ASEAN: Furnace Burner Market 2024

Furnace Burner Market Size in ASEAN

After three years of growth, the ASEAN furnace burner market decreased by -48.8% to $X in 2021. In general, consumption, however, posted a pronounced increase. The level of consumption peaked at $X in 2020, and then dropped dramatically in the following year.

Furnace Burner Production in ASEAN

In value terms, furnace burner production contracted dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 103%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Furnace Burner Exports

Exports in ASEAN

After two years of decline, shipments abroad of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers increased by 18% to X tons in 2021. In general, exports, however, continue to indicate a slight slump. The most prominent rate of growth was recorded in 2017 with an increase of 389% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, furnace burner exports rose significantly to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 44% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia was the main exporting country with an export of around X tons, which accounted for 49% of total exports. It was distantly followed by Singapore (X tons), Vietnam (X tons) and Indonesia (X tons), together generating a 49% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of +22.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Malaysia ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2021, together accounting for 95% of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +26.8%, recorded the highest growth rate of the value of exports, 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, dropping by -5.9% against the previous year. Over the period under review, the export price, however, saw a slight increase. The most prominent rate of growth was recorded in 2019 an increase of 132%. The level of export peaked at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($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 (+7.5%), while the other leaders experienced mixed trends in the export price figures.

Furnace Burner Imports

Imports in ASEAN

In 2021, supplies from abroad of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers decreased by -58% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, imports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 157%. Over the period under review, imports attained the maximum at X tons in 2020, and then fell notably in the following year.

In value terms, furnace burner imports reduced markedly to $X in 2021. Overall, imports, however, saw a perceptible increase. The growth pace was the most rapid in 2019 with an increase of 112% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Indonesia was the major importing country with an import of about X tons, which finished at 81% of total imports. It was distantly followed by Malaysia (X tons), achieving a 10% share of total imports. The following importers - Vietnam (X tons) and Thailand (X tons) - each amounted to a 5.4% share of total imports.

Indonesia was also the fastest-growing in terms of the furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers imports, with a CAGR of +13.5% from 2012 to 2021. At the same time, Malaysia (+2.7%) displayed positive paces of growth. By contrast, Thailand (-1.1%) and Vietnam (-11.5%) illustrated a downward trend over the same period. Indonesia (+28 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, Malaysia and Vietnam saw its share reduced by -3.3%, -6.2% and -14.2% from 2012 to 2021, respectively.

In value terms, the largest furnace burner importing markets in ASEAN were Indonesia ($X), Malaysia ($X) and Thailand ($X), with a combined 82% share of total imports.

Among the main importing countries, Thailand, with a CAGR of +10.0%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, jumping by 24% against the previous year. Over the period under review, the import price, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2017 when the import price increased by 69% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, 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 Thailand (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform