HS Code:
The category under HS Code 29214300 includes specialized chemical compounds such as 2-Amino-5-chloro-4-ethyl benzenesulfonic acid, 2-Amino-5-chloro-p-toluenesulfonic acid, p-Nitro-o-toluidine, and 3-(Trifluoromethyl) aniline (m-Aminobenzotrifluoride). These chemicals are primarily used as intermediates in the production of dyes, pigments, pharmaceuticals, and agrochemicals. They belong to the family of aromatic amines and sulfonic acids, which are critical in various industrial applications due to their reactive properties. The global trade of these compounds is influenced by demand in the textile, pharmaceutical, and chemical manufacturing sectors, with significant production and export activities centered in countries with robust chemical industries.
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
6.5% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand for intermediates in pharmaceutical manufacturing
Increased trade volume, especially in Asia-Pacific, due to rising generic drug production
2021-2022
Shift towards sustainable chemical production
Pressure on manufacturers to adopt greener synthesis methods, impacting production costs and trade competitiveness
2020-2022
Fluctuations in raw material prices
Volatility in pricing of benzene derivatives affects profit margins and trade stability
2022
The European Union introduced stricter REACH compliance requirements for aromatic amines, including mandatory safety data sheets and reduced permissible exposure limits.
January 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volumes from non-compliant suppliers.
China revised its export tax rebate policy for chemical intermediates, offering higher rebates to encourage exports of high-value compounds like 3-(Trifluoromethyl) aniline.
March 2022
Boosted export competitiveness of Chinese manufacturers, increasing their market share globally.
The United States imposed additional tariffs on certain Indian chemical exports under Section 301, citing unfair trade practices.
September 2022
Reduced competitiveness of Indian exporters in the US market, potentially shifting trade to other suppliers.