HS Code:
The Crimson category, often associated with specific dyes, pigments, or related chemical products under the Harmonized System (HS) Code, includes natural and synthetic colorants used in industries such as textiles, cosmetics, and food processing. These products are critical for coloration purposes and are traded globally due to their specialized applications and varying production capabilities across countries. The category also includes raw materials and intermediates used in the production of crimson shades. Trade in this category is influenced by factors such as raw material availability, environmental regulations, and demand in end-use industries.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
15% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Shift towards eco-friendly and natural dyes
Increased demand for sustainable crimson pigments, pushing synthetic producers to innovate or lose market share
2021-2022
Rising demand in textile industry
Growth in fashion and apparel sectors in Asia-Pacific drives higher trade volumes for crimson colorants
2020-2022
Technological advancements in synthetic pigments
Improved durability and color intensity of synthetic crimson products are boosting their adoption in industrial applications
2019-2022
The European Union introduced new environmental regulations targeting synthetic crimson dyes to reduce chemical waste and promote biodegradable alternatives.
March 2023
Likely to increase production costs for non-compliant exporters and shift trade towards natural dye producers
The Indian government announced subsidies and tax benefits for dye exporters to boost the global competitiveness of its crimson pigment industry.
January 2023
Expected to further solidify India's position as a leading exporter, potentially increasing its market share
A new trade pact reduced tariffs on chemical products, including crimson dyes, between China and ASEAN countries, facilitating smoother trade flows.
November 2022
Enhanced market access for Chinese exporters, likely to intensify competition in the region