Rockville, MD, Feb. 05, 2025 (GLOBE NEWSWIRE) — The global formwork plywood market was valued at US$ 6,377.3 million in 2024 and is anticipated to grow at a significant CAGR of 2.1% to reach US$ 7,850.5 million by 2034.
Key development by the government in infrastructure development, with private investment in residential and commercial construction projects being significant contributors to growth. Further emphasizing the importance of this market is the need for effective and reliable formwork solutions to speed up construction schedules. Formwork plywood continues to be called for in the face of ongoing urban land and population growth that will require continuous demand for more housing and commercial developments.
Innovations in plywood technology include the latest manufacturing techniques such high-performance adhesive and sustainable materials to produce plywood with very high strength and endurance. These innovations will not only greatly improve the efficiency of formwork systems, but they will also correspond well to the newly increasing trend for sustainable construction practices. As these would further enhance the offerings for contracting and building materials, the market is likely to see a rise in demand for quality-eco formwork plywood. These changes will help a plywood manufacturer to process the customer’s changing needs in the construction sector.
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Key Takeaways from Market Study
- The global formwork plywood market is estimated to reach US$ 7,850.5 million by 2034
- The market created an absolute $ opportunity of US$ 1,473.2 million growing at a CAGR of 1% between 2024 to 2034
- North America is a prominent region that is estimated to hold a market share of 6% in 2034
- Predominating market players include Altrad Group, BrandSafway, Cemex, Doka GmbH and PERI Group.
- Commercial type of end use segment is estimated to grow at a CAGR of 6% creating an absolute $ opportunity of US$ 802.1 million between 2024 and 2034
- North America and East Asia are expected to create an absolute $ opportunity of US$ 721.3 million
“Innovations in manufacturing enhance the quality and sustainability of formwork plywood” says a Fact.MR analyst.
Leading Players Driving Innovation in the Formwork Plywood Market:
Altrad Group; Aluma Systems; BrandSafway; Cemex; Doka GmbH; EFCO Corporation; Hünnebeck; KHK Scaffolding; PERI Group; Sakshi Chem Sciences Pvt. Ltd.; Other Market Players.
Market Development
While keeping participation in recent innovations, the players in this sector also keep investing in last-generation sustainable and strategic partnerships to improve their competitiveness. Investments in new production technologies are taken up mainly for improving the quality of the products and, in some instances, reducing the environmental impact. Such companies also have the option to tailor-fit solutions for particular projects by working with builders and architects.
Many manufacturers focus on finding sustainable methods and materials to be competitive in their business. With the competition getting tougher, companies are searching for new markets and expansion channels to reach potential customers with a wider distribution. It is a holistic strategy to adjust from rapid shifts in market trends and consumer preferences.
- Cemex – In August 2022, Cemex unveiled an initiative to incorporate recycled materials into its formwork plywood products, aiming to reduce carbon footprints and align with sustainability goals in the construction sector.
- KHK Scaffolding – In April 2022, KHK Scaffolding launched a new line of lightweight, high-strength formwork products designed for quick assembly and disassembly, targeting the rapidly growing construction market in the Middle East.
Formwork Plywood Industry News:
- Aluma Systems – In March 2023, Aluma Systems launched a new line of eco-friendly formwork solutions aimed at reducing waste and improving sustainability in construction projects, reflecting industry trends toward greener practices.
- Doka GmbH – In January 2023, Doka GmbH launched its latest generation of formwork systems with improved load-bearing capacities and enhanced safety features, responding to growing demands for efficiency and safety in construction.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global formwork plywood market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the Material Type (Standard Plywood, Marine Plywood, Film-Faced Plywood), Application (Slabs, Walls, Columns), End Use (Commercial, Residential, Industrial), Size (Standard Sizes, Custom Sizes), Technology (Traditional Formwork, Modular Formwork) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
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The global formwork plywood market was valued at US$ 6,377.3 million in 2024 and is anticipated to grow at a significant CAGR of 2.1% to reach US$ 7,850.5 million by 2034.
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