This industry research report offers an in-depth study and breakdown of the fertilizers market in Thailand by product such as nitrogen, phosphate, and potash. The report also presents market size and market projections and key vendors, which include Thai Central Chemical, Chia Tai, National Chemical Fertilizer Public Company, Yara International, and Artemis & Angel.
Technavio’s market research analysts estimate the fertilizers market in Thailand to grow at a CAGR of more than 4% between 2015 and 2019. One of the major reasons for this market’s growth is risisng innovations in agriculture, which is one of the major sources of the economy in Thailand. Around 60% of the Thai population is engaged in agricultural activities.
The new market research report from Technavio provides a breakdown and analysis of the fertilizers segments by technology.
“The market is currently witnessing increased adoption of eco-friendly biofertilizers, owing to the negative impact of chemical fertilizers on health and the environment. The biofertilizers are organic and are primarily derived from seaweed and fish and bone meal. These organic nutrients are composted before they are applied to plants. Artemis & Angel is a prominent provider of biofertilizers in Thailand,” says Faizan Akhtar, Industry Manager, New Coverage, Technavio Research.
Nitrogen fertilizers leads the fertilizer market in Thailand, accounting for 63% of the overall market share. Corn, sugarcane, and cassava crops use significant amount of nitrogen fertilizers in Thailand, which is one of the main reasons influencing the market growth. Moreover, the growth in the nitrogen fertilizer market is majorly driven by imports from the Middle East countries (Saudi Arabia, Oman, Qatar, and Kuwait), Malaysia, and the US.
Fertilizer market in Thailand by product
Source: Technavio, 2015
The leading vendors in the fertilizers market in Thailand include Thai Central Chemical, Chia Tai, National Chemical Fertilizer Public Company, Yara International, and Artemis & Angel. This market is extremely competitive, with players competing to enhance market share. Factors such as intense competition, rapid advances in technology, and frequent changes in consumer preferences create significant risks for market vendors. Therefore, the market is expected to witness increased consolidation because of the growing competition among vendors.
A more detailed analysis is available in the Technavio report, Fertilizers Market in Thailand 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Nitrogenous Fertilizers Market in Brazil 2015-2019
- Global Nitrogenous Fertilizer Market 2015-2019
- Agrochemicals Market in Brazil 2015-2019
- Global Fertilizer Nutrients Market 2012-2016
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