Top 25 Companies in Formwork Market: Spherical Insights Analysis (2024-2035)
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Formwork Market Size is projected To Grow from USD 6000 Million in 2024 to USD 7890 Million by 2035, at a CAGR of 2.52% during the forecast period 2025–2035. The market for Formwork is growing demand due to several key factors, including rising urbanization, increasing construction activities, and technological advancements in formwork systems.
Introduction
The formwork is a temporary or permanent mold with which concrete and other ingredients are kept. The building business in South Africa is booming. The number of buildings is a sign of a highly developed city. The increase in the construction industry is seen with an increase in the number of housing units. Thus, an extended real estate market is brought to South Africa. Formwork is an integral part of concrete construction that acts like a skeleton or scaffold and then supports fresh concrete until it reaches strength and does not stand alone. The type of formwork can affect a construction project as it determines efficiency, cost and quality. Many different types are found in the construction industry, designed to meet each specific objectives and needs.
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Formwork Market Size & Statistics
- The Market Size for Formwork Was estimated to be worth USD 6000 Million in 2024.
- The Market is going to Expand at a CAGR of 2.52% between 2025 and 2035.
- The Global Formwork Market Size is anticipated to reach USD 7890 Million by 2035.
- The Market Size is Growing at a CAGR of 4.22% from 2023 to 2033.
- The South Africa Formwork Market Size is Expected to Reach USD 392.3 Million by 2033.
- North America is expected to generate the highest demand during the forecast period in the Formwork Market
- Asia Pacific is expected to grow the fastest during the forecast period in the Formwork Market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the Formwork market.
North America is fast-growing market for Formworks, driven by the presence of major technology companies, high consumer purchasing power, and strong demand for innovative electronic devices. The region is home to leading smartphone manufacturers such as Apple and Google, which are increasingly incorporating Formwork technology into their flagship devices. Moreover, the growing adoption of wearables, foldable smartphones, and automotive displays further boosts the demand for Formworks in North America.
North America is expected to generate the highest demand during the forecast period in the Formwork market.
Countries such as China, India and Southeast Asian countries look at widespread construction activities inspired by urban expansion, industrialization and government initiative. In addition, increasing disposable income, increase in urban migration, and a medieval middle class stimulates demand for residential and commercial buildings, enhancing the formwork sales. In addition, technological progresses, such as prefabricated and modular formwork solutions, meet the dynamic construction landscape of the field; promote driving adoption and market growth.
Top 10 Trends in the Formwork Market
- Modular and Reusable Formwork
- Sustainable Materials
- Technology Integration
- Plastic Formwork
- Aluminum Formwork
- Enhanced Safety
- Increasing Material Costs
- Robotics and Automation
- Artificial Intelligence
- Eco-Friendly Practices
1. Modular and Reusable Formwork
The industry is moving towards systems that can be easily assembled, disassembled, and transported, leading to faster construction times and reduced on-site labor. Materials like aluminum, plastic, and steel are popular for these systems due to their durability and reusability.
2. Sustainable Materials
There's a growing demand for eco-friendly formwork options, including recycled plastics, composite materials, and low-carbon alternatives. This aligns with the increasing focus on green building practices and reducing the environmental impact of construction.
3. Technology Integration
Digital tools like BIM (Building Information Modeling) are becoming more prevalent in formwork design and planning. Automation and robotics are also being introduced to streamline processes and improve accuracy.
4. Plastic Formwork
Plastic formwork is gaining popularity due to its lightweight nature, ease of use, and reusability, particularly for smaller to medium-sized projects,
5. Aluminum Formwork
Aluminum formwork, like the Mivan system, is also favored for its speed and consistency in construction, especially in large-scale projects like mass housing.
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Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the Formwork market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 10 Companies Leading the Formwork Market
- Doka
- PERI
- ULMA
- MEVA
- EFCO
- Brand Industrial Services, Inc
- MFE Formwork Technology Sdn Bhd
- RMD Kwikform
- PASCHAL
- Acrow
- Others
1. Doka
Headquarters: Austria
Doka is a major global player in the construction formwork market, recognized for its engineered systems and innovative solutions. They offer a wide range of formwork and scaffolding solutions for various construction projects, from building foundations to high-rise structures. Doka emphasizes efficiency, safety, and sustainability in their products and services, including digital solutions and a focus on recycled materials.
2. PERI
Headquarters: Germany
PERI is a major player in the global formwork market, recognized as one of the leading manufacturers and suppliers of formwork and scaffolding systems. They offer a wide range of formwork solutions, including systems for walls, columns, slabs, and even free-form and universal applications. PERI's focus is on providing innovative and cost-effective solutions that enhance speed, safety, and efficiency in construction projects.
3. ULMA
Headquarters: Spain
ULMA is a global leader in formwork and scaffolding systems, offering solutions for various construction projects. They are known for their innovative and efficient systems, including the ONADEK modular slab formwork and LGW light wall formwork, which are designed to improve safety, reduce assembly and dismantling times, and enhance overall project efficiency. ULMA operates in the Indian market, providing products and services to the construction industry, including technical design assistance, sales, and rental options.
4. MEVA
Headquarters: Germany
MEVA is a global innovator and leading supplier in the formwork market, known for its durable and adaptable concrete solutions. The company has been a major force in the industry since 1970, developing many industry standards such as the clamp and the closed hollow frame profile. MEVA offers a wide range of formwork systems, including wall, slab, and shoring solutions, along with special formwork and customized solutions to meet specific project needs. They are recognized for their focus on efficiency, cost-effectiveness, and providing comprehensive service packages that include design, planning, and technical support.
Are you ready to discover more about the Formwork market?
The report provides an in-depth analysis of the leading companies operating in the global Formwork market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Doka
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- PERI
- ULMA
- MEVA
- EFCO
- Brand Industrial Services, Inc
- MFE Formwork Technology Sdn Bhd
- RMD Kwikform
- PASCHAL
- Acrow
- Others
Conclusion
Formwork market is an important component of the global construction industry, which is experiencing significant growth especially in regions such as South Africa. As a temporary skeleton for solid structures, the role of formwork is integral to the quality, efficiency and cost of a project. The market is developing with the integration of major trends such as adopting modular and reusable systems, using durable materials and new techniques such as robotics and artificial intelligence. While Asia Pacific is ready to expand rapidly due to comprehensive construction and urbanization, North America is expected to increase the highest demand. It is shaped by dynamic landscape major companies that are innovating with advanced materials and digital devices to meet the demands of a modern and rapid complex construction environment.
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