HS Code:
Compounds containing an unfused pyridine ring (whether or not hydrogenated) in the structure, classified under HS Code 293339, are a category of organic chemical compounds widely used in pharmaceuticals, agrochemicals, and industrial applications. These compounds serve as key intermediates in the synthesis of drugs, pesticides, and other specialty chemicals due to the unique chemical properties of the pyridine ring, which provides stability and reactivity. This category includes a range of derivatives that are critical to various industries, making it a significant segment in global chemical trade.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for pyridine-based pharmaceuticals
Increased production and export from countries like China and India due to growing generic drug markets
2021-2022
Shift towards sustainable production methods
Higher compliance costs but improved market access in regions with strict environmental regulations like the EU
2020-2022
Growing agrochemical applications
Boost in trade volume driven by demand for pesticides and herbicides in agricultural economies
2019-2022
The European Union introduced stricter environmental compliance requirements for the import of chemical compounds, including pyridine derivatives, to reduce carbon footprints and ensure sustainable production.
March 2023
Potential increase in production costs for exporters but improved long-term market access for compliant suppliers.
Major Indian chemical manufacturers announced investments in new facilities to produce pyridine-based compounds, aiming to capture a larger share of the global pharmaceutical intermediates market.
July 2023
Likely to increase India's export volume and potentially lower global prices due to economies of scale.
Recent negotiations between the US and China included discussions on reducing tariffs for chemical intermediates, including pyridine compounds, to ease trade tensions.
September 2023
Could lead to increased trade flows between the two countries if finalized, benefiting US importers and Chinese exporters.