HS Code:
Acyclic aldehydes without other oxygen function (HS Code: 291211) include organic compounds such as formaldehyde and acetaldehyde, which are fundamental in chemical synthesis. These aldehydes are primarily used in the production of resins, plastics, and other industrial chemicals. They play a critical role in industries like construction, automotive, and healthcare due to their application in adhesives, disinfectants, and preservatives.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade of total trade
Increasing
USD 250 million
21% of total trade of total trade
Stable
USD 200 million
17% of total trade of total trade
Increasing
USD 150 million
12% of total trade of total trade
Stable
USD 100 million
8% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand in construction sector
Increased use of formaldehyde in adhesives and resins for building materials drives trade volume, especially in emerging economies.
2021-2022
Shift towards sustainable alternatives
Rising environmental concerns are pushing research into bio-based aldehydes, potentially reducing traditional acyclic aldehyde trade in the long term.
2022
Supply chain disruptions
Global shipping delays and raw material shortages have led to price volatility and trade imbalances in key markets.
2021-2022
The European Union introduced stricter emission limits for formaldehyde-based products, impacting exporters to the region.
June 2023
Exporters must invest in compliance measures, potentially increasing costs and affecting trade competitiveness.
A new bilateral agreement reduced tariffs on certain chemical products, including acyclic aldehydes, between the US and China.
March 2023
Boosted trade volumes between the two countries, with China increasing exports to the US market.
A major German chemical company announced a breakthrough in bio-based formaldehyde production, aiming to reduce reliance on fossil-based inputs.
September 2023
Could shift market dynamics in favor of sustainable products, influencing trade patterns over the next decade.