Sector footprint
$319.6M in exports
Reported chemicals exports in 2024 across 32 qualifying HS6 products.
Sector export playbook ยท HS 28-38
Iceland Chemicals exports
where capability meets demand
Explore Iceland's HS 28-38 product portfolio, buyer markets, growth signals, and diversification opportunities. Use this guide to prioritize research, not to treat calculated indicators as guaranteed sales.
Sector exports$319.6M2024 reported value
Products32Qualifying HS6 products
Buyer markets30Markets represented
Average CAGR+57.9%Product-level growth signal
Global sector size$719.7BReported buyer imports
Chemicals capability
How strong is Iceland in this sector?
Compare exporter scale with product breadth, buyer demand, growth, and destination reach. A large sector does not remove the need for product, compliance, pricing, and buyer validation.
Global demand
$719.7B buyer imports
The sector's reported buyer import base provides context for product and market prioritization.
How to use the guide
Find the next credible move
Start with products that combine demand and exporter capability, then validate standards, route economics, buyers, and competition.
Product portfolio
Which products anchor the sector?
Each HS6 product is ranked by calculated opportunity and shown with reported market size, exporter exports, growth, and destination reach.
| Product | Global size | Your exports | Opportunity | CAGR | Markets | Share |
|---|---|---|---|---|---|---|
| HS 300490Medicaments: consisting of mixed or unmixed products n.e.s. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale | $313.2B | $26.4M | $117.6B | +13.6% | 23 | +0.0% |
| HS 300215Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale | $147.2B | $269.3M | $58.0B | +256.4% | 11 | +0.2% |
| HS 293719Polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts | $29.9B | $8.3M | $48.0B | +24.8% | 4 | +0.1% |
| HS 300214Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, mixed, put up in measured doses or in forms or packings for retail sale | $35.3B | $6.1M | $36.8B | +477.9% | 7 | +0.0% |
| HS 382499Chemical products, mixtures and preparations: n.e.c. heading 3824 | $26.3B | $47.4K | $16.9B | -20.5% | 10 | +0.0% |
| HS 300212Blood, human or animal, antisera, other blood fractions and immunological products: antisera and other blood fractions | $25.5B | $30.3K | $14.2B | +33.1% | 6 | +0.0% |
| HS 300220Vaccines: for human medicine | $14.5B | $1.2K | $10.1B | -16.5% | 2 | +0.0% |
| HS 382200Reagents: diagnostic or laboratory reagents on a backing and prepared diagnostic or laboratory reagents whether or not on a backing, other than those of heading no. 3002 or 3006: certified reference material | $19.8B | $140.2K | $9.1B | +7.9% | 6 | +0.0% |
| HS 330499Cosmetic and toilet preparations: n.e.c. in heading no. 3304, for the care of the skin (excluding medicaments, including sunscreen or sun tan preparations) | $20.4B | $3.4M | $8.8B | +31.1% | 5 | +0.0% |
| HS 293499Nucleic acids and their salts, other heterocyclic compounds, n.e.c. in heading number 2934 | $13.4B | $6.2K | $8.5B | -4.2% | 3 | +0.0% |
| HS 330210Odoriferous substances and mixtures: of a kind used in the food or drink industries | $5.5B | $409.8 | $7.1B | -15.3% | 2 | +0.0% |
| HS 300439Medicaments: containing hormones (but not insulin), adrenal cortex hormones or antibiotics, for therapeutic or prophylactic uses, packaged for retail sale | $9.4B | $106.9K | $6.6B | -7.0% | 4 | +0.0% |
| HS 293399Heterocyclic compounds: n.e.c. in headings no. 2933 | $7.6B | $24.5 | $5.8B | -33.5% | 2 | +0.0% |
| HS 330300Perfumes and toilet waters | $8.5B | $134.8K | $5.0B | -2.5% | 3 | +0.0% |
| HS 293379Heterocyclic compounds: lactams: other than 6-hexanelactam (epsilon caprolactam) | $4.2B | $3.8 | $4.8B | -3.9% | 1 | +0.0% |
| HS 293359Heterocyclic compounds: containing a pyrimidine ring (whether or not hydrogenated) or piperazine ring in the structure, (other than malonylurea (barbituric acid) and its derivatives),and loprazolam, mecloqualone, methaqualone, zipeprol and salts thereof | $3.5B | $2.0 | $3.2B | -18.7% | 1 | +0.0% |
| HS 381800Chemical elements: doped for use in electronics, in the form of discs, wafers or similar forms: chemical compounds doped for use in electronics | $5.2B | $19.1K | $2.8B | -11.7% | 2 | +0.0% |
| HS 382600Biodiesel and mixtures thereof: not containing or containing less than 70% by weight of petroleum oils or oils obtained from bituminous minerals | $4.8B | $53.0K | $2.8B | +5.0% | 1 | +0.0% |
| HS 300390Medicaments: (not containing antibiotics, hormones, alkaloids or their derivatives), for therapeutic or prophylactic uses, (not packaged for retail sale) | $3.8B | $10.7K | $2.2B | -2.3% | 2 | +0.0% |
| HS 293299Heterocyclic compounds: with oxygen hetero-atom(s) only, no lactones or unfused furan rings (hydrogenated or not) in the structure, other than isosafrole, 1-(1,3-benzodiaxol-5-yl) propan-2-one, piperonal, safrole, tetrahydrocannabinols (all isomers) | $2.4B | $2.3 | $2.0B | -39.9% | 1 | +0.0% |
| HS 300290Toxins, cultures of micro-organisms (excluding yeasts) and similar products | $3.6B | $5.3M | $1.8B | +22.1% | 2 | +0.3% |
| HS 281820Aluminium oxide: other than artificial corundum | $2.2B | $31.6 | $1.8B | +12.0% | 1 | +0.0% |
| HS 300670Pharmaceutical goods: Gel preparations designed to be used in human or veterinary medicine as a lubricant for parts of the body for surgical operations or physical examinations or as a coupling agent between the body and medical instruments | $1.2B | $196.0K | $1.4B | +14.4% | 1 | +0.0% |
| HS 340220Washing and cleaning preparations: surface-active, whether or not containing soap (excluding those of heading no. 3401), put up for retail sale | $1.2B | $232.8 | $1.4B | -4.3% | 1 | +0.0% |
| HS 290919Ethers: acyclic, and their halogenated, sulphonated, nitrated or nitrosated derivatives, other than diethyl ether | $2.0B | $176.6 | $1.3B | -4.8% | 1 | +0.0% |
| HS 290110Acyclic hydrocarbons: saturated | $916.4M | $1.8K | $1.3B | -37.4% | 1 | +0.0% |
| HS 284410Uranium: natural uranium and its compounds, alloys, dispersions (including cermets), ceramic products and mixtures containing natural uranium or natural uranium compounds | $1.2B | $0.0 | $1.1B | -66.7% | 1 | +0.0% |
| HS 321590Ink: writing, drawing and other inks, n.e.c. in heading no. 3215, whether or not concentrated or solid | $674.3M | $14.7K | $1.1B | +40.3% | 1 | +0.1% |
| HS 290511Alcohols: saturated monohydric, methanol (methyl alcohol) | $2.7B | $170.4 | $901.3M | -47.9% | 1 | +0.0% |
| HS 293339Heterocyclic compounds: containing an unfused pyridine ring (whether or not hydrogenated) in the structure, other than pyridine and its salts, other than piperidine and its salts | $1.6B | $7.9 | $871.2M | -38.6% | 1 | +0.0% |
| HS 330290Odoriferous substances and mixtures: used as raw materials in industries other than the food or drink industries | $1.3B | $62.6 | $803.3M | -31.7% | 1 | +0.0% |
| HS 310520Fertilizers, mineral or chemical: containing the three fertilizing elements nitrogen, phosphorus and potassium | $589.9M | $29.2K | $797.1M | -75.5% | 1 | +0.9% |
Best markets
Where does sector demand concentrate?
Markets are ranked by calculated opportunity across the qualifying products in this sector view.
USA
USA, Puerto Rico and US Virgin Islands
16 products represented in the sector.
$134.7B$238.7B reported buyer importsDEU
Germany
15 products represented in the sector.
$41.0B$90.2B reported buyer importsCHE
Switzerland, Liechtenstein
4 products represented in the sector.
$35.1B$56.7B reported buyer importsITA
Italy
4 products represented in the sector.
$22.9B$32.9B reported buyer importsCHN
China
7 products represented in the sector.
$22.6B$49.4B reported buyer importsNLD
Netherlands
6 products represented in the sector.
$20.7B$35.7B reported buyer importsBEL
Belgium
4 products represented in the sector.
$13.3B$27.8B reported buyer importsCAN
Canada
7 products represented in the sector.
$11.6B$19.2B reported buyer importsGBR
United Kingdom
6 products represented in the sector.
$11.5B$26.8B reported buyer importsFRA
France
6 products represented in the sector.
$9.8B$26.0B reported buyer importsSVN
Slovenia
1 products represented in the sector.
$9.7B$7.6B reported buyer importsJPN
Japan
4 products represented in the sector.
$9.1B$23.4B reported buyer importsGrowth stars
Which products show the strongest growth?
Average product-level CAGR is a screening signal. Confirm the latest trend, base effects, buyer quality, and commercial feasibility before acting.
| Product | Average CAGR | Opportunity | Markets |
|---|---|---|---|
| HS 300214Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, mixed, put up in measured doses or in forms or packings for retail sale | +477.9% | $36.8B | 7 |
| HS 300215Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale | +256.4% | $58.0B | 11 |
| HS 321590Ink: writing, drawing and other inks, n.e.c. in heading no. 3215, whether or not concentrated or solid | +40.3% | $1.1B | 1 |
| HS 300212Blood, human or animal, antisera, other blood fractions and immunological products: antisera and other blood fractions | +33.1% | $14.2B | 6 |
| HS 330499Cosmetic and toilet preparations: n.e.c. in heading no. 3304, for the care of the skin (excluding medicaments, including sunscreen or sun tan preparations) | +31.1% | $8.8B | 5 |
| HS 293719Polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts | +24.8% | $48.0B | 4 |
| HS 300290Toxins, cultures of micro-organisms (excluding yeasts) and similar products | +22.1% | $1.8B | 2 |
| HS 300670Pharmaceutical goods: Gel preparations designed to be used in human or veterinary medicine as a lubricant for parts of the body for surgical operations or physical examinations or as a coupling agent between the body and medical instruments | +14.4% | $1.4B | 1 |
| HS 300490Medicaments: consisting of mixed or unmixed products n.e.s. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale | +13.6% | $117.6B | 23 |
| HS 281820Aluminium oxide: other than artificial corundum | +12.0% | $1.8B | 1 |
Diversification opportunities
Which products reach the widest buyer base?
Destination count is a simple breadth indicator. It does not measure destination concentration or guarantee resilience.
HS 300490
Medicaments: consisting of mixed or unmixed products n.e.s. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale
23 markets$117.6B calculated opportunityHS 300215
Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, put up in measured doses or in forms or packings for retail sale
11 markets$58.0B calculated opportunityHS 382499
Chemical products, mixtures and preparations: n.e.c. heading 3824
10 markets$16.9B calculated opportunityHS 300214
Blood, human or animal, antisera, other blood fractions and immunological products: immunological products, mixed, put up in measured doses or in forms or packings for retail sale
7 markets$36.8B calculated opportunityHS 300212
Blood, human or animal, antisera, other blood fractions and immunological products: antisera and other blood fractions
6 markets$14.2B calculated opportunityHS 382200
Reagents: diagnostic or laboratory reagents on a backing and prepared diagnostic or laboratory reagents whether or not on a backing, other than those of heading no. 3002 or 3006: certified reference material
6 markets$9.1B calculated opportunityHS 330499
Cosmetic and toilet preparations: n.e.c. in heading no. 3304, for the care of the skin (excluding medicaments, including sunscreen or sun tan preparations)
5 markets$8.8B calculated opportunityHS 293719
Polypeptide hormones, protein hormones and glycoprotein hormones, their derivatives and structural analogues: other than somatotropin, (its derivatives and structural anaologues) and insulin and its salts
4 markets$48.0B calculated opportunityFrequently asked questions
Using the Chemicals export playbook
Practical guidance for interpreting sector scale, growth, product breadth, and buyer markets.
How strong is Iceland in this sector?
Compare sector exports, product breadth, buyer markets, growth, and global demand. These signals identify research priorities rather than guarantee market access.
What are growth stars?
Products with higher average reported growth in the screened rows. Validate the time period, base effects, buyer demand, and current exporter position.
What does diversification mean here?
Products reaching more buyer markets in the screened data. Destination breadth is useful context but does not replace concentration, route, or buyer analysis.
Data source
OECD trade statistics with CEPII context
OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-30). OECD BIMTS is the primary trade series for this view. Supporting bilateral trade context uses CEPII BACI bilateral trade flows (202601) under Etalab 2.0 Open Licence. Yugalinks presents derived views of reported observations and calculated indicators. Data terms: OECD Terms & Conditions.