HS Code:
Methyl (2E)-3-phenylacrylate, commonly known as Methyl cinnamate (CAS No. 103-26-4), falls under HS Code 2916.39.21. It is an organic compound primarily used in the fragrance and flavor industry due to its sweet, balsamic, and fruity aroma reminiscent of cinnamon. It is often utilized in perfumes, cosmetics, and as a flavoring agent in food products. Additionally, it serves as a precursor in the synthesis of various chemical compounds. This product is part of the broader category of unsaturated aromatic monocarboxylic acids, their anhydrides, halides, peroxides, peroxyacids, and derivatives.
Total Trade Volume
Approximately $15 million USD
Data from 2022
Source
United Nations Comtrade Database & Industry Reports
$6.5 million USD
43.3% of total trade of total trade
Increasing
$3.2 million USD
21.3% of total trade of total trade
Increasing
$2.1 million USD
14.0% of total trade of total trade
Stable
$1.8 million USD
12.0% of total trade of total trade
Stable
$1.4 million USD
9.3% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
10% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-US trade pacts)
Rising demand in fragrance and flavor industries
Increased production and export from major suppliers like China and India due to growing consumer markets in Asia-Pacific and Europe
2021-2022
Shift towards natural and sustainable sources
Pressure on manufacturers to adopt greener synthesis methods or source bio-based alternatives, affecting cost structures
2022
Fluctuations in raw material prices
Price volatility of cinnamic acid and related inputs impacting profit margins for producers
2020-2022
The European Union introduced stricter guidelines on the use of chemical compounds in cosmetics, including Methyl cinnamate, requiring detailed safety assessments.
June 2023
Potential increase in compliance costs for exporters to the EU, possibly reducing trade volumes in the short term.
Major Chinese manufacturers announced plans to expand production facilities for Methyl cinnamate to meet rising global demand.
March 2023
Likely to strengthen China's dominance in the market, potentially lowering global prices due to increased supply.
The United States revised tariffs on certain chemical imports, including products under HS 2916.39, as part of trade negotiations.
January 2023
May affect the competitiveness of imports from non-FTA countries, benefiting domestic producers or FTA partners.