Formwork Plywood: A Leading Driver Behind Increasing Construction Activities Fuelling The Growth Due To Rising Urban Development And Infrastructure Expansion Market Expansion in 2025

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What Will the Formwork Plywood Industry Market Size Be by 2025?
There has been a consistent growth in the formwork plywood market size in the past few years. The market is projected to escalate from $7.56 billion in 2024 to $7.85 billion in 2025, recording a compound annual growth rate (CAGR) of 3.9%. The historical period growth is linked to the rise in demand for residential houses, enhancement in transportation infrastructure, reconstruction activities following natural calamities, increase in industrial building projects, and concentration on minimising waste at construction sites.

What's the Long-Term Growth Forecast for the Formwork Plywood Market Size Through 2029?
The market size for formwork plywood is projected to experience consistent expansion in the coming years, reaching a value of $9.02 billion in 2029 with a compound annual growth rate (CAGR) of 3.5%. This growth for the forecasted period is due to various factors including increased construction activities worldwide, swift urbanization in emerging countries, governmental spending on infrastructure plans, the spread of smart city initiatives, and the rise in commercial real estate expansion. Key trends for the forecasted period encompass developments in plywood varnishes and treatments, the creation of high-performance engineered plywood, the inclusion of digital modeling in formwork planning, the application of computer numerical control (CNC) equipment for precise plywood cutting, and advancements in adhesive technology.

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What Are the Key Growth Drivers Fueling the Formwork Plywood Market Expansion?
The surge in building activities is projected to spur the expansion of the formwork plywood market. Building activities pertain to the undertaking of projects such as erecting, repairing or modifying structures like buildings, roads, bridges and other forms of infrastructure. This growth in construction is driven by urbanization, as burgeoning population densities in cities lead to increased demand for residential, commercial, and infrastructural projects. Formwork plywood aids these building activities by offering robust and reusable moulds that shape concrete structures, thus safeguarding structural integrity and precision. It bolsters project efficiency as it facilitates quick set up and removal, making it indispensable for contemporary construction practices. For example, in April 2025, the United States Census Bureau, an American government agency, reported that expenditure on construction climbed to $2,156,495 million in 2024, marking an increment from $2,023,662 million in 2023. As such, the growth in construction activities is powering the expansion of the formwork plywood market. The rise in investments in infrastructure is projected to fuel the growth of the formwork plywood market. Investments in infrastructure involve the allocation of funds for the establishment and upkeep of vital systems such as roads, bridges, energy, water and communication networks to foster socio-economic progress. This upsurge in infrastructure investments is attributed to urbanization and population increase, as escalating urban populations put pressure on existing infrastructure, thereby necessitating novel development and enhancements. These infrastructure investments activate the demand for formwork plywood by hastening major construction projects such as bridges, roads, and tunnels. Formwork plywood enables these advancements by offering sturdy, reusable moulds for concrete structures, ensuring accuracy, resilience, and efficient project implementation. For example, in July 2024, the Office for National Statistics, a government department in the UK, revealed that overall government investments in infrastructure totaled $17.25 billion (£13.8 billion) in 2023, signifying a 3.9% rise from 2022. In consequence, the growth in infrastructure investments is powering the expansion of the formwork plywood market.

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What Are the Key Trends Driving Formwork Plywood Market Growth?
Leading firms in the formwork plywood market are prioritizing investments in advanced production technologies like computer numerical control (CNC) machinery. This technology advances accuracy, efficiency, and the quality of products. CNC machinery is an automated system that uses custom software for controlling cutting tools, facilitating exact cutting, shaping, and finalizing of formwork plywood. An example of this was in December 2024, when UK-based PERI Ltd., a supplier of formwork and scaffolding solutions, allocated $335,153 (£250,000) in advanced CNC machinery to boost their customer service and operational productivity. This technological enhancement enables PERI to fine-tune production workflows, minimize material wastage, and provide top-notch formwork plywood with consistent precision. Furthermore, this advanced machinery helps expedite production, addressing the rising need for reliable and long-lasting formwork solutions in the building industry. The latest CNC machine can produce intricate parts like cleat boxes and replacement panels using resilient birch plywood, a primary material for their wall and slab formwork.

How Is the Formwork Plywood Market Segmented?
The formwork plywood market covered in this report is segmented -

1) By Type: Film Faced Plywood, Veneer Plywood, Plastic Coated Plywood, Other Types
2) By Application: Residential Construction, Commercial Construction, Industrial Construction, Infrastructure, Others Applications
3) By End-User: Construction Companies, Contractors, Other End-Users

Subsegments:
1) By Film Faced Plywood: Hardwood Film Faced Plywood, Poplar Film Faced Plywood, Birch Film Faced Plywood, Marine Grade Film Faced Plywood
2) By Veneer Plywood: Hardwood Veneer Plywood, Softwood Veneer Plywood, Decorative Veneer Plywood, Structural Veneer Plywood
3) By Plastic Coated Plywood: Polypropylene Coated Plywood, PVC Coated Plywood, High-Density Polyethylene (HDPE) Coated Plywood, Reusable Plastic Coated Plywood
4) By Other Types: Medium-Density Fiberboard (MDF) Based Panels Composite Plywood Panels, High Pressure Laminate (HPL) Plywood, Oriented Strand Board (OSB), Composite Plywood Panels

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Which Companies Are Leading the Charge in Formwork Plywood Market Innovation?
Major companies operating in the formwork plywood market are UFP Industries Inc., Weyerhaeuser Co., PERI SE, Doka GmbH, ULMA Construction Srl, Century Plyboards (India) Ltd., Koskisen Oyj, Shandong Xingang Group Co. Ltd., Greenply Industries Ltd., Metsa Wood, UPM Plywood, Alsina Formwork Solutions S.A., Adto Group Co. Limited, SVEZA Co., Tulsa S.A., Hunan Zhongnan Shenjian Group Co. Ltd., Vinawood Co. Ltd., Jiangsu Hanbao Group Co. Ltd., Jiangsu Jinhai Plywood Co. Ltd., Segezha Group LLC, ROC International Co. Limited

Which Regions Are Leading the Global Formwork Plywood Market in Revenue?
North America was the largest region in the formwork plywood market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the formwork plywood market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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