FORMWORK SYSTEM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025-2032)

Global Formwork System Market Size and Forecast – 2025 to 2032

Global formwork system market is estimated to be valued at US$ 7,402.9 Mn in 2025 and is expected to reach US$ 10,633.8 Mn by 2032, exhibiting a compound annual growth rate (CAGR) of 5.3% from 2025 to 2032.

Key Takeaways

• On the basis of Offering Segment, Solution Segment is estimated to contribute the highest market share of 55.9% in 2025 owing to the growing technological innovations.
• In terms of Type, Timber Formwork segment is estimated to contribute the highest market share of 39.2% in 2025, owing to the surging demand for affordable options.
• In terms of Applications, Building’s segment is estimated to contribute the highest market share of 41.1% in 2025, on account of the rising establishment of commercial and residential building.
• Based on Region, North America leads the global formwork system market with an estimated market share of 35.6% in 2025, owing to ongoing infrastructure projects across the region.

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Market Overview

The market is growing due to rapid urbanization and more construction projects worldwide. Concrete formwork is one of the most common methods used in building structures. New technologies like lightweight and modular formwork are becoming popular because they save time and money. The rising demand for insulated panels in cold storage and building insulation will also boost the market. However, the availability of alternatives could slow down growth.

Current Events and Its Impact on the Formwork System Market

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Emerging Use-cases of Framework System

3D Printed Formwork:

• Application: 3D printed formwork is used to create customized concrete molds with complex shapes that traditional methods can’t achieve, all while keeping costs low.
• Example: In January 2025, MIT researchers introduced a technique that uses lightly treated mud, including soil from construction sites, as molds for concrete. This 3D printing method offers a cheaper alternative to the costly wood formwork typically used. Similarly, in December 2021, ETH Zurich researchers developed a way to 3D print formwork from mineral foam to cast geometrically optimized concrete slabs.

Self-Climbing Formwork for High-Rise Structures:

• Application: Self-climbing formwork systems rise as the building grows, removing the need for external cranes and cutting down on labor.
• Example: Doka's Top 50 self-climbing formwork system is used in high-rise construction such as skyscrapers, including projects in Hong Kong, where it enables faster construction and increased safety by minimizing manual labor at heights.

Fabric Formwork for Complex Geometries:

• Application: Flexible, fabric-based formwork is being used for curved and organic concrete structures, offering an alternative to rigid formwork.
• Example: In October 2023, Canadian designer and a lighting brand Bocci, designed the 75.9 House in British Columbia, using flexible fabric-based formwork for curved concrete structures. Set on a farmland site, the home features trumpet-shaped pillars of varying heights, creating wave-like levels and showcasing fabric formwork as a creative alternative to rigid systems for organic architectural designs.

Smart Formwork with IoT Integration:

• Application: Sensors embedded in formwork systems monitor real-time data, including temperature, humidity, and concrete pressure, to optimize curing and ensure structural integrity.
• Example: In October 2024, Doka, a global leader in formwork and scaffolding, introduced the new DokaXact Load & Pressure sensors in Saudi Arabia, allowing for real-time monitoring of the concrete pouring process.

Pricing Analysis in Formwork System Market

Pricing for formwork systems depends on several factors, including material costs, labor, equipment, technology, and regional differences. These elements help determine the final price of formwork systems, from basic to advanced. Here’s a breakdown of the key factors that affect the pricing in the formwork market:

1. Material Costs

• Timber Formwork:
• Timber formwork is one of the most common and economical options. Its price is typically around $10-$25 per square meter, depending on the wood type and quality.
• Steel Formwork:
• Steel formwork is more durable and reusable, making it suitable for larger projects. The cost typically ranges between $25-$60 per square meter.
• Aluminum Formwork:
• Aluminum formwork systems are lightweight and often used for high-precision work. The pricing for aluminum formwork ranges from $40-$75 per square meter.
• Plastic/Modular Formwork:
• Modular and plastic formwork, made from recycled materials, generally costs $20-$50 per square meter.
• Eco-Friendly and Recycled Materials:
• For eco-friendly formwork systems made from recycled plastic or biodegradable materials, prices can range from $30-$70 per square meter.

2. Technology and Automation Costs

• Automated Formwork Systems:
  • Automation in formwork systems (e.g., robotic installation, self-climbing systems, automated material handling) is becoming more prevalent in large-scale and high-efficiency projects. The price for automation systems can range from $100,000 to $500,000, depending on the technology used.
  • Smart Formwork: Some systems integrate technologies such as sensors, IoT, and AI to provide real-time data on stress, load, and concrete curing. These innovations are priced higher, generally between $20,000 and $50,000 per project, but they improve accuracy and reduce human errors.

Segmental Insights

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Formwork System Market Insights, By Offering Segment- Technology advancement drives solution segment

In terms of offering, solution segment is estimated to contribute the highest market share of 55.9% in 2025, due to continuous technological advancement in formwork systems. Solution providers are consistently innovating and developing cutting edge software and hardware tools to enhance efficiency and reduce construction timelines. For example, automated formwork systems that leverage robotics, internet of things (IoT) and artificial intelligence (AI) allow for high precision, minimize human errors and improve quality. For instance, ALLPLAN launched ALLPLAN 2025 in April 2025, featuring AI-driven tools for enhanced design workflows and real-time collaboration. The update includes an automatic formwork wall element assignment and integration of the Peri Maximo formwork system. The excavation modeler now supports soil layer creation and reporting for smaller excavations, boosting efficiency and precision. Digital twin and augmented reality technologies also provide real-time monitoring of projects and virtual simulations to optimize designs. Such solutions have higher upfront costs but deliver significant benefits through automation, resulting in higher returns on investment for clients. Innovation also focuses on sustainability with lightweight, modular and reusable systems. These factors are further creating lucrative formwork system industry opportunities.

Formwork System Market Insights, By Type- Safety compliance drives Timber Formwork segment

In terms of type, timber formwork segment is estimated to contribute the highest market share of 39.2% in 2025, owing to stringent workplace safety compliance and regulations. Standards such as OSHA prioritize safety of construction workers through mandatory use of fall protection, respiratory protection, hazard communication and more. While other materials like steel and aluminum forms offer durability, timber variants are easier to handle manually without heavy machinery. These also provide insulation from heat and noise on job sites. Furthermore, timber comes from renewable sources that makes it a sustainable option. Due to ongoing enforcement of safety protocols, contractors prefer timber forms that facilitate adherence through simplified processes and minimal risks of injuries, further propelling the formwork system market growth.

Formwork System Market Insights, By Applications- Rise of mega construction boosts Buildings segment

In terms of applications, buildings segment is estimated to contribute the highest market share of 41.1% in 2025, due to increasing mega construction globally. Rapid urbanization and growing populations boost a strong pipeline of landmark structures, commercial hubs, residential complexes and smart city projects. For instance, in April 2025, South Africa unveiled a new smart city in the KwaZulu-Natal province, which is expected to incorporate advanced technologies to offer residents a modern, high-quality living experience. Such projects utilize diverse forming solutions to efficiently construct columns, slabs, walls and other elements within tight timelines. Mega building activities also employ innovative formwork techniques like jump forming, slip forming and vertical form travelling to achieve economies of scale. Furthermore, buildings have more customizable and complex designs requiring advanced forming technologies for curved surfaces, interiors and facades, further propelling the formwork system market demand.

Regional Insights

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North America Formwork System Market Trends

North America dominates the overall market with an estimated market share of 35.6% in 2025, owing to strong construction and infrastructure activities in the U.S. and Canada. For instance, in December 2024, PREIT planned to construct a 375-unit apartment building at Moorestown Mall. The region accounts for around 35.5% of the worldwide construction expenditure annually. Major system manufacturers have established their production bases as well as supply chain networks, catering to the robust demand from commercial and civil construction projects in the region. Stringent workplace safety regulations regarding formwork scaffolding have also boosted adoption of engineered formwork solutions in the region.

Asia Pacific Formwork System Market Trends

Asia Pacific has emerged as the fastest growing regional formwork system market due to massive infrastructure development initiatives underway across countries like China, India, Indonesia and Vietnam. For example, in January 2025, Deputy Prime Minister of Vietnam approved a comprehensive plan for urban and rural development with a vision to 2050. Urbanization and industrialization boost large-scale investments in building construction, road & bridge works, and other public works programs. Foreign construction giants are also extensively involved in public private partnership mega projects, which utilize advanced formwork technologies. This has given a fillip to local system suppliers to ramp up their production and construction expertise. Governments are also offering incentives for locally manufacturing construction materials including formwork to boost local production.

Europe Formwork System Market Trends

Europe is another major consumer of formwork systems due to commercial activities in Germany, France, and the U.K. Presence of prominent formwork manufacturers and their extensive dealer network ensures timely availability and service. Stringent worksite safety compliances have boosted technical formwork usage replacing conventional timber forms.

Middle East and Africa Formwork System Market Trends

The market in the Middle East and Africa are witnessing increased adoption of engineered formwork solutions due to ongoing infrastructure thrust under various development programs coupled with increased local manufacturing presence of global brands.

China Formwork System Market Trends

The market in China is one of the most dynamic globally, driven by the country’s massive infrastructure initiatives and urbanization efforts. Major projects like the Beijing Daxing International Airport and the Belt and Road Initiative showcase the nation’s reliance on large-scale, efficient formwork systems. Chinese firms such as PERI China and Zhongwang Aluminum are shifting toward aluminum and steel formwork, offering greater durability and sustainability over traditional wood. These changes align with the government’s green construction goals, encouraging recyclable and energy-efficient materials. Technological advancements are also transforming the sector. Companies are integrating Building Information Modeling (BIM) and automated monitoring to improve safety and productivity. Horizon Form notes that intelligent formwork systems are now standard in high-rise and infrastructure projects across urban centers like Shanghai and Shenzhen. With a growing export footprint and domestic demand, China is a key country in Asia Pacific Formwork Market.

Formwork System Market Trend

Rising Demand from Infrastructure and Construction Projects

The industry is growing because of increased demand for infrastructure and construction projects worldwide. Many countries are investing heavily in buildings, roads, bridges, and other infrastructure. Big projects in rail, road, and bridge networks are happening or planned in countries like China, India, the U.S., Japan, and across Europe. For example, in April 2025, the Indian government approved four railway projects worth INR 18,658 crore to expand the rail network by 1,247 km. In July 2024, China launched a new section of its high-speed rail in Gansu province. These projects are driving the growth of the formwork system market.

All the infrastructures and building activities require formation of concrete structures, which is made with use of formwork systems. Whether it is constructing a multi-story building, casting segments for a long bridge or road overpasses, laying foundation of a dam project, formwork plays a very important role in enabling concrete to attain desired shape and finish. Modern modular formwork systems have now vastly replaced conventional timber formwork due to advantages like reusability, lower cost, safer working conditions, and better surface finish of concrete structure. The surging demand from ongoing and future construction megaprojects is positively influencing the formwork system market forecast.

Emphasis on Green Construction Techniques

Global construction industry is focusing on sustainability and adoption of ‘green’ building practices to reduce environmental impact. Both private developers and public infrastructure agencies are actively promoting use of environment-friendly materials and construction methods. For instance, in March 2025, the CII Indian Green Building Council (IGBC) and Indian Overseas Bank (IOB) signed a Memorandum of Understanding (MoU) to offer accessible and affordable financing solutions for developers and homebuyers engaged in IGBC pre-certified and certified green building projects, promoting sustainable construction practices in India. Formwork plays a vital role here as modular concrete formwork systems allow significant reduction in use of raw materials like wood and results in minimal construction waste generation. As compared to conventional formwork that requires disposal of large quantity of wood after single use, modern formwork is reusable for multiple projects, thus, preventing wastage.

Moreover, prefabricated formwork enables faster project execution which translates to less time spent on-site and reduced fuel consumption from vehicles and equipment. It also results in smoother concrete surfaces requiring lesser finishing work. All these advantages help lower emissions and make projects greener. Strict emission norms and incentives for green buildings in regions like Europe and North America boosts acceptance of advanced formwork that supports sustainability goals. Rising emphasis on green construction techniques can drive the formwork system market growth in the near future.

Market Opportunities: Development of Eco-Friendly and Sustainable Formwork Systems

The growing innovations of sustainable formwork systems can provide a great opportunity for growth of global formwork system market. With increasing awareness around sustainability and environmental protection, construction companies are under pressure to reduce their carbon footprint. Eco-friendly formworks made with recyclable and reused materials allow projects to earn green certification points. For instance, Geoplast provides recycled plastic formwork products that promote more sustainable construction. Each formwork is designed to transform projects with easy manual installation, reusability of over 100 times, enhanced safety. Also, in August 2023, the BioMatters team at the University of Michigan in Ann Arbor introduced a fully biodegradable, reusable, and recyclable material designed to replace traditional concrete formwork in the construction industry. This innovative material is made from upcycled sawdust, addressing the millions of tons of sawdust waste produced annually.

Some emerging eco-friendly formwork systems employ industrialized or prefabricated building techniques to minimize on-site concrete waste. For example, systems that utilize interlocking steel panels or modular plastic form liners help to reduce scrap material generation during formwork erection and stripping. The reusable and modular design of these systems also boosts workflow efficiency on construction sites. Their light weight profile makes easier handling and transportation between projects, reducing logistic costs.

Market concentration and Competitive Landscape

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Formwork System Industry News

• In April 2025, a scaffolding company AT-PAC collaborated with Doka, a formwork company based in Austria to expand its presence across Europe.
• In January 2025, Toyoda Gosei Co., Ltd. made an investment in DigitalArchi Co., Ltd., a startup that produces and sells plastic formworks created with 3D printers to enhance construction efficiency.
• In January 2025, Doka, a global leader in formwork and scaffolding, announced a strategic collaboration with the renowned Dubai-based real estate developer to develop innovative architectural projects in Dubai.
• In January 2023, PERI Vertrieb Deutschland GmbH & Co. KG, a subsidiary of the PERI SE, a Germany-based formwork and scaffolding systems manufacturer, acquired Implenia Schalungsbau GmbH, a company specializing in smart services and complete solutions for formwork
• In September 2021, MEVA Schalungs-Systeme GmbH, a leading manufacturer of formwork systems, acquired Acropol Group, a company specializing in the rental of formwork and shoring towers. This strategic move allowed MEVA to expand its distribution network and gain additional market share in European countries.

Analyst Opinion (Expert Opinion):

• The formwork system market is experiencing a dynamic shift driven by several current events and emerging technological innovations. The most significant impact is the surge in U.S. infrastructure spending under the Infrastructure Investment and Jobs Act (IIJA), with over 70,000 federal-aid highway projects initiated between 2024–2026. This surge is expected to drive a 15% YoY growth in formwork demand through 2025. In addition, the prioritization of mega-projects in the U.S., where federal obligations for projects over $100 million have risen by 75%, is fueling a growing need for high-capacity steel and modular formwork systems, emphasizing durability and scalability.
• Meanwhile, Asia-Pacific's infrastructure boom, particularly in China and India, is set to boost formwork demand at a regional CAGR of 4.6%. With $579 billion invested in greenfield airport projects through 2040, the need for seismic-resistant steel formwork is increasing. The ASEAN Smart City initiatives in countries like Vietnam and Indonesia are also contributing to this demand, where lightweight aluminum formwork is prioritized for island construction.
• On the technology front, the introduction of 3D-printed formwork is a game-changer, offering cost-effective and customizable concrete molds with intricate geometries. MIT’s breakthrough in 3D printing concrete molds using local soil provides a cheaper and more sustainable alternative to traditional wood-based systems. Similarly, self-climbing formwork, like Doka’s Top 50, is gaining traction in high-rise construction by reducing reliance on cranes and manual labor, offering both efficiency and safety.

Market Segmentation 

• Offering Insights (Revenue, US$ Mn, 2020 - 2032)
  • Solution
  • Services
•  Type Insights (Revenue, US$ Mn, 2020 - 2032)
  • Timber Formwork
  • Steel Formwork
  • Aluminum Formwork
  • Others
•  Applications Insights (Revenue, US$ Mn, 2020 - 2032)
  • Buildings
  • Transportation
  • Industrial Facilities
  • Others
• Regional Insights (Revenue, US$ Mn, 2020 - 2032)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • France
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • South Africa
    • Rest of Middle East & Africa
• Key Players Insights
  • Acrow
  • Acrowmisr
  • Alsina
  • BEIS
  • Condor
  • Doka GmbH
  • Hankon
  • Intek
  • MEVA
  • NOE
  • PASCHAL
  • PERI
  • Pilosio
  • RMD Kwikform
  • Urtim

Sources

Primary Research Interviews from the following Stakeholders:

• Construction Companies and Contractors (e.g., Project Managers, Site Supervisors)
• Formwork Manufacturers and Suppliers (e.g., Doka, Peri, ULMA, etc.)
• Architects and Structural Engineers involved in large-scale infrastructure projects
• Real Estate Developers and Building Construction Companies
• Equipment Leasing Firms specializing in formwork solutions
• Sustainability Experts and Green Building Consultants (if focusing on eco-friendly formwork systems)

Databases:

• Eurostat
• U.S. Census
• Construction Global
• OECD

Magazines:

• Construction Today
• Concrete Construction Magazine:
• Building Design + Construction (BD+C):
• Formwork Construction Magazine

Journals:

• Journal of Construction Engineering and Management
• Construction and Building Materials Journal:
• Automation in Construction Journal:
• Journal of Building Engineering:

Newspapers:

• The Construction Index:
• Construction Week Online:
• The Guardian (UK):
• The Economic Times (India)

Associations:

• International Concrete Repair Institute (ICRI)
• The Concrete Society (UK)
• National Association of Home Builders (NAHB)
• The Formwork Association (UK)
• American Concrete Institute (ACI)

Public Domain Sources:

• U.S. Census Bureau
• EUROSTAT
• United Nations Economic Commission for Europe (UNECE)
• World Bank
• ResearchGate

Proprietary Elements:

• CMI Data Analytics Tool, Proprietary CMI Existing Repository of information for last 8 years

*Definition: Global Formwork System Market involves temporary or reusable molds and structures used to support wet concrete and guide its shape until it is strong enough to support itself. Major components of formwork systems include panel forms, shores, anchoring and tie systems. The global formwork system market has witnessed growth in developing regions due to increased construction spending on projects like buildings, bridges, tunnels and infrastructure developments. Formwork systems offer significant advantages over conventional formwork by enhancing productivity, worker safety and ease-of-use.