HS Code:
The category IV. Ethers, Alcohol Peroxides, Ether Peroxides, Acetal and Hemiacetal Peroxides, Ketone Peroxides, Epoxides with a Three-Membered Ring, Acetals and Hemiacetals, and Their Halogenated, Sulfonated, Nitrated or Nitrosated Derivatives (HS Code: 29.09 - 29.10) encompasses a range of organic chemical compounds used primarily in industrial applications such as solvents, intermediates in chemical synthesis, and in the production of plastics, resins, and pharmaceuticals. These compounds are critical in various manufacturing processes due to their reactive properties and versatility. Ethers are widely used as solvents, while epoxides serve as key intermediates in the production of epoxy resins. Peroxides in this category are often utilized as initiators in polymerization reactions.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-US TTIP provisions)
Growing demand for epoxy resins in automotive and construction industries
Increased export of epoxides with three-membered rings, particularly from China and the US, to meet global demand for lightweight and durable materials
2022
Shift towards green chemistry and sustainable solvents
Rising interest in bio-based ethers as alternatives to traditional petrochemical-derived products, influencing trade patterns in favor of countries investing in green technologies
2021-2022
Volatility in raw material prices
Fluctuations in the cost of petrochemical feedstocks have led to unstable pricing, affecting trade margins and competitiveness of exporters
2022
The European Union introduced new REACH regulations targeting the safe handling and usage of peroxide compounds due to their hazardous nature, requiring additional compliance measures for exporters to the region.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volumes from non-compliant countries while benefiting those with advanced safety standards.
A bilateral agreement between the US and China reduced tariffs on certain chemical intermediates, including ethers and epoxides, to boost trade amidst ongoing tensions.
January 2023
Facilitated a 10% increase in trade volume for these products between the two countries, strengthening supply chains for downstream industries like electronics and automotive.
Several European companies have launched pilot projects for the production of bio-based ethers, supported by government grants, aiming to reduce dependency on fossil fuel-derived chemicals.
June 2023
Potential shift in trade dynamics as bio-based products gain market share, particularly in environmentally conscious markets like the EU.