Asia-Pacific: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Asia-Pacific

The Asia-Pacific liquid fuel furnace burner market fell to $X in 2021, dropping by -14.2% against the previous year. Over the period under review, consumption saw a slight downturn. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Production of Furnace Burners For Liquid Fuel in Asia-Pacific

In value terms, liquid fuel furnace burner production dropped dramatically to $X in 2021 estimated in export price. In general, production saw a mild reduction. The pace of growth appeared the most rapid in 2020 with an increase of 44% against the previous year. As a result, production attained the peak level of $X, and then shrank dramatically in the following year.

Exports of Furnace Burners For Liquid Fuel

Exports in Asia-Pacific

In 2021, after three years of decline, there was significant growth in overseas shipments of furnace burners for liquid fuel, when their volume increased by 15% to X tons. Over the period under review, exports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 119%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, liquid fuel furnace burner exports surged to $X in 2021. In general, exports, however, showed a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of 64%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China was the key exporter of furnace burners for liquid fuel in Asia-Pacific, with the volume of exports reaching X tons, which was approx. 63% of total exports in 2021. It was distantly followed by India (X tons), Japan (X tons) and South Korea (X tons), together comprising a 33% 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%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, 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. While the share of China (+15 p.p.) and India (+11 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-5.6 p.p.) and South Korea (-15.4 p.p.) displayed negative dynamics.

In value terms, the largest liquid fuel furnace burner supplying countries in Asia-Pacific were China ($X), Japan ($X) and India ($X), with a combined 87% share of total exports.

India, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, surging by 13% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 45% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a 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 ($X per ton), while China ($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-Pacific

Liquid fuel furnace burner imports soared to X tons in 2021, increasing by 47% against 2020. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by 57% 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 shrank rapidly to $X in 2021. Overall, imports, however, recorded a abrupt contraction. The pace of growth was the most pronounced in 2019 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Malaysia (X tons), China (X tons) and Indonesia (X tons) represented roughly 70% of total imports in 2021. New Zealand (X tons) ranks next in terms of the total imports with a 9.1% share, followed by India (5.6%). Vietnam (X tons) and Bangladesh (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by New Zealand (with a CAGR of +38.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported furnace burners for liquid fuel in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 9.4% share of total imports. It was followed by New Zealand, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value in China stood at -11.1%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (-0.6% per year) and New Zealand (+27.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, declining by -42.4% against the previous year. Over the period under review, the import price showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the import price increased by 44%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 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 China ($X per ton), while Indonesia ($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 (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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