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TechSci Research projects the global Mivan construction market will reach USD 7.05 billion by 2031. That is a forecast—not a measured future result—and published estimates differ substantially: Markets and Data projects USD 4.36 billion for the same year. The public summaries do not provide enough comparable methodology to reconcile the gap.
What the $7.05 billion forecast measures
TechSci Research describes Mivan construction as a system that uses high-strength aluminum formwork panels to cast walls and slabs together in a continuous monolithic concrete pour. Its report divides the market by construction type (new construction and renovation), application (residential, commercial and industrial), formwork (single-use and reusable), component (wall, beam, deck and other components), and region (North America, Europe, Asia Pacific, South America, and the Middle East and Africa). The public summary does not specify the exact rules used to count market revenue. TechSci Research’s May 2026 report page
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TechSci’s figures and how to read them
In its May 2026 report, TechSci Research estimates the market at USD 3.92 billion in 2025 and forecasts USD 7.05 billion in 2031, with a stated compound annual growth rate (CAGR) of 10.28% over that forecast period. These are the publisher’s estimates and projection, not official statistical measurements or independently verified market revenue. TechSci Research’s May 2026 report page
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TechSci’s September 2025 press release summarized an earlier forecast: USD 3.71 billion in 2024, rising to a projected USD 6.71 billion in 2030 at a stated 10.22% CAGR. Because that forecast uses a different base year and endpoint, it should not be treated as a direct update to the 2026 figures. TechSci Research’s September 2025 release
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Why published forecasts disagree
Markets and Data estimated the market at USD 2.39 billion in 2023 and projected USD 4.36 billion by 2031, with a stated 7.80% CAGR. That endpoint is substantially below TechSci’s USD 7.05 billion projection for 2031. Markets and Data’s October 2024 report page
| Publisher and publication | Base-year estimate | Forecast endpoint | Stated CAGR |
|---|---|---|---|
| TechSci Research, May 2026 | USD 3.92 billion in 2025 | USD 7.05 billion in 2031 | 10.28% for the forecast period |
| TechSci Research, September 2025 release | USD 3.71 billion in 2024 | USD 6.71 billion in 2030 | 10.22% for the forecast period |
| Markets and Data, October 2024 | USD 2.39 billion in 2023 | USD 4.36 billion in 2031 | 7.80% for the forecast period |
The summaries provide publisher, publication date, base year, endpoint and stated CAGR, but not enough shared detail about market definitions, assumptions or forecast methods to make a like-for-like comparison. They also do not disclose confidence intervals. The estimates should not be averaged or presented as a settled industry consensus.
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What the forecast says about adoption drivers and constraints
TechSci identifies rapid mass-housing and affordable residential development as growth drivers, and shorter construction timelines as a potential benefit of the formwork system. It also lists high initial expenditure and the need for specialized labor as adoption constraints. The public synopsis does not quantify these effects with project-level evidence, so they should be read as the report’s analysis rather than universal outcomes for every project. TechSci Research’s May 2026 report page TechSci Research’s September 2025 release
What the public figures cannot establish
The available summaries do not show the underlying forecast model or data, detailed regional market shares, company shares, uncertainty ranges, or comparative project costs and schedules. They therefore cannot establish which regions or companies will capture the projected growth, or how much time or money a particular project would save using aluminum formwork. Assessing a project requires its own design, labor, procurement and construction assumptions.
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