Western Africa: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Western Africa

In 2021, the West African liquid fuel furnace burner market decreased by -50.3% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

Production of Furnace Burners For Liquid Fuel in Western Africa

In value terms, liquid fuel furnace burner production declined remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 82%. As a result, production attained the peak level of $X, and then shrank notably in the following year.

Exports of Furnace Burners For Liquid Fuel

Exports in Western Africa

Liquid fuel furnace burner exports surged to X tons in 2021, rising by 1,620% against 2020. Overall, exports continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, liquid fuel furnace burner exports soared to $X in 2021. In general, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Niger dominates exports structure, finishing at X tons, which was near 89% of total exports in 2021. It was distantly followed by Togo (X tons), constituting a 9.7% share of total exports.

Niger was also the fastest-growing in terms of the furnace burners for liquid fuel exports, with a CAGR of +118.1% from 2012 to 2021. At the same time, Togo (+43.1%) displayed positive paces of growth. While the share of Niger (+89 p.p.) and Togo (+4.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) emerged as the largest liquid fuel furnace burner supplier in Western Africa, comprising 73% of total exports. The second position in the ranking was held by Togo ($X), with a 26% share of total exports.

In Niger, liquid fuel furnace burner exports increased at an average annual rate of +98.6% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, falling by -64.2% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 308%. Over the period under review, the export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Togo ($X per ton), while Niger amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+0.6%).

Imports of Furnace Burners For Liquid Fuel

Imports in Western Africa

In 2021, after three years of growth, there was significant decline in purchases abroad of furnace burners for liquid fuel, when their volume decreased by -86.7% to X tons. In general, imports, however, posted a noticeable increase. The most prominent rate of growth was recorded in 2015 when imports increased by 255% against the previous year. The volume of import peaked at X tons in 2020, and then reduced dramatically in the following year.

In value terms, liquid fuel furnace burner imports shrank notably to $X in 2021. Over the period under review, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2015 with an increase of 207%. The level of import peaked at $X in 2020, and then shrank markedly in the following year.

Imports by Country

Nigeria prevails in imports structure, amounting to X tons, which was near 67% of total imports in 2021. Mauritania (X tons) held an 8% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (6%) and Senegal (5.3%). Niger (X tons), Togo (X tons) and Mali (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to liquid fuel furnace burner imports into Nigeria stood at +5.8%. At the same time, Mauritania (+46.2%), Niger (+27.4%), Mali (+18.3%) and Senegal (+5.8%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +46.2% from 2012-2021. By contrast, Ghana (-1.8%) and Togo (-13.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Mauritania and Niger increased by +9.2, +7.7 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported furnace burners for liquid fuel in Western Africa, comprising 75% of total imports. The second position in the ranking was held by Senegal ($X), with a 6.8% share of total imports. It was followed by Ghana, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at +22.8%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+9.8% per year) and Ghana (+0.1% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, declining by -9.3% against the previous year. Over the period under review, the import price, however, showed resilient growth. The pace of growth was the most pronounced in 2016 an increase of 60% against the previous year. The level of import peaked at $X per ton in 2020, and then contracted in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+16.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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