Aluminum Formwork Market To Reach US$8,181.93 Million By 2031 at CAGR of 5.6% | The Insight Partners

NEW YORK, Sept. 29, 2025 /PRNewswire/ -- According to a new comprehensive report from The Insight Partners, the global aluminum formwork market is growing significantly, owing to the rising demand for automatic filter systems across different regions.

The aluminum formwork market forecast analyzes market trends, key players, and future opportunities. The rising demand for aluminum formwork, surging product development by manufacturers, and increasing stringent government regulations toward adopting aluminum formwork drives the growth of the aluminum formwork market.

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Overview of Report Findings

1. Market Growth: Technological advancements and the demand for efficient, cost-effective solutions have driven the adoption of modern formwork systems in construction. In formwork, plywood or timbers create a mold with on-site preparation for customized requirements, a low-cost yet time-consuming solution for installation and assembling. Whereas, the formwork system uses metal or a combination of metal and wood to form a frame that saves time for assembling and reduces the complications.
   
   The system quickly assembles and eliminates or limits the need for cutting material on-site. Formwork system offers enhanced safety in construction sites and provides a less complicated solution for workers. The surfaces are constructed with frames for easy installation and joining, lowering life-cycle costs. The formwork system offers maximum reusability with proper maintenance and care.
   
   Thus, the demand for formwork systems is rising in developing and developed nations. Furthermore, the integration of software into construction operations supports the growth of the aluminum formwork market by streamlining the design, assembly, and installation processes.
   
   
2. Urbanization and the Rising Demand for Residential Construction: The rapid growth of urban areas is driving the global aluminum formwork market size. The United Nations projects that ~68% of the world's population is expected to live in cities by 2050. This shift creates a strong demand for housing and infrastructure solutions.
   
   Governments are launching initiatives aimed at affordable housing and smart city development to meet social and economic needs.
   
   Regions such as Asia Pacific and Africa are seeing significant population growth and are increasing high-rise residential projects, modular housing, and large-scale infrastructure developments. Aluminum formwork systems are gaining popularity in these areas as they are easy to use and install, and ensure structural consistency in repetitive construction tasks. These systems are used in residential, commercial, and landmark projects.
   
   
3. Growing Investments in the Retail Sector: Major investments are shaping retail space development. This shift is having a big impact on the construction industry and the use of aluminum formwork systems. In 2025, global retail real estate investments are on the rise, with a focus on mixed-use developments, luxury shopping malls, and suburban retail centers across North America, Europe, the Middle East, and Asia Pacific. Nuveen Real Estate manages a diverse portfolio of retail and mixed-use assets throughout the US, Europe, Asia Pacific, and South America. It invests in retail spaces, shopping centers, warehouses, and outlet malls.
   
   Brigade Gateway in India is developing a project combining retail, residential, and hospitality areas. In the UK, institutional funds such as the Universities Superannuation Scheme have recently invested over US$ 300 million in retail and mixed-use projects. North American companies are leading the way in expanding in major urban and tourist areas. Investments in the retail sector are boosted by economic growth, low interest rates, and changing consumer habits that emphasize experience-driven shopping. Developers are looking for high-traffic, prime locations and green building standards to attract global brands, meet evolving consumer needs, and secure long-term success for their projects.
   
   
4. Geographical Insights: In 2024, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period. In Asia Pacific, the construction sector is growing, which is driving up the demand for aluminum formwork. In 2024, the Philippines' NLEX Corporation announced three new infrastructure projects. Indonesia revealed its biggest infrastructure budget, reaching US$26.48 billion to support residential, commercial, and road development. Around 155 airport and airport infrastructure projects are in progress in APAC, with total investments of US$209 billion. Noteworthy projects include the Long Thanh International Airport in Vietnam, which has a US$14.5 billion investment and is expected to be finished by the end of 2025. The US$10 billion expansion of Terminal 5 at Singapore's Changi Airport is scheduled for completion by 2030. These major projects demonstrate the government's commitment to infrastructure development, driving increased demand for high-quality formwork solutions.

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Market Segmentation

• Based on offering, the aluminum formwork market is bifurcated into solution and services. The solution segment held a larger market share in 2024.
• By operation, the market is segmented into slab formwork, wall formwork, corner formwork, beam formwork, and others. The slab formwork segment held the largest aluminum formwork market share in 2024.
• In terms of application, the aluminum formwork market is classified into industrial, commercial, and residential. The residential segment held the largest share of the market in 2024.

Competitive Strategy and Development

• Key Players: A few of the major companies operating in the aluminum formwork market are Cosmos Construction Machineries and Equipments Pvt Ltd; IHITA FORMWORKS; Knest Manufacturers LLP; Technokraft industries (India) private Ltd.; MFE Formwork Technology Sdn Bhd; EFCO Corp; MEVA Schalungs-Systeme GmbH; PERI GmbH; Doka GmbH; PASCHAL-Werk G. and Maier GmbH, among others.
• Trending Topics: Formwork and Scaffolding Market, Working Platform Market

Global Headlines on Aluminum Formwork Market

• Knest Manufacturers Pvt. Ltd signed a Memorandum of Understanding (MOU) with ABR Jeddah Contracting Co. from Saudi Arabia.
• Doka GmbH announced the acquisition of Malaysia-based MFE Formwork Technology
• PERI GmbH launched new generation of MAXIMO Panel Formwork

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Conclusion

Aluminum formwork systems are widely used by construction firms, developers, and contractors involved in building residential, commercial, industrial, and infrastructure projects, including bridges, airports, and metro systems. The growing demand is driven by urban expansion, increased infrastructure investment, and a shift toward sustainable building practices. The systems' durability, reusability, and compatibility with green construction standards make them preferred for projects requiring speed, precision, and long-term performance.

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