Thailand Fertilizers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 6.10 Million |
| Market Size (2029) | USD 6.80 Million |
| CAGR (2024 - 2029) | 2.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thailand Fertilizers Market Analysis
The Thailand Fertilizers Market size is estimated at USD 6.10 million in 2024, and is expected to reach USD 6.80 million by 2029, at a CAGR of 2.20% during the forecast period (2024-2029).
The Thailand fertilizer market is growing due to the growing need to improve agricultural productivity to meet the growing food demand. Major crops such as corn, maize, sugarcane, and rice require substantial nutrient inputs, driving fertilizer demand. Nitrogenous fertilizers dominate the Thai market, primarily due to nitrogen-deficient soils and widespread rice cultivation. Urea is the most commonly used fertilizer. Despite an expanding area under organic cultivation, farmers prefer synthetic or chemical fertilizers due to challenges associated with biofertilizers and organic alternatives.
Government support through fertilizer subsidies and soft loans has significantly influenced market dynamics. In 2024, a new fertilizer subsidy scheme replaced the previous farmers' allowance program, which provided cash support of USD 29.7 per rai (up to 20 rai or 3.2 hectares). The government allocated USD 1.7 billion to this program in the previous year. This increased support is expected to drive fertilizer consumption and enhance farm productivity in the coming years.
Thailand Fertilizers Market Trends
Need for Increasing Agricultural Productivity
Thailand's agricultural productivity has declined in recent years, despite stable agricultural land area. FAOSTAT data indicates a decrease in pulses yield from 953.2 kg/ha in 2021 to 952.4 kg/ha in 2022. This reduction in agricultural yield is likely to increase the adoption of various agricultural products and technologies, including fertilizers.
The Northeastern region of Thailand has the largest number of farm holdings. This area faces several agricultural challenges, including poor-quality soil, seasonal rainfall variability, and scarcity of surface water. These factors have made fertilizer application essential for achieving higher productivity gains in the region.
The Thai government has supported farmers by providing subsidies on farm inputs to boost agricultural production in the country. For example, the government introduced new stimulus measures for Thai farmers in the form of subsidized fertilizers. This measure was implemented through the state welfare smartcard, providing the subsidy directly to cardholders. These government initiatives, combined with efforts to increase agricultural production, are expected to drive the demand for fertilizers in Thailand during the forecast period.
Growing Demand for Nitrogenous Fertilizers
Fertilizer usage is essential for Thailand's agricultural sector, driven by decreasing arable land and the increasing significance of agricultural exports to the economy.
Thailand's soil is predominantly nitrogen-deficient, largely due to extensive rice cultivation. As a result, nitrogenous fertilizers, particularly urea, are the most commonly used. Ammonium sulfate (AS) ranks as the second most widely used nitrogenous fertilizer in Thailand after urea. AS provides essential nitrogen (N) and sulfur (S) nutrients for plants, offering agronomic and environmental advantages such as reduced toxicity (aqueous NH3) and decreased N loss through NH3 volatilization compared to other N fertilizers.
Nitrogen fertilizers are extensively applied to major crops in Thailand, including corn, cassava, and sugarcane. Urea remains the most imported fertilizer due to its widespread use. Chia Tai has a strong presence in the single-nutrient urea market, benefiting from access to high-quality urea from Russia. According to the International Fertilizer Association (IFA), urea consumption in Thailand reached 926 thousand metric tons in 2022. The demand for nitrogen fertilizers in the country is projected to increase during the forecast period due to increasing the need for fertilizers that promote faster growth and higher yields.
Thailand Fertilizers Industry Overview
Thailand Fertilizer market is consolidated, with players such as Yara (Thailand) Company Limited, Haifa, Chai Thai Co. Ltd, Thai Central Chemical Public Company Limited, and Saksiam Group. being some of the active players in the market. Mergers and acquisitions, partnerships, expansion, and product launches are some of the most adopted business strategies by these active players.
Thailand Fertilizers Market Leaders
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Yara (Thailand) Company Limited
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Thai Central Chemical Public Company Limited
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SAKSIAM GROUP
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Chai Tai Group
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Haifa Group
*Disclaimer: Major Players sorted in no particular order
Thailand Fertilizers Market News
- August 2024: Sojitz Corporation has established Sojitz Kaset Dee X Co., Ltd. (KDX) as an agricultural platform subsidiary in Thailand. Through KDX, Sojitz will enter the agricultural platform business, planning to initiate the supply and sale of farming services to cassava farmers in fall 2024. Sojitz aims to enhance farming efficiency and sustainability, ultimately increasing farmer prosperity through the development of KDX's farming services.
- June 2024: The Thai government is implementing a co-payment scheme to support fertilizer costs for more than 4 million rice-farming households. This initiative will be accessible to farmers through the Bank for Agriculture and Agricultural Cooperatives mobile app. To address concerns about price volatility, fertilizer suppliers will be invited to participate in standardizing prices.
Thailand Fertilizers Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Government Initiatives and Support
4.2.2 Declining Agricultural Productivity and Regional Challenges
4.2.3 Rising Food Demand
4.3 Market Restraints
4.3.1 Climate Change and Natural Disasters
4.3.2 Shift Towards Organic Farming
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Product
5.1.1 Nitrogenous Fertilizers
5.1.1.1 Urea
5.1.1.2 Calcium Ammonium Nitrate (CAN)
5.1.1.3 Ammonium Nitrate
5.1.1.4 Ammonium Sulfate
5.1.1.5 Anhydrous Ammonia
5.1.1.6 Other Nitrogenous Fertilizers
5.1.2 Phosphatic Fertilizers
5.1.2.1 Mono-Ammonium Phosphate (MAP)
5.1.2.2 Di-Ammonium Phosphate (DAP)
5.1.2.3 Triple Superphosphate (TSP)
5.1.2.4 Other Phosphatic Fertilizers
5.1.3 Potash Fertilizers
5.1.4 Micronutrient Fertilizers
5.1.5 Other Products
5.2 Application
5.2.1 Grains and Cereals
5.2.2 Pulses and Oilseeds
5.2.3 Commerical Crops
5.2.4 Fruits and Vegetables
5.2.5 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Yara International ASA
6.3.2 NFC Public Company Limited
6.3.3 Chai Thai Co. Ltd
6.3.4 Thai Central Chemical Public Company Limited
6.3.5 Haifa Group
6.3.6 SAKSIAM GROUP
6.3.7 ICL Group Ltd
6.3.8 Rayong Fertilizer Trading Company Limited (UBE Group)
6.3.9 Grupa Azoty S.A. (Compo Expert)
6.3.10 ICP FERTILIZER COMPANY
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Thailand Fertilizers Industry Segmentation
According to OECD, chemical fertilizers are commercially produced, usually synthetic, chemical compounds, such as nitrogen, phosphorus, and potassium, as well as a variety of micronutrients and additives used in farming. The Thailand fertilizers market is segmented by product (nitrogenous fertilizers, phosphatic fertilizers, potassic fertilizers, micronutrients fertilizers, and other products), and application (grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and other applications). The report offers the market size and forecasts in terms of volume in metric tons and value in USD for all the above segments.
| Product | ||||||||
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| Potash Fertilizers | ||||||||
| Micronutrient Fertilizers | ||||||||
| Other Products |
| Application | |
| Grains and Cereals | |
| Pulses and Oilseeds | |
| Commerical Crops | |
| Fruits and Vegetables | |
| Other Applications |
Thailand Fertilizers Market Research Faqs
How big is the Thailand Fertilizers Market?
The Thailand Fertilizers Market size is expected to reach USD 6.10 million in 2024 and grow at a CAGR of 2.20% to reach USD 6.80 million by 2029.
What is the current Thailand Fertilizers Market size?
In 2024, the Thailand Fertilizers Market size is expected to reach USD 6.10 million.
Who are the key players in Thailand Fertilizers Market?
Yara (Thailand) Company Limited, Thai Central Chemical Public Company Limited, SAKSIAM GROUP, Chai Tai Group and Haifa Group are the major companies operating in the Thailand Fertilizers Market.
What years does this Thailand Fertilizers Market cover, and what was the market size in 2023?
In 2023, the Thailand Fertilizers Market size was estimated at USD 5.97 million. The report covers the Thailand Fertilizers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Fertilizers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thailand Fertilizers Industry Report
The Thailand Fertilizer Manufacturers Companies report provides a comprehensive market overview, including insights into various product segments such as nitrogenous fertilizers, phosphatic fertilizers, potassic fertilizers, micronutrients fertilizers, and other products. The market segmentation covers applications like grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and other applications. This industry analysis offers a detailed market forecast and market growth outlook, highlighting the market leaders and market value.
The report also includes industry information, industry trends, and industry statistics to provide a thorough market review. With industry research and market data, it evaluates the market size and market predictions, ensuring a comprehensive understanding of the market dynamics. The industry reports and report examples offer valuable insights into the market segmentation and market overview.
Additionally, the report provides a market outlook and market forecast, offering an in-depth market analysis. The industry outlook and industry size are discussed, along with the industry sales and market growth rate. The report pdf and research companies provide a detailed industry profile and market predictions, ensuring a complete market review. This report is an essential resource for understanding the market trends and market value in the Thailand Fertilizer Manufacturers Companies sector.
Thailand Fertilizers Market Report Snapshots
