Philippines: Market for Furnace Burners For Liquid Fuel 2025

Market Size for Furnace Burners For Liquid Fuel in the Philippines

The Philippine liquid fuel furnace burner market reduced dramatically to $X in 2021, dropping by -33.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded strong growth. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Exports of Furnace Burners For Liquid Fuel

Exports from the Philippines

For the fourth year in a row, the Philippines recorded growth in overseas shipments of furnace burners for liquid fuel, which increased by 7.7% to X kg in 2021. Over the period under review, exports showed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 504% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, liquid fuel furnace burner exports surged to $X in 2021. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of 995% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X kg) was the main destination for liquid fuel furnace burner exports from the Philippines, accounting for a 72% share of total exports. Moreover, liquid fuel furnace burner exports to Singapore exceeded the volume sent to the second major destination, Palau (X kg), threefold.

From 2012 to 2021, the average annual growth rate of volume to Singapore amounted to +27.9%.

In value terms, Singapore ($X) remains the key foreign market for furnace burners for liquid fuel exports from the Philippines, comprising 97% of total exports. The second position in the ranking was held by Palau ($X), with a 2.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Singapore amounted to +28.0%.

Export Prices by Country

In 2021, the average liquid fuel furnace burner export price amounted to $X per ton, increasing by 12% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2016 when the average export price increased by 81%. As a result, the export price reached the peak level of $X per ton. From 2017 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 Singapore ($X per ton), while the average price for exports to Palau stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+0.0%).

Imports of Furnace Burners For Liquid Fuel

Imports into the Philippines

In 2021, approx. X tons of furnace burners for liquid fuel were imported into the Philippines; reducing by -31.6% against the previous year. Overall, imports, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 1,217%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, liquid fuel furnace burner imports shrank notably to $X in 2021. Over the period under review, imports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2015 with an increase of 591%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest liquid fuel furnace burner supplier to the Philippines, accounting for a 56% share of total imports. Moreover, liquid fuel furnace burner imports from Germany exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The third position in this ranking was held by Singapore (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +23.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+33.6% per year) and Singapore (+27.2% per year).

In value terms, Germany ($X) constituted the largest supplier of furnace burners for liquid fuel to the Philippines, comprising 48% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.8% share of total imports. It was followed by Singapore, with a 9% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +16.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+61.6% per year) and Singapore (+33.1% per year).

Import Prices by Country

The average liquid fuel furnace burner import price stood at $X per ton in 2021, shrinking by -6.4% against the previous year. In general, the import price, however, saw a strong increase. The pace of growth was the most pronounced in 2016 when the average import price increased by 245% against the previous year. The import price peaked at $X per ton in 2020, and then shrank in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Thailand ($X per ton) and China ($X per ton), while the price for South Korea ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+37.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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