Ghana: Furnace Burner Market 2024

Furnace Burner Market Size in Ghana

The Ghanian furnace burner market surged to $X in 2021, with an increase of 50% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed notable growth. Furnace burner consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Furnace Burner Exports

Exports from Ghana

After two years of growth, overseas shipments of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers decreased by -39.2% to X kg in 2021. Over the period under review, exports saw a significant contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 152% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, furnace burner exports reduced rapidly to $X in 2021. Overall, exports saw a significant contraction. The most prominent rate of growth was recorded in 2020 with an increase of 15%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Tanzania (X kg) was the main destination for furnace burner exports from Ghana, accounting for a 61% share of total exports. Moreover, furnace burner exports to Tanzania exceeded the volume sent to the second major destination, Burkina Faso (X kg), twofold.

From 2012 to 2021, the average annual growth rate of volume to Tanzania totaled +63.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-36.2% per year) and Cote d'Ivoire (-9.8% per year).

In value terms, Burkina Faso ($X) remains the key foreign market for furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers exports from Ghana, comprising 69% of total exports. The second position in the ranking was held by Tanzania ($X), with a 20% share of total exports. It was followed by Cote d'Ivoire, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Burkina Faso totaled -31.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+59.9% per year) and Cote d'Ivoire (-2.8% per year).

Export Prices by Country

The average furnace burner export price stood at $X per ton in 2021, jumping by 26% against the previous year. Overall, the export price, however, recorded a pronounced reduction. The growth pace was the most rapid in 2018 an increase of 172% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+7.7%), while the prices for the other major destinations experienced mixed trend patterns.

Furnace Burner Imports

Imports into Ghana

In 2021, the amount of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers imported into Ghana skyrocketed to X tons, growing by 63% against the year before. In general, imports continue to indicate a modest increase. The growth pace was the most rapid in 2016 with an increase of 94%. 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, furnace burner imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 54% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of furnace burner to Ghana, accounting for a 63% share of total imports. Moreover, furnace burner imports from China exceeded the figures recorded by the second-largest supplier, South Africa (X tons), fourfold. France (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+9.3% per year) and France (+27.8% per year).

In value terms, the largest furnace burner suppliers to Ghana were the Netherlands ($X), China ($X) and South Africa ($X), together comprising 50% of total imports. France, Lebanon, Germany, Italy, India and the UK lagged somewhat behind, together comprising a further 28%.

France, with a CAGR of +17.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average furnace burner import price amounted to $X per ton, with a decrease of -29.5% against the previous year. In general, the import price saw a mild contraction. The pace of growth was the most pronounced in 2018 an increase of 302%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+4,737.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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