The global formwork market was valued at approximately USD 11.0 billion in 2024, reflecting strong demand across residential, commercial, and infrastructure projects worldwide. North America and Western Europe dominate the formwork market with premium pricing for advanced formwork technologies, strict safety regulations, and high-efficiency OEM systems, while Asia-Pacific and Latin America focus on cost-effective solutions such as plywood, timber, and aluminum formwork, driven by large-scale infrastructure and real estate developments. Regional trends highlight urbanization, industrial expansion, and government-backed smart city initiatives as key growth drivers. The Middle East and Africa are also witnessing incremental adoption of modern formwork solutions due to mega-projects in urban infrastructure. Global exports of formwork materials under HS codes 4410–7616 exceeded USD 5.4 billion in 2023, underscoring robust cross-border trade in construction equipment and components.
Formwork overview
Published by MMR Statistics Research Team, Updated