Thailand fertilizer industry has been boosted by the growth in consumption of potash fertilizers. During 2006-2012, consumption of potash fertilizers grew at a CAGR of 11.5% during 2006-2012. Just as the nitrogen and phosphate fertilizers, potash fertilizer is also imported in the country and is used in production of compound fertilizers. Thailand imports most of the straight potash fertilizers in the country and uses in production of NPK fertilizers. Share of NPK fertilizers in potash fertilizers consumption reached 100.0% in 2012 representing the increasing usage of compound and complex fertilizers in the country. In the coming years 2013-2017, the consumption of potash fertilizers is expected to grow at an even higher rate largely due to its consumption for bulk blending and a higher usage ratio in NPK fertilizers. The consumption of potash fertilizers is expected to grow at a CAGR of 19.3% during 2012-2017.
The key players in the potash fertilizer industry would continue to be Thai Central, Saksiam, Mhawgss and Terragro which would continue to contribute more than half of the supply of the potash fertilizers in the country. Moreover the production of oil seeds particularly oil palm which continues to play a crucial role in the Thailand economy would witness a growth in its production which would subsequently boost the demand for consumption of potash fertilizers in the country.
Surging Demand for Potash Fertilizers for Oil Seeds to Augment Thailand Fertilizer Industry: Ken Research
“Oil Seeds particularly oil palm accounted for 70.0% of the consumption of potash fertilizers in Thailand in 2010 thereby making it one of the most important source of application of potash fertilizers in the country.” – According to the research report ‘Thailand Fertilizer Industry Outlook to 2017- Growth Fostered by Favorable Imports’ by Ken Research.
During 2012-2017, the fertilizer industry would be the fastest growing industry in the Asia fertilizer industry with a CAGR of 10.6% during 2012-2017. Potash fertilizers would largely drive the demand of fertilizers in the country majorly through NPK complex fertilizers. Growing awareness among the farmers along with easy accessibility of credit to farmers would augment the consumption of the fertilizers. Moreover continuous emphasis of the government to promote balanced fertilization would make potash fertilizers the fastest growing segment in the country.
The report provides detailed overview on the fertilizer market in Thailand and help reader to identify the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, fertilizer companies and marketing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.