Agriculture and plantation play a very important role in Thailand’s economic development. In the past 20 years, the proportion of Thailand’s agricultural economy in GDP has been roughly around 8%-10%, and the total annual output value has exceeded 1.5 trillion baht (US$ 40 billion). Thailand’s fertilizer industry has limited production capacity and requires a large amount of imported fertilizers every year. According to CRI analysis, Thailand is a country with an obvious fertilizer trade deficit. Thailand’s annual fertilizer import volume exceeds 4 million tons, but its export volume is only about 500,000 tons. Saudi Arabia, China, Russia, Canada and Malaysia are the top five import sources of fertilizers in Thailand in 2022.

Although the size of Thailand’s agricultural land has not changed significantly in recent years, Thailand’s agricultural productivity is growing rapidly, and this demand has led to an increase in the adoption of various agricultural products and technologies, promoting the development of Thailand’s fertilizer industry.

According to World Bank data, Thailand’s cultivated land area in 2021 was approximately 17.15 million hectares, accounting for 32.9% of the total land area. Among them, most of the farms are concentrated in the northeastern region of Thailand. The region suffers from poor soil quality, seasonality, variable rainfall, and scarcity of surface water. According to CRI analysis, fertilization is crucial to improving agricultural productivity in Thailand. At the policy level, the Thai government supports farmers by providing agricultural input subsidies. In 2019, the government announced new incentives for Thai farmers in the form of cheap fertilizers. This will promote the application of chemical fertilizers in Thailand. In addition, as the price of fertilizers in Thailand has continued to rise since the beginning of 2022, the Thai government has introduced policies to limit fertilizer prices to maintain the stability of the domestic agricultural economy.

Rice crops dominate Thailand’s crops, accounting for 41%, followed by rubber 28%; palm 12%; sugar cane 7%; feed corn 7% and pineapple 5%. These major crops in Thailand are generally fertilized with nitrogen fertilizers. , and most soil in Thailand is deficient in nitrogen. Therefore, nitrogen fertilizer is the most commonly used chemical fertilizer in Thailand, especially urea. In 2021, Thailand’s urea imports accounted for 73.6% of Thailand’s fertilizer imports.

In 2020-2022, COVID -19 had a direct negative impact on the value chain of Thailand Fertilizer market . The main raw materials for the production of fertilizers include ammonium, sulfuric acid, phosphorus and potassium. Logistics obstruction has limited the supply of raw materials, and fertilizer prices have also affected the domestic fertilizer industry during the epidemic. The rise in fertilizer prices has a huge impact on a high-deficit country like Thailand, which basically relies on imports. According to CRI analysis, Thailand’s fertilizer industry has gradually recovered since 2023.

The concentration of chemical fertilizers in Thailand is moderate, and the participants mainly include companies such as Yara (Thailand) Company Limited, Haifa, Chai Thai Co. Ltd, Thai Central Chemical Public Company Limited and Saksiam Group .

CRI predicts that with the development of Thailand’s agriculture and planting industry, Thailand’s fertilizer imports will gradually increase in the next few years. CRI estimates that Thailand fertilizer imports will be approximately 5.92 million tons in 2033, with a compound annual growth rate of approximately 3.2% from 2024 to 2033.

Topics covered:

• Overview of Thailand’s Fertilizer Industry
• Economic environment and policy environment for fertilizers in Thailand
• Thailand’s fertilizer market size from 2019 to 2023
• Analysis of major Thai fertilizer manufacturers
• Main driving forces and market opportunities of Thailand’s fertilizer industry
• What are the key drivers, challenges and opportunities for Thailand’s fertilizer industry during the forecast period 2024-2033?
• What is the expected revenue of the Thailand Fertilizer market during the forecast period 2024-2033?
• What strategies are adopted by the key players in the market to increase their market share in the industry?
• Which segment of the Thailand fertilizer market is expected to dominate the market in 2033?
• Thailand Fertilizer Market Forecast from 2024 to 2033
• What are the main headwinds facing Thailand’s fertilizer industry?

Table of Contents

1 Thailand Overview

1.1 Geographical conditions

1.2 Thailand’s demographic structure

1.3 Thailand’s economy

1.4 Thailand’s minimum wage standard in 2014-2024

1.5 Impact of COVID -19 on Thailand’s Fertilizer Industry

2 Development environment of Thailand’s fertilizer industry

2.1 Economic environment

2.1.1 Development status of Thailand’s agriculture and planting industry

2.1.2 Analysis of chemical fertilizer usage in Thailand market

2.2 Technical environment

2.2.1 Main types of chemical fertilizers used in Thailand

2.2.2 Technical level of Thailand’s fertilizer manufacturing industry

2.3 Policy environment for Thailand’s fertilizer industry

2.3.1 Main government policies for Thailand’s fertilizer industry

2.3.2 Foreign investment policies in Thailand’s fertilizer industry

2.4 Analysis of operating costs of Thailand’s fertilizer industry

2.4.1 Human resource costs

2.4.2 Electricity price

2.4.3 Factory rent

2.4.4 Other costs

3 Supply and demand status of Thailand’s fertilizer industry

3.1 Supply status of Thailand’s fertilizer industry

3.1.1 Thailand’s total fertilizer production

3.1.2 Production of different types of fertilizers

3.2 Demand status of Thailand’s fertilizer industry

3.2.1 Analysis of fertilizer consumption in Thailand

3.2.2 Analysis of demand for different types of fertilizers in the Thai market

3.2.3 Comprehensive forecast of Thailand’s fertilizer market

3.3 Analysis of Thailand Fertilizer Market Price

4 Import and export status of Thailand’s fertilizer industry from 2019 to 2023

4.1 Import status of Thailand’s fertilizer industry

4.1.1 Thailand’s chemical fertilizer import volume and import value

4.1.2 Thailand’s main import sources of chemical fertilizers

4.2 Export status of Thailand’s fertilizer industry

4.2.1 Thailand’s fertilizer export volume and export value

4.2.2 Main export destinations of fertilizers in Thailand

5 Analysis of market competition in Thailand’s fertilizer industry

5.1 Barriers to entry in Thailand’s fertilizer industry

5.1.1 Brand barriers

5.1.2 Quality barriers

5.1.3 Capital barriers

5.2 Competition structure of Thailand’s fertilizer industry

5.2.1 Bargaining power of fertilizer suppliers

5.2.2 Consumer bargaining power

5.2.3 Competition in Thailand’s Fertilizer Industry

5.2.4 Potential Entrants to the Fertilizer Industry

5.2.5 Alternatives to chemical fertilizers

6 Analysis of major fertilizer brands in Thailand

6.1 Yara (Thailand) Company Limited

6.1.1 Development History of Yara (Thailand) Company Limited

6.1.2 Yara (Thailand) Company Limited’s main products

6.1.3 Yara (Thailand) Company Limited’s operating model

6.2 NFC Public Company Limited

6.2.1 Development History of NFC Public Company Limited

6.2.2 Main products of NFC Public Company Limited

6.2.3 Operation model of NFC Public Company Limited

6.3 Chai Thai Co. Ltd

6.3.1 Development History of Chai Thai Co. Ltd

6.3.2 Main products of Chai Thai Co. Ltd

6.3.3 Chai Thai Co. Ltd’s operating model

6.4 Thai Central Chemical Public Company Limited

6.4.1 Development History of Thai Central Chemical Public Company Limited

6.4.2 Main products of Thai Central Chemical Public Company Limited

6.4.3 Thai Central Chemical Public Company Limited’s operating model

6.5 Haifa Group

6.5.1 Haifa Group ‘s development history

6.5.2 Haifa Group ‘s main products

6.5.3 Haifa Group ’s operating model

6.6 SAKSIAM GROUP

6. 6 .1 Development History of SAKSIAM GROUP

6. 6 .2 Main products of SAKSIAM GROUP

6. 6 .3 SAKSIAM GROUP’s operating model

6.7 ICL Fertilizers ( Ranthai Agro Co. Ltd)

6.7.1 ICL Fertilizers ( Ranthai The development history of Agro Co. Ltd)

6.7.2 ICL Fertilizers ( Ranthai Agro Co. Ltd)’s main products

6.7.3 ICL Fertilizers ( Ranthai Agro Co. Ltd) operating model

6. 8 Rayong Fertilizer Trading Company Limited (UBE Group)

6. 8 .1 The development history of Rayong Fertilizer Trading Company Limited (UBE Group)

6. 8 .2 Main products of Rayong Fertilizer Trading Company Limited (UBE Group)

6. 8 .3 Operating model of Rayong Fertilizer Trading Company Limited (UBE Group)

6. 9 COMPO Expert

6. 9 .1 Development History of COMPO Expert

6. 9 .2 COMPO Expert’s main products

6. 9 .3 COMPO Expert’s operating model

6.10 ICP FERTILIZER COMPANY

6. 10 .1 Development History of ICP FERTILIZER COMPANY

6. 10 .2 Main products of ICP FERTILIZER COMPANY

6. 10 .3 Operation model of ICP FERTILIZER COMPANY

7 Outlook of Thailand’s Fertilizer Industry from 2024 to 2033

7.1 Analysis of development factors of Thailand’s fertilizer industry

7.1.1 Driving forces and development opportunities of Thailand’s fertilizer industry

7.1.2 Threats and challenges faced by Thailand’s fertilizer industry

7.2 Supply Forecast of Thailand’s Fertilizer Industry

7.3 Thailand Fertilizer Market Demand Forecast

7.4 Thailand’s Fertilizer Import and Export Forecast

LIST OF CHARTS

Chart Thailand’s total population from 2013 to 2023

Chart Thailand’s GDP per capita from 2013 to 2023

Chart 2014-2024 Thailand’s minimum wage

Chart Policies related to the fertilizer industry issued by the Thai government from 2018 to 2024

Chart Thailand’s policies for foreign investment in the fertilizer industry

Chart Thailand’s total fertilizer production from 2019 to 2023

Chart 2019-2023 Thailand’s nitrogen, phosphorus and potassium fertilizer production

Chart 2019-2023 Thailand’s domestic consumption of chemical fertilizers

Char Thailand’s chemical fertilizer imports from 2019 to 2023

Chart 2019-2023 Thailand’s fertilizer import amount

Chart 2019-2023 Thailand’s fertilizer importing countries and import amounts

Chart 2019-2023 Thailand’s fertilizer export volume

Chart 2019-2023 Thailand’s fertilizer export value

Chart Thailand’s main export destinations of fertilizers from 2019 to 2023

Chart 2024-2033 Thailand fertilizer production forecast

Chart 2024-2033 Thailand domestic fertilizer market size forecast

Chart 2024-2033 Thailand fertilizer import forecast

Chart 2024-2033 Thailand fertilizer export forecast

The post Thailand Fertilizer Industry Research Report 2024-2033 first appeared on CRI Report.