HS Code:
The category 'Having a relative viscosity of 1.44 or more' typically pertains to specific types of synthetic polymers or resins, often used in industrial applications such as coatings, adhesives, and textiles. This category falls under the Harmonized System (HS) Code related to plastics and articles thereof, likely under Chapter 39. Products in this category are characterized by their high viscosity, which indicates a higher molecular weight and specific performance properties suitable for specialized manufacturing processes.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 320 million
26.7% of total trade of total trade
Increasing
USD 280 million
23.3% of total trade of total trade
Stable
USD 200 million
16.7% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Stable
USD 100 million
8.3% of total trade of total trade
Increasing
Average Rate
6.5% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Growing demand in automotive and aerospace industries
Increased trade volume due to the need for high-performance materials with specific viscosity properties for lightweight and durable components.
2021-2022
Shift towards sustainable and bio-based polymers
Moderate impact on traditional synthetic polymer trade as manufacturers adapt to eco-friendly alternatives, potentially reducing demand for high-viscosity synthetics.
2022-2023
Rising production capacity in Asia-Pacific
Significant increase in export volumes from countries like China and South Korea, leading to competitive pricing pressures globally.
2020-2022
The European Union introduced stricter environmental regulations on the production and import of high-viscosity polymers to reduce carbon footprints and promote recycling.
March 2023
Potential increase in compliance costs for exporters to the EU, possibly shifting trade flows to less regulated markets.
A revised trade agreement between the US and China reduced tariffs on specific polymer categories, including those with high viscosity, to encourage bilateral trade.
January 2023
Boosted export volumes from China to the US, contributing to a 5% increase in trade for this category.
A leading German chemical company announced a new processing technique that enhances the performance of high-viscosity polymers, increasing their applicability in industrial sectors.
September 2022
Likely to drive demand in Europe and reinforce Germany's position as a leading exporter.