HS Code:
The category 'Gaskets, washers and other seals, of vulcanized rubber other than hard rubber, of a kind used in the automotive goods of chapter 87 (HS Code: 4016.93.10)' includes essential sealing components used in automotive applications. These products are critical for preventing leaks and ensuring the integrity of various automotive systems, such as engines, transmissions, and fuel systems. Made from vulcanized rubber, these components are designed to withstand high temperatures, pressure, and chemical exposure, making them indispensable in the manufacturing and maintenance of vehicles.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
18% of total trade of total trade
Increasing
USD 400 million
16% of total trade of total trade
Stable
USD 350 million
14% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Increasing
USD 200 million
8% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like USMCA)
Rising demand for electric vehicles (EVs)
Increased need for specialized seals for battery systems and electric drivetrains, driving innovation in rubber compounds for enhanced thermal and chemical resistance.
2022
Sustainability and recycling initiatives
Growing emphasis on eco-friendly materials and recycling of vulcanized rubber products, influencing production processes and trade policies.
2021-2022
Supply chain disruptions
Global supply chain challenges, including raw material shortages and logistics delays, have led to price volatility and shifts in sourcing strategies.
2020-2022
The European Union introduced new emission regulations under Euro 7 standards, necessitating advanced sealing solutions for automotive engines to meet compliance.
July 2023
Increased demand for high-performance gaskets and seals in the European market, benefiting exporters with compliant products.
Updates to the USMCA agreement have reduced tariffs on automotive parts, including rubber seals, between the US, Canada, and Mexico, promoting regional trade.
January 2023
Enhanced trade flows within North America, with Mexico emerging as a key supplier due to lower production costs.
China has introduced policies to encourage local production of EV components, including rubber seals, to reduce reliance on imports.
March 2023
Potential reduction in export opportunities for foreign suppliers to China, while domestic manufacturers gain market share.