Report Update Nov 1, 2024

Thailand - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Urea Market 2024

Urea Market Size in Thailand

In 2022, the Thai urea market increased by 23% to $X, rising for the third year in a row after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Urea Exports

Exports from Thailand

In 2022, approx. X tons of urea were exported from Thailand; which is down by -57.8% compared with the year before. Overall, exports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 150% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, urea exports dropped rapidly to $X in 2022. In general, exports, however, showed a strong increase. The growth pace was the most rapid in 2017 when exports increased by 149% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of urea exports from Thailand, with a combined 99% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lao People's Democratic Republic (with a CAGR of +33.0%), while the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Myanmar ($X) and Lao People's Democratic Republic ($X) constituted the largest markets for urea exported from Thailand worldwide, together comprising 100% of total exports.

In terms of the main countries of destination, Lao People's Democratic Republic, with a CAGR of +37.2%, saw the highest rates of growth with regard to 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 urea export price stood at $X per ton in 2022, surging by 60% against the previous year. Over the period under review, the export price showed temperate growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Myanmar ($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 Myanmar (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Urea Imports

Imports into Thailand

Urea imports into Thailand shrank notably to X tons in 2022, waning by -20.4% compared with the year before. In general, imports continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 14%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, urea imports skyrocketed to $X in 2022. Overall, imports, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 49% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Saudi Arabia (X tons), Malaysia (X tons) and Qatar (X tons) were the main suppliers of urea imports to Thailand, together accounting for 84% of total imports. Bahrain, Oman, Indonesia, Brunei Darussalam and China lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +9.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Malaysia ($X) and Qatar ($X) constituted the largest urea suppliers to Thailand, together comprising 85% of total imports. Bahrain, Oman, Indonesia, Brunei Darussalam and China lagged somewhat behind, together accounting for a further 13%.

Oman, with a CAGR of +11.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average urea import price amounted to $X per ton, with an increase of 77% against the previous year. Over the period under review, the import price showed a pronounced increase. 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 Brunei Darussalam ($X per ton), while the price for China ($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 (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for urea in the world?

India remains the largest urea consuming country worldwide, accounting for 26% of total volume. Moreover, urea consumption in India exceeded the figures recorded by the second-largest consumer, China, threefold. The United States ranked third in terms of total consumption with a 5.9% share.

What are the largest producers of urea in the world?

The countries with the highest volumes of urea production in 2021 were India, China and Russia, with a combined 41% share of global production. Iran, Indonesia, Pakistan, Qatar, Saudi Arabia, Oman, Canada, the United Arab Emirates, Algeria and Vietnam lagged somewhat behind, together accounting for a further 39%.

What are the leading suppliers of urea to Thailand?

In value terms, Saudi Arabia, Malaysia and Qatar appeared to be the largest urea suppliers to Thailand, together comprising 88% of total imports. These countries were followed by Indonesia and Bahrain, which together accounted for a further 9.4%.

What are the leading importers of urea from Thailand?

In value terms, Cambodia remains the key foreign market for urea exports from Thailand, comprising 83% of total exports. The second position in the ranking was occupied by Lao People's Democratic Republic, with a 16% share of total exports.

What is the average export price for urea in Thailand?

The average urea export price stood at $456 per ton in 2021, growing by 50% against the previous year.

What is the average import price for urea in Thailand?

In 2021, the average urea import price amounted to $407 per ton, jumping by 55% against the previous year.

This report provides an in-depth analysis of the urea market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 4001 -

Country coverage:

Thailand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Thailand
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023