HS Code:
The Oleyl category, often associated with oleyl alcohol or oleyl derivatives under HS Code 3823.70 (Industrial monocarboxylic fatty acids; acid oils from refining; industrial fatty alcohols), includes unsaturated fatty alcohols derived from natural fats and oils. These compounds are widely used in cosmetics, lubricants, surfactants, and as intermediates in chemical synthesis due to their emollient and emulsifying properties. Global trade in this category is driven by demand in personal care, industrial applications, and the shift towards bio-based chemicals.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
UN Comtrade Database, International Trade Centre (ITC)
USD 350 million
29.2% of total trade of total trade
Increasing
USD 280 million
23.3% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Stable
USD 120 million
10.0% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Increasing
Average Rate
5.8% ad valorem
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-ASEAN or USMCA)
Rising demand for bio-based chemicals
Increased production and export from palm oil-rich countries like Indonesia and Malaysia due to consumer preference for sustainable and natural ingredients in cosmetics and personal care products.
2021-2022
Technological advancements in oleochemical processing
Improved efficiency and lower production costs have boosted competitiveness of oleyl products in industrial applications, particularly in lubricants and surfactants.
2020-2022
Shift towards green cosmetics
Growing demand in Europe and North America for eco-friendly and cruelty-free personal care products has driven imports of oleyl alcohol derivatives.
2019-2022
The European Union introduced new regulations requiring sustainability certifications for palm-derived oleochemicals, including oleyl alcohol, to combat deforestation concerns.
June 2023
Exporters from Indonesia and Malaysia may face higher compliance costs, potentially affecting trade volumes to the EU market.
A recent phase of the US-China trade agreement reduced tariffs on certain oleochemical imports, including oleyl derivatives, to promote industrial cooperation.
March 2023
Increased exports from China to the US, potentially reshaping market shares among top exporters.
Indonesia announced investments in new oleochemical plants to boost production of fatty alcohols like oleyl alcohol, targeting export growth.
September 2022
Likely to solidify Indonesia's position as the leading exporter, potentially increasing global supply and stabilizing prices.