Middle East: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in the Middle East

After two years of growth, the Middle Eastern liquid fuel furnace burner market decreased by -5.9% to $X in 2021. In general, consumption, however, enjoyed strong growth. The level of consumption peaked at $X in 2020, and then contracted in the following year.

Production of Furnace Burners For Liquid Fuel in the Middle East

In value terms, liquid fuel furnace burner production reduced remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, saw buoyant growth. The growth pace was the most rapid in 2014 when the production volume increased by 178%. The level of production peaked at $X in 2020, and then fell sharply in the following year.

Exports of Furnace Burners For Liquid Fuel

Exports in the Middle East

In 2021, shipments abroad of furnace burners for liquid fuel decreased by -20.1% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 71% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, liquid fuel furnace burner exports expanded notably to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 57% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey dominates exports structure, amounting to X tons, which was approx. 86% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), making up a 5.4% share of total exports. The following exporters - Jordan (X tons), Lebanon (X tons) and Kuwait (X tons) - each amounted to a 6.1% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to liquid fuel furnace burner exports from Turkey stood at +4.8%. At the same time, Lebanon (+37.4%) and Kuwait (+20.9%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +37.4% from 2012-2021. Jordan experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-18.9%) illustrated a downward trend over the same period. Turkey (+29 p.p.) and Lebanon (+2 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -30.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest liquid fuel furnace burner supplier in the Middle East, comprising 74% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by Jordan, with a 5.7% share.

In Turkey, liquid fuel furnace burner exports increased at an average annual rate of +2.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-9.9% per year) and Jordan (+2.5% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, increasing by 39% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Jordan ($X per ton), while Turkey ($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 United Arab Emirates (+11.1%), while the other leaders experienced more modest paces of growth.

Imports of Furnace Burners For Liquid Fuel

Imports in the Middle East

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. Over the period under review, imports, however, saw a abrupt descent. The growth pace was the most rapid in 2018 when imports increased by 49%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, liquid fuel furnace burner imports surged to $X in 2021. Overall, imports, however, recorded a abrupt shrinkage. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Iraq (X tons) represented roughly 54% of total imports in 2021. Lebanon (X tons) held the next position in the ranking, followed by Jordan (X tons) and Turkey (X tons). All these countries together took approx. 34% share of total imports. Kuwait (X tons) and Iran (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 key importing countries, was attained by the United Arab Emirates (with a CAGR of +2.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest liquid fuel furnace burner importing markets in the Middle East were the United Arab Emirates ($X), Iraq ($X) and Lebanon ($X), together accounting for 64% of total imports.

Iraq, with a CAGR of +2.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, picking up by 2.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 32%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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