HS Code:
Epoxides, epoxyalcohols, epoxyphenols, and epoxyethers with a three-membered ring, along with their halogenated, sulfonated, nitrated, or nitrosated derivatives (HS Code: 2910), are a category of organic chemical compounds widely used in industrial applications. These compounds are primarily utilized in the production of epoxy resins, which are critical in coatings, adhesives, and composite materials for industries such as construction, automotive, and electronics. They are also used as intermediates in the synthesis of other chemicals and pharmaceuticals. Due to their reactive nature, these compounds are subject to strict safety and environmental regulations in international trade.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.5%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand for epoxy resins in renewable energy sector
Increased trade volume due to use in wind turbine blade manufacturing
2021-2022
Shift towards bio-based epoxides
Emerging market for sustainable alternatives, influencing trade patterns with higher costs
2020-2022
Supply chain disruptions due to geopolitical tensions
Price volatility and delays in exports from key producing countries
2022
The European Union introduced stricter guidelines under REACH for the handling and importation of epoxides due to environmental and health concerns.
June 2023
Increased compliance costs for exporters to the EU, potential reduction in trade volume to the region
China announced the opening of new facilities for epoxy resin production to meet growing domestic and international demand.
March 2023
Strengthening China's position as the leading exporter, potentially lowering global prices
Negotiations between the US and China included discussions on reducing tariffs for chemical intermediates, including epoxides.
September 2023
Potential for increased bilateral trade if tariffs are reduced, benefiting US importers