ASEAN: Market for Furnace Burners For Solid Fuel Or Gas 2022

Exports of Furnace Burners For Solid Fuel Or Gas

Exports in ASEAN

In 2021, the amount of furnace burners for solid fuel or gas exported in ASEAN surged to X tons, jumping by 27% on 2020 figures. Overall, exports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2019 with an increase of 59% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, solid fuel furnace burner exports soared to $X in 2021. Total exports indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +91.7% against 2018 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 82% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Malaysia (X tons) was the largest exporter of furnace burners for solid fuel or gas, creating 62% of total exports. Singapore (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons) and Indonesia (X tons). All these countries together held approx. 37% share of total exports.

Exports from Malaysia increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, Singapore (+23.7%) and Vietnam (+16.5%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +23.7% from 2012-2021. By contrast, Indonesia (-27.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia, Singapore and Vietnam increased by +40, +21 and +6 percentage points, respectively.

In value terms, the largest solid fuel furnace burner supplying countries in ASEAN were Singapore ($X), Malaysia ($X) and Vietnam ($X), together accounting for 98% of total exports.

Singapore, with a CAGR of +25.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, rising by 14% against the previous year. In general, the export price posted a buoyant increase. The growth pace was the most rapid in 2013 an increase of 134%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.6%), while the other leaders experienced more modest paces of growth.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports in ASEAN

In 2021, after two years of growth, there was significant decline in purchases abroad of furnace burners for solid fuel or gas, when their volume decreased by -53.3% to X tons. In general, imports continue to indicate a mild slump. The growth pace was the most rapid in 2020 when imports increased by 83%. As a result, imports reached the peak of X tons, and then reduced notably in the following year.

In value terms, solid fuel furnace burner imports dropped remarkably to $X in 2021. Overall, imports, however, recorded pronounced growth. The pace of growth appeared the most rapid in 2019 with an increase of 60% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then contracted dramatically in the following year.

Imports by Country

In 2021, Indonesia (X tons) represented the largest importer of furnace burners for solid fuel or gas, comprising 47% of total imports. Malaysia (X tons) held a 19% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (15%), Thailand (12%) and Singapore (4.6%).

Indonesia experienced a relatively flat trend pattern with regard to volume of imports of furnace burners for solid fuel or gas. At the same time, Vietnam (+16.9%) and Thailand (+8.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +16.9% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, Malaysia (-9.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam, Thailand and Indonesia increased by +12, +7.2 and +5.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest solid fuel furnace burner importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Vietnam ($X), with a combined 71% share of total imports.

Among the main importing countries, Vietnam, with a CAGR of +14.8%, saw 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, jumping by 43% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Malaysia (+9.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform