2025-2034 Concrete Formwork Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights

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What Will the Concrete Formwork Industry Market Size Be by 2025?
The size of the concrete formwork market has significantly expanded in recent years. The increase is expected to continue from a value of $7.39 billion in 2024 to an estimation of $7.81 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.7%. This historical period growth primarily attributes to the acceleration of urbanization, heightened demand for commercial and residential properties, an increase in infrastructure activities, the expansion of prefabricated concrete components, and the heightened consciousness regarding construction safety regulations.

What's the Long-Term Growth Forecast for the Concrete Formwork Market Size Through 2029?
Strong expansion is anticipated in the concrete formwork market in the following few years, with its size projected to reach $9.60 billion by 2029, reflecting a compound annual growth rate (CAGR) of 5.3%. The growth during the forecast period is likely driven by expanding demand for modular and reusable formwork systems, an increase in the construction of high-rise structures, the development of smart cities, a growing preference for permanent insulated formwork, and surging investments in transport infrastructure. The forecast period is expected to witness trends like high-density polymer formwork, 3D-printed formwork panels, eco-friendly alternatives to timber, formwork load simulation software, and digital replicas of construction sites.

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What Are the Key Growth Drivers Fueling the Concrete Formwork Market Expansion?
Growth in the infrastructure development sector is predicted to fuel the expansion of the concrete formwork market in the future. This sector primarily pertains to the creation and improvement of basic amenities such as roads, bridges, tunnels, airports, and public buildings, all of which support economic and social activities. Urbanization has led to a surge in the need for infrastructure development, given the necessity for enhanced transportation, housing, and public utilities to meet the requirements of burgeoning populations. Concrete formwork, used to mould and support structures such as bridges, tunnels, highways, and foundations until they achieve adequate strength, is a crucial component of this infrastructure development. For instance, as reported by the UK Office for National Statistics (ONS) in July 2024, there was a 9.6% year-over-year increase in total general government investment in infrastructure in 2022, amounting to $33.54 billion (£26.0 billion) at current prices. Therefore, the escalating demand for infrastructure development is boosting the expansion of the concrete formwork market.

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What Are the Key Trends Driving Concrete Formwork Market Growth?
Leading businesses in the concrete formwork industry are prioritising the creation of innovative formwork solutions like the imperial formwork system to boost construction productivity, cut labor expense, and enhance structural accuracy. The imperial formwork system is an adaptable and reusable formwork method designed to simplify concrete construction by offering superior strength, precision, and simplifying assembly for walls, slabs, and columns. For example, PERI Formwork Systems Inc., a Germany-based company specialising in formwork and scaffolding solutions, introduced the SKYFLEX system in January 2025. The system incorporates an imperial 8'x8' grid beam design aimed at boosting efficiency, safety, and speed at the construction site. The design's larger bay sizes necessitate fewer props, significantly improving deck productivity. Moreover, the protected six-way drophead promotes early striking and safer working conditions, enabling workers to work primarily from the slab interior and ground, especially near cantilevered edges. Additionally, PERI debuted LEVO, its inaugural fully imperial lightweight wall formwork system, featuring a 9'x3' panel weighing only 6.6 lbs/sq ft. Exclusively designed for the U.S. market, LEVO facilitates easier handling, optimised transport logistics, and smooth vertical assembly while ensuring durability and high performance.

How Is the Concrete Formwork Market Segmented?
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) 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

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Which Companies Are Leading the Charge in Concrete Formwork Market Innovation?
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.

Which Regions Are Leading the Global Concrete Formwork Market in Revenue?
North America was the largest region in the concrete formwork market in 2024. 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, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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