Eastern Asia: Furnace Burner Market 2024

Furnace Burner Market Size in Eastern Asia

The East Asian furnace burner market rose notably to $X in 2021, growing by 11% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Furnace Burner Production in Eastern Asia

In value terms, furnace burner production stood at $X in 2021 estimated in export price. In general, production, however, showed a mild decrease. The pace of growth appeared the most rapid in 2016 when the production volume increased by 21% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Furnace Burner Exports

Exports in Eastern Asia

In 2021, the amount of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers exported in Eastern Asia reduced to X tons, which is down by -11.1% against the previous year. Overall, exports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of 17% 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, furnace burner exports contracted sharply to $X in 2021. In general, exports continue to indicate a pronounced reduction. The growth pace was the most rapid in 2016 when exports increased by 15% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, amounting to X tons, which was near 85% of total exports in 2021. Taiwan (Chinese) (X tons) took a 6% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (5.1%). Japan (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -7.0% from 2012 to 2021. Taiwan (Chinese) (-2.7%), South Korea (-8.5%) and Japan (-11.3%) illustrated a downward trend over the same period. Taiwan (Chinese) (+2 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -1.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest furnace burner supplier in Eastern Asia, comprising 70% of total exports. The second position in the ranking was held by Japan ($X), with a 14% share of total exports. It was followed by South Korea, with a 9.6% share.

In China, furnace burner exports plunged by an average annual rate of -1.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-11.5% 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, shrinking by -15.1% against the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, furnace burner export price increased by +37.3% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 61% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank dramatically in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, 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 (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Furnace Burner Imports

Imports in Eastern Asia

In 2021, imports of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers in Eastern Asia reduced remarkably to X tons, declining by -30.1% against 2020 figures. In general, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2017 when imports increased by 51% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, furnace burner imports fell markedly to $X in 2021. Over the period under review, imports saw a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 35% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China represented the major importer of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers in Eastern Asia, with the volume of imports reaching X tons, which was approx. 59% of total imports in 2021. South Korea (X tons) ranks second in terms of the total imports with an 18% share, followed by Japan (12%) and Taiwan (Chinese) (7.9%). Hong Kong SAR (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to furnace burner imports into China stood at -7.3%. At the same time, Japan (+10.2%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +10.2% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, South Korea (-3.3%) and Taiwan (Chinese) (-9.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan and South Korea increased by +9.2 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers in Eastern Asia, comprising 66% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by Taiwan (Chinese), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of value in China totaled -6.8%. In the other countries, the average annual rates were as follows: South Korea (-4.2% per year) and Taiwan (Chinese) (-1.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, increasing by 2.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 17% against the previous year. The level of import peaked in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Japan ($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) (+9.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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