HS Code:
Solvent Yellow 114, chemically known as 2-(3-hydroxy-2-quinolyl)-1H-indene-1,3(2H)-dione (CAS No. 7576-65-0), is a synthetic organic coloring matter classified under HS Code 3204.19.25. It belongs to the category of solvent dyes, which are used primarily in the plastics, resins, and petroleum industries for coloring non-aqueous solvents, waxes, and lubricants. This dye is valued for its excellent heat stability and lightfastness, making it suitable for high-performance applications. Global trade in this product is niche but significant in industries requiring specialized colorants.
Total Trade Volume
Approximately $15 million USD
Data from 2022
Source
UN Comtrade Database and industry reports
$6.5 million USD
43.3% of total trade of total trade
Increasing
$3.2 million USD
21.3% of total trade of total trade
Increasing
$2.1 million USD
14.0% of total trade of total trade
Stable
$1.8 million USD
12.0% of total trade of total trade
Stable
$1.4 million USD
9.3% of total trade of total trade
Decreasing
Average Rate
6.5% ad valorem
Highest Rate
10% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in the plastics industry
Increased production and export from major suppliers like China and India due to growth in plastic manufacturing in Asia-Pacific
2021-2022
Shift towards eco-friendly alternatives
Pressure on traditional solvent dyes like Solvent Yellow 114 due to environmental regulations, leading to R&D for bio-based dyes
2020-2022
Supply chain disruptions
Price volatility and delayed shipments due to global logistics challenges and raw material shortages post-COVID-19
2021-2022
The European Union updated its REACH regulations, imposing stricter guidelines on the import and use of solvent dyes, including Solvent Yellow 114, to ensure environmental and consumer safety.
March 2023
Increased compliance costs for exporters to the EU, potentially reducing trade volume from non-compliant countries.
Major Chinese manufacturers announced investments in expanding production facilities for solvent dyes to meet rising global demand, particularly from the plastics sector.
January 2023
Likely to reinforce China's dominance in the market, potentially lowering prices due to economies of scale.
The Indian government rolled out incentives under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for chemical exports, including solvent dyes.
September 2022
Expected to boost India's export competitiveness, challenging other major players like China.