HS Code:
Pigment Red 122, classified under HS Code 320417, is a high-performance organic pigment widely used in the coatings, plastics, and printing ink industries. Known for its excellent lightfastness, heat resistance, and vibrant magenta color, it is particularly favored in automotive coatings, industrial paints, and high-quality printing applications. This pigment belongs to the quinacridone family, offering superior durability and chemical stability, making it a preferred choice for applications requiring long-term color retention.
Total Trade Volume
Approximately $150 million USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$60 million USD
40% of global trade of total trade
Increasing
$30 million USD
20% of global trade of total trade
Stable
$25 million USD
16.7% of global trade of total trade
Increasing
$15 million USD
10% of global trade of total trade
Stable
$10 million USD
6.7% of global trade of total trade
Decreasing
Average Rate
5.5% ad valorem
Highest Rate
10% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand in automotive coatings
Increased consumption in emerging markets like India and Southeast Asia due to rising automobile production.
2021-2022
Shift towards sustainable pigments
Manufacturers are investing in eco-friendly production methods to comply with stricter environmental regulations in Europe and North America.
2020-2022
Price volatility due to raw material costs
Fluctuations in the cost of petrochemical derivatives have led to unstable pricing, affecting profit margins for smaller manufacturers.
2022
The European Union has introduced stricter guidelines under REACH for the use of quinacridone pigments, focusing on reducing environmental impact during production.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing profit margins but improving market access for compliant manufacturers.
China has ramped up production capacity for Pigment Red 122, benefiting from economies of scale and lower production costs, leading to a significant increase in exports.
January 2023
Intensified global competition, putting pressure on prices and challenging manufacturers in higher-cost regions like Europe and the US.
Ongoing trade disputes have led to additional tariffs on Chinese pigment exports to the US, prompting US buyers to explore alternative suppliers in India and Europe.
October 2022
Diversification of supply chains, with potential growth opportunities for Indian and European manufacturers.