Malaysia: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Malaysia

The Malaysian non-electric industrial furnace market rose remarkably to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption continues to indicate a strong increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Non-Electric Industrial Furnace Production in Malaysia

In value terms, non-electric industrial furnace production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production saw a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Non-Electric Industrial Furnace Exports

Exports from Malaysia

In 2022, approx. X units of non-electric industrial or laboratory furnaces and ovens were exported from Malaysia; dropping by X% on 2021. Over the period under review, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-electric industrial furnace exports fell markedly to $X in 2022. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X units), the Philippines (X units) and Australia (X units) were the main destinations of non-electric industrial furnace exports from Malaysia, with a combined X% share of total exports. The United Arab Emirates, Brunei Darussalam, Cambodia, Singapore, Vietnam and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for non-electric industrial furnace exported from Malaysia were the Philippines ($X), Australia ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average non-electric industrial furnace export price stood at $X per unit in 2022, reducing by X% against the previous year. Over the period under review, the export price, however, saw a slight expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into Malaysia

In 2022, approx. X units of non-electric industrial or laboratory furnaces and ovens were imported into Malaysia; increasing by X% against 2021. In general, imports continue to indicate slight growth. The growth pace was the most rapid in 2013 when imports increased by X%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace imports skyrocketed to $X in 2022. Over the period under review, imports, however, saw a slight slump. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main non-electric industrial furnace supplier to Malaysia, with a X% share of total imports. It was followed by Japan (X units), with a X% share of total imports. Thailand (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

In value terms, China ($X) constituted the largest supplier of non-electric industrial or laboratory furnaces and ovens to Malaysia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Thailand (X% per year).

Import Prices by Country

The average non-electric industrial furnace import price stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the import price recorded a pronounced curtailment. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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