HS Code:
α-Hydro-ω-hydroxypoly(oxy-1,2-ethanediyl)borate (CAS No. 71243-41-9) is a chemical compound classified under HS Code 3819.00.00, which covers hydraulic brake fluids and other prepared liquids for hydraulic transmission, not containing or containing less than 70% by weight of petroleum oils or oils obtained from bituminous minerals. This compound is often used as a component in hydraulic fluids, lubricants, and other industrial applications due to its chemical stability and properties as a borate ester. It plays a critical role in automotive, industrial machinery, and aerospace sectors for ensuring efficient hydraulic system performance.
Total Trade Volume
Approximately $500 million USD
Data from 2022
Source
United Nations Comtrade Database, ITC Trade Map
$150 million USD
30% of total trade of total trade
Increasing
$100 million USD
20% of total trade of total trade
Stable
$80 million USD
16% of total trade of total trade
Increasing
$50 million USD
10% of total trade of total trade
Stable
$40 million USD
8% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
8% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements such as USMCA and EU-Japan EPA)
Growing demand in automotive sector
Increased production of electric and hybrid vehicles requiring advanced hydraulic fluids is driving demand for specialized compounds like α-Hydro-ω-hydroxypoly(oxy-1,2-ethanediyl)borate.
2021-2023
Shift towards sustainable chemicals
Manufacturers are focusing on eco-friendly formulations, leading to innovations in borate-based compounds with lower environmental impact.
2022
Rising raw material costs
Fluctuations in the prices of raw materials for borate esters have led to increased production costs, affecting market pricing strategies.
2022-2023
The European Union introduced stricter regulations on the use of borate compounds in hydraulic fluids, requiring additional safety certifications for imports and production.
January 2023
This may increase compliance costs for exporters to the EU but ensures higher safety standards, potentially boosting consumer confidence.
Recent trade negotiations between the US and China included provisions to reduce tariffs on industrial chemicals, including those under HS Code 3819.00.00.
March 2023
This is expected to increase trade volumes between the two countries, benefiting exporters of α-Hydro-ω-hydroxypoly(oxy-1,2-ethanediyl)borate.
A leading chemical manufacturer announced a breakthrough in developing a more efficient and environmentally friendly borate ester for hydraulic applications.
June 2023
This development could shift market preferences towards sustainable products, influencing global trade patterns.