Dominican Republic: Furnace Burner Market 2024

Furnace Burner Market Size in the Dominican Republic

The Dominican furnace burner market declined dramatically to $X in 2021, with a decrease of -83.2% 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, posted a temperate expansion. As a result, consumption attained the peak level of $X, and then shrank sharply in the following year.

Furnace Burner Exports

Exports from the Dominican Republic

Furnace burner exports from the Dominican Republic surged to X kg in 2021, jumping by 94% against the previous year's figure. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 536%. Over the period under review, the exports attained the maximum at X kg in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, furnace burner exports surged to $X in 2021. In general, exports posted a moderate expansion. The pace of growth was the most pronounced in 2020 with an increase of 537% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Jamaica (X kg), Italy (X kg) and the United States (X kg) were the main destinations of furnace burner exports from the Dominican Republic, with a combined 91% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +560.0%), while the other leaders experienced more modest paces of growth.

In value terms, Cuba ($X) remains the key foreign market for furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers exports from the Dominican Republic, comprising 47% of total exports. The second position in the ranking was held by Jamaica ($X), with a 22% share of total exports. It was followed by the United States, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cuba amounted to +62.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+19.9% per year) and the United States (-14.7% per year).

Export Prices by Country

In 2021, the average furnace burner export price amounted to $X per ton, reducing by -4.9% against the previous year. In general, the export price continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2019 an increase of 282%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to Italy ($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 Honduras (+798,471.4%), while the prices for the other major destinations experienced more modest paces of growth.

Furnace Burner Imports

Imports into the Dominican Republic

Furnace burner imports into the Dominican Republic reduced sharply to X tons in 2021, shrinking by -78.8% compared with the year before. Overall, imports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2020 with an increase of 724% against the previous year. As a result, imports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, furnace burner imports shrank markedly to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by 629%. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of furnace burner to the Dominican Republic, with a 75% share of total imports. Moreover, furnace burner imports from China exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X tons), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +34.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (0.0% per year) and Taiwan (Chinese) (+20.4% per year).

In value terms, China ($X), Austria ($X) and Taiwan (Chinese) ($X) constituted the largest furnace burner suppliers to the Dominican Republic, together comprising 57% of total imports.

Taiwan (Chinese), with a CAGR of +25.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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 furnace burner import price amounted to $X per ton, with a decrease of -38.7% against the previous year. In general, the import price saw a deep reduction. The growth pace was the most rapid in 2019 an increase of 95%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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