HS Code:
Cyclic amides, including cyclic carbamates, and their derivatives; salts thereof (HS Code: 2924) encompass a category of organic compounds characterized by the presence of an amide group in a cyclic structure. These chemicals are widely used in pharmaceuticals, agrochemicals, and industrial applications, including as intermediates in the synthesis of drugs, pesticides, and polymers. Derivatives and salts of cyclic amides are critical in various therapeutic areas, such as antibiotics (e.g., penicillin derivatives) and other medicinal compounds. This category plays a significant role in the global chemical and pharmaceutical industries due to its diverse applications and high demand for specialized formulations.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 1.3 billion
25% of total trade of total trade
Increasing
USD 900 million
17% of total trade of total trade
Increasing
USD 750 million
14% of total trade of total trade
Stable
USD 600 million
12% of total trade of total trade
Stable
USD 450 million
9% of total trade of total trade
Decreasing
Average Rate
5.8%
Highest Rate
12% (imposed by certain developing countries on imports to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Rising demand for pharmaceutical intermediates
Increased production and export from countries like China and India due to growing global demand for antibiotics and other drugs
2021-2023
Shift towards sustainable production methods
Manufacturers are adopting greener synthesis processes to comply with environmental regulations, increasing production costs but enhancing market access in the EU and US
2020-2022
Supply chain diversification
Post-COVID-19, companies are reducing reliance on single-country suppliers, boosting trade from secondary markets like South Korea and Brazil
2021-2023
The European Union introduced provisional anti-dumping duties on specific cyclic amide derivatives from China to protect domestic producers from underpriced imports.
March 2023
Potential increase in prices for EU consumers and a shift in sourcing to other countries like India
Under the 'Make in India' initiative, several new manufacturing units for cyclic amides have been established, supported by government incentives.
July 2022
Strengthened India's position as a leading exporter, potentially capturing more market share from China
The US Food and Drug Administration introduced stricter quality control measures for imported cyclic amide compounds used in pharmaceuticals.
October 2022
Increased compliance costs for exporters to the US, with potential delays in supply chains