logo

Thailand Fertilizers Market Size (2024 - 2029)

The Thailand fertilizers market is projected to experience significant growth over the forecast period, driven by factors such as the increasing adoption of new technologies by farmers, rising agricultural productivity, and a growing population. The market's expansion is further supported by government initiatives providing subsidies and financial assistance to farmers, which have led to higher fertilizer consumption to boost farm productivity. Despite challenges posed by the COVID-19 pandemic, including logistics constraints and price fluctuations, the demand for nitrogenous fertilizers remains high due to soil nitrogen deficiencies, particularly in rice-dominant areas.

Home Market Analysis Agriculture Research Fertilizers Research Thailand Fertilizers Market Market Size

Market Size of Thailand Fertilizers Industry

Thailand Fertilizers Market Summary
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

Thailand Fertilizers Market 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 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
Nitrogenous Fertilizers
Urea
Calcium Ammonium Nitrate (CAN)
Ammonium Nitrate
Ammonium Sulfate
Anhydrous Ammonia
Other Nitrogenous Fertilizers
Phosphatic Fertilizers
Mono-Ammonium Phosphate (MAP)
Di-Ammonium Phosphate (DAP)
Triple Superphosphate (TSP)
Other Phosphatic Fertilizers
Potash Fertilizers
Micronutrient Fertilizers
Other Products
Application
Grains and Cereals
Pulses and Oilseeds
Commerical Crops
Fruits and Vegetables
Other Applications
Need A Different Region Or Segment?
Customize Now

Thailand Fertilizers Market Size Summary

The Thailand fertilizers market is poised for significant growth over the forecast period, driven by factors such as the increasing adoption of advanced agricultural technologies, rising agricultural productivity, and a growing population. The government's supportive measures, including subsidies and financial assistance for farmers, have further bolstered the demand for fertilizers. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and increased raw material costs, the market has shown resilience. Nitrogenous fertilizers, particularly urea, dominate the market due to the nitrogen deficiency in the soil, largely attributed to the prevalence of rice cultivation. The government's initiatives to enhance agricultural output, coupled with the strategic import of raw materials, are expected to sustain the market's growth trajectory.

The market landscape is moderately consolidated, with key players like Yara (Thailand) Company Limited, Thai Central Chemical Public Company Limited, and Chai Tai Co. Ltd actively engaging in mergers, acquisitions, and product innovations to strengthen their market position. The introduction of technology-driven solutions, such as Yara's 'Kaset Go' app, highlights the industry's shift towards integrating modern agricultural practices to improve crop yields. The demand for nitrogen fertilizers is anticipated to rise, supported by the country's reliance on key crops such as corn, cassava, and sugarcane. As Thailand continues to navigate the challenges of limited arable land and the need for increased agricultural exports, the fertilizers market is expected to expand, driven by both domestic consumption and strategic imports.

Explore More

Thailand Fertilizers Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Government Initiatives and Support

      2. 1.2.2 Declining Agricultural Productivity and Regional Challenges

      3. 1.2.3 Rising Food Demand

    3. 1.3 Market Restraints

      1. 1.3.1 Climate Change and Natural Disasters

      2. 1.3.2 Shift Towards Organic Farming

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product

      1. 2.1.1 Nitrogenous Fertilizers

        1. 2.1.1.1 Urea

        2. 2.1.1.2 Calcium Ammonium Nitrate (CAN)

        3. 2.1.1.3 Ammonium Nitrate

        4. 2.1.1.4 Ammonium Sulfate

        5. 2.1.1.5 Anhydrous Ammonia

        6. 2.1.1.6 Other Nitrogenous Fertilizers

      2. 2.1.2 Phosphatic Fertilizers

        1. 2.1.2.1 Mono-Ammonium Phosphate (MAP)

        2. 2.1.2.2 Di-Ammonium Phosphate (DAP)

        3. 2.1.2.3 Triple Superphosphate (TSP)

        4. 2.1.2.4 Other Phosphatic Fertilizers

      3. 2.1.3 Potash Fertilizers

      4. 2.1.4 Micronutrient Fertilizers

      5. 2.1.5 Other Products

    2. 2.2 Application

      1. 2.2.1 Grains and Cereals

      2. 2.2.2 Pulses and Oilseeds

      3. 2.2.3 Commerical Crops

      4. 2.2.4 Fruits and Vegetables

      5. 2.2.5 Other Applications

Thailand Fertilizers Market Size FAQs

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.

In 2024, the Thailand Fertilizers Market size is expected to reach USD 6.10 million.

Thailand Fertilizers Market Report Snapshots

Thailand Fertilizers Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)