HS Code:
Helical springs, of wire having a cross-sectional dimension of less than 5.1 mm, fall under the Harmonized System (HS) Code 732020. These are coiled springs typically made from metal wire, used in a variety of applications including automotive suspensions, industrial machinery, and consumer goods. They are designed to absorb shock, maintain force between contacting surfaces, and store energy. This product category is critical in industries requiring precision components for mechanical systems.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 250 million
20.8% of total trade of total trade
Increasing
USD 180 million
15.0% of total trade of total trade
Stable
USD 150 million
12.5% of total trade of total trade
Increasing
USD 120 million
10.0% of total trade of total trade
Increasing
USD 90 million
7.5% of total trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12.5% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-Japan EPA)
Increased demand in automotive sector
Growth in electric vehicle production has boosted the need for lightweight and durable helical springs, driving market expansion in key manufacturing hubs.
2021-2022
Shift towards automation in manufacturing
Adoption of advanced manufacturing technologies has reduced production costs and improved precision, benefiting exporters in developed countries.
2020-2022
Rising raw material costs
Fluctuations in steel prices have increased production costs, impacting profit margins for manufacturers and potentially raising prices for end-users.
2022
The European Union imposed provisional anti-dumping duties on helical springs from China, citing unfair pricing practices that harm domestic producers.
March 2023
This may lead to a shift in trade flows, with European buyers potentially sourcing more from other countries like Japan or South Korea.
Updated rules under the USMCA have reduced tariffs on helical springs traded between the US, Mexico, and Canada, promoting regional supply chain integration.
January 2023
Increased trade within North America, potentially reducing dependence on Asian imports.
A major German manufacturer introduced a new corrosion-resistant coating for helical springs, extending product lifespan and meeting stricter environmental standards.
June 2022
This innovation could set a new industry standard, increasing demand for high-quality springs from European producers.