HS Code:
The category under HS Code 2903.41 to 2903.48 pertains to halogenated derivatives of hydrocarbons, specifically fluorinated, chlorinated, or brominated derivatives of acyclic hydrocarbons. This includes substances like trichlorofluoromethane, dichlorodifluoromethane, and other similar compounds often used as refrigerants, solvents, or in fire extinguishers. These chemicals are critical in industrial applications but are heavily regulated due to environmental concerns, particularly their impact on ozone depletion and global warming.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database
$450 million USD
37.5% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$150 million USD
12.5% of total trade of total trade
Decreasing
$100 million USD
8.3% of total trade of total trade
Stable
$80 million USD
6.7% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
15% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Shift to eco-friendly alternatives
Increased demand for hydrofluoroolefins (HFOs) as replacements for high-GWP (Global Warming Potential) refrigerants, reducing trade in traditional substances under 2903.41-2903.48.
2020-2022
Stricter environmental regulations
Significant decline in production and trade of ozone-depleting substances due to global agreements like the Kigali Amendment to the Montreal Protocol.
2019-2022
Rising production in Asia-Pacific
Countries like China and India are increasing their market share due to lower production costs, despite global phase-down efforts.
2021-2022
More countries ratified the Kigali Amendment, accelerating the phase-down of hydrofluorocarbons (HFCs) globally, impacting trade of specific substances in this category.
January 2023
Expected 30% reduction in HFC trade by 2030 in ratifying countries.
The European Union updated its F-Gas Regulation, imposing stricter quotas and bans on high-GWP refrigerants under HS 2903.41-2903.48.
April 2023
Significant drop in imports to EU markets, redirecting trade flows to other regions.
The US Environmental Protection Agency expanded its Significant New Alternatives Policy (SNAP) program, approving more low-GWP alternatives and restricting certain HFCs.
October 2022
Reduced domestic demand for traditional refrigerants in the US, affecting global exporters.