HS Code:
Hexafluorides, categorized under HS Code 281290, are a group of chemical compounds primarily used in industrial applications, with uranium hexafluoride (UF6) being the most significant due to its role in nuclear fuel production. These compounds are critical in the energy sector, particularly for nuclear power generation, and in specialized chemical manufacturing processes. The trade of hexafluorides is highly regulated due to their dual-use nature, with applications in both civilian energy production and potential military use.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$450 million USD
37.5% of total trade of total trade
Increasing
$300 million USD
25.0% of total trade of total trade
Stable
$200 million USD
16.7% of total trade of total trade
Decreasing
$150 million USD
12.5% of total trade of total trade
Increasing
$100 million USD
8.3% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries on non-essential imports)
Lowest Rate
0% (under specific free trade agreements or for nuclear cooperation programs)
Growing demand for nuclear energy
Increased trade volume of uranium hexafluoride as countries expand nuclear power capacity to meet clean energy goals.
2021-2023
Geopolitical tensions affecting supply chains
Sanctions and export restrictions on key suppliers like Russia have led to supply chain disruptions and price volatility.
2022-2023
Shift toward alternative enrichment technologies
Emerging technologies like laser enrichment may reduce long-term demand for traditional hexafluoride-based processes.
2020-2025 (projected)
Western sanctions on Russia, a leading exporter of uranium hexafluoride, have caused a significant shift in trade patterns, with countries seeking alternative suppliers like France and China.
March 2022
Increased prices and supply uncertainty for nuclear fuel production in Europe and North America.
The U.S. government announced incentives for domestic production of uranium hexafluoride to reduce reliance on foreign imports, particularly from Russia.
June 2023
Potential long-term decrease in U.S. imports and boost for local industry.
New IAEA guidelines were introduced to enhance monitoring of hexafluoride trade to prevent proliferation risks.
September 2023
Increased compliance costs for exporters and stricter export licensing processes.