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📦 Mixtures of hydrocarbons not elsewhere specified or included, which contain not over 50 percent of any single hydrocarbon compound

Mixtures of hydrocarbons not elsewhere specified or included, which contain not over 50 percent of any single hydrocarbon compound

HS Code:

📦

Overview

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

Tariff Analysis

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)

Common Restrictions

  • Import quotas in select countries to control domestic market saturation
  • Environmental regulations requiring specific composition or emission standards
  • Licensing requirements for handling and transport due to hazardous nature

Market Trends

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

Recent Developments

EU Environmental Regulation Update

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.

US-China Trade Agreement

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.

Investment in Refining Capacity in Asia

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.