HS Code:
1H-[1,2,4]Triazole (1,2,4-Triazole) with CAS No. 288-88-0 falls under HS Code 2933.99.97, which covers heterocyclic compounds with nitrogen hetero-atoms only. This chemical is primarily used as an intermediate in the synthesis of pharmaceuticals, agrochemicals (such as fungicides), and other industrial chemicals. It plays a critical role in the production of active ingredients for crop protection and medicinal applications due to its versatile chemical structure.
Total Trade Volume
Approximately $150 million USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$60 million USD
40% of total trade of total trade
Increasing
$30 million USD
20% of total trade of total trade
Increasing
$20 million USD
13% of total trade of total trade
Stable
$15 million USD
10% of total trade of total trade
Stable
$10 million USD
7% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
10% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Growing demand in agrochemical sector
Increased production of fungicides and pesticides drives demand for 1,2,4-Triazole, particularly in Asia-Pacific regions with expanding agricultural activities.
2021-2023
Rising pharmaceutical applications
Use in antiviral and antifungal drug synthesis boosts trade volumes, with significant growth in markets like India and the EU.
2020-2022
Supply chain disruptions
Post-COVID logistical challenges and raw material shortages have led to price volatility and temporary trade declines in 2021.
2021
The European Union updated REACH regulations, imposing stricter documentation and safety requirements for importing 1,2,4-Triazole due to environmental concerns.
June 2023
Potential short-term reduction in EU imports; increased compliance costs for exporters.
Major Chinese chemical manufacturers announced investments in expanding 1,2,4-Triazole production facilities to meet global demand.
March 2023
Likely to strengthen Chinaโs dominance in the market, potentially lowering global prices.
Negotiations between India and the US include reduced tariffs on chemical intermediates like 1,2,4-Triazole under potential trade pacts.
September 2023
Could increase bilateral trade volumes and benefit Indian exporters.