HS Code:
Paraformaldehyde (HS Code: 291260) is a white crystalline solid formed by the polymerization of formaldehyde. It is widely used as a disinfectant, fungicide, and in the production of resins, adhesives, and other industrial chemicals. It serves as a convenient source of formaldehyde in various applications due to its stability and ease of handling compared to liquid formaldehyde solutions. The global trade of paraformaldehyde is driven by demand in industries such as agriculture, construction, and manufacturing.
Total Trade Volume
Approximately $500 million USD
Data from 2022
Source
United Nations Comtrade Database & International Trade Centre (ITC)
$200 million USD
40% of total trade of total trade
Increasing
$80 million USD
16% of total trade of total trade
Stable
$60 million USD
12% of total trade of total trade
Increasing
$40 million USD
8% of total trade of total trade
Stable
$30 million USD
6% of total trade of total trade
Increasing
Average Rate
5.5% ad valorem
Highest Rate
10% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA or USMCA)
Rising demand in resin production
Increased trade volume in regions with growing construction and automotive industries, particularly in Asia-Pacific
2021-2022
Shift towards eco-friendly alternatives
Moderate decline in demand in regions with stringent environmental regulations like the EU
2020-2022
Growth in agricultural applications
Higher exports to countries with large agricultural sectors, such as India and Brazil
2019-2022
China has ramped up production capacity for paraformaldehyde, leading to a significant increase in exports, particularly to Southeast Asia and Europe.
Mid-2022
Downward pressure on global prices, benefiting importers but challenging smaller producers
The European Union introduced stricter regulations on the use of formaldehyde-based products due to health and environmental concerns.
Early 2023
Potential reduction in demand for paraformaldehyde in the EU market, pushing exporters to focus on other regions
The United States adjusted tariffs on chemical imports, including paraformaldehyde, as part of trade negotiations with key partners.
Late 2022
Mixed effects, with some exporters facing higher costs while others benefit from exemptions under trade agreements