HS Code:
The Acids category, primarily classified under HS Code 28 (Inorganic chemicals) and HS Code 29 (Organic chemicals), includes a wide range of chemical compounds such as sulfuric acid, nitric acid, hydrochloric acid, acetic acid, and others. These acids are critical in various industrial applications, including manufacturing, agriculture (fertilizers), pharmaceuticals, and food processing. Global trade in acids is driven by industrial demand, raw material availability, and regional production capacities. The category is highly sensitive to environmental regulations and safety standards due to the hazardous nature of many acids.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 5.8 billion
22.9% of total trade of total trade
Increasing
USD 3.9 billion
15.4% of total trade of total trade
Stable
USD 2.7 billion
10.7% of total trade of total trade
Increasing
USD 1.9 billion
7.5% of total trade of total trade
Increasing
USD 1.5 billion
5.9% of total trade of total trade
Stable
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries on imports to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Rising demand for sulfuric acid in fertilizer production
Increased trade volumes in agricultural economies, particularly in Asia-Pacific and Latin America, driving export growth from major producers like China.
2021-2022
Shift towards green production methods
Growing preference for sustainably produced acids due to environmental regulations in Europe and North America, impacting cost structures and trade competitiveness.
2020-2022
Supply chain disruptions due to geopolitical tensions
Trade routes and pricing for acids have been affected by conflicts and sanctions, notably impacting exports from Russia and Ukraine.
2022
The European Union introduced new safety and environmental standards for acid imports, requiring detailed compliance documentation and sustainable sourcing certifications.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volumes from non-compliant countries while favoring producers with sustainable practices.
China announced the opening of new sulfuric acid plants to meet domestic and export demand, reinforcing its position as the leading global exporter.
June 2023
Likely to increase global supply, potentially lowering prices and intensifying competition for other exporters.
The United States imposed anti-dumping tariffs on acetic acid imports from specific countries to protect domestic producers.
September 2022
Shift in trade patterns, with affected exporters redirecting shipments to other markets like Southeast Asia.