Eastern Asia: Market for Furnace Burners For Solid Fuel Or Gas 2022

Market Size for Furnace Burners For Solid Fuel Or Gas in Eastern Asia

The East Asian solid fuel furnace burner market amounted to $X in 2021, growing by 9.5% against the previous year. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Furnace Burners For Solid Fuel Or Gas in Eastern Asia

In value terms, solid fuel furnace burner production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 37% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports in Eastern Asia

In 2021, overseas shipments of furnace burners for solid fuel or gas decreased by -20.4% to X tons, falling for the fourth year in a row after two years of growth. Overall, exports recorded a deep setback. The growth pace was the most rapid in 2016 with an increase of 22%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, solid fuel furnace burner exports reduced dramatically to $X in 2021. Over the period under review, exports saw a perceptible downturn. The most prominent rate of growth was recorded in 2020 when exports increased by 28%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 81% of total exports in 2021. Taiwan (Chinese) (X tons) took an 8.6% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (6.2%). Japan (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -7.1% from 2012 to 2021. Taiwan (Chinese) (-2.0%), South Korea (-4.7%) and Japan (-13.0%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-2.4 p.p.) and China (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest solid fuel furnace burner supplier in Eastern Asia, comprising 73% of total exports. The second position in the ranking was held by Japan ($X), with a 9.9% share of total exports. It was followed by South Korea, with a 9.8% share.

In China, solid fuel furnace burner exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-13.3% per year) and South Korea (-1.6% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with a decrease of -18.2% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. 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 +32.9% against 2017 indices. The growth pace was the most rapid in 2020 when the export price increased by 40%. As a result, the export price attained the peak level of $X per ton, and then declined dramatically in the following year.

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 China (+8.7%), while the other leaders experienced mixed trends in the export price figures.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports in Eastern Asia

In 2021, imports of furnace burners for solid fuel or gas in Eastern Asia reduced rapidly to X tons, waning by -27% against 2020 figures. In general, imports recorded a drastic downturn. The pace of growth was the most pronounced in 2017 when imports increased by 58% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, solid fuel furnace burner imports contracted remarkably to $X in 2021. Over the period under review, imports recorded a noticeable setback. The pace of growth appeared the most rapid in 2017 with an increase of 49%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China was the largest importer of furnace burners for solid fuel or gas in Eastern Asia, with the volume of imports reaching X tons, which was approx. 66% of total imports in 2021. South Korea (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Japan (10%) and Taiwan (Chinese) (6.9%). Hong Kong SAR (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to solid fuel furnace burner imports into China stood at -5.2%. At the same time, Japan (+16.9%) and Hong Kong SAR (+4.1%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.9% from 2012-2021. By contrast, South Korea (-8.0%) and Taiwan (Chinese) (-10.3%) illustrated a downward trend over the same period. While the share of Japan (+8.6 p.p.) and Hong Kong SAR (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-4.5 p.p.) and Taiwan (Chinese) (-4.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported furnace burners for solid fuel or gas in Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Taiwan (Chinese), with an 8% share.

From 2012 to 2021, the average annual growth rate of value in China stood at -4.4%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-7.0% per year) and Taiwan (Chinese) (+0.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 16% against the previous year. Over the period under review, the import price recorded a modest expansion. The most prominent rate of growth was recorded in 2018 an increase of 19% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+11.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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