HS Code:
2-Acetamidobenzoic acid, also known as N-acetylanthranilic acid, falls under the HS Code 292429. It is an organic compound primarily used as an intermediate in the synthesis of pharmaceuticals, dyes, and other chemical products. This compound is significant in the production of analgesics and anti-inflammatory drugs, making it a critical component in the pharmaceutical industry. Additionally, it is sometimes monitored due to its potential use in the illicit production of controlled substances.
Total Trade Volume
Approximately $50 million USD
Data from 2022
Source
UN Comtrade Database and ITC Trade Map
$20 million USD
40% of total trade of total trade
Increasing
$10 million USD
20% of total trade of total trade
Stable
$8 million USD
16% of total trade of total trade
Increasing
$5 million USD
10% of total trade of total trade
Stable
$3 million USD
6% 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 like EU-Japan EPA)
Rising demand in pharmaceutical sector
Increased production and export from key manufacturing hubs like China and India due to growing global demand for analgesics.
2021-2022
Regulatory scrutiny on precursor chemicals
Stricter export controls and monitoring have slowed trade in certain regions, impacting supply chains.
2020-2022
Shift towards sustainable production
Manufacturers are adopting greener synthesis methods, influencing production costs and market competitiveness.
2022
China introduced tighter export regulations on 2-Acetamidobenzoic acid to prevent illicit use, requiring additional documentation for shipments.
March 2023
Potential delays in supply chains for pharmaceutical manufacturers relying on Chinese exports.
The EU reduced tariffs on pharmaceutical intermediates, including 2-Acetamidobenzoic acid, under a new trade agreement with India.
July 2022
Increased trade flow between India and EU countries, boosting market access for Indian exporters.
The US Drug Enforcement Administration updated its list of monitored chemicals, including 2-Acetamidobenzoic acid, due to its potential misuse.
January 2023
Increased scrutiny and compliance costs for importers and exporters dealing with the US market.