HS Code:
Nitrile-function compounds, classified under HS Code 2926, include organic compounds containing a nitrile group (-C≡N). These compounds are widely used in the chemical industry for the production of pharmaceuticals, agrochemicals, dyes, and plastics. Key examples include acetonitrile, acrylonitrile, and various cyanamides. The global trade of nitrile-function compounds is driven by demand in industrial applications, particularly in the synthesis of polymers like nitrile rubber and as intermediates in drug manufacturing. The market is influenced by raw material availability, environmental regulations, and technological advancements in production processes.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand for nitrile rubber in automotive and medical sectors
Increased production and export from major manufacturing hubs like China and South Korea, driving global trade growth by 8% annually
2021-2022
Shift towards sustainable production methods
Higher costs for producers adopting green technologies, but improved market access in regions with strict environmental regulations like the EU
2020-2022
Growing pharmaceutical applications
Boost in demand for nitrile intermediates, particularly in India and the US, contributing to a 5% rise in trade volume
2022
The European Union introduced provisional anti-dumping duties ranging from 8% to 15% on certain nitrile-function compounds from China to protect domestic producers.
March 2023
Potential shift in trade flows, with buyers in the EU looking to alternative suppliers like South Korea and Japan.
A leading South Korean chemical company announced the opening of a state-of-the-art facility for acrylonitrile production, increasing capacity by 20%.
June 2023
Expected to strengthen South Korea's position in the global market, potentially increasing export volumes by USD 100 million annually.
The US Environmental Protection Agency introduced stricter guidelines for the handling and disposal of nitrile compounds due to their toxicity.
September 2022
Increased compliance costs for importers and producers, potentially reducing trade volume by 3% in the short term.