HS Code:
Ultramarine and preparations based thereon, classified under HS Code 320641, include synthetic inorganic pigments primarily used for coloring in industries such as plastics, paints, coatings, and textiles. Ultramarine blue, the most common variant, is valued for its vibrant color, heat stability, and resistance to light and chemicals. This category also encompasses preparations and mixtures that use ultramarine as a base. The global trade of ultramarine pigments is driven by demand in industrial and consumer goods manufacturing, with significant production and consumption in regions with strong chemical and textile industries.
Total Trade Volume
USD 250 million
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU internal trade or USMCA)
Shift toward eco-friendly pigments
Increased demand for sustainably produced ultramarine pigments as industries face pressure to adopt greener practices, influencing production costs and market prices.
2021-2023
Growth in Asia-Pacific region
Rising industrialization and textile production in countries like India and China have boosted demand, making the region a dominant player in both production and export.
2020-2022
Technological advancements in synthetic pigments
Innovations in manufacturing processes have improved the quality and reduced the cost of ultramarine pigments, enhancing competitiveness against alternative colorants.
2019-2023
The European Union introduced new regulations on the chemical composition and production processes of inorganic pigments, including ultramarine, to reduce environmental impact.
March 2023
Exporters to the EU market may face higher compliance costs, potentially shifting trade patterns toward less regulated markets.
Major Indian pigment manufacturers announced investments in expanding ultramarine production facilities to meet growing domestic and international demand.
July 2022
This development strengthens India's position as a leading exporter, potentially lowering global prices due to increased supply.
Ongoing trade disputes led to the imposition of additional tariffs on Chinese ultramarine exports to the US, prompting buyers to source from alternative markets like India.
October 2022
Diversification of supply chains and increased costs for US importers, potentially benefiting other exporting nations.