Sri Lanka: Furnace Burner Market 2024

Furnace Burner Market Size in Sri Lanka

The Sri Lankan furnace burner market surged to $X in 2021, jumping by 25% 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). Overall, consumption, however, saw a noticeable decrease. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Furnace Burner Exports

Exports from Sri Lanka

In 2021, approx. X kg of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers were exported from Sri Lanka; rising by 224% compared with the year before. Overall, exports recorded a noticeable expansion. The exports peaked at X kg in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, furnace burner exports soared to $X in 2021. Over the period under review, exports posted a mild expansion. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X kg) was the main destination for furnace burner exports from Sri Lanka, with a 88% share of total exports. Moreover, furnace burner exports to Malaysia exceeded the volume sent to the second major destination, Maldives (X kg), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia stood at +971.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-17.3% per year) and India (-39.5% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers exports from Sri Lanka, comprising 90% of total exports. The second position in the ranking was held by Maldives ($X), with a 7.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Malaysia amounted to +2,574.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (-20.5% per year) and India (-45.4% per year).

Export Prices by Country

In 2021, the average furnace burner export price amounted to $X per ton, surging by 158% against the previous year. In general, the export price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 184% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+149.7%), while the prices for the other major destinations experienced a decline.

Furnace Burner Imports

Imports into Sri Lanka

In 2021, imports of furnace burners, mechanical stokers, mechanical grates and mechanical ash dischargers into Sri Lanka rose sharply to X tons, increasing by 12% compared with the previous year. Over the period under review, imports, however, showed a perceptible contraction. The growth pace was the most rapid in 2016 when imports increased by 532% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, furnace burner imports surged to $X in 2021. In general, imports, however, saw a slight downturn. The pace of growth was the most pronounced in 2016 when imports increased by 471%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of furnace burner to Sri Lanka, accounting for a 39% share of total imports. Moreover, furnace burner imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+21.7% per year) and Thailand (+17.3% per year).

In value terms, Thailand ($X), China ($X) and South Korea ($X) constituted the largest furnace burner suppliers to Sri Lanka, together accounting for 51% of total imports. Malaysia, India, Singapore, Germany, Israel and the United Arab Emirates lagged somewhat behind, together comprising a further 21%.

Among the main suppliers, Malaysia, with a CAGR of +16.7%, saw the highest growth rate of 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 average furnace burner import price amounted to $X per ton, growing by 30% against the previous year. In general, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the average import price increased by 39%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :