Thailand Complex (NPK) Fertilizer Market
Outlook to 2022 – Highly Competitive and Import Based Market” provides a
comprehensive analysis of the complex fertilizer market in Thailand and covers
complex fertilizer market size, consumption of complex fertilizers by product
form (Granulated/Fused or Blended), by type (two or three nutrients), by crops
(cereals, oilseeds, fruits & vegetables and others), by grade (NPK
15-15-15, NPK 16-16-8, NPK 16-8-8, NPK 10-10-16 and Others), company profile of
major players including Thai Central Chemical Public Company, Yara
International, ICL Fertilizers, Chia Tai, Terragro Fertilizer Company,
Ajinomoto, Rayong Fertilizer Trading Co. The publication also includes trade
scenario, Trend and developments and future analysis of Thailand complex
fertilizer market with estimated production and consumption projections has
also been discussed along with analyst recommendations.
Thailand Complex Fertilizer Market
The fertilizer consumption in Thailand has
remained at low levels as compared to other Asian countries such as China,
India, Vietnam and Indonesia. However, inclining population and food demand has
resulted in increase in consumption of complex fertilizers in the country.
Despite rise in demand, Thailand has not been able to achieve sufficient
production levels of complex fertilizers. Thus, imports play a crucial role in
the Thailand
Complex Fertilizer Industry. Production capability is very limited with
most of the straight fertilizers being imported in the country and used for
bulk blending. Raw materials for manufacturing complex fertilizers are almost
entirely imported by the country due to lack of necessary raw materials
domestically. Production of complex fertilizers inclined at a steady pace in
the last five years to meet the domestic demands of the country. In fact,
production of complex fertilizers increased from ~ million MT in 2012 to ~
million MT by 2017. This represented growth at a CAGR of ~% during the period
2012-2017. The market for complex fertilizers grew from USD ~ million in 2012
to USD ~ million in 2017, representing growth at a CAGR of ~% during the period
2012-2017.
Thailand
Complex Fertilizer Market Segmentation
By Product
Form:
Blended form of complex fertilizers was widely used in Thailand owing to lower
capital investment required in producing the same. Blended complex fertilizers
comprised for ~% of the market share as compared to ~% by granulated or fused
complex fertilizers.
By Product
Type:
Complex fertilizers comprising of three primary nutrients (nitrogen,
phosphorous and potassium) was widely consumed in Thailand and accounted for ~%
market share in 2017. On the other hand, complex fertilizers comprising of two
nutrients accounted for ~% market share in 2017.
By Grade: NPK 15-15-15 was the most widely used
complex fertilizer in Thailand and accounted for ~% market share in overall
complex fertilizer market in 2017. NPK 16-16-8, NPK 16-8-8 and NPK 10-10-16
were other popularly used fertilizer grade which comprised for ~%, ~% and ~%
market share respectively in 2017. All other grades/formulas of complex
fertilizers together comprised for about ~% of the market share in 2017.
By Crops: Complex fertilizers in Thailand were
majorly utilized for cultivation of cereals and comprised for about ~% of the
market share in 2017, in terms of consumption volume. Fruits and vegetables,
Oilseeds and all others accounted for ~%, ~% and ~% market share, respectively.
Competition
Scenario
Thailand's chemical fertilizer market is
highly competitive with top 5 players comprising over ~% of the market share,
in terms of revenue in 2017. The market is largely import based with very
limited domestic manufacturing capabilities. Raw materials are almost entirely
imported in the country. As a result, some of the leading European countries
have resorted to importing and distributing complex fertilizer products in the
country rather than setting up production units. Traders largely imported
finished fertilizers and subsequently marketed them.
Thai Central Chemical Public Company was the
largest players operating in this space. It imported majority of the raw
materials and produced both granulated and blended complex fertilizers. As of
2017, the company had ~% market share in the overall complex fertilizer market,
in terms of revenue. Yara International, ICL Fertilizers and Chia Tai were
other leading players in this sector. All these companies do not have any
manufacturing facility in Indonesia and only imported and supplied complex
fertilizers to the domestic market. Yara, ICL and Chia Tai accounted for ~%, ~%
and ~% market share in 2017, respectively. Terragro Fertilizer Company had
manufacturing unit for complex fertilizers in Thailand and comprised for ~%
market share in 2017.
Thailand
Complex Fertilizer Market Future Outlook and Projections
Despite dependence on external factors as
machinery, raw materials and energy, Thailand's complex fertilizer industry
will remain just as indispensable to the future of economic development as it
has been during the past decades. Thailand, after all, is an agricultural
country. Besides, its fertilizer use per hectare of land is still well below
other Asian countries. Consumption of complex fertilizers in Thailand is
expected to grow at a CAGR of ~% during the period 2017-2022. Ken Research estimates
the consumption of complex fertilizer to grow in the next five years, rising
from ~ million MT in 2018 to ~ million MT by 2022. Average selling prices of
NPKs are most likely to improve 2018 onwards owing to recovery in agricultural
commodities’ prices and rise in prices of raw materials. Complex fertilizers
market is anticipated to be worth USD ~ million by 2022 rising from USD ~
million in 2018. This represents growth at a CAGR of ~% during the period
2017-2022.
Key Topics
Covered in the Report:
Asia Complex Fertilizer Market Size by Revenue
Thailand Complex Fertilizer Market Size
Thailand Complex Fertilizer Market
Segmentation by Form, By Type, By Grade, By Crops
Trade Scenario
Market Share Analysis of Major Players
Company Profiles of Major Players
Future Outlook and Projection for Thailand
Complex Fertilizer Market
Analyst Recommendations
Future Outlook and Projection for Asia Complex
Fertilizer Market
For more
information on the research report, refer to below link:
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