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

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

The Kuwaiti solid fuel furnace burner market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption, however, saw a abrupt slump. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports from Kuwait

In 2021, overseas shipments of furnace burners for solid fuel or gas were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports posted strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 2,924% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, solid fuel furnace burner exports soared to $X in 2021. In general, exports posted strong growth. The pace of growth appeared the most rapid in 2013 when exports increased by 869%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for solid fuel furnace burner exports from Kuwait, accounting for a 78% share of total exports. Moreover, solid fuel furnace burner exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X kg), threefold.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates stood at +18.8%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for solid fuel furnace burner exports from Kuwait, comprising 97% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled +35.1%.

Export Prices by Country

In 2021, the average solid fuel furnace burner export price amounted to $X per ton, dropping by -2.8% against the previous year. In general, the export price, however, saw pronounced growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by 1,157%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Saudi Arabia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+53,552.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports into Kuwait

In 2021, after four years of decline, there was significant growth in overseas purchases of furnace burners for solid fuel or gas, when their volume increased by 72% to X tons. Over the period under review, imports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 182% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, solid fuel furnace burner imports surged to $X in 2021. In general, imports, however, showed a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of 476%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Mexico (X tons) constituted the largest supplier of solid fuel furnace burner to Kuwait, accounting for a 61% share of total imports. Moreover, solid fuel furnace burner imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. The Netherlands (X tons) ranked third in terms of total imports with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-29.3% per year) and the Netherlands (+22.5% per year).

In value terms, the largest solid fuel furnace burner suppliers to Kuwait were Mexico ($X), Luxembourg ($X) and the Netherlands ($X), with a combined 63% share of total imports. The United States, the Czech Republic, Malaysia, Italy, Japan and China lagged somewhat behind, together comprising a further 21%.

The Czech Republic, with a CAGR of +55.7%, recorded the highest rates of growth with regard to 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

The average solid fuel furnace burner import price stood at $X per ton in 2021, reducing by -10.3% against the previous year. In general, the import price, however, saw buoyant growth. The growth pace was the most rapid in 2016 an increase of 104% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Luxembourg ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Croatia (+224.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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