HS Code:
Benzoyl peroxide falls under HS Code 2916.32, which includes aromatic monocarboxylic acids, their anhydrides, halides, peroxides, peroxyacids, and their derivatives. Benzoyl peroxide is primarily used in the pharmaceutical and cosmetics industries as an active ingredient in acne treatment products and in the chemical industry as a bleaching agent and polymerization initiator. Its global trade is influenced by demand in healthcare, personal care products, and industrial applications.
Total Trade Volume
Approximately $150 million USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$45 million USD
30% of total trade of total trade
Increasing
$30 million USD
20% of total trade of total trade
Stable
$25 million USD
17% of total trade of total trade
Increasing
$15 million USD
10% of total trade of total trade
Increasing
$10 million USD
7% of total trade of total trade
Stable
Average Rate
5.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like USMCA and EU-Japan EPA)
Rising demand for acne treatment products
Increased imports of benzoyl peroxide in regions with growing skincare markets, particularly in Asia-Pacific and North America
2021-2022
Shift towards organic and natural alternatives
Potential reduction in demand for synthetic benzoyl peroxide in cosmetics, pushing manufacturers to innovate formulations
2022
Industrial application growth
Stable demand from polymer and textile industries for bleaching and polymerization processes
2020-2022
The European Union has introduced stricter limits on benzoyl peroxide concentration in cosmetic products due to potential skin irritation concerns, affecting exporters to the EU market.
June 2023
Exporters must adapt formulations or face reduced market access in the EU, increasing compliance costs.
Recent trade negotiations have reduced tariffs on chemical intermediates, including benzoyl peroxide, facilitating smoother trade flows between the two countries.
March 2023
Increased export opportunities for Chinese manufacturers to the US, potentially shifting market shares.
India has incentivized local production of pharmaceutical intermediates like benzoyl peroxide under the 'Make in India' initiative, reducing reliance on imports.
January 2023
May lead to reduced imports from other countries, affecting global trade patterns in the long term.