Market outlook
of the fertilizers market in Thailand
Fertilizers are used to prompt the growth of plant
and also in increasing the crop yield. They help plants in holding the soil,
thereby reduce soil erosion. Publisher’s market research analyst has estimated
that the consumption of fertilizers in Thailand was 2.74 million metric tons in
2014 and is expected to reach a volume of 3.34 million metric tons in 2019,
growing at a CAGR of more than 4%. Agriculture is one of the major source of
the economy in Thailand, wherein more than 60% of the population is involved in
agriculture.
The increasing population in Thailand every year has
increased the demand for food, thereby increasing the production and
consumption of fertilizers in the country. The consumers are expanding their
diets with these dietary changes manifested in the form of increased demand for
grain-intensive animal protein and dairy products. However, with the decline in
arable land, it is difficult for farmers to increase productivity enough to
cater to the high demand for food. Therefore, farmers are increasingly
depending on fertilizers to improve plant growth and yields.
Segmentation
of the fertilizers market in Thailand by product
- Nitrogen
- Phosphate
- Potash
In 2014, the nitrogen segment led the market with a
share of over 63% and this segment is likely to retain their top position
through 2019. 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.
Competitive
landscape and key vendors
The fertilizers market in Thailand 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.
Top vendors in
this market are -
- Artemis & Angel
- Chia Tai
- National Chemical Fertilizer Public Company
- Thai Central Chemical
- Yara International
Other prominent vendors included in this report are
Ajinomoto, Crop Argo, Global Bio, ICL Fertilizers, and Terragro Company.
Growth drivers, challenges, and upcoming trends:
Fertilizers
Publisher’s market research analysts consider
upcoming trends such as the increase in adoption of biofertilizers, which is
driven by the increase in awareness of the negative impact of chemical
fertilizers on health and environment. The increasing adoption of
biofertilizers can also be attributed to the growing demand for organic food
and increase in government regulations for environmental safety.
This report provides a number of factors contributing
to the adoption, limitations, and opportunities of the fertilizers market in
Thailand. It also offers an analysis of each factor and an estimation of the
extent to which the factors are likely to impact the overall market growth.
Key questions
answered in the report include
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the fertilizers market in Thailand?
- What are the key market trends impacting the growth of the fertilizers market in Thailand?
- What are the challenges to market growth?
- Who are the key vendors in the fertilizers market in Thailand?
- What are the market opportunities and threats faced by the vendors in the fertilizers market in Thailand?
- What are the key outcomes of the five forces analysis of the fertilizers market in Thailand?
Spanning over 59 pages, “Fertilizers Market in Thailand 2015 - 2019” report
covers Executive summary, Scope of the report, Market research methodology, Introduction, Global agriculture: An overview, Thailand:
Country profile, Agriculture in Thailand: An overview, Market landscape, Market
segmentation by product, Market drivers, Impact of drivers, Market challenges,
Impact of drivers and challenges, Market trends, Vendor landscape, Other
prominent vendors, Key vendor analysis, Appendix.
Find more information Visit at:
http://mrr.cm/oLh
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