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The word 'fivefold' is correct and usable in written English.
You can use it to describe a quantity that is five times the original amount. For example, "The demand for our product increased fivefold after the launch of our new marketing campaign."
Exact(60)
Your income will probably rise fivefold or more.
Since my first visit to Peru in 2003, the amount of land that has been covered by oil and gas concessions has increased fivefold – almost 50% of the entire Peruvian-owned Amazon.
With a fivefold increase in the number of tourists to the city since 1990, only 20% of walkers on its main street are locals, new hotels abound and many landlords are cashing in by illegally letting out apartments to tourists.
While train operator profits have fallen in real terms from £270m in 1997-98 to £250m in 2012-13, representing a 3% margin, over the same period money paid by operators to government to reinvest in services has increased fivefold from £390m to £1.96bn.
The Ukrainian authorities, says the IMF, "have decided to implement front-loaded gas and heating-price adjustments aiming to reach full cost recovery by April 2017 .So, if we go off 2013's figures, we can estimate that domestic gas prices will increase fivefold in four years.
But surging smartphone use and a broadening middle class mean the market is set to multiply; perhaps fivefold by 2018, reckons Frost & Sullivan, a consulting firm.
In a study in Geophysical Research Letters, David Karoly of the University of Melbourne argues that it is possible to say with considerable confidence that human influence increased the risk of such high temperatures fivefold, at least.
Imports of luxury cars increased fivefold between 2011 and 2013, whereas sales of modest Iranian-made cars halved.The misallocation of funds on a gargantuan scale has hurt the private sector.
Servier, France's largest private drug firm, now earns 70% of its revenue abroad; Fournier, based in Dijon, has boosted its foreign sales fivefold since 1991.
According to one congressman, staffing at the National Geology and Mining Service, the industry regulator, has not increased much since it was founded in 1980, despite a fivefold increase in the output of copper in that period.
By 2017 nearly 30% of households are expected to have a television set, an almost fivefold increase over ten years.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com