Thailand: Nitrogenous Fertilizer Market 2024

Nitrogenous Fertilizer Market Size in Thailand

In 2022, the Thai nitrogenous fertilizer market increased by X% to $X, rising for the sixth year in a row after four years of decline. 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 throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Nitrogenous Fertilizer Production in Thailand

In value terms, nitrogenous fertilizer production amounted to $X in 2022 estimated in export price. Overall, the total production indicated a moderate 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 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Nitrogenous Fertilizer Exports

Exports from Thailand

In 2022, approx. X tons of nitrogenous fertilizers (mineral or chemical) were exported from Thailand; waning by X% on the previous year. Over the period under review, exports, however, showed notable growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, nitrogenous fertilizer exports contracted to $X in 2022. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then dropped slightly in the following year.

Exports by Country

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

In terms of the main countries of destination, Ecuador, with a CAGR of X%, saw 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 nitrogenous fertilizer export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, export price indicated a pronounced 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, nitrogenous 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 Lao People's Democratic Republic ($X per ton), while the average price for exports to Ecuador ($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.

Nitrogenous Fertilizer Imports

Imports into Thailand

After two years of growth, purchases abroad of nitrogenous fertilizers (mineral or chemical) decreased by X% to X tons in 2022. Over the period under review, imports saw a perceptible contraction. The pace of growth appeared the most rapid in 2020 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, nitrogenous fertilizer imports skyrocketed to $X in 2022. Overall, imports, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

Saudi Arabia (X tons), Malaysia (X tons) and Qatar (X tons) were the main suppliers of nitrogenous fertilizer imports to Thailand, with a combined X% share of total imports. China, Bahrain, Oman and Indonesia lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest nitrogenous fertilizer suppliers to Thailand were Saudi Arabia ($X), Malaysia ($X) and Qatar ($X), with a combined X% share of total imports. China, Bahrain, Oman and Indonesia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Oman, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nitrogenous fertilizer import price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the import price saw a pronounced increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for China ($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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