Latin America and the Caribbean: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Latin America and the Caribbean

The Latin American liquid fuel furnace burner market dropped notably to $X in 2021, reducing by -24.3% against the previous year. In general, consumption recorded a mild downturn. As a result, consumption reached the peak level of $X, and then contracted dramatically in the following year.

Production of Furnace Burners For Liquid Fuel in Latin America and the Caribbean

In value terms, liquid fuel furnace burner production dropped markedly to $X in 2021 estimated in export price. Overall, production continues to indicate a slight curtailment. The pace of growth was the most pronounced in 2020 when the production volume increased by 141% against the previous year. As a result, production reached the peak level of $X, and then dropped markedly in the following year.

Exports of Furnace Burners For Liquid Fuel

Exports in Latin America and the Caribbean

In 2021, overseas shipments of furnace burners for liquid fuel decreased by -35.8% to X tons, falling for the third consecutive year after two years of growth. Overall, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 82%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, liquid fuel furnace burner exports shrank dramatically to $X in 2021. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 66% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Colombia (X tons) and Mexico (X tons) prevails in exports structure, together making up 75% of total exports. Guatemala (X kg) held the next position in the ranking, followed by Trinidad and Tobago (X kg). All these countries together held near 12% share of total exports. El Salvador (X kg), Costa Rica (X kg) and Brazil (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 key exporting countries, was attained by Costa Rica (with a CAGR of +20.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest liquid fuel furnace burner supplying countries in Latin America and the Caribbean were Mexico ($X), Colombia ($X) and Trinidad and Tobago ($X), together accounting for 80% of total exports.

In terms of the main exporting countries, Trinidad and Tobago, with a CAGR of +38.2%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, reducing by -10% against the previous year. Over the period under review, the export price saw a deep reduction. The growth pace was the most rapid in 2017 an increase of 20%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Brazil ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Trinidad and Tobago (+25.7%), while the other leaders experienced more modest paces of growth.

Imports of Furnace Burners For Liquid Fuel

Imports in Latin America and the Caribbean

In 2021, overseas purchases of furnace burners for liquid fuel were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 12% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, liquid fuel furnace burner imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 19%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X tons) and Brazil (X tons) represented the main importers of furnace burners for liquid fuel in Latin America and the Caribbean, together recording near 54% of total imports. Chile (X tons) ranks next in terms of the total imports with an 11% share, followed by Ecuador (8%), Cuba (6%) and Peru (5.8%). Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Brazil (with a CAGR of +4.9%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the largest liquid fuel furnace burner importing markets in Latin America and the Caribbean were Brazil ($X), Mexico ($X) and Cuba ($X), with a combined 69% share of total imports.

Among the main importing countries, Brazil, with a CAGR of +14.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +3.5%. The growth pace was the most rapid in 2013 an increase of 20% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Cuba ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cuba (+15.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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