Concrete Formwork Market Report 2025

The concrete formwork market size has grown strongly in recent years. It will grow from $7.39 billion in 2024 to $7.81 billion in 2025 at a compound annual growth rate (CAGR) of 5.7%. The growth during the historic period can be attributed to rapid urbanization, rising demand for residential and commercial buildings, expansion of infrastructure projects, growth in prefabricated concrete components, and increased awareness of construction safety standards.

The concrete formwork market size is expected to see strong growth in the next few years. It will grow to $9.6 billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth projected for the forecast period can be attributed to increasing demand for reusable and modular formwork systems, rising construction of high-rise buildings, expansion of smart cities, growing preference for permanent insulated formwork, and increased investments in transportation infrastructure. Key trends during this period include the use of high-density polymer formwork, 3D-printed formwork panels, eco-friendly timber alternatives, formwork load simulation software, and digital twins of construction sites.

The increasing demand for infrastructure development is expected to drive the growth of the concrete formwork market in the coming years. Infrastructure development involves constructing and upgrading essential facilities such as roads, bridges, tunnels, airports, and public buildings that support economic and social activities. Urbanization is fueling this demand, as expanding cities require enhanced transportation networks, housing, and public utilities to accommodate growing populations. Concrete formwork plays a critical role by shaping and supporting poured concrete structures such as bridges, tunnels, highways, and foundations until they achieve adequate strength. For example, according to the UK’s Office for National Statistics (ONS), total general government investment in infrastructure grew by 9.6% year-over-year in 2022, reaching $33.54 billion (£26 billion) at current prices. Therefore, the rising demand for infrastructure development is propelling the concrete formwork market’s growth.

Key companies in the concrete formwork market are innovating with advanced solutions such as the imperial formwork system to boost construction efficiency, lower labor costs, and enhance structural accuracy. The imperial formwork system is a modular, reusable solution designed to streamline concrete construction by providing high strength, precision, and easy assembly for walls, slabs, and columns. For instance, in January 2025, PERI Formwork Systems Inc., a Germany-based provider of formwork and scaffolding, launched the SKYFLEX system featuring an imperial 8’x8’ grid beam configuration that improves efficiency, safety, and speed on-site. Larger bay sizes reduce the number of required props, significantly increasing deck productivity, while its patented six-way drophead allows for early striking and safer operations, enabling workers to perform tasks primarily from within the slab interior and the ground, especially near cantilevered edges. Additionally, PERI introduced LEVO, its first fully imperial lightweight wall formwork system, with 9’x3’ panels weighing just 6.6 lbs/sq ft. Designed for the U.S. market, LEVO offers easy handling, improved transport logistics, and simplified vertical assembly while maintaining durability and performance.

In May 2025, Superior Concrete Products, a U.S.-based manufacturer of decorative precast concrete wall and fencing systems, acquired Advanced Forming Technologies (AFTEC) for an undisclosed amount. This acquisition aims to broaden Superior Concrete Products’ precast offerings and geographic reach to capitalize on rising demand from data centers, infrastructure projects, and new construction. AFTEC is a U.S.-based designer and manufacturer specializing in precast concrete wall-forming systems.

Major players 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, and Mayra Aluminium Formwork.

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 concrete formwork report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the concrete formwork market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the construction sector, particularly in materials procurement and project costs. Higher duties on imported steel, aluminum, lumber, and machinery have driven up expenses for builders, contractors, and infrastructure developers, leading to increased project bids and delayed timelines. Construction equipment manufacturers face similar challenges, with tariffs on essential components and raw materials inflating production costs and squeezing margins. Additionally, retaliatory tariffs in international markets have curtailed exports of U.S.-made construction equipment and materials, further affecting profitability. The sector must now prioritize local sourcing, modular construction techniques, and supply chain diversification to control costs and ensure project viability amid ongoing trade uncertainties.

Concrete formwork refers to temporary or permanent molds used to hold freshly poured concrete in place until it hardens and attains sufficient strength. Its primary purpose is to shape the concrete structure according to design specifications while ensuring structural integrity and a quality surface finish.

The main types of concrete formwork include traditional timber formwork, engineered formwork systems, reusable plastic formwork, stay-in-place formwork, permanent insulated formwork, and others. Traditional timber formwork is a temporary structure made of wood that supports and shapes poured concrete until it solidifies and gains strength. Formwork materials include wood, steel, aluminum, plastic, and others. Various accessories and components such as formwork ties, support systems, bracing, formwork accessories, and waterproofing systems are also used. Concrete formwork finds applications in buildings, transportation, industrial facilities, and other areas, serving both residential and non-residential end uses.

The concrete formwork market research report is one of a series of new reports that provides concrete formwork market statistics, including the concrete formwork industry global market size, regional shares, competitors with the concrete formwork market share, detailed concrete formwork market segments, market trends, and opportunities, and any further data you may need to thrive in the concrete formwork industry. This concrete formwork 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.

The concrete formwork market consists of sales of engineered formwork systems, reusable plastic and timber formwork, permanent insulated formwork, modular formwork, slipform systems, and climbing formwork. These offerings support efficient, safe, and sustainable construction across residential, commercial, and infrastructure sectors. 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.