Eastern Asia: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Eastern Asia

The East Asian liquid fuel furnace burner market fell remarkably to $X in 2021, waning by -16.3% against the previous year. Overall, consumption continues to indicate a noticeable decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Furnace Burners For Liquid Fuel in Eastern Asia

In value terms, liquid fuel furnace burner production dropped to $X in 2021 estimated in export price. In general, production saw a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of 42% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Exports of Furnace Burners For Liquid Fuel

Exports in Eastern Asia

In 2021, the amount of furnace burners for liquid fuel exported in Eastern Asia skyrocketed to X tons, with an increase of 17% compared with 2020 figures. Overall, exports, however, saw a noticeable reduction. The pace of growth was the most pronounced in 2017 with an increase of 40% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, liquid fuel furnace burner exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a pronounced contraction. The pace of growth appeared the most rapid in 2017 with an increase of 48%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China represented the key exporter of furnace burners for liquid fuel in Eastern Asia, with the volume of exports amounting to X tons, which was near 78% of total exports in 2021. Japan (X tons) held the second position in the ranking, followed by South Korea (X tons). All these countries together held approx. 20% share of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of furnace burners for liquid fuel. Japan (-6.9%), Taiwan (Chinese) (-11.4%) and South Korea (-15.7%) illustrated a downward trend over the same period. While the share of China (+24 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-1.8 p.p.), Japan (-5.1 p.p.) and South Korea (-16.7 p.p.) displayed negative dynamics.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, together comprising 99% of total exports.

China, with a CAGR of +4.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, picking up by 19% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 23%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat 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 ($X per ton), while Taiwan (Chinese) ($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 mixed trends in the export price figures.

Imports of Furnace Burners For Liquid Fuel

Imports in Eastern Asia

In 2021, purchases abroad of furnace burners for liquid fuel decreased by -29.7% to X tons, falling for the second year in a row after two years of growth. Overall, imports saw a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 3.1% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, liquid fuel furnace burner imports fell remarkably to $X in 2021. Over the period under review, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of 13%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China dominates imports structure, finishing at X tons, which was near 90% of total imports in 2021. It was distantly followed by South Korea (X tons), creating a 5.8% share of total imports. The following importers - Japan (X tons) and Taiwan (Chinese) (X tons) - each finished at a 4.1% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to liquid fuel furnace burner imports into China stood at -8.8%. South Korea (-6.4%), Japan (-7.7%) and Taiwan (Chinese) (-25.6%) illustrated a downward trend over the same period. China (+8.6 p.p.) and South Korea (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) saw its share reduced by -8.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported furnace burners for liquid fuel in Eastern Asia, comprising 77% of total imports. The second position in the ranking was held by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value in China totaled -11.1%. In the other countries, the average annual rates were as follows: South Korea (+3.6% per year) and Japan (+4.8% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, dropping by -5.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 15% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+13.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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