ASEAN: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in ASEAN

In 2021, after four years of growth, there was decline in the ASEAN liquid fuel furnace burner market, when its value decreased by -4.3% to $X. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020, and then fell slightly in the following year.

Production of Furnace Burners For Liquid Fuel in ASEAN

In value terms, liquid fuel furnace burner production reduced notably to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 59% against the previous year. The level of production peaked at $X in 2020, and then reduced rapidly in the following year.

Exports of Furnace Burners For Liquid Fuel

Exports in ASEAN

In 2021, shipments abroad of furnace burners for liquid fuel decreased by -46.2% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 1,186%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, liquid fuel furnace burner exports declined dramatically to $X in 2021. Overall, exports faced a abrupt setback. The pace of growth was the most pronounced in 2017 with an increase of 319% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) and Indonesia (X tons) represented roughly 71% of total exports in 2021. It was distantly followed by Malaysia (X tons), achieving a 22% share of total exports. The following exporters - Vietnam (X kg) and Thailand (X kg) - together made up 5.8% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +1.6%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Singapore ($X) emerged as the largest liquid fuel furnace burner supplier in ASEAN, comprising 46% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 23% share of total exports. It was followed by Indonesia, with a 21% share.

From 2012 to 2021, the average annual growth rate of value in Singapore stood at -9.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-7.5% per year) and Indonesia (+0.3% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, shrinking by -21.4% against the previous year. Over the period under review, the export price continues to indicate a slight slump. The pace of growth appeared the most rapid in 2019 an increase of 234%. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then declined remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+10.0%), while the other leaders experienced more modest paces of growth.

Imports of Furnace Burners For Liquid Fuel

Imports in ASEAN

In 2021, the amount of furnace burners for liquid fuel imported in ASEAN surged to X tons, increasing by 127% compared with the previous year's figure. Over the period under review, imports saw a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 203% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, liquid fuel furnace burner imports soared to $X in 2021. Overall, imports, however, continue to indicate a pronounced setback. The growth pace was the most rapid in 2013 with an increase of 64% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Malaysia was the major importer of furnace burners for liquid fuel in ASEAN, with the volume of imports amounting to X tons, which was approx. 55% of total imports in 2021. Indonesia (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together took near 36% share of total imports. The following importers - Thailand (X tons) and the Philippines (X tons) - each amounted to a 6.1% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +17.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest liquid fuel furnace burner importing markets in ASEAN were Malaysia ($X), Thailand ($X) and Vietnam ($X), with a combined 71% share of total imports. These countries were followed by Indonesia and the Philippines, which together accounted for a further 22%.

In terms of the main importing countries, the Philippines, with a CAGR of +18.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, waning by -45.7% against the previous year. Over the period under review, the import price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2020 when the import price increased by 48% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+13.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform