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

Market Size for Furnace Burners For Solid Fuel Or Gas in Colombia

The Colombian solid fuel furnace burner market surged to $X in 2021, with an increase of 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a abrupt downturn. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports from Colombia

In 2021, shipments abroad of furnace burners for solid fuel or gas was finally on the rise to reach X kg for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, saw a abrupt descent. The pace of growth was the most pronounced in 2017 with an increase of 1,257% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, solid fuel furnace burner exports surged to $X in 2021. Over the period under review, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 719% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico (X kg) was the main destination for solid fuel furnace burner exports from Colombia, accounting for a 72% share of total exports. Moreover, solid fuel furnace burner exports to Mexico exceeded the volume sent to the second major destination, Honduras (X kg), threefold. The third position in this ranking was held by Peru (X kg), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (0.0% per year) and Peru (-27.3% per year).

In value terms, Mexico ($X), Ecuador ($X) and Honduras ($X) were the largest markets for solid fuel furnace burner exported from Colombia worldwide, with a combined 90% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of +6.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average solid fuel furnace burner export price stood at $X per ton in 2021, rising by 5.5% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, solid fuel furnace burner export price increased by +70.2% against 2017 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 38%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Ecuador ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+36.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports into Colombia

In 2021, the amount of furnace burners for solid fuel or gas imported into Colombia soared to X tons, growing by 31% compared with the previous year. In general, imports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2014 when imports increased by 170%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, solid fuel furnace burner imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of 86% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest solid fuel furnace burner supplier to Colombia, accounting for a 39% share of total imports. Moreover, solid fuel furnace burner imports from Turkey exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey totaled +88.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+114.9% per year) and the United States (-14.8% per year).

In value terms, the United States ($X), Italy ($X) and Turkey ($X) constituted the largest solid fuel furnace burner suppliers to Colombia, with a combined 67% share of total imports. These countries were followed by Taiwan (Chinese), Spain, Chile, China and Mexico, which together accounted for a further 16%.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of +91.9%, saw the highest growth rate of 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 average solid fuel furnace burner import price amounted to $X per ton, dropping by -11.4% against the previous year. In general, the import price saw a drastic downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 79%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+26.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :