Formwork Panel Market Report 2026

The formwork panel market size has grown strongly in recent years. It will grow from $6.93 billion in 2025 to $7.42 billion in 2026 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to rising use of modular construction systems, increasing dependence on high-strength panel materials, expansion of infrastructure development, growing adoption of reusable formwork solutions, increasing need for precision concrete shaping.

The formwork panel market size is expected to see strong growth in the next few years. It will grow to $9.65 billion in 2030 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to development of lightweight composite panels, rising adoption of automated formwork systems, expansion of smart construction technologies, increasing demand for sustainable panel materials, growth in high-rise and large-scale construction projects. Major trends in the forecast period include integration of AI-based panel design optimization, adoption of eco-friendly panel materials, automation in formwork panel fabrication, use of robotics for panel handling, expansion of digital project monitoring tools.

The rising demand for infrastructure development is expected to drive the growth of the formwork panel market in the coming years. Infrastructure development involves the construction and improvement of essential facilities such as roads, bridges, railways, and public utilities. This demand is fueled by increasing urban populations that require enhanced transportation and utility networks, alongside rapid urban migration and large-scale government-funded projects. Formwork panels play a crucial role in supporting infrastructure growth by enabling faster, more precise, and cost-effective concrete structuring for major construction projects. For example, in July 2024, the Office for National Statistics, a UK-based government department, reported that investment in infrastructure reached £13.8 billion ($16.07 billion) in 2023 at constant prices, marking a 3.9% increase compared to 2022. As a result, the need for infrastructure development is contributing significantly to the expansion of the formwork panel market.

Key players in the formwork panel market are focusing on developing advanced solutions, such as lightweight and modular slab formwork systems, to address the growing demand for faster construction cycles and cost-efficient building methods. These systems are designed to replace traditional heavy timber or steel formwork by offering durable, reusable, and easily adjustable panels that reduce both labor and material requirements. For example, in June 2023, MEVA, a Germany-based formwork systems provider, introduced MonoDec, an innovative slab formwork solution consisting of panels, primary beams, drop heads, and props. MonoDec features lightweight aluminum panels weighing just 18.5 kg/m², supports slab thicknesses up to 350 mm, and allows rapid installation and dismantling. Its drop-head system reduces material usage by 40% and enables early striking of panels and beams for reuse on upper levels. The aluminum panels are fully recyclable, easy to clean, and adaptable to any building layout with customizable panel lengths. Additionally, MonoDec is compatible with various shoring systems and incorporates integrated provisions for guardrails to ensure worker safety.

In April 2024, Doka GmbH, an Austria-based formwork and scaffolding technology provider, acquired MFE Formwork Technology for an undisclosed amount. This acquisition positions Doka as a comprehensive global supplier of formwork and scaffolding solutions by integrating MFE’s expertise in monolithic aluminum formwork. It also strengthens Doka’s strategic foothold in Southeast Asia and the Pacific, while expanding its presence in high-rise, infrastructure, and residential construction markets. MFE Formwork Technology is a Malaysia-based manufacturer of aluminum formwork panels for a variety of construction applications.

Major companies operating in the formwork panel market are Doka GmbH, PERI SE, RMD Kwikform Limited, Jiangxi Geto New Materials Corporation Limited, ULMA Construction, MEVA Schalungs-Systeme GmbH, Alpi S.E.A. S.r.l., Beijing Zulin Formwork & Scaffolding Co. Ltd., Wall-Ties & Forms Inc., Construx b.v., MenaForm, Sateco S.A.S., RINGER GmbH, ACROW Misr, Condor S.p.A., Intek Srl, Encofrados Alsina, NOE-Schaltechnik Georg Meyer-Keller GmbH + Co. KG, Suzhou TECON Construction Technology Co. Ltd., Shijiazhuang Trico Hardware Products Co. Ltd.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are influencing the formwork panel market by increasing costs for imported plywood, steel, aluminum, and polymer composites used in panel manufacturing. Residential, commercial, industrial, and infrastructure construction in regions dependent on imported raw materialssuch as Asia-Pacific, Europe, and North Americaare most affected. However, tariffs are enabling domestic material sourcing, regional metal processing, and innovation in lightweight high-strength formwork solutions, improving long-term supply chain resilience.

The formwork panel market research report is one of a series of new reports that provides formwork panel market statistics, including the formwork panel industry global market size, regional shares, competitors with the formwork panel market share, detailed formwork panel market segments, market trends, opportunities, and any further data you may need to thrive in the formwork panel industry. This formwork panel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Formwork panels act as temporary or permanent molds that shape and support freshly poured concrete until it hardens and achieves structural stability. They play a vital role in construction by ensuring proper alignment and form during the curing stage. These panels are key to enhancing construction precision, safety, and overall project efficiency.

The primary types of formwork panels include single-sided panels, double-sided panels, climbing panels, specialized panels, and standard panels. Single-sided panels are designed for situations where only one side is accessible, allowing safe and efficient casting in tight spaces or against surfaces such as soil or existing structures. Various system types are used, including traditional formwork, modular formwork, folding formwork, climbing formwork, and table formwork. They are manufactured from different materials, such as plywood, steel, aluminum, plastic, and fiber-reinforced polymer (FRP). Applications span residential construction, commercial construction, infrastructure projects, industrial construction, and DIY projects, with end users including construction companies, architectural firms, engineering firms, government bodies, and real estate developers.North America was the largest region in the formwork panel market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in formwork panel report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the formwork panel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The formwork panel market consists of sales of modular formwork panels, tunnel formwork panels, table form panels, and flexible formwork panels. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.