HS Code:
Natural micaceous iron oxides (HS Code: 2530.90) are mineral substances primarily composed of iron oxide with a lamellar structure, often used as a pigment in paints, coatings, and other industrial applications due to their anti-corrosive properties and aesthetic appeal. This category includes naturally occurring iron oxides that have not been synthetically processed. They are valued for their durability, resistance to weathering, and ability to provide a metallic luster in end products. The global trade of micaceous iron oxides is driven by demand in construction, automotive, and marine industries for protective coatings.
Total Trade Volume
Approximately $50 million USD
Data from 2022
Source
UN Comtrade Database and International Trade Centre (ITC)
$15 million USD
30% of total trade of total trade
Increasing
$10 million USD
20% of total trade of total trade
Stable
$8 million USD
16% of total trade of total trade
Increasing
$5 million USD
10% of total trade of total trade
Stable
$4 million USD
8% of total trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-India FTA for specific partners)
Growing demand in anti-corrosion coatings
Increased trade volume as marine and infrastructure sectors expand, especially in Asia-Pacific regions
2021-2023
Shift towards sustainable mining practices
Higher production costs but improved market access in environmentally conscious regions like the EU
2020-2022
Competition from synthetic iron oxides
Pressure on natural micaceous iron oxide prices, leading to market share challenges in cost-sensitive regions
2019-2023
India announced investments in mining infrastructure to boost the extraction and export of natural micaceous iron oxides, targeting markets in Southeast Asia and the Middle East.
March 2023
Likely to increase India's share in global trade, potentially lowering prices due to higher supply.
The European Union introduced stricter regulations on the import of mineral pigments, including micaceous iron oxides, requiring detailed environmental impact assessments from exporters.
January 2023
May restrict market access for non-compliant exporters while benefiting those with sustainable practices.
Ongoing trade disputes have led to fluctuating tariff rates on Chinese exports of micaceous iron oxides to the US, causing uncertainty in supply chains.
October 2022
Potential shift in trade routes as US importers look for alternative suppliers like India or Austria.