Bangladesh: Furnace Burner Market 2024

Furnace Burner Market Size in Bangladesh

For the fourth year in a row, the Bangladeshi furnace burner market recorded growth in sales value, which increased by 14% to $X in 2021. Overall, consumption showed a significant increase. Furnace burner consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Furnace Burner Exports

Exports from Bangladesh

Furnace burner exports from Bangladesh shrank markedly to X kg in 2019, which is down by -46.1% compared with the previous year's figure. In general, exports showed a dramatic setback. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2019, the exports remained at a lower figure.

In value terms, furnace burner exports dropped dramatically to $X in 2019. Overall, exports recorded a dramatic contraction. The exports peaked at $X in 2015; however, from 2016 to 2019, the exports stood at a somewhat lower figure.

Exports by Country

Burkina Faso (X kg) was the main destination for furnace burner exports from Bangladesh, accounting for a 95% share of total exports. Moreover, furnace burner exports to Burkina Faso exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X kg), more than tenfold.

From 2013 to 2019, the average annual rate of growth in terms of volume to Burkina Faso was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (-97.7% per year) and Germany (-46.4% per year).

In value terms, Democratic Republic of the Congo ($X), Burkina Faso ($X) and Germany ($X) appeared to be the largest markets for furnace burner exported from Bangladesh worldwide.

Germany, with a CAGR of +4.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average furnace burner export price stood at $X per ton in 2019, with a decrease of -69.3% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2018, and then reduced dramatically in the following year.

There were significant differences in the average prices for the major external markets. In 2019, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Burkina Faso ($X per ton) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+272.4%).

Furnace Burner Imports

Imports into Bangladesh

For the fourth year in a row, Bangladesh recorded growth in supplies from abroad of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers, which increased by 42% to X tons in 2021. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 207% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, furnace burner imports amounted to $X in 2021. Over the period under review, imports posted a significant expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 232% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest furnace burner supplier to Bangladesh, accounting for a 64% share of total imports. Moreover, furnace burner imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), sixfold. The third position in this ranking was taken by Pakistan (X tons), with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +58.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+16.6% per year) and Pakistan (+41.3% per year).

In value terms, China ($X) constituted the largest supplier of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers to Bangladesh, comprising 42% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 7% share of total imports. It was followed by Hong Kong SAR, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +54.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+19.6% per year) and Hong Kong SAR (+46.2% per year).

Import Prices by Country

In 2021, the average furnace burner import price amounted to $X per ton, which is down by -29.3% against the previous year. Overall, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in 2018 an increase of 26%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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