Formwork Plywood Global Market Report 2026

Formwork plywood is a high-strength, moisture-resistant plywood designed specifically for concrete formwork applications. It is generally manufactured from hardwood veneers and coated with a phenolic film to endure the pressure of wet concrete and allow for multiple reuses. Its primary function is to provide a smooth, durable mold surface for shaping and supporting poured concrete until it hardens.

The main categories of formwork plywood include film-faced plywood, veneer plywood, plastic-coated plywood, and others. Film-faced plywood is a specialized plywood coated with a resin-impregnated film, typically phenolic or melamine, offering enhanced durability and a smooth finish. Applications include residential, commercial, industrial, and infrastructure construction, serving end-users such as construction firms, contractors, and related stakeholders.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the formwork plywood market by increasing costs of imported hardwood veneers, phenolic films, resins, and surface coatings used in film-faced and plastic-coated plywood. Construction projects in North America and Europe are most affected due to reliance on imported plywood panels, while Asia-Pacific faces cost pressure on plywood exports. These tariffs are increasing material procurement costs and affecting construction timelines. However, they are also encouraging domestic plywood manufacturing, local veneer sourcing, and regional production of reusable formwork panels.

The formwork plywood market research report is one of a series of new reports from The Business Research Company that provides formwork plywood market statistics, including formwork plywood industry global market size, regional shares, competitors with a formwork plywood market share, detailed formwork plywood market segments, market trends and opportunities, and any further data you may need to thrive in the formwork plywood industry. This formwork plywood market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The formwork plywood market size has grown steadily in recent years. It will grow from $7.85 billion in 2025 to $8.14 billion in 2026 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to expansion of urban construction activities, growth in infrastructure development projects, increasing adoption of concrete construction methods, availability of hardwood plywood materials, rising demand for cost-effective formwork solutions.

The formwork plywood market size is expected to see steady growth in the next few years. It will grow to $9.31 billion in 2030 at a compound annual growth rate (CAGR) of 3.4%. The growth in the forecast period can be attributed to increasing investments in infrastructure modernization, rising focus on reusable construction materials, expansion of high-rise and commercial construction, growing preference for high-durability formwork systems, increasing adoption of sustainable building practices. Major trends in the forecast period include increasing use of reusable high-cycle formwork panels, rising demand for film-faced plywood in infrastructure projects, growing preference for moisture-resistant concrete forming solutions, expansion of large-scale construction applications, enhanced focus on surface finish quality.

The rising number of construction activities is anticipated to drive the growth of the formwork plywood market in the coming years. These construction activities involve building, repairing, or modifying structures such as buildings, roads, bridges, and other infrastructure. The surge in such activities is attributed to urbanization, as the growing population in cities increases the need for residential, commercial, and infrastructure development. Formwork plywood plays a crucial role in these projects by serving as a durable and reusable mold for shaping concrete structures, ensuring precision and structural integrity. It improves project efficiency by enabling quicker assembly and disassembly, making it a vital component in contemporary construction methods. For example, in April 2025, the United States Census Bureau reported that construction spending reached $2,156,495 million in 2024, up from $2,023,662 million in 2023. Thus, the growth in construction activity is contributing to the expansion of the formwork plywood market.

The rise in infrastructure investments is also expected to drive the growth of the formwork plywood market. Infrastructure investments refer to the allocation of funds towards the development and maintenance of essential systems, including roads, bridges, energy, water, and communication networks that support economic and societal advancement. The increase in such investments is driven by urbanization and population growth, which place greater pressure on existing infrastructure and necessitate new development and upgrades. These investments lead to heightened demand for formwork plywood through the acceleration of major construction projects such as bridges, roads, and tunnels. Formwork plywood facilitates these initiatives by providing durable, reusable molds for concrete structures, ensuring accuracy, resilience, and streamlined project execution. For instance, in July 2024, the Office for National Statistics reported that the UK government's total investment in infrastructure reached $17.25 billion (£13.8 billion) in 2023, representing a 3.9% increase from 2022. Consequently, growing infrastructure investment is fueling the formwork plywood market.

Leading companies in the formwork plywood market are increasingly adopting advanced manufacturing technologies such as computer numerical control (CNC) machinery to boost precision, efficiency, and product quality. CNC machinery refers to automated tools controlled by programmed software that enable high-accuracy cutting, shaping, and finishing of formwork plywood. For example, in December 2024, PERI Ltd., a UK-based formwork and scaffolding solutions provider, invested $335,153 (£250,000) in state-of-the-art CNC machinery to improve customer service and enhance operational performance. This technological upgrade helps the company streamline production, minimize material waste, and deliver consistently high-quality formwork plywood. Additionally, the machinery shortens production timelines, addressing the growing demand for reliable and durable formwork solutions within the construction sector. The upgraded CNC system enables the fabrication of complex components such as cleat boxes and replacement panels using robust birch plywood, commonly used in wall and slab formwork.

Major companies operating in the formwork plywood market are PERI SE, Doka GmbH, ULMA Construction, SVEZA Co., UPM Plywood, Metsa Wood, Greenply Industries Ltd., Century Plyboards India Ltd., Shandong Xingang Group Co. Ltd., Jiangsu Jinhai Plywood Co. Ltd., Jiangsu Hanbao Group Co. Ltd., Vinawood Co. Ltd., Koskisen Oyj, Segezha Group LLC, Weyerhaeuser Company, UFP Industries Inc., Tulsa SA, ROC International Co. Limited, Adto Group Co. Limited, Metsa Fibre

North America was the largest region in the formwork plywood market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the formwork plywood market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the formwork plywood market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The formwork plywood market consists of sales of waterproof shuttering plywood, formliner plywood panels, phenolic film-faced plywood, and edge-sealed plywood panels. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Formwork Plywood Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses formwork plywood market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for formwork plywood ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The formwork plywood market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Film Faced Plywood; Veneer Plywood; Plastic Coated Plywood; Other Types
• 2) By Application: Residential Construction; Commercial Construction; Industrial Construction; Infrastructure; Other Applications
• 3) By End-User: Construction Companies; Contractors; Other End-Users
• Subsegments:
• 1) By Film Faced Plywood: Hardwood Film Faced Plywood; Poplar Film Faced Plywood; Birch Film Faced Plywood; Marine Grade Film Faced Plywood
• 2) By Veneer Plywood: Hardwood Veneer Plywood; Softwood Veneer Plywood; Decorative Veneer Plywood; Structural Veneer Plywood
• 3) By Plastic Coated Plywood: Polypropylene Coated Plywood; Polyvinyl Chloride (PVC) Coated Plywood; High-Density Polyethylene (HDPE) Coated Plywood; Reusable Plastic Coated Plywood
• 4) By Other Types: High Pressure Laminate (HPL) Plywood; Composite Plywood Panels
• Companies Mentioned: PERI SE; Doka GmbH; ULMA Construction; SVEZA Co.; UPM Plywood; Metsa Wood; Greenply Industries Ltd.; Century Plyboards India Ltd.; Shandong Xingang Group Co. Ltd.; Jiangsu Jinhai Plywood Co. Ltd.; Jiangsu Hanbao Group Co. Ltd.; Vinawood Co. Ltd.; Koskisen Oyj; Segezha Group LLC; Weyerhaeuser Company; UFP Industries Inc.; Tulsa SA; ROC International Co. Limited; Adto Group Co. Limited; Metsa Fibre
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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