HS Code:
The category 'Esters of other inorganic acids of nonmetals (excluding esters of hydrogen halides) and their salts; their halogenated, sulfonated, nitrated or nitrosated derivatives' (HS Code: 2920) encompasses a range of chemical compounds used primarily in industrial applications, including as intermediates in the synthesis of pharmaceuticals, agrochemicals, and specialty chemicals. These compounds are derived from inorganic acids such as phosphoric, sulfuric, and nitric acids, excluding hydrogen halides. They play a critical role in various chemical processes due to their reactivity and functional properties.
Total Trade Volume
Approximately $2.5 billion USD
Data from 2022
Source
United Nations Comtrade Database
$800 million USD
32% of total trade of total trade
Increasing
$500 million USD
20% of total trade of total trade
Stable
$400 million USD
16% of total trade of total trade
Increasing
$300 million USD
12% of total trade of total trade
Increasing
$200 million USD
8% of total trade of total trade
Stable
Average Rate
5.5% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand in pharmaceutical intermediates
Increased production and export from countries with strong chemical industries like China and India
2021-2022
Shift toward sustainable chemical processes
Rising interest in eco-friendly derivatives and stricter regulations on hazardous substances
2020-2022
Supply chain disruptions due to geopolitical tensions
Price volatility and delays in raw material availability affecting global trade
2022
The European Union introduced new REACH regulations targeting specific esters and derivatives, requiring detailed safety data for imports.
June 2023
Increased compliance costs for exporters to the EU, potential reduction in trade volume from non-compliant countries
China announced investments in expanding production facilities for inorganic acid esters to meet rising global demand.
March 2023
Strengthening of China's position as the leading exporter, potentially lowering global prices due to increased supply
A bilateral agreement reduced tariffs on certain chemical categories, including esters of inorganic acids, to boost trade.
September 2022
Enhanced market access for Indian exporters to the US, likely increasing trade volume between the two countries