Croatia: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Croatia

In 2021, the Croatian liquid fuel furnace burner market increased by 15% to $X, rising for the third year in a row after three years of decline. In general, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +129.5% against 2018 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Production of Furnace Burners For Liquid Fuel in Croatia

In value terms, liquid fuel furnace burner production shrank to $X in 2021 estimated in export price. In general, the total production indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +60.4% against 2015 indices. The pace of growth was the most pronounced in 2013 with an increase of 73%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Furnace Burners For Liquid Fuel

Exports from Croatia

In 2021, shipments abroad of furnace burners for liquid fuel decreased by -74.7% to X tons, falling for the third year in a row after two years of growth. In general, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 4,257% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, liquid fuel furnace burner exports shrank markedly to $X in 2021. Over the period under review, exports, however, posted resilient growth. The pace of growth appeared the most rapid in 2013 with an increase of 2,586%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for liquid fuel furnace burner exports from Croatia, with a 76% share of total exports. Moreover, liquid fuel furnace burner exports to Germany exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled +165.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (-1.7% per year) and Serbia (-1.7% per year).

In value terms, Germany ($X) remains the key foreign market for furnace burners for liquid fuel exports from Croatia, comprising 77% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +157.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+0.2% per year) and Serbia (+6.9% per year).

Export Prices by Country

The average liquid fuel furnace burner export price stood at $X per ton in 2021, with a decrease of -4% against the previous year. In general, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, liquid fuel furnace burner export price increased by +30.9% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 56%. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then contracted modestly in the following year.

Average prices varied somewhat for the major overseas markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Serbia ($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 Serbia (+8.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Furnace Burners For Liquid Fuel

Imports into Croatia

In 2021, purchases abroad of furnace burners for liquid fuel increased by 31% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 101%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, liquid fuel furnace burner imports surged to $X in 2021. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 57%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest liquid fuel furnace burner supplier to Croatia, with a 67% share of total imports. Moreover, liquid fuel furnace burner imports from Italy exceeded the figures recorded by the second-largest supplier, Slovenia (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+37.9% per year) and Germany (-22.9% per year).

In value terms, the largest liquid fuel furnace burner suppliers to Croatia were Slovenia ($X), Italy ($X) and Germany ($X), together accounting for 88% of total imports. Sweden, China and Serbia lagged somewhat behind, together comprising a further 8.8%.

In terms of the main suppliers, China, with a CAGR of +53.5%, 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 average liquid fuel furnace burner import price amounted to $X per ton, declining by -7.4% against the previous year. Over the period under review, the import price showed a pronounced descent. The most prominent rate of growth was recorded in 2020 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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