Asia: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Asia

The Asian liquid fuel furnace burner market dropped to $X in 2021, which is down by -13.3% against the previous year. Overall, consumption showed a slight curtailment. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Production of Furnace Burners For Liquid Fuel in Asia

In value terms, liquid fuel furnace burner production declined dramatically to $X in 2021 estimated in export price. In general, production saw a mild slump. The growth pace was the most rapid in 2020 when the production volume increased by 44%. As a result, production reached the peak level of $X, and then shrank dramatically in the following year.

Exports of Furnace Burners For Liquid Fuel

Exports in Asia

In 2021, shipments abroad of furnace burners for liquid fuel increased by 9.3% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 when exports increased by 114%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, liquid fuel furnace burner exports surged to $X in 2021. In general, exports, however, showed a slight decline. The growth pace was the most rapid in 2017 when exports increased by 64% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China was the major exporting country with an export of about X tons, which recorded 56% of total exports. India (X tons) took the second position in the ranking, followed by Turkey (X tons), Japan (X tons) and South Korea (X tons). All these countries together took approx. 40% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of furnace burners for liquid fuel. At the same time, India (+8.9%) and Turkey (+4.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +8.9% from 2012-2021. By contrast, Japan (-6.9%) and South Korea (-15.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, India and Turkey increased by +12, +9.3 and +4.9 percentage points, respectively.

In value terms, the largest liquid fuel furnace burner supplying countries in Asia were China ($X), Japan ($X) and India ($X), together accounting for 79% of total exports.

India, with a CAGR of +9.2%, saw 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

The export price in Asia stood at $X per ton in 2021, growing by 17% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by 24%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+16.6%), while the other leaders experienced more modest paces of growth.

Imports of Furnace Burners For Liquid Fuel

Imports in Asia

In 2021, the amount of furnace burners for liquid fuel imported in Asia soared to X tons, jumping by 40% against 2020. In general, imports, however, showed a noticeable slump. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, liquid fuel furnace burner imports dropped to $X in 2021. Overall, imports, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2019 with an increase of 5.4%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of liquid fuel furnace burner imports in 2021 were Malaysia (X tons), China (X tons) and Indonesia (X tons), together resulting at 56% of total import. The United Arab Emirates (X tons) ranks next in terms of the total imports with a 7.1% share, followed by Iraq (5.6%). India (X tons), Lebanon (X tons), Kazakhstan (X tons), Jordan (X tons), Vietnam (X tons), Bangladesh (X tons), Turkey (X tons) and Thailand (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +23.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported furnace burners for liquid fuel in Asia, comprising 31% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9% share of total imports. It was followed by Malaysia, with a 7% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to -11.1%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+2.5% per year) and Malaysia (-0.6% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, shrinking by -31.5% against the previous year. Overall, the import price continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2020 when the import price increased by 31% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 Thailand (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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