HS Code:
The category 'Consisting wholly of substances found naturally in coal tar, whether obtained from coal tar or other source' refers to chemical products and compounds that are derived from coal tar or synthesized to mimic the naturally occurring substances in coal tar. These substances include aromatic hydrocarbons, phenols, and other organic compounds used in industries such as dyes, pharmaceuticals, and plastics. This category falls under specific Harmonized System (HS) codes related to organic chemicals, often under Chapter 29 or 27, depending on the specific product and its use. Global trade in these products is driven by industrial demand for raw materials in chemical manufacturing.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 800 million
32% of total trade
Increasing
USD 500 million
20% of total trade
Stable
USD 400 million
16% of total trade
Increasing
USD 300 million
12% of total trade
Increasing
USD 200 million
8% of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Shift towards synthetic alternatives
Reduced dependence on coal tar as a primary source, driven by environmental concerns and sustainability goals, leading to growth in synthetic chemical markets.
2021-2022
Increased demand in pharmaceutical sector
Rising use of coal tar derivatives in drug synthesis has boosted trade volumes, especially in countries with strong pharmaceutical industries like India and the US.
2020-2022
Stringent environmental regulations
Higher compliance costs for producers and exporters due to stricter emission and waste management standards in Europe and North America.
2019-2022
The European Union has introduced stricter regulations under the Green Deal framework, targeting a reduction in the use of coal tar-derived products due to environmental and health concerns.
March 2023
Potential decrease in exports to the EU market, pushing producers to explore alternative markets in Asia and Africa.
A recent phase of the US-China trade agreement has reduced tariffs on certain chemical products, including coal tar derivatives, to promote bilateral trade.
January 2023
Increased trade volume between the two countries, benefiting Chinese exporters and US chemical manufacturers.
India has introduced subsidies and incentives for domestic production of coal tar derivatives under the 'Make in India' initiative to reduce reliance on imports.
September 2022
Potential reduction in import volumes while boosting Indiaโs export capacity in the long term.