Western Africa: Market for Furnace Burners For Solid Fuel Or Gas 2022

Market Size for Furnace Burners For Solid Fuel Or Gas in Western Africa

In 2021, the West African solid fuel furnace burner market decreased by -68.4% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, recorded a buoyant expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Furnace Burners For Solid Fuel Or Gas in Western Africa

In value terms, solid fuel furnace burner production stood at $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.8% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 74% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports in Western Africa

Solid fuel furnace burner exports expanded modestly to X tons in 2021, picking up by 3% against the previous year. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 162%. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, solid fuel furnace burner exports dropped sharply to $X in 2021. In general, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2013 when exports increased by 251% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire was the major exporter of furnace burners for solid fuel or gas in Western Africa, with the volume of exports resulting at X tons, which was approx. 82% of total exports in 2021. It was distantly followed by Nigeria (X tons), making up a 17% share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the furnace burners for solid fuel or gas exports, with a CAGR of +49.6% from 2012 to 2021. At the same time, Nigeria (+37.7%) displayed positive paces of growth. Cote d'Ivoire (+75 p.p.) and Nigeria (+14 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest solid fuel furnace burner supplier in Western Africa, comprising 74% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire totaled +42.6%.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, with a decrease of -20% against the previous year. Over the period under review, the export price recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 when the export price increased by 34% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Cote d'Ivoire amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-0.3%).

Imports of Furnace Burners For Solid Fuel Or Gas

Imports in Western Africa

In 2021, purchases abroad of furnace burners for solid fuel or gas decreased by -83.3% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, saw significant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 619% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, solid fuel furnace burner imports fell remarkably to $X in 2021. Over the period under review, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of 245% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Nigeria (X tons) was the largest importer of furnace burners for solid fuel or gas, achieving 64% of total imports. It was distantly followed by Senegal (X tons), comprising a 29% share of total imports. Burkina Faso (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to solid fuel furnace burner imports into Nigeria stood at +36.4%. At the same time, Senegal (+39.9%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +39.9% from 2012-2021. Burkina Faso experienced a relatively flat trend pattern. Nigeria (+34 p.p.) and Senegal (+19 p.p.) significantly strengthened its position in terms of the total imports, while Burkina Faso saw its share reduced by -14.6% from 2012 to 2021, respectively.

In value terms, the largest solid fuel furnace burner importing markets in Western Africa were Nigeria ($X), Senegal ($X) and Burkina Faso ($X), together comprising 79% of total imports.

Among the main importing countries, Senegal, with a CAGR of +26.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, surging by 73% against the previous year. In general, the import price, however, continues to indicate a abrupt downturn. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Senegal ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Burkina Faso (-9.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :