HS Code:
Cresols and their salts (HS Code: 2907.12) are organic compounds primarily used as intermediates in the production of other chemicals, including disinfectants, preservatives, and synthetic resins. Cresols are derived from coal tar or petroleum and exist in three isomeric forms: ortho-cresol, meta-cresol, and para-cresol. Their salts are used in various industrial applications, including the manufacture of pesticides, dyes, and pharmaceuticals. This category plays a critical role in the chemical industry, with demand driven by industrial and agricultural sectors globally.
Total Trade Volume
USD 250 million
Data from 2022
Source
UN Comtrade Database
USD 60 million
24% of total trade of total trade
Increasing
USD 45 million
18% of total trade of total trade
Stable
USD 40 million
16% of total trade of total trade
Increasing
USD 30 million
12% of total trade of total trade
Stable
USD 25 million
10% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Growing demand in agrochemicals
Increased use of cresols in pesticide production due to rising global food demand is boosting trade volumes, particularly in Asia-Pacific.
2021-2022
Shift toward sustainable production
Manufacturers are investing in greener production methods to meet environmental regulations, affecting cost structures and trade competitiveness.
2020-2022
Rising raw material costs
Fluctuations in petroleum prices have led to higher production costs, impacting export prices and trade margins.
2022
The European Union introduced stricter guidelines on the use of cresols in industrial applications to minimize environmental impact, requiring advanced waste treatment systems.
March 2023
This may increase production costs for EU-based manufacturers and shift some trade to less regulated regions.
China announced the opening of two new cresol production facilities to meet domestic and export demand, strengthening its position in the global market.
July 2022
This development is expected to increase export volumes from China, potentially lowering global prices.
A bilateral agreement between the US and India reduced tariffs on chemical intermediates, including cresols, to facilitate trade.
September 2022
This has led to a surge in exports from the US to India, benefiting American producers.