HS Code:
The Carbon category (HS Code: 2803) includes carbon blacks and other forms of carbon not elsewhere specified or included. Carbon black is a fine black powder used primarily as a reinforcing filler in tires and other rubber products, as well as a pigment in inks, coatings, and plastics. Other forms of carbon in this category may include activated carbon, carbon fibers, and various amorphous carbon products used in industrial applications such as filtration, energy storage (e.g., batteries), and metallurgy. This category plays a critical role in industries like automotive, electronics, and manufacturing due to carbon's unique properties of strength, conductivity, and chemical stability.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.5%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or USMCA)
Rising demand for carbon black in tire manufacturing
Driven by growth in the automotive sector, especially in Asia-Pacific, leading to increased exports from China and South Korea
2021-2023
Growing use of activated carbon in water and air purification
Increased trade volume due to environmental regulations and sustainability initiatives globally
2020-2022
Shift toward sustainable production methods
Higher production costs but growing demand for 'green' carbon products in Europe and North America
2022-2023
The European Union introduced new regulations under the Green Deal to reduce carbon emissions in the production of carbon black, impacting exporters to the region.
March 2023
Increased production costs for non-compliant exporters; potential shift of trade to countries with sustainable practices
A revised trade agreement reduced tariffs on certain carbon products, boosting imports of activated carbon from China to the US.
January 2023
Increased trade volume between the two countries, benefiting US industries reliant on affordable carbon inputs
South Korea announced investments in carbon fiber manufacturing to meet rising demand in electronics and aerospace sectors.
June 2022
Strengthened South Korea's position as a key exporter of specialized carbon products