Asia: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Asia

The Asian non-electric industrial furnace market soared to $X in 2023, jumping by X% against the previous year. In general, consumption, however, recorded a slight reduction. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Non-Electric Industrial Furnace Production in Asia

In value terms, non-electric industrial furnace production totaled $X in 2023 estimated in export price. Over the period under review, production, however, saw a perceptible contraction. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Non-Electric Industrial Furnace Exports

Exports in Asia

In 2023, after two years of growth, there was significant decline in shipments abroad of non-electric industrial or laboratory furnaces and ovens, when their volume decreased by X% to X units. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, non-electric industrial furnace exports shrank to $X in 2023. Total exports indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

China prevails in exports structure, finishing at X units, which was near X% of total exports in 2023. It was distantly followed by India (X units), making up a X% share of total exports. The following exporters - Japan (X units), the United Arab Emirates (X units) and Thailand (X units) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to non-electric industrial furnace exports from China stood at X%. At the same time, Thailand (X%) and India (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%) and Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China and India increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest non-electric industrial furnace supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2023, growing by X% against the previous year. In general, the export price recorded a perceptible expansion. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Non-Electric Industrial Furnace Imports

Imports in Asia

For the third year in a row, Asia recorded growth in supplies from abroad of non-electric industrial or laboratory furnaces and ovens, which increased by X% to X units in 2023. Over the period under review, imports continue to indicate a mild increase. 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 skyrocketed to $X in 2023. Total imports indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore was the major importing country with an import of about X units, which finished at X% of total imports. Malaysia (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by India (X%), the Philippines (X%) and Thailand (X%). The following importers - Pakistan (X units) and Indonesia (X units) - each finished at a X% share of total imports.

Imports into Singapore increased at an average annual rate of X% from 2012 to 2023. At the same time, the Philippines (X%), Malaysia (X%), India (X%), Pakistan (X%) and Thailand (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. By contrast, Indonesia (X%) illustrated a downward trend over the same period. While the share of Singapore (X p.p.), Malaysia (X p.p.), the Philippines (X p.p.), India (X p.p.), Thailand (X p.p.) and Pakistan (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Indonesia (X p.p.) displayed negative dynamics.

In value terms, Indonesia ($X), India ($X) and Thailand ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Malaysia, the Philippines, Singapore and Pakistan lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per unit, falling by X% against the previous year. Overall, the import price, however, saw a moderate increase. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform