HS Code:
Phenazone (also known as Antipyrine) and its derivatives fall under the HS Code 2933.11. This category includes heterocyclic compounds with nitrogen hetero-atoms only, specifically focusing on phenazone, a pyrazolone derivative used primarily as an analgesic and antipyretic. These compounds are key intermediates in the pharmaceutical industry for producing pain-relief and anti-inflammatory drugs. The global trade of phenazone and its derivatives is influenced by demand in the pharmaceutical sector, regulatory frameworks, and production capacities in key manufacturing countries.
Total Trade Volume
USD 150 million
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 60 million
40% of total trade
Increasing
USD 30 million
20% of total trade
Increasing
USD 20 million
13.3% of total trade
Stable
USD 15 million
10% of total trade
Stable
USD 10 million
6.7% of total trade
Decreasing
Average Rate
6.5%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand for generic drugs
Increased trade volume as phenazone derivatives are used in cost-effective pain relief medications, especially in emerging markets
2021-2022
Shift towards sustainable production
Manufacturers in China and India are adopting greener synthesis methods to meet global environmental standards, influencing trade costs
2022
Regulatory tightening in key markets
Stricter import regulations in the EU and US are slowing down trade growth due to compliance costs
2020-2022
The European Union introduced provisional anti-dumping duties ranging from 8% to 10% on phenazone and its derivatives from China to protect domestic producers.
March 2023
This is expected to reduce Chinese market share in the EU, potentially benefiting Indian exporters.
Major Indian pharmaceutical companies announced investments in expanding production facilities for phenazone derivatives to meet growing global demand.
July 2023
This could position India as a leading exporter, challenging Chinaโs dominance in the market.
The US Food and Drug Administration released updated guidelines for importing pharmaceutical intermediates, including phenazone derivatives, emphasizing stricter quality controls.
September 2023
Smaller exporters may face challenges in meeting these standards, potentially consolidating trade among larger players.