HS Code:
Phenol-alcohols (HS Code: 2907.23) are organic compounds that combine the characteristics of phenols and alcohols, featuring both a hydroxyl group attached to an aromatic ring and additional alcohol groups. These chemicals are primarily used as intermediates in the production of resins, plastics, antioxidants, and pharmaceuticals. They are critical in industries such as automotive, construction, and healthcare due to their chemical stability and versatility.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 600 million
24% of total trade of total trade
Increasing
USD 500 million
20% of total trade of total trade
Stable
USD 400 million
16% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Stable
USD 200 million
8% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand for bio-based phenol-alcohols
Increased investment in sustainable chemical production, driven by environmental regulations and consumer preference for green products
2021-2023
Rising use in pharmaceutical applications
Boost in trade volume due to the expansion of drug manufacturing, particularly for antioxidants and antiseptics
2020-2022
Supply chain disruptions due to geopolitical tensions
Fluctuations in export volumes and price volatility due to trade barriers and shipping delays
2022
The European Union introduced stricter regulations on the import of chemical intermediates like phenol-alcohols to ensure compliance with sustainability goals under the Green Deal.
March 2023
Potential increase in production costs for exporters not meeting standards, but long-term benefits for sustainable producers.
A new bilateral agreement reduced tariffs on chemical intermediates, including phenol-alcohols, to stabilize supply chains post-pandemic.
January 2023
Expected increase in trade volume between the two countries, benefiting manufacturers and lowering costs for end-users.
A leading German chemical company announced a scalable method for producing phenol-alcohols from renewable sources, reducing reliance on petrochemicals.
September 2022
Likely to shift market dynamics towards sustainable alternatives, influencing trade patterns in favor of eco-friendly producers.