Metal Liquid Fuel Appliances Market

The global market for metal liquid fuel appliances is projected to experience a decline in both consumption and market value over the next eight years. Consumption of iron or steel liquid fuel domestic appliances fell significantly in 2022, contributing to an overall downward trend since 2014. The market size contracted to $252M in 2030, with an anticipated -5.8% CAGR in consumption and -4.1% CAGR in market value from 2022 to 2030. The United States, China, and India are the largest consumers and highest market value contributors. Despite some growth in production and exports, the overall market is facing challenges with shrinking demand worldwide.

Market Forecast

Depressed by shrinking demand for metal liquid fuel appliances worldwide, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -5.8% for the period from 2022 to 2030, which is projected to depress the market volume to 2.7M units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -4.1% for the period from 2022 to 2030, which is projected to bring the market value to $252M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Iron Or Steel Liquid Fuel Domestic Appliances

In 2022, the amount of iron or steel liquid fuel domestic appliances consumed worldwide fell markedly to 4.4M units, waning by -15.5% compared with 2021. Overall, consumption recorded a abrupt decrease. Global consumption peaked at 8.5M units in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

The global metal liquid fuel appliances market size contracted to $352M in 2022, declining by -13.5% 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). In general, consumption showed a deep reduction. Global consumption peaked at $767M in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (688K units), China (616K units) and India (441K units), with a combined 39% share of global consumption. The Netherlands, Germany, Taiwan (Chinese), Chile, France, Indonesia, Japan, Denmark, Russia and Belgium lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +19.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($44M), China ($25M) and India ($23M) appeared to be the countries with the highest levels of market value in 2022, with a combined 26% share of the global market. Chile, the Netherlands, France, Germany, Japan, Denmark, Belgium, Indonesia, Russia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 28%.

Among the main consuming countries, the Netherlands, with a CAGR of +16.4%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of metal liquid fuel appliances per capita consumption in 2022 were Denmark (15 units per 1000 persons), the Netherlands (14 units per 1000 persons) and Chile (7.9 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Denmark (with a CAGR of +18.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Iron Or Steel Liquid Fuel Domestic Appliances

In 2022, production of iron or steel liquid fuel domestic appliances increased by 2.2% to 4.9M units, rising for the second year in a row after seven years of decline. In general, production, however, showed a pronounced decline. The growth pace was the most rapid in 2013 when the production volume increased by 10%. As a result, production reached the peak volume of 7.9M units. From 2014 to 2022, global production growth failed to regain momentum.

In value terms, metal liquid fuel appliances production dropped slightly to $358M in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced curtailment. The pace of growth was the most pronounced in 2014 with an increase of 17%. As a result, production attained the peak level of $755M. From 2015 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (1.3M units), Belgium (838K units) and Japan (725K units), with a combined 58% share of global production. India, South Korea, Taiwan (Chinese), the Netherlands, Indonesia and Poland lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by the Netherlands (with a CAGR of +7.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Iron Or Steel Liquid Fuel Domestic Appliances

In 2022, the amount of iron or steel liquid fuel domestic appliances imported worldwide fell to 3.2M units, waning by -8.7% compared with the previous year. Overall, imports continue to indicate a perceptible contraction. The growth pace was the most rapid in 2021 with an increase of 85% against the previous year. Global imports peaked at 3.9M units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, metal liquid fuel appliances imports declined slightly to $251M in 2022. Over the period under review, total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 63%. As a result, imports attained the peak of $253M, leveling off in the following year.

Imports By Country

In 2022, the United States (679K units), distantly followed by Taiwan (Chinese) (260K units), the Netherlands (256K units), Germany (189K units), South Korea (159K units), Belgium (156K units), Chile (151K units) and France (148K units) were the major importers of iron or steel liquid fuel domestic appliances, together comprising 63% of total imports. Italy (97K units), Denmark (92K units), Russia (82K units), Iraq (68K units) and Canada (60K units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to metal liquid fuel appliances imports into the United States stood at -2.4%. At the same time, South Korea (+25.7%), Denmark (+16.5%), Taiwan (Chinese) (+14.3%), Russia (+12.5%), the Netherlands (+11.2%), Italy (+8.8%), Germany (+4.9%) and Belgium (+2.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +25.7% from 2012-2022. By contrast, France (-1.3%), Chile (-4.6%), Canada (-4.9%) and Iraq (-14.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Taiwan (Chinese), the Netherlands, South Korea, Germany, Denmark, Italy, Russia and Belgium increased by +6.5, +5.8, +4.6, +3, +2.4, +2, +1.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest metal liquid fuel appliances importing markets worldwide were the United States ($48M), Chile ($24M) and the Netherlands ($20M), with a combined 37% share of global imports. Iraq, South Korea, France, Belgium, Germany, Italy, Denmark, Canada, Taiwan (Chinese) and Russia lagged somewhat behind, together accounting for a further 37%.

In terms of the main importing countries, South Korea, with a CAGR of +29.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average metal liquid fuel appliances import price amounted to $79 per unit, increasing by 8.8% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2014 an increase of 36% against the previous year. Over the period under review, average import prices reached the maximum at $86 per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Iraq ($267 per unit), while Taiwan (Chinese) ($7.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (+14.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Iron Or Steel Liquid Fuel Domestic Appliances

In 2022, overseas shipments of iron or steel liquid fuel domestic appliances increased by 20% to 3.7M units, rising for the fourth year in a row after three years of decline. In general, exports showed a modest expansion. The most prominent rate of growth was recorded in 2015 with an increase of 68%. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, metal liquid fuel appliances exports surged to $203M in 2022. Overall, total exports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +92.9% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 49%. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports By Country

In 2022, Belgium (917K units), China (739K units), Japan (690K units) and South Korea (571K units) was the major exporter of iron or steel liquid fuel domestic appliances in the world, comprising 80% of total export. It was distantly followed by Taiwan (Chinese) (288K units), constituting a 7.9% share of total exports. The Netherlands (115K units) and Poland (60K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +26.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest metal liquid fuel appliances supplying countries worldwide were Japan ($50M), South Korea ($40M) and the Netherlands ($28M), together accounting for 58% of global exports. China, Poland, Belgium and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 25%.

Poland, with a CAGR of +18.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average metal liquid fuel appliances export price stood at $55 per unit in 2022, picking up by 7.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 78% against the previous year. As a result, the export price attained the peak level of $92 per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($246 per unit), while Taiwan (Chinese) ($5.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform