Thailand: Fertilizer Market 2024

Fertilizer Market Size in Thailand

The Thai fertilizer market surged to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in years to come.

Fertilizer Production in Thailand

In value terms, fertilizer production contracted modestly to $X in 2022 estimated in export price. Overall, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Fertilizer Exports

Exports from Thailand

In 2022, the amount of fertilizers exported from Thailand reduced markedly to X tons, which is down by X% compared with the previous year. Overall, exports, however, saw noticeable growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, fertilizer exports amounted to $X in 2022. In general, exports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Cambodia (X tons), Lao People's Democratic Republic (X tons) and Myanmar (X tons) were the main destinations of fertilizer exports from Thailand, together accounting for X% of total exports. Australia, Japan, Ecuador, Malaysia, Vietnam and Indonesia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ecuador (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Lao People's Democratic Republic ($X) and Myanmar ($X) constituted the largest markets for fertilizer exported from Thailand worldwide, with a combined X% share of total exports. Australia, Japan, Malaysia, Ecuador, Vietnam and Indonesia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Ecuador, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average fertilizer export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer export price increased by X% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Fertilizer Imports

Imports into Thailand

In 2022, purchases abroad of fertilizers decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, fertilizer imports surged to $X in 2022. In general, imports, however, enjoyed a slight increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Canada (X tons), Saudi Arabia (X tons) and China (X tons) were the main suppliers of fertilizer imports to Thailand, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), China ($X) and Canada ($X) constituted the largest fertilizer suppliers to Thailand, with a combined X% share of total imports.

Canada, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fertilizer import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fertilizer import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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