HS Code:
Resorcinol and its salts (HS Code: 290721) are organic chemical compounds primarily used in the production of resins, adhesives, dyes, and pharmaceuticals. Resorcinol, a dihydroxybenzene, is a critical raw material in the manufacture of tires, rubber products, and wood bonding agents. It also finds applications in cosmetics and dermatological treatments due to its antiseptic properties. The global trade of resorcinol and its salts is influenced by industrial demand, particularly from the automotive and construction sectors, as well as regulatory policies concerning chemical safety and environmental impact.
Total Trade Volume
Approximately $250 million USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$80 million USD
32% of total trade of total trade
Increasing
$60 million USD
24% of total trade of total trade
Stable
$40 million USD
16% of total trade of total trade
Increasing
$30 million USD
12% of total trade of total trade
Increasing
$20 million USD
8% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Rising demand in automotive and tire industries
Increased production and trade volumes, particularly in Asia-Pacific, driven by growth in vehicle manufacturing and demand for high-performance tires.
2021-2023
Shift toward sustainable production methods
Manufacturers are adopting greener technologies to comply with environmental regulations, increasing production costs but enhancing market access in eco-conscious regions like the EU.
2020-2022
Growing use in pharmaceuticals and cosmetics
Expanding applications in dermatological products are boosting demand, particularly in North America and Europe, though regulatory scrutiny on safety is tightening.
2019-2023
The European Union introduced stricter limits on resorcinol concentrations in cosmetic products due to potential health risks, requiring reformulation by manufacturers.
March 2023
This may reduce EU imports temporarily as suppliers adapt to new standards, potentially benefiting domestic producers.
Major Japanese chemical companies announced investments in expanding resorcinol production facilities to meet growing demand from the tire industry.
July 2022
This is expected to solidify Japanโs position as the leading exporter, potentially increasing global supply and stabilizing prices.
Ongoing trade disputes have led to fluctuating tariffs on Chinese resorcinol exports to the US, prompting US buyers to diversify supply chains.
October 2022
This has created opportunities for other exporters like Japan and Germany to gain market share in the US.