Thailand Fertilizers Market Size & Share Analysis - Growth Trends And Forecast (2025 - 2030)

The Thailand fertilizers market size reached USD 2.60 billion in 2025 and is projected to grow at a CAGR of 4.24% to USD 3.20 billion by 2030. Thailand's rice exports reached 9.9 million metric tons, a 13% increase and the highest level since 2018. In 2024, the export value rose by 27% to USD 6.4 billion (225.6 billion baht), contributing to Thailand's export growth. Fertilizers remained essential for maintaining this high rice production.^{[1]Thai Rice Exporters Association, “Thai rice exports in 2025 struggling, Downward target revision ahead,” thairiceexporters.org.th}. The market growth is driven by increasing domestic food demand, government food-security initiatives, and the development of a USD 1.8 billion potash mine that aims to reduce dependency on imported raw materials. The market faces challenges from fluctuations in fertilizer prices, which range from USD 400 to USD 1,200 per metric ton during supply disruptions. These price variations have encouraged investments in domestic production facilities and precision agriculture technologies. Carbon-credit incentives aligned with Thailand's commitment to reduce emissions by 20-25% are encouraging farmers to adopt low-emission fertilizer variants^{[2]World Bank Group, “Supporting Thailand's Climate Goals through the World Bank Partnership for Market Readiness,” worldbank.org}.

Thailand protects farmers from international fertilizer price volatility through direct subsidies and price controls, which mitigated the price increase from USD 400 to USD 1,200 per metric ton in 2024. While this policy ensures farmers can access fertilizers, it reduces profit margins for producers. The country plans to launch a USD 1.8 billion domestic potash project in 2026 to enhance supply security and reduce future subsidy requirements, following similar results achieved in neighboring markets with domestic production capabilities. The policy's success is demonstrated by Thailand maintaining consistent rice export volumes despite significant cost increases.

According to the OAE agricultural statistics of Thailand 2024, Thailand's agricultural product imports reached 740 billion Thai baht (USD 22.8 billion) in 2024, compared to 725.5 billion Thai baht (USD 22.4 billion) in 2023. The tourism sector's recovery contributed to increased premium food consumption. Government initiatives, including the "Young Smart Farmers" program, enhanced awareness about precision fertilization on crop quality. The 2023-2027 Food Management Action Plan focuses on increasing agricultural output through optimized fertilizer usage.

Soil degradation from overuse is prevalent in the Northeast region, where many farmers rely on rain-fed agriculture. Nitrate pollution affects irrigation water at 95% of surveyed sites. Magnesium and other micronutrient deficiencies reduce durian and oil palm yields, increasing the need for targeted fertilizer supplements. The government's climate-smart agriculture policies focus on balanced fertilization to improve soil health. The National Science and Technology Development Agency (NSTDA) of Thailand developed a chelated fertilizer in 2021, which uses amino acids bonded with mineral micronutrients as organic complexing agents to enhance nutrient delivery.

The Joint Crediting Mechanism with Japan supports 48 pilot projects that monetize emission reductions through carbon markets. Rice cultivation accounts for the majority of farm-sector greenhouse gases and receives incentives for reduced-nitrogen practices. Premium T-VER credits generate additional revenue for farmers who adopt low-emission fertilizers. Thailand's voluntary carbon market, overseen by the Thailand Greenhouse Gas Management Organization (TGO), issues Thailand Voluntary Emission Reduction (TVER) credits. Organizations purchase these credits to offset their carbon footprints, creating financial incentives for emission reduction projects and encouraging lower-emission agricultural practices in fertilizer use and rice straw management.

Thailand's domestic gas production averaged 2.1 million metric tons per month in 2024, while LNG imports increased to 11.3 million metric tons, increasing vulnerability to global price fluctuations. Pipeline supply uncertainties from Myanmar and elevated feedstock costs have limited new capacity investments. PTT Global Chemical secured a 400,000 metric tons ethane import agreement beginning in 2029 to diversify supply sources, though this requires significant capital investment. Export restrictions implemented by major fertilizer-producing countries in 2022 and 2023 led to supply constraints in Thailand, causing fertilizer prices to reach USD 1,200 per metric ton in 2023, according to the Thai Fertilizer and Agricultural Suppliers Association. The increased import costs have created financial strain for Thai farmers, especially smallholders, who make up over 60% of the agricultural workforce, as reported by the National Statistical Office. 

Agriculture contributes substantial nitrogen levels to major river basins, leading to stricter runoff control measures. The implementation of odor concentration limits for fertilizer manufacturing facilities and potential mandatory application reporting requirements increases operational costs. Farmers are required to adopt balanced fertilization practices and enhanced-efficiency products to comply with new standards. The Thailand fertilizers market faces constraints from environmental regulations that impact compliance requirements and market growth. The Ministry of Natural Resources and Environment has implemented strict guidelines through the Environmental Quality Management Plan (2022-2026) to reduce soil and water pollution from nitrate fertilizers.