HS Code:
The category includes various chemical compounds such as 3-(5-Amino-3-methyl-1H-pyrazol-1-yl)-benzenesulfonic acid, Amino-J-pyrazolone, and Sulfinpyrazone, among others, which are generally classified under HS Code 2933.19 (Heterocyclic compounds with nitrogen hetero-atom(s) only; compounds containing an unfused pyrazole ring). These compounds are primarily used as intermediates in the synthesis of pharmaceuticals, dyes, and agrochemicals. They play a critical role in industries requiring specialized chemical structures for drug development (e.g., anti-inflammatory drugs like Sulfinpyrazone) and colorant production. Global trade in these compounds is driven by demand in the pharmaceutical and chemical manufacturing sectors, with significant production and export activities concentrated in countries with advanced chemical industries.
Total Trade Volume
Approximately $250 million USD
Data from 2022
Source
UN Comtrade Database, ITC Trade Map
$90 million USD
36% of total trade of total trade
Increasing
$60 million USD
24% of total trade of total trade
Increasing
$30 million USD
12% of total trade of total trade
Stable
$25 million USD
10% of total trade of total trade
Stable
$15 million USD
6% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
10% (imposed by certain developing countries for protecting domestic industries)
Lowest Rate
0% (under free trade agreements like EU-India FTA for specific partners)
Rising demand for pharmaceutical intermediates
Increased trade volume due to growing global need for anti-inflammatory and other drugs, especially post-COVID-19 recovery
2021-2022
Shift towards sustainable production
Higher compliance costs for exporters due to stricter environmental regulations in major markets like the EU and US
2020-2022
Growth in generic drug manufacturing
Boost in demand for pyrazolone derivatives in countries like India, driving export growth
2019-2022
The European Union introduced new REACH (Registration, Evaluation, Authorisation, and Restriction of Chemicals) guidelines affecting pyrazolone derivatives, requiring detailed safety data for imports.
June 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volume from non-compliant suppliers.
Indian government announced incentives under the Production Linked Incentive (PLI) scheme for chemical intermediates, including pyrazolone compounds, to enhance domestic manufacturing.
March 2023
Likely to increase Indiaโs export share in the global market over the next few years.
Ongoing trade disputes have led to additional tariffs on Chinese chemical exports, including heterocyclic compounds, prompting buyers to diversify sourcing to India and Europe.
January 2023
Shift in trade patterns, with reduced reliance on Chinese exports in the US market.