HS Code:
Braiding and lace-braiding machines (HS Code: 8447.20) fall under the category of machinery for producing textiles, specifically used in the manufacturing of braided fabrics, lace, and similar materials. These machines are critical in the textile industry for creating intricate patterns and designs used in clothing, upholstery, and industrial applications. The category includes both industrial-scale machinery and smaller units for specialized production. Global trade in this category is influenced by the demand for textiles, advancements in automation, and shifts in manufacturing hubs toward cost-effective regions.
Total Trade Volume
USD 250 million
Data from 2022
Source
United Nations Comtrade Database
USD 70 million
28% of total trade of total trade
Increasing
USD 50 million
20% 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 20 million
8% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Automation and digitization of braiding machines
Increased demand for high-tech machines with precision controls, driving trade in advanced economies like Germany and Japan
2021-2022
Shift of textile manufacturing to Asia-Pacific
Rising exports from China and South Korea due to lower production costs and growing textile industries in the region
2020-2022
Sustainability focus in textile production
Growing interest in eco-friendly machines that reduce energy consumption, influencing buyer preferences in Europe
2022
The European Union introduced updated safety and environmental standards for textile machinery, including braiding machines, under Regulation (EU) 2023/1230.
June 2023
Exporters to the EU must comply with stricter requirements, potentially increasing costs but ensuring higher safety standards.
China announced investments in domestic manufacturing of advanced braiding machines to reduce reliance on imports and boost exports.
March 2023
Likely to increase Chinaโs market share in the global trade of braiding machines over the next few years.
Ongoing trade disputes have led to fluctuating tariffs on Chinese-made textile machinery, including braiding machines, entering the US market.
January 2023
Uncertainty for importers and potential shifts to alternative suppliers like Germany or South Korea.