Kuwait: Furnace Burner Market 2024

Furnace Burner Market Size in Kuwait

In 2021, the Kuwaiti furnace burner market was finally on the rise to reach $X after four years of decline. Over the period under review, consumption, however, saw a deep slump. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Furnace Burner Exports

Exports from Kuwait

For the third year in a row, Kuwait recorded growth in overseas shipments of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers, which increased by 71% to X tons in 2021. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2013 when exports increased by 784%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, furnace burner exports surged to $X in 2021. Overall, exports saw significant growth. The pace of growth was the most pronounced in 2017 with an increase of 528%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons), Saudi Arabia (X tons) and Qatar (X kg) were the main destinations of furnace burner exports from Kuwait, with a combined 99% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +35.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers exports from Kuwait, comprising 92% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 5.3% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +55.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+8.4% per year) and Qatar (-20.7% per year).

Export Prices by Country

In 2021, the average furnace burner export price amounted to $X per ton, growing by 3.4% against the previous year. In general, the export price recorded a resilient increase. The pace of growth appeared the most rapid in 2014 an increase of 487% against the previous year. 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 lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Saudi Arabia ($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 Italy (+55.7%), while the prices for the other major destinations experienced more modest paces of growth.

Furnace Burner Imports

Imports into Kuwait

In 2021, after four years of decline, there was significant growth in overseas purchases of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers, when their volume increased by 68% to X tons. In general, imports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2016 with an increase of 206%. 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, furnace burner imports soared to $X in 2021. Overall, imports, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2016 with an increase of 461% against the previous year. 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 furnace burner supplier to Kuwait, with a 24% share of total imports. Moreover, furnace burner imports from Mexico exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Mexico stood at -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-24.2% per year) and Japan (-8.3% per year).

In value terms, Japan ($X), Mexico ($X) and Luxembourg ($X) constituted the largest furnace burner suppliers to Kuwait, with a combined 36% share of total imports. Germany, Italy, the Netherlands, the United States, the United Arab Emirates, Malaysia, Austria, China, Saudi Arabia and Iran lagged somewhat behind, together comprising a further 24%.

The Netherlands, with a CAGR of +38.5%, recorded 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

The average furnace burner import price stood at $X per ton in 2021, rising by 76% against the previous year. In general, the import price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 an increase of 84%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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