HS Code:
The 'Injection or Compression Types' category, classified under HS Code 8477.10, pertains to machinery used for processing plastics or rubber through injection or compression molding. These machines are critical in manufacturing a wide range of products, including automotive parts, packaging materials, medical devices, and consumer goods. This category is a significant segment of industrial machinery trade, driven by demand in manufacturing hubs and innovation in polymer processing technologies.
Total Trade Volume
USD 15.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12.5% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Shift towards energy-efficient machinery
Increased demand for electric and hybrid injection molding machines due to sustainability goals, driving innovation and higher costs for traditional models.
2021-2023
Automation and Industry 4.0 integration
Rising adoption of smart manufacturing technologies, boosting demand for advanced machinery with IoT and AI capabilities, especially in developed markets.
2020-2023
Growth in medical and packaging sectors
Surge in demand for precision molding equipment due to increased production of medical devices and sustainable packaging solutions post-COVID-19.
2020-2022
The European Union introduced new regulations mandating lower energy consumption for industrial machinery, including injection molding equipment, to meet carbon neutrality targets.
March 2023
Increased compliance costs for manufacturers but potential growth in demand for eco-friendly machinery.
A revised trade agreement reduced tariffs on certain industrial machinery, including injection molding machines, exported from China to the US, as part of de-escalation efforts.
January 2023
Boosted Chinese exports to the US, potentially increasing competition for domestic and European manufacturers.
A leading German manufacturer unveiled a new line of hybrid injection molding machines that reduce energy usage by 30%, gaining significant attention at a global trade fair.
October 2022
Accelerated shift towards sustainable machinery, pressuring competitors to innovate or lose market share.