HS Code:
This category includes specialized chemical compounds and mixtures classified under a specific HS Code (exact code to be confirmed based on the product description). The products include Benzene, 2,4-diisocyanate-1,3,5-tris(1-methylethyl) homopolymer; 5-Fluoro-2-methyl-1-[[4-(methylsulfinyl)phenyl]methylene]-1H-indene; mixtures of dimethyl phthalate, t-butanol, hydrogen peroxide, and sodium salicylate; and mixtures containing derivatives of N-[4-(2-hydroxy-3-phenoxypropoxy)phenyl]-acetamide. These chemicals are primarily used in industrial applications such as polymer production, pharmaceutical intermediates, and specialized chemical synthesis. Global trade in these products is driven by demand in industries like manufacturing, healthcare, and research, with key production hubs in chemically advanced economies.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
UN Comtrade Database and ITC Trade Map
$350 million USD
29.2% of total trade of total trade
Increasing
$280 million USD
23.3% of total trade of total trade
Stable
$200 million USD
16.7% of total trade of total trade
Increasing
$150 million USD
12.5% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Increasing
Average Rate
5.8% ad valorem
Highest Rate
12% (imposed by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-US TTIP provisions or WTO bindings)
Rising demand for pharmaceutical intermediates
Increased trade volume due to growth in generic drug manufacturing, particularly in India and China
2021-2022
Shift towards sustainable chemical production
Pressure on exporters to adopt greener synthesis methods, affecting cost structures and trade competitiveness
2020-2022
Supply chain disruptions due to geopolitical tensions
Delays and increased costs in trade routes, particularly affecting shipments from Asia to Europe
2022
The European Union introduced stricter REACH compliance requirements for chemical mixtures, including derivatives of acetamide, impacting exporters to the region.
June 2023
Potential increase in compliance costs for exporters; possible reduction in EU market share for non-compliant suppliers.
A bilateral agreement reduced tariffs on select chemical intermediates, boosting trade of homopolymers and indene derivatives between the two countries.
March 2023
Increased trade volume between US and China, potentially shifting market dynamics away from European exporters.
India announced investments in chemical manufacturing hubs to boost production of pharmaceutical intermediates, including mixtures containing hydrogen peroxide and salicylate derivatives.
January 2023
Likely to enhance India's export share, creating competitive pressure on other exporting nations.