HS Code:
Medium oil fractions containing more than 50 percent by weight of isohexadecane (CAS No. 93685-80-4) fall under HS Code 2710.19.90, which pertains to petroleum oils and oils obtained from bituminous minerals, other than crude, and preparations not elsewhere specified or included. These fractions are typically used as base oils or intermediates in the production of lubricants, hydraulic fluids, and other industrial applications. Isohexadecane, a branched hydrocarbon, contributes to the stability and performance characteristics of these products under varying temperature and pressure conditions. This category is critical in industries such as automotive, manufacturing, and energy due to the specialized nature of the oil fractions.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$350 million USD
29.2% of total trade of total trade
Increasing
$200 million USD
16.7% of total trade of total trade
Stable
$150 million USD
12.5% of total trade of total trade
Increasing
$120 million USD
10.0% of total trade of total trade
Stable
$100 million USD
8.3% of total trade of total trade
Increasing
Average Rate
5.5% ad valorem
Highest Rate
10% (applied by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-US or ASEAN)
Rising demand for high-performance lubricants
Increased trade volume due to growth in automotive and industrial sectors, particularly in Asia-Pacific and North America
2021-2022
Shift towards sustainable and bio-based alternatives
Potential reduction in demand for traditional petroleum-based medium oil fractions as industries adopt greener solutions
2022-2023
Fluctuations in crude oil prices
Direct influence on production costs and trade margins, causing volatility in export-import pricing
2020-2022
The European Union's Green Deal has introduced stricter regulations on petroleum-derived products, including medium oil fractions, to reduce carbon footprints. This has led to increased compliance costs for exporters.
January 2023
Potential reduction in EU imports of non-compliant oil fractions; push for innovation in cleaner refining processes.
Phase 2 negotiations of the US-China trade agreement have included discussions on reducing tariffs for petroleum products, potentially benefiting exporters of medium oil fractions.
March 2023
Possible increase in trade volume between the US and China if tariffs are lowered.
Singapore has announced plans to expand its refining capacity for specialized petroleum products, including medium oil fractions, to meet growing regional demand in Asia.
July 2023
Likely increase in Singapore’s export share and influence on regional pricing dynamics.