South-Eastern Asia: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in South-Eastern Asia

The Southeast Asian non-electric industrial furnace market soared to $X in 2022, with an increase of 135% against the previous year. Overall, consumption recorded a strong increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Non-Electric Industrial Furnace Production in South-Eastern Asia

In value terms, non-electric industrial furnace production stood at $X in 2022 estimated in export price. Overall, production, however, showed a deep slump. The pace of growth was the most pronounced in 2018 when the production volume increased by 177% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Non-Electric Industrial Furnace Exports

Exports in South-Eastern Asia

In 2022, non-electric industrial furnace exports in South-Eastern Asia was estimated at X units, surging by 5.6% against the previous year. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 30% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, non-electric industrial furnace exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 28%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X units) and Vietnam (X units) were the major exporters of non-electric industrial or laboratory furnaces and ovens in 2022, amounting to near 34% and 30% of total exports, respectively. Malaysia (X units) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by the Philippines (11%) and Thailand (9.7%). Indonesia (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Philippines (with a CAGR of +28.4%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 80% share of total exports. These countries were followed by the Philippines, Malaysia and Indonesia, which together accounted for a further 20%.

Among the main exporting countries, the Philippines, 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

In 2022, the export price in South-Eastern Asia amounted to $X per unit, increasing by 7.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2020 an increase of 33%. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+11.3%), while the other leaders experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports in South-Eastern Asia

Non-electric industrial furnace imports surged to X units in 2022, rising by 186% on 2021 figures. Over the period under review, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-electric industrial furnace imports surged to $X in 2022. Overall, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Indonesia (X units) represented the major importer of non-electric industrial or laboratory furnaces and ovens in South-Eastern Asia, creating 97% of total import.

Indonesia was also the fastest-growing in terms of the non-electric industrial or laboratory furnaces and ovens imports, with a CAGR of +44.3% from 2012 to 2022. From 2012 to 2022, the share of Indonesia increased by +49 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported non-electric industrial or laboratory furnaces and ovens in South-Eastern Asia.

In Indonesia, non-electric industrial furnace imports expanded at an average annual rate of +34.7% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, declining by -14.2% against the previous year. Overall, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 an increase of 27% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Indonesia.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to -6.7% per year.

Source: IndexBox Platform

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