HS Code:
The category 'Containing 85 percent or more by weight of acrylic or modacrylic staple fibers' (typically classified under HS Code 5503.30 for acrylic or modacrylic staple fibers, not carded, combed or otherwise processed for spinning, or related codes for processed fibers and fabrics) pertains to synthetic fibers widely used in the textile industry. These fibers are known for their wool-like feel, durability, and resistance to sunlight and chemicals, making them popular for applications in apparel, blankets, carpets, and industrial fabrics. This category represents a significant segment of the synthetic fiber market, driven by demand for cost-effective alternatives to natural fibers.
Total Trade Volume
Approximately USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC) Trade Map
USD 900 million
36% of total trade of total trade
Increasing
USD 400 million
16% of total trade of total trade
Stable
USD 300 million
12% of total trade of total trade
Decreasing
USD 250 million
10% of total trade of total trade
Increasing
USD 200 million
8% of total trade of total trade
Stable
Average Rate
6.5% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA or within customs unions like the EU)
Rising demand for sustainable fibers
Increased interest in recycled acrylic fibers and eco-friendly production methods, pushing manufacturers to adopt greener technologies.
2021-2023
Shift towards technical textiles
Growing use of acrylic fibers in industrial applications like filtration and protective clothing, diversifying market demand beyond traditional apparel.
2020-2022
Price volatility of raw materials
Fluctuations in petrochemical prices (key input for acrylic production) have led to unstable production costs, affecting profit margins.
2022-2023
The European Union introduced stricter regulations on the environmental impact of synthetic fiber production, requiring lower emissions and higher recycling rates.
January 2023
Increased production costs for non-compliant manufacturers but potential market advantage for sustainable producers.
China announced investments in new acrylic fiber plants to meet growing domestic and export demand, solidifying its position as the market leader.
March 2022
Likely to increase global supply, potentially lowering prices but raising concerns over overcapacity.
Recent negotiations led to a temporary reduction in tariffs on Chinese synthetic fiber exports to the US, boosting trade flows.
September 2023
Short-term increase in trade volume between the two countries, though long-term stability remains uncertain.