solution offering for customers.
• In order to create more living space in Bremen's city center, an apartment building with 15 residential units is currently being built on an empty lot in Blumenstraße. The executing construction company Gerdes + Landwehr Bau GmbH relies on formwork from PASCHAL for producing the in-situ concrete components.
• Brand Industrial Services, Inc. collaborated Windsor-Detroit Bridge Authority to complete Gordie Howe International Bridge. The company is providing formwork, falsework, stair towers, and access platforms for the 2.5 KM length bridge.

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Conclusion

Factors such as the growing construction industry supported by favorable government assistance and inclination towards constructing green buildings are impacting the infrastructural projects; which drive the demand for formwork solutions. Also, penetration of timber & plywood is high over other materials as it is available at a lesser price and can be used for multiple purposes. Moreover, with the advent of sophisticated technologies such as tunnel formwork, fiberglass shuttering, and wireless temperature monitoring, formwork systems in the formwork industry are projected to generate ample growth prospects for formwork in the coming years.

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