Thailand Crop Protection Chemicals Market Size

Thailand Crop Protection Chemicals Market Analysis

The Thailand Crop Protection Chemicals Market size is estimated at USD 0.93 billion in 2024, and is expected to reach USD 1.20 billion by 2029, growing at a CAGR of 5.31% during the forecast period (2024-2029).

• The rapid increase in pesticide use in Thailand may be accounted for an increase in cash crops. Most pesticide-intensive crops, vegetables, and fruits in Thailand are the highest cash value-added crops. As farmers have gradually switched from low-value-added to high-value-added crop production, the overall consumption rate of pesticides has naturally increased. 
• The Office of Agricultural Economics (OAE) and the Office of Agriculture Regulations (OAR) have shown that the usage of pesticides has increased significantly in recent years. The import value of pesticides increased from USD 649.8 million in 2020 to USD 885.1 million in 2021. The major reason for the increase in pesticide imports and use being expanded over the last decade is attributed to Thailand's significant role as a leading exporter of food and agricultural products.
• Insecticide classes commonly imported included organophosphate (OP; e.g., chlorpyrifos), carbamate (e.g., fenobucarb, methomyl), and pyrethroid. Paraquat, glyphosate, 2,4-D, ametryn, and atrazine were the most often imported herbicides. Dithiocarbamate, mancozeb, carbendazim, and captan were the most often imported fungicides in the previous years. 
• The favorable tax policy of the Thai government toward the growing market of agrochemical imports, the promotion of sustainable and integrated pest management techniques, and the increased intensity of land use are the major drivers for the market.