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

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

The GCC solid fuel furnace burner market declined rapidly to $X in 2021, which is down by -20.2% against the previous year. Over the period under review, consumption, however, showed a perceptible descent. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Furnace Burners For Solid Fuel Or Gas in GCC

In value terms, solid fuel furnace burner production soared to $X in 2021 estimated in export price. In general, production saw a significant increase. The pace of growth appeared the most rapid in 2019 when the production volume increased by 1,745%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports in GCC

In 2021, approx. X tons of furnace burners for solid fuel or gas were exported in GCC; picking up by 110% compared with 2020. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 231% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in years to come.

In value terms, solid fuel furnace burner exports reduced markedly to $X in 2021. Overall, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by 293%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X tons, which was approx. 92% of total exports in 2021. Bahrain (X tons) and Oman (X tons) took a minor share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the furnace burners for solid fuel or gas exports, with a CAGR of +23.8% from 2012 to 2021. At the same time, Bahrain (+10.5%) and Oman (+2.8%) displayed positive paces of growth. From 2012 to 2021, the share of the United Arab Emirates increased by +18 percentage points.

In value terms, the United Arab Emirates ($X), Bahrain ($X) and Oman ($X) were the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +38.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, falling by -71.9% against the previous year. Over the period under review, the export price faced a abrupt contraction. The pace of growth was the most pronounced in 2014 an increase of 111% against the previous year. 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 Bahrain ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+25.1%), while the other leaders experienced a decline in the export price figures.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports in GCC

In 2021, supplies from abroad of furnace burners for solid fuel or gas increased by 78% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2016 with an increase of 80%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, solid fuel furnace burner imports reduced notably to $X in 2021. Overall, imports, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2016 with an increase of 68% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) represented the major importer of furnace burners for solid fuel or gas, constituting 51% of total imports. Oman (X tons) ranks second in terms of the total imports with a 33% share, followed by Saudi Arabia (6.5%) and Bahrain (6%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bahrain (with a CAGR of +20.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported furnace burners for solid fuel or gas in GCC, comprising 55% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 20% share of total imports. It was followed by Oman, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -1.1%. In the other countries, the average annual rates were as follows: Saudi Arabia (-8.2% per year) and Oman (-4.4% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, reducing by -56.3% against the previous year. Overall, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2013 an increase of 27% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform