HS Code:
Preparations containing 12-hydroxy-9-octadecenoic acid (Ricinoleic acid) under CAS No. 141-22-0, classified under HS Code 3811.21.00, are specialized chemical additives primarily used as diluents in lubricants. Ricinoleic acid, derived from castor oil, enhances the viscosity and stability of lubricants, making it a critical component in industrial and automotive applications. These preparations are vital in reducing friction and wear in machinery, contributing to efficiency and longevity of equipment. The global trade of this product category is driven by demand in manufacturing and automotive sectors, with production often tied to regions with access to castor oil resources.
Total Trade Volume
Approximately $150 million USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$60 million USD
40% of total trade of total trade
Increasing
$30 million USD
20% of total trade of total trade
Stable
$25 million USD
16.7% of total trade of total trade
Increasing
$15 million USD
10% of total trade of total trade
Stable
$10 million USD
6.7% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
8% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as USMCA and EU-India FTA)
Rising demand for bio-based lubricants
Increased use of ricinoleic acid-based diluents as sustainable alternatives to synthetic additives, driving market growth in eco-conscious regions like the EU.
2021-2023
Fluctuations in castor oil supply
Price volatility due to weather-related disruptions in major castor-producing regions like India, affecting production costs and trade volumes.
2020-2022
Technological advancements in lubricant formulations
Development of high-performance lubricants requiring specialized diluents, boosting demand for ricinoleic acid preparations in industrial applications.
2019-2023
India, the leading exporter, has invested in new processing facilities to meet growing global demand for ricinoleic acid derivatives, enhancing export capabilities.
March 2023
Expected to stabilize supply chains and potentially lower prices for importing countries.
The European Union introduced stricter environmental and safety standards for lubricant additives, including ricinoleic acid preparations, requiring additional compliance measures.
January 2023
May increase production costs for exporters to the EU, potentially shifting trade to less regulated markets.
Recent trade negotiations have reduced tariffs on chemical additives, including HS 3811.21.00, fostering increased trade between the two nations.
September 2022
Likely to boost export volumes from China to the US, intensifying competition with other suppliers.