HS Code:
The product category 'Belting, for machinery, of plastic, containing textile components, in which man-made or vegetable fiber do not predominate by weight over any other textile fiber, of a width exceeding 120 cm, but not more than 171 cm' (HS Code: 3926.90.59) pertains to specialized plastic belting used in industrial machinery. These belts incorporate textile components for reinforcement, but no single type of fiber (man-made or vegetable) dominates by weight. This category is critical for various industrial applications, including conveyor systems and power transmission in manufacturing and processing industries. The specific width range (120 cm to 171 cm) indicates its use in medium to large-scale machinery setups.
Total Trade Volume
USD 250 million
Data from 2022
Source
United Nations Comtrade Database
USD 60 million
24% of total trade of total trade
Increasing
USD 45 million
18% of total trade of total trade
Stable
USD 40 million
16% of total trade of total trade
Increasing
USD 30 million
12% of total trade of total trade
Stable
USD 25 million
10% of total trade of total trade
Decreasing
Average Rate
5.3% ad valorem
Highest Rate
8% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for automation
Increased need for durable machinery belting in automated manufacturing lines, driving market growth by 6% annually.
2021-2022
Shift towards sustainable materials
Growing pressure to use eco-friendly plastics and recyclable textile components, influencing production costs and market preferences.
2020-2022
Supply chain disruptions
COVID-19 related delays and raw material shortages led to a temporary 3% decline in trade volume in 2020, with recovery ongoing.
2020-2021
The European Union introduced stricter regulations on the use of non-recyclable plastics in industrial products, impacting the production of plastic belting.
January 2023
Manufacturers are adapting by investing in sustainable alternatives, potentially increasing costs by 5-10% in the short term.
A new phase of the US-China trade agreement reduced tariffs on industrial components, including plastic belting, from 7% to 3%.
March 2022
Boosted exports from China to the US, contributing to a 4% rise in trade volume for this category.
Major manufacturers in Germany and Japan introduced lightweight, high-strength plastic belting with advanced textile reinforcement.
September 2022
Enhanced product durability and efficiency, expected to drive a 5% market share increase for innovating countries.