Global formwork plywood market expected to reach $9.32 billion by 2031, driven by infrastructure projects

From GlobeNewswire: 2025-04-07 10:04:00

The global formwork systems market is experiencing healthy growth with infrastructure development projects driving construction activities. Market trends show a focus on advanced building materials for economic scaffolding solutions that improve worker safety and building quality. The market is expected to reach $9.32 billion by 2031 with a CAGR of 5.9%.

Infrastructure projects worldwide are fueling the demand for formwork systems, with rental services becoming a cost-effective solution for construction companies. Advanced technologies like wireless temperature monitoring, fiberglass shuttering, and tunnel formwork are expected to drive market growth. APAC leads the market, supported by urbanization and growing construction activity.

Key players in the formwork systems market include Alsina Formwork, Doka GmbH, and PERI. Recent developments include partnerships between companies like PASCHAL and LM Byg A/S for large-scale projects. The market is expected to see further growth as infrastructure projects continue to rise, driving the demand for innovative formwork solutions.

Factors such as government support for construction projects and the rise of green buildings are driving demand for formwork solutions. Timber and plywood remain popular materials due to their affordability and versatility. Technological advancements like tunnel formwork and fiberglass shuttering are expected to create growth opportunities in the formwork industry.



Read more at GlobeNewswire: Formwork Plywood Market Size is Expected to Grow at 5.9%