HS Code:
Copolymers, classified under HS Code 3902, encompass a range of polymers made from two or more different types of monomers. This category includes products such as polypropylene copolymers and other olefin-based copolymers used extensively in industries like packaging, automotive, construction, and consumer goods. These materials are valued for their versatility, durability, and ability to be tailored for specific applications through variations in composition and processing.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 4.2 billion
16.6% of total trade of total trade
Increasing
USD 3.8 billion
15.0% of total trade of total trade
Stable
USD 3.5 billion
13.8% of total trade of total trade
Increasing
USD 2.1 billion
8.3% of total trade of total trade
Increasing
USD 1.9 billion
7.5% of total trade of total trade
Stable
Average Rate
5.2%
Highest Rate
12.5% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Rising demand for sustainable copolymers
Increased investment in bio-based and recyclable copolymers due to environmental regulations and consumer preferences.
2021-2023
Growth in automotive applications
Higher usage of lightweight copolymers in vehicle manufacturing to improve fuel efficiency and reduce emissions.
2020-2022
Shift in production to Asia-Pacific
Lower production costs and growing industrial bases in countries like China and India are driving regional trade dominance.
2019-2023
The European Union introduced new environmental standards for copolymer production, requiring compliance with reduced carbon footprints.
March 2023
Potential increase in production costs for non-compliant exporters, favoring local producers with sustainable practices.
A revised trade agreement reduced tariffs on copolymers between the US and China, aiming to balance trade deficits.
January 2023
Expected boost in copolymer exports from China to the US, potentially increasing market competition.
A leading chemical company announced a new bio-based copolymer with enhanced recyclability, targeting the packaging industry.
June 2022
Likely to drive market shifts towards sustainable materials, influencing trade patterns in favor of eco-friendly products.