HS Code:
Pigment Blue 15:1, classified under HS Code 320417, is a synthetic organic pigment belonging to the phthalocyanine family. It is widely used in various industries, including paints, coatings, plastics, textiles, and printing inks, due to its excellent color strength, lightfastness, and chemical stability. This pigment variant, stabilized with specific additives, offers superior performance in high-end applications compared to other blue pigments. It is particularly valued for its heat resistance and compatibility with diverse media.
Total Trade Volume
USD 250 million
Data from 2022
Source
UN Comtrade Database & International Trade Centre (ITC)
Average Rate
5.5%
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-India FTA for specific partners)
Growing demand in the automotive coatings sector
Increased consumption of Pigment Blue 15:1 in high-performance paints for vehicles, driving export growth from China and India
2021-2022
Shift towards eco-friendly pigments
Pressure on manufacturers to develop sustainable production processes, influencing pricing and market access in regions with strict environmental regulations like the EU
2020-2022
Rising production costs due to raw material shortages
Fluctuations in supply chains for phthalocyanine intermediates have led to price volatility, impacting smaller exporters
2022
The European Union updated its REACH regulations, mandating stricter chemical safety assessments for imported pigments, including Pigment Blue 15:1, to ensure environmental and health safety.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volumes from non-compliant suppliers while benefiting those with certified processes.
Major Indian pigment manufacturers announced investments in new facilities to boost Pigment Blue 15:1 production, aiming to capture a larger share of the global market.
June 2023
Likely to intensify competition with Chinese exporters, potentially leading to price reductions and increased supply to regions like Southeast Asia and Africa.
Ongoing trade disputes have led to additional tariffs on Chinese pigment exports to the US, prompting buyers to seek alternative suppliers in India and Europe.
January 2023
Diversification of supply chains away from China, benefiting other exporting nations but causing short-term supply disruptions in the US market.