HS Code:
Mixtures of hydrocarbons not elsewhere specified or included, which contain not over 50 percent of any single hydrocarbon compound (HS Code: 2707.99), encompass a variety of hydrocarbon blends used primarily in industrial applications, including as solvents, fuels, or intermediates in chemical manufacturing. These mixtures do not fit into more specific hydrocarbon categories and are characterized by their diverse composition, making them versatile for niche industrial uses. They are often derived from petroleum refining processes or other hydrocarbon processing activities.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12.0% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0.0% (under free trade agreements or for WTO members in specific regions)
Growing demand in industrial solvent applications
Increased trade volume as manufacturing sectors in Asia-Pacific expand
2021-2022
Shift toward sustainable alternatives
Potential decline in demand for hydrocarbon mixtures as bio-based solvents gain traction
2022-2023
Fluctuations in crude oil prices
Direct impact on production costs and trade pricing, affecting competitiveness
2020-2022
The European Union introduced stricter regulations on hydrocarbon mixtures to reduce environmental impact, requiring lower volatile organic compound (VOC) content.
January 2023
Exporters to the EU market may face higher compliance costs, potentially reducing trade volumes or shifting focus to other regions.
A new bilateral agreement reduced tariffs on certain chemical products, including hydrocarbon mixtures, between the US and China.
March 2022
Boosted trade between the two countries, with an observed 15% increase in export volumes from the US to China in 2022.
Major investments in refining capacity in South Korea and Singapore are expected to increase the supply of hydrocarbon mixtures in the Asia-Pacific region.
September 2022
Potential oversupply could lower prices regionally, affecting global trade dynamics.