Thailand Complex Fertilizer Market expected to Reach over USD 740 Million by 2022: Ken Research

Thailand Complex (NPK) Fertilizer Market 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.

o Net irrigated area in Thailand is expected to rise from 7.3 million hectares in 2017 to 8.1 million hectares by 2022.
o Thailand's fertilizer usage is very low at around 153 kgs per hectare of arable land as compared to around 530 kgs per hectare of China and 400 kgs per hectare of Vietnam.

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. The country is likely to remain highly dependent on imports to meet the domestic demands for complex fertilizers.

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. Establishment of new manufacturing sites and capacity expansion of existing facilities will fuel the domestic production of complex fertilizers in the near future and drive the demand for NPKs in the country.

Growing emphasis on use of balanced chemical fertilizers, curbing soil pollution and urgent need to improve agricultural productivity is expected to augment the demand for complex fertilizers in Thailand, according to Analyst at Ken Research.

Ken Research in its latest study, Thailand Complex (NPK) Fertilizer Market Outlook to 2022 - Highly Competitive and Import Based Market suggested NPK 15-15-15 was the most widely used complex fertilizer in Thailand, recording fastest growth during the last 5 years. Going forward, utilization of NPK 15-15-15 is most likely to remain strong owing to high consumer trust in this particular grade. Manufacturers should emphasize on deteriorating soil health and encourage government bodies to increase subsidy on complex fertilizers. Establishing mobile soil testing labs which would access the soil conditions, crop nutrient requirements and subsequently recommend the best possible complex fertilizer grade that would improve yield and income would help a great deal in establishing brand value.

For more information on the research report, refer to below link:
https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/thailand-complex-fertilizer-market/143970-104.html

Related Reports by Ken Research:
https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/asia-complex-npk-fertilizer-market/143884-104.html

https://www.kenresearch.ae/agriculture-and-animal-care/crop-protection/indonesia-complex-fertilizer-market/143969-104.html

https://www.kenresearch.com/agriculture-and-animal-care/crop-protection/india-complex-fertilizer-market/143968-104.html

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