HS Code:
p-Hydroxybenzaldehyde (HS Code: 29124990) is an organic compound and a key aromatic aldehyde used primarily as an intermediate in the synthesis of pharmaceuticals, agrochemicals, and fragrances. It serves as a building block in the production of various chemicals, including vanillin and certain polymers. Due to its versatile applications, it is a significant product in the global chemical industry, with demand driven by sectors such as healthcare, agriculture, and cosmetics.
Total Trade Volume
USD 150 million
Data from 2022
Source
International Trade Centre (ITC) Trade Map
Average Rate
5.5%
Highest Rate
10% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in pharmaceutical applications
Increased production and export from major suppliers like China and India due to growth in drug manufacturing
2021-2022
Shift toward sustainable production
Adoption of green chemistry practices in Europe and North America, increasing costs but improving market access
2020-2022
Fluctuating raw material prices
Price volatility of petrochemical feedstocks affecting profit margins for producers
2022
The European Union introduced provisional anti-dumping duties on p-Hydroxybenzaldehyde imports from China to protect domestic manufacturers.
June 2023
Potential increase in prices within the EU market and a shift in trade flows toward other suppliers like India.
A leading Indian chemical company announced the opening of a new plant dedicated to p-Hydroxybenzaldehyde production, boosting export capacity.
March 2023
Strengthening India's position as a key exporter, potentially reducing global prices due to increased supply.
Ongoing trade disputes have led to additional tariffs on Chinese chemical exports, including p-Hydroxybenzaldehyde, to the United States.
January 2023
Diversification of supply chains as US importers look for alternative sources such as India and Europe.