Derivatives of hydrocarbons n.e.c. in heading no. 2904, whether or not halogenated

In 2024, derivatives of hydrocarbons n.e.c. in heading no. 2904, whether or not halogenated trade exhibited significant decline, with global flows reaching $264,046,321 and a three-year compound annual growth rate of -16.0% (five-year: -4.9%). The all-time peak of $445,896,236 was recorded in 2021; the current level is 41% below that high-water mark.

Over the 30-year observation window (1995–2024), 41% of years recorded positive growth, indicating significant cyclicality with frequent contractions. Trend momentum is decelerating (-15.2% acceleration).

The supply side is concentrated (Herfindahl-Hirschman Index 0.345). The three largest exporters — China ($147.6M), Kuwait ($44.6M), and India ($42.7M) — collectively dominate supply flows. The leading exporter has grown at -10.5% over the last three years.

On the demand side, importer concentration is diversified (HHI 0.106). The three largest import markets are India ($70.5M), Japan ($27.5M), and South Korea ($18.2M). The largest importing market sources from 21 different supplying countries.

The dominant trade corridor is China → India at $64.3M, representing 91.2% of the importer's total demand.

The volatility score for derivatives of hydrocarbons n.e.c. in heading no. 2904, whether or not halogenated is 16 out of 100, classified as low. Trade flows are relatively stable compared to other HS6 products, suggesting mature supply chains and predictable demand.

For market entrants, contracting demand signals caution before committing resources. The concentrated supply structure suggests high barriers but also potential opportunity if dominant suppliers face disruption or capacity constraints.

Data confidence is rated "High" based on reporting coverage and consistency across OECD member and partner countries.