Construction project teams are increasingly assessing concrete formwork systems against structural requirements, installation schedules and whole-life costs, as industry estimates place the global formwork market at $8.9 billion in 2026.
According to figures attributed to Verified Market Research, the concrete formwork market reached $8.9 billion this year, while Cognitive Market Research estimates that steel systems accounted for 44% of global installations, followed by timber at 37% and aluminium at 19%.
The figures highlight the continued importance of different formwork materials across residential, commercial and heavy civil engineering projects.
For contractors, equipment selection can influence construction sequencing, crane utilisation, labour requirements and the speed at which concrete structures can be completed.
Formwork selection increasingly linked to construction schedules
Formwork systems provide temporary structures that support concrete during placement and curing, making their design and performance important considerations in construction planning.
The appropriate system depends on several factors, including the structural element being constructed, permissible concrete pressure, available lifting equipment and the required construction cycle.
Aluminium systems are commonly used for repetitive floor construction, particularly in high-rise residential and commercial developments.
Their relatively lightweight construction can simplify handling and support repeated installation and removal across successive floors.
Intel Market Research estimates that aluminium formwork systems can support floor construction cycles of four to five days under suitable project conditions.
The same research projects the aluminium formwork market to reach $2.48 billion by 2032, representing compound annual growth of 9.9%.
Steel formwork, meanwhile, remains widely used for vertical structures and applications requiring higher resistance to concrete pressure.
These include retaining walls, columns, underground structures and heavy civil engineering works.
Manufacturer highlights different requirements for slab and wall construction
Chinese formwork manufacturer Rizhao Fenghua Scaffoldings Co., Ltd. (RFH) has outlined how equipment specifications vary between horizontal and vertical concrete construction.
The company’s FW00D aluminium deck system uses aluminium alloy frames combined with plywood panels and is designed for repetitive slab construction.
According to RFH, the system can accommodate flat and inclined slabs, with panel configurations intended to simplify assembly and removal.
For vertical construction, the manufacturer offers several steel formwork systems with different pressure ratings.
Its FW00A heavy-duty wall formwork is designed for concrete pressures of up to 80 kN/m², while its lighter FW00B system is rated to 60 kN/m².
These differences affect the suitability of equipment for particular wall heights, concrete placement methods and structural requirements.
RFH also supplies a range of panel dimensions and accessories intended to support different construction configurations.
The manufacturer states that its systems can be adapted to project-specific requirements, including panel sizes and equipment arrangements.
Project teams must consider more than initial equipment costs
Formwork procurement decisions can have consequences beyond the initial purchase or rental price.
Industry estimates cited in the market assessment place aluminium formwork prices at approximately $40–75 per square metre, compared with $25–60 for steel systems used on larger projects.
However, direct price comparisons do not account for differences in equipment reuse, labour requirements, crane availability or construction cycle times.
A system requiring fewer installation activities may offer programme advantages even where its initial cost is higher.
Conversely, equipment that requires additional reinforcement, handling or modification could increase construction costs and create scheduling pressures.
The compatibility of formwork accessories is another consideration, particularly for contractors working with existing equipment inventories.
Project engineers must also verify that selected systems satisfy applicable structural requirements and site-specific conditions.
Standards governing temporary works, concrete strength assessment and formwork removal remain important to ensuring that construction activities can proceed safely.
RFH reports international project delivery experience
Established in 1953, RFH operates an 80,000-square-metre manufacturing site in Rizhao, Shandong Province, including approximately 40,000 square metres of factory facilities.
The company reports employing 260 people and operating production facilities covering welding, steel forming, casting and surface treatment.
Its product portfolio includes aluminium and steel formwork systems, column formwork and adjustable shoring equipment.
RFH states that it exports products to 126 countries and regions, including markets in Europe, North America, Australia and South America.
The manufacturer also reports supplying formwork equipment for residential and infrastructure projects in Australia and Singapore.
In one reported application, RFH attributed completion of the structural concrete phase 20 days ahead of schedule to reduced crane and labour requirements.
The company has not provided sufficient independent project data to establish whether comparable savings would be achievable across other construction programmes.
Formwork planning remains important to project delivery
As construction programmes face pressure to improve productivity and manage costs, formwork selection remains an important element of temporary works planning.
Steel, aluminium and timber systems offer different characteristics in terms of weight, structural capacity, handling requirements and potential reuse.
For project managers and construction engineers, early coordination between structural design, procurement and site operations can help ensure that equipment specifications align with planned construction methods.
The market figures suggest that demand will continue across multiple formwork categories rather than shifting towards a single material.
Ultimately, the suitability of each system will depend on its ability to meet the project’s technical requirements while supporting safe, efficient and predictable construction delivery.
