HS Code:
The Buckets and Pails category, classified under HS Code 3926.90 (for plastic buckets and pails) and 7326.90 (for metal buckets and pails), includes containers typically used for carrying liquids, solids, or other materials. These products are essential in various industries, including construction, agriculture, household use, and industrial applications. They are manufactured from materials like plastic, steel, or aluminum, with designs varying based on durability, capacity, and intended use. Global trade in this category is influenced by factors such as raw material availability, manufacturing costs, and demand from end-use sectors.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Increasing
USD 80 million
6.7% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Shift towards sustainable materials
Increased demand for buckets and pails made from recycled plastics or biodegradable materials due to environmental regulations and consumer preferences.
2021-2023
Growth in construction and agriculture sectors
Rising infrastructure projects and agricultural activities in developing economies have boosted demand for durable buckets and pails.
2020-2022
Automation in manufacturing
Adoption of automated production lines has reduced costs and increased output, especially in major exporting countries like China and Germany.
2019-2023
The European Union introduced new regulations mandating a higher percentage of recycled content in plastic buckets and pails to reduce environmental impact.
January 2023
Manufacturers exporting to the EU must adapt to these standards, potentially increasing production costs but also opening opportunities for eco-friendly product lines.
A revised trade agreement between the US and China reduced tariffs on certain metal buckets and pails, aiming to balance trade deficits.
March 2022
This has led to a surge in Chinese exports to the US, benefiting American importers with lower costs but increasing competition for domestic producers.
India announced incentives for local production of plastic and metal buckets under the 'Make in India' initiative to reduce reliance on imports.
September 2022
This policy may reduce import volumes in the short term but could strengthen India's position as an exporter in the long term.