HS Code:
Benzoyl chloride (HS Code: 2916.32) is an organochloride compound widely used as an intermediate in the production of pharmaceuticals, dyes, perfumes, and other chemical products. It is a key reagent in organic synthesis, particularly in acylation reactions to form benzoyl derivatives. The global trade of benzoyl chloride is influenced by demand in the chemical and pharmaceutical industries, with production concentrated in countries with strong industrial bases.
Total Trade Volume
Approximately $150 million USD
Data from 2022
Source
UN Comtrade Database, International Trade Centre (ITC)
$60 million USD
40% of total trade of total trade
Increasing
$30 million USD
20% of total trade of total trade
Increasing
$25 million USD
17% of total trade of total trade
Stable
$20 million USD
13% of total trade of total trade
Stable
$15 million USD
10% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
10% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Rising demand in pharmaceutical manufacturing
Increased export volumes from China and India due to their cost-effective production and growing pharmaceutical sectors
2021-2022
Shift towards sustainable chemical processes
Growing interest in greener alternatives to benzoyl chloride, potentially reducing demand in certain markets
2022
Supply chain disruptions
Delays in raw material availability and shipping bottlenecks have led to price volatility
2020-2021
China introduced stricter export controls on chemical intermediates, including benzoyl chloride, to ensure compliance with international safety standards.
March 2023
Potential short-term supply constraints for importing countries, leading to higher prices.
The European Union tightened regulations on the use of hazardous chemicals, requiring additional safety certifications for benzoyl chloride imports.
July 2022
Increased compliance costs for exporters to the EU market, potentially reducing trade volumes from non-compliant suppliers.
Negotiations between the US and India included talks on reducing tariffs for chemical intermediates like benzoyl chloride.
September 2023
If finalized, this could boost Indian exports to the US, further solidifying India's position in the global market.