Latin America and the Caribbean: Market for Furnace Burners For Solid Fuel Or Gas 2022

Market Size for Furnace Burners For Solid Fuel Or Gas in Latin America and the Caribbean

The Latin American solid fuel furnace burner market soared to $X in 2021, jumping by 35% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Furnace Burners For Solid Fuel Or Gas in Latin America and the Caribbean

In value terms, solid fuel furnace burner production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 29% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports in Latin America and the Caribbean

In 2021, shipments abroad of furnace burners for solid fuel or gas decreased by -25.3% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 32% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, solid fuel furnace burner exports fell significantly to $X in 2021. In general, exports, however, enjoyed a notable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 122% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then fell rapidly in the following year.

Exports by Country

In 2021, Mexico (X tons) was the main exporter of furnace burners for solid fuel or gas, committing 85% of total exports. It was distantly followed by Brazil (X tons), mixing up an 11% share of total exports. Ecuador (X tons) followed a long way behind the leaders.

Exports from Mexico increased at an average annual rate of +25.5% from 2012 to 2021. At the same time, Ecuador (+43.4%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +43.4% from 2012-2021. By contrast, Brazil (-4.5%) illustrated a downward trend over the same period. While the share of Mexico (+82 p.p.), Brazil (+6.2 p.p.) and Ecuador (+2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest solid fuel furnace burner supplier in Latin America and the Caribbean, comprising 77% of total exports. The second position in the ranking was held by Brazil ($X), with a 21% share of total exports.

In Mexico, solid fuel furnace burner exports increased at an average annual rate of +18.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+3.4% per year) and Ecuador (+37.4% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, dropping by -27.4% against the previous year. In general, the export price, however, posted a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of 336% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood 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 Brazil ($X per ton), while Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+8.3%), while the other leaders experienced a decline in the export price figures.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports in Latin America and the Caribbean

In 2021, approx. X tons of furnace burners for solid fuel or gas were imported in Latin America and the Caribbean; jumping by 58% on the previous year. In general, imports, however, recorded a perceptible contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, solid fuel furnace burner imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible setback. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Mexico (X tons), distantly followed by Brazil (X tons), Peru (X tons), Ecuador (X tons), Argentina (X tons), Colombia (X tons), the Dominican Republic (X tons) and Chile (X tons) represented the key importers of furnace burners for solid fuel or gas, together achieving 89% of total imports.

From 2012 to 2021, the biggest increases were in the Dominican Republic (with a CAGR of +27.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest solid fuel furnace burner importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Chile ($X), together comprising 69% of total imports. Argentina, Peru, Colombia, Ecuador and the Dominican Republic lagged somewhat behind, together comprising a further 23%.

In terms of the main importing countries, the Dominican Republic, with a CAGR of +9.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, which is down by -16.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2020 when the import price increased by 28%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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