ECOWAS: Market for Furnace Burners For Solid Fuel Or Gas 2022

Market Size for Furnace Burners For Solid Fuel Or Gas in ECOWAS

In 2021, the ECOWAS solid fuel furnace burner market decreased by -69.9% to $X, falling for the second year in a row after three years of growth. In general, consumption, however, continues to indicate a strong increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Furnace Burners For Solid Fuel Or Gas in ECOWAS

In value terms, solid fuel furnace burner production expanded remarkably to $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.1% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 78% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports in ECOWAS

Solid fuel furnace burner exports expanded modestly to X tons in 2021, increasing by 3.9% compared with 2020 figures. Overall, exports enjoyed a resilient increase. The growth pace was the most rapid in 2013 with an increase of 157% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, solid fuel furnace burner exports declined to $X in 2021. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 238%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Cote d'Ivoire (X tons) represented the key exporter of furnace burners for solid fuel or gas, achieving 82% of total exports. It was distantly followed by Nigeria (X tons), making up a 17% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the furnace burners for solid fuel or gas exports, with a CAGR of +49.6% from 2012 to 2021. At the same time, Nigeria (+37.7%) displayed positive paces of growth. Cote d'Ivoire (+75 p.p.) and Nigeria (+14 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest solid fuel furnace burner supplier in ECOWAS, comprising 74% of total exports. The second position in the ranking was held by Nigeria ($X), with a 21% share of total exports.

In Cote d'Ivoire, solid fuel furnace burner exports expanded at an average annual rate of +42.6% over the period from 2012-2021.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, which is down by -18% against the previous year. In general, the export price saw a deep reduction. The pace of growth was the most pronounced in 2013 when the export price increased by 32%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Cote d'Ivoire stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-0.3%).

Imports of Furnace Burners For Solid Fuel Or Gas

Imports in ECOWAS

In 2021, purchases abroad of furnace burners for solid fuel or gas decreased by -83.3% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports, however, recorded a significant increase. The growth pace was the most rapid in 2019 with an increase of 620%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, solid fuel furnace burner imports shrank notably to $X in 2021. In general, imports, however, posted strong growth. The growth pace was the most rapid in 2019 when imports increased by 244%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Nigeria (X tons) was the major importer of furnace burners for solid fuel or gas, committing 64% of total imports. It was distantly followed by Senegal (X tons), committing a 29% share of total imports. Burkina Faso (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to solid fuel furnace burner imports into Nigeria stood at +36.4%. At the same time, Senegal (+39.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +39.9% from 2012-2021. Burkina Faso experienced a relatively flat trend pattern. From 2012 to 2021, the share of Nigeria and Senegal increased by +34 and +18 percentage points, respectively.

In value terms, the largest solid fuel furnace burner importing markets in ECOWAS were Nigeria ($X), Senegal ($X) and Burkina Faso ($X), together comprising 79% of total imports.

Senegal, with a CAGR of +26.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 74% against the previous year. Overall, the import price, however, faced a abrupt descent. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (-9.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform