HS Code:
Ketone-alcohols and ketone-aldehydes (HS Code: 2914.40) are organic compounds that contain both ketone and alcohol or aldehyde functional groups. These chemicals are widely used in the pharmaceutical, cosmetic, and chemical industries as intermediates for the synthesis of various products, including fragrances, flavors, and active pharmaceutical ingredients (APIs). They play a critical role in industrial applications due to their unique chemical properties, which allow for versatile reactions and formulations.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 320 million
26.7% of total trade of total trade
Increasing
USD 250 million
20.8% of total trade of total trade
Stable
USD 180 million
15.0% of total trade of total trade
Increasing
USD 120 million
10.0% of total trade of total trade
Stable
USD 90 million
7.5% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Growing demand in pharmaceutical sector
Increased trade volume due to rising need for intermediates in drug synthesis, particularly for APIs in emerging markets.
2021-2022
Shift towards sustainable production
Manufacturers are adopting green chemistry practices, impacting supply chains and increasing costs but appealing to eco-conscious markets.
2020-2022
Rising competition from Asian producers
Lower production costs in countries like China and India are reshaping market dynamics, putting pressure on traditional exporters like Germany and the US.
2019-2022
The European Union introduced new REACH regulations affecting the import of ketone-alcohols and ketone-aldehydes, requiring detailed documentation on environmental impact.
March 2023
Increased compliance costs for exporters to the EU, potentially slowing trade but ensuring higher safety standards.
A new phase of trade negotiations reduced tariffs on specific chemical categories, including ketone-alcohols, fostering smoother trade between the two nations.
January 2023
Boosted trade volumes between the US and China, benefiting Chinese exporters and US importers in the short term.
Several Indian chemical companies announced investments in expanding production facilities for ketone-alcohols to meet growing domestic and international demand.
September 2022
Increased export potential from India, likely intensifying competition in the global market over the next few years.