Thailand Fertilizers Market
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Thailand Fertilizers Market, By Form (Dry, Liquid); By Product (Organic (Plant-based, Animal-based, Mineral-based), Inorganic (Nitrogen (Urea, Anhydrous Ammonia, CAN (Calcium Ammonium Nitrate), W UAN Solution (Water Urea Ammonium Nitrate Solution), Ammonium Sulfate), Phosphorus (Diammonium Phosphate, Monoammonium Phosphate, Triple Superphosphate, Ordinary Superphosphate, Ammonium Polyphosphate), Potassium (Potassium Chloride, Potassium Sulfate, Potassium Nitrate)); By Application (Agriculture, Horticulture, Gardening), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: May 2024
- Report ID: BWC24350
- Available Format: PDF
- Page: 200
Report Overview
A spurring demand for organic and inorganic fertilizers from the agriculture sector, government initiatives promoting organic fertilizer usage, technological advancements, growing awareness about soil health, and increasing adoption of organic farming practices are key driving factors of Thailand Fertilizers Market during the forecast period between 2024 and 2030.Thailand Fertilizers Market – Industry Trends & Forecast Report, 2030
Thailand Fertilizers Market size by value was estimated at USD 4.62 billion in 2023. During the forecast period between 2024 and 2030, the Thailand Fertilizers Market size is expected to expand at a CAGR of 7.65% reaching a value of USD 7.33 billion by 2030. Thailand Fertilizers Market is influenced by several key driving factors that shape its growth and dynamics. The agriculture sector's performance significantly impacts the demand for fertilizers. As one of the leading industries in Thailand, agriculture relies heavily on fertilizers to enhance crop yields and maintain soil fertility. Factors such as government policies, weather conditions, and global market trends can influence the agricultural sector's productivity and, consequently, the demand for fertilizers. Additionally, the increasing adoption of modern agricultural practices and technologies, including precision farming and controlled-release fertilizers, drives the demand for specialized fertilizers tailored to specific crops and soil types. This trend reflects a broader shift towards sustainable and efficient farming methods, further bolstering the growth of the Fertilizers Market in Thailand.
By volume, the Thailand Fertilizers Market size was estimated at 3.21 million tons in 2023. During the forecast period between 2024 and 2030, the Thailand Fertilizers Market size is projected to grow at a CAGR of 7.18% reaching a volume of 3.78 million tons by 2030. Demographic trends and population growth play a crucial role in driving fertilizer demand. With a growing population and increasing urbanization, there is a rising need to boost agricultural productivity to ensure food security. As a result, farmers are increasingly turning to fertilizers to maximize crop yields and meet the growing demand for food. Moreover, changing dietary preferences and the shift towards higher-value crops, such as fruits and vegetables, further stimulate the demand for fertilizers. To cater to these evolving consumption patterns, fertilizer manufacturers in Thailand are innovating and diversifying their product offerings to provide solutions tailored to the needs of different crops and farming systems, thereby driving the growth of the fertilizers market.
Fertilizers – Overview
Fertilizers are substances applied to soil or plants to enhance growth and productivity by supplying essential nutrients. They typically contain nitrogen, phosphorus, and potassium, vital for plant development. Fertilizers can be organic, derived from natural sources like manure, or synthetic, manufactured through chemical processes. They play a crucial role in modern agriculture, compensating for nutrient depletion caused by intensive farming. However, improper use can lead to environmental pollution, soil degradation, and water contamination. Sustainable farming practices aim to optimize fertilizer use, balancing crop needs with environmental stewardship. Innovations in fertilizer technology strive to improve efficiency and minimize ecological impacts.
Thailand Fertilizers Market
Growth Drivers
Innovative Solutions Propel Thailand Fertilizers
Amidst Thailand's drive for agricultural advancement, the fertilizers market witnesses a surge propelled by increasing agricultural productivity. Innovations in fertilizer technology, such as precision agriculture techniques and eco-friendly formulations, are empowering farmers to optimize yields sustainably. Collaborations between research institutions and industry players further enhance product effectiveness and tailor solutions to local soil conditions. Government initiatives promoting modern farming practices and subsidies for fertilizer adoption contribute to market expansion. With a growing focus on food security and export competitiveness, the demand for fertilizers continues to rise, driving dynamic growth in Thailand's agricultural sector.
Challenges
Fluctuating Raw Material Prices
As raw material prices in Thailand's fertilizers market continue to oscillate, industry players face a pressing challenge. Volatility in costs impacts production margins and pricing strategies, necessitating proactive measures. Stakeholders must adopt agile procurement practices, exploring alternative sourcing options and hedging strategies to mitigate risks. Collaborative partnerships along the supply chain can enhance resilience, fostering stability amidst fluctuating market conditions. Additionally, investments in technology and innovation can optimize resource utilization and minimize dependency on volatile inputs. Amidst uncertainties, strategic planning and adaptability emerge as indispensable tools for sustaining competitiveness in Thailand's fertilizers sector.
Impact of Escalating Geopolitical Tensions on Thailand Fertilizers Market
Escalating geopolitical tensions can significantly impact the Thailand fertilizers market due to its reliance on imports for raw materials like phosphate and potash. Trade disruptions and increased tariffs amid geopolitical conflicts can elevate production costs, affecting domestic fertilizer prices. For instance, if major fertilizer-producing countries are involved in conflicts, supply chains may be disrupted, leading to shortages and price spikes. Moreover, diplomatic strains can hamper international cooperation and agreements essential for fertilizer trade, further straining the market. In recent years, tensions in regions like the Middle East and Eastern Europe have intermittently disrupted global fertilizer supply chains, affecting prices worldwide. Consequently, Thailand Fertilizers Market could face volatility, supply uncertainties, and cost pressures, impacting farmers' input costs and agricultural productivity.
Thailand Fertilizers Market
Segmental Coverage
Thailand Fertilizers Market – By Form
Based on form, Thailand Fertilizers Market is divided into Dry and Liquid segments. The dry segment is larger form in the Thailand Fertilizers Market. Dry fertilizers encompass a range of granular, powdered, or pelleted products, offering ease of storage, transportation, and application. They are widely used in various agricultural practices due to their convenience and versatility. The popularity of dry fertilizers often stems from their stability and longer shelf life compared to liquid alternatives. The segment dominates the market due to its widespread application across diverse agricultural sectors, contributing significantly to Thailand's agricultural productivity and sustainability efforts.
Thailand Fertilizers Market – By Product
Based on product, Thailand Fertilizers Market is divided into Organic and Inorganic segments. The organic segment is further classified into (Plant-based, Animal-based, and Mineral-based). The inorganic segment is further sub-segmented into (Nitrogen (Urea, Anhydrous ammonia, CAN (Calcium Ammonium Nitrate), W UAN Solution (Water Urea Ammonium Nitrate Solution), Ammonium sulfate), Phosphorus (Diammonium phosphate, Monoammonium phosphate, Triple superphosphate, Ordinary superphosphate, Ammonium polyphosphate), Potassium (Potassium chloride, Potassium sulfate, Potassium nitrate) segments.
The inorganic segment is the largest in the Thailand Fertilizers Market, which is further subdivided into several categories. The Nitrogen subsegment stands out as the largest, comprising products such as Urea, Anhydrous ammonia, CAN (Calcium Ammonium Nitrate), W UAN Solution (Water Urea Ammonium Nitrate Solution), and Ammonium sulfate. The segment reflects the significant demand for nitrogen-based fertilizers in Thailand's agricultural sector, supporting crop growth and productivity.
Thailand Fertilizers Market – By Application
Based on application, Thailand Fertilizers Market is divided into Agriculture, Horticulture, and Gardening segments. The agriculture segment is the largest application in the Thailand Fertilizers Market. The segment encompasses a wide range of crops, including rice, sugarcane, and rubber, which are vital to Thailand's economy. Fertilizers play a crucial role in enhancing crop yield and quality in agricultural practices. With Thailand being a major exporter of agricultural products, the demand for fertilizers in the segment remains substantial. Moreover, the government's initiatives to promote sustainable agriculture further drive the usage of fertilizers in the sector, solidifying agriculture as the dominant segment in the Thailand Fertilizers Market.
Competitive Landscape
Major players in the Thailand Fertilizers Market include Haifa Group, Yara International, EuroChem, Saksiam Group, Thai Central Chemical Public Company Limited, COMPO EXPERT, Coromandel International Ltd, Mosaic, and Nutrien. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
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In 2020 - Yara Thailand Company Limited, in collaboration with DTAC, a telecommunication service provider, launched an app called 'Kaset Go,' which educates farmers on using modern technologies to increase crop yield. The innovation may boost the sale of the Yara fertilizers as the farmers begin to gain more knowledge.
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In 2020 - Yara Thailand Company Limited also launched a new granular fertilizer product for water systems in Thailand. The product was launched as a premium product targeting the greenhouse and farms using fertigation systems.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
By Value - USD Billion |
By Volume - Million Tons |
|
Market Coverage |
Thailand |
Product/Service Segmentation |
Form, Product, Application |
Key Players |
Haifa Group, Yara International, EuroChem, Saksiam Group, Thai Central Chemical Public Company Limited, COMPO EXPERT, Coromandel International Ltd, Mosaic, Nutrien |
By Form
- Dry
- Liquid
By Product
- Organic
- Plant-based
- Animal-based
- Mineral-based
- Inorganic
1. Nitrogen
- Urea
- Anhydrous ammonia
- CAN (Calcium Ammonium Nitrate)
- W UAN Solution (Water Urea Ammonium Nitrate Solution)
- Ammonium sulfate
2. Phosphorus
- Diammonium phosphate
- Monoammonium phosphate
- Triple superphosphate
- Ordinary superphosphate
- Ammonium polyphosphate
3. Potassium
- Potassium chloride
- Potassium sulfate
- Potassium nitrate
By Application
- Agriculture
- Horticulture
- Gardening
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Thailand Fertilizers Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Increasing agricultural productivity
- Adoption of new technologies
- Government initiatives
- Restraints
- Fluctuating raw material prices
- Environmental concerns
- Logistics disruptions
- Opportunities
- Specialty fertilizers
- Popularity of organic fertilizers
- E-commerce for fertilizers
- Challenges
- Competition
- Educating farmers on best practices
- Climate change impacts
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Thailand Fertilizers Market: Marketing Strategies
- Thailand Fertilizers Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- By Volume (Million Tons)
- Market Share & Forecast
- By Form
- Dry
- Liquid
- By Product
- Organic
- Plant-based
- Animal-based
- Mineral-based
- Inorganic
- Nitrogen
- Urea
- Anhydrous ammonia
- CAN (Calcium Ammonium Nitrate)
- W UAN Solution (Water Urea Ammonium Nitrate Solution)
- Ammonium sulfate
- Phosphorus
- Diammonium phosphate
- Monoammonium phosphate
- Triple superphosphate
- Ordinary superphosphate
- Ammonium polyphosphate
- Potassium
- Potassium chloride
- Potassium sulfate
- Potassium nitrate
- Others
- Nitrogen
- Organic
- By Application
- Agriculture
- Horticulture
- Gardening
- Others
- By Form
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- Thailand Fertilizers Company Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Thailand Fertilizers Market: Import & Export
- Impact of Escalating Geopolitical Tensions on Thailand Fertilizers Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- Haifa Group
- Yara International
- EuroChem
- Saksiam Group
- Thai Central Chemical Public Company Limited
- COMPO EXPERT
- Coromandel International Ltd
- Mosaic
- Nutrien
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Region
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 Thailand Fertilizers Segmentation
Figure 2 Thailand Fertilizers Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 Thailand Fertilizers Market Share, By Form, By Value (USD Million), 2019–2030
Figure 5 Thailand Fertilizers Market Share, By Form, By Volume (Million Tons), 2019–2030
Figure 6 Thailand Fertilizers Market Share, By Product, By Value, 2019–2030 Figure 7 Thailand Fertilizers Market Share, By Product, By Volume (Million Tons), 2019–2030
Figure 8 Thailand Fertilizers Market Share, By Application, By Value, 2019–2030
Figure 9 Thailand Fertilizers Market Share, By Application, By Volume (Million Tons), 2019–2030
List of Tables
Table 1 Thailand Fertilizers Market Share, By Form, By Value (USD Million), 2019–2030
Table 2 Thailand Fertilizers Market Share, By Form, By Volume (Million Tons), 2019–2030
Table 3 Thailand Fertilizers Market Share, By Product, By Value, 2019–2030 Table 4 Thailand Fertilizers Market Share, By Product, By Volume (Million Tons), 2019–2030
Table 5 Thailand Fertilizers Market Share, By Application, By Value, 2019–2030
Table 6 Thailand Fertilizers Market Share, By Application, By Volume (Million Tons), 2019–2030
Table 7 Haifa Group Company Overview
Table 8 Haifa Group Company Overview
Table 9 Yara International Company Overview
Table 10 Yara International Company Overview
Table 11 EuroChem Company Overview
Table 12 EuroChem Company Overview
Table 13 Saksiam Group Company Overview
Table 14 Saksiam Group Company Overview
Table 15 Thai Central Chemical Public Company Limited Company Overview
Table 16 Thai Central Chemical Public Company Limited Company Overview
Table 17 COMPO EXPERT Company Overview
Table 18 COMPO EXPERT Company Overview
Table 19 Coromandel International Ltd Company Overview
Table 20 Coromandel International Ltd Company Overview
Table 21 Mosaic Company Overview
Table 22 Mosaic Company Overview
Table 23 Nutrien Company Overview
Table 24 Nutrien Company Overview
Table 25 Other Prominent Players Company Overview
Table 26 Other Prominent Players Company Overview
Market Segmentation
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