ECOWAS: Furnace Burner Market 2024

Furnace Burner Market Size in ECOWAS

In 2021, after four years of growth, there was significant decline in the ECOWAS furnace burner market, when its value decreased by -67.7% to $X. In general, consumption, however, saw a measured increase. The level of consumption peaked at $X in 2020, and then fell dramatically in the following year.

Furnace Burner Production in ECOWAS

In value terms, furnace burner production fell modestly to $X in 2021 estimated in export price. Overall, production showed a noticeable slump. The pace of growth appeared the most rapid in 2015 with an increase of 24% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Furnace Burner Exports

Exports in ECOWAS

In 2021, the amount of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers exported in ECOWAS surged to X tons, jumping by 109% on 2020 figures. Over the period under review, exports enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 868%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, furnace burner exports soared to $X in 2021. Overall, exports saw a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by 405% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Niger (X tons) was the largest exporter of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers, achieving 53% of total exports. It was distantly followed by Cote d'Ivoire (X tons), Burkina Faso (X tons) and Togo (X tons), together mixing up a 39% share of total exports. Nigeria (X kg) and Senegal (X kg) took a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Niger (with a CAGR of +41.2%), while the other leaders experienced more modest paces of growth.

In value terms, Niger ($X) emerged as the largest furnace burner supplier in ECOWAS, comprising 55% of total exports. The second position in the ranking was held by Togo ($X), with a 20% share of total exports. It was followed by Cote d'Ivoire, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Niger amounted to +18.7%. In the other countries, the average annual rates were as follows: Togo (+40.2% per year) and Cote d'Ivoire (+19.5% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per ton, jumping by 18% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 117%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per ton), while Cote d'Ivoire ($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 (+7.8%), while the other leaders experienced more modest paces of growth.

Furnace Burner Imports

Imports in ECOWAS

In 2021, purchases abroad of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers decreased by -78.6% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 396% against the previous year. The volume of import peaked at X tons in 2020, and then dropped sharply in the following year.

In value terms, furnace burner imports shrank dramatically to $X in 2021. Overall, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 268% against the previous year. The level of import peaked at $X in 2020, and then plummeted in the following year.

Imports by Country

Nigeria prevails in imports structure, resulting at X tons, which was approx. 94% of total imports in 2021. Ghana (X tons) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers imports, with a CAGR of +32.2% from 2012 to 2021. At the same time, Ghana (+1.3%) displayed positive paces of growth. While the share of Nigeria (+51 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-9.2 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) constitutes the largest market for imported furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers in ECOWAS, comprising 77% of total imports. The second position in the ranking was taken by Ghana ($X), with a 6.1% share of total imports.

In Nigeria, furnace burner imports increased at an average annual rate of +20.5% over the period from 2012-2021.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, dropping by -13.6% against the previous year. In general, the import price continues to indicate a deep slump. The pace of growth was the most pronounced in 2014 when the import price increased by 49%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-1.5%).

Source: IndexBox Platform