HS Code:
Molded parts, typically classified under various HS Codes depending on material and use (e.g., HS 3926 for plastic molded parts or HS 4016 for rubber molded parts), encompass a wide range of components manufactured through molding processes. These parts are used across industries such as automotive, electronics, construction, and consumer goods for applications like casings, fittings, seals, and structural components. The category includes products made from plastics, rubber, and sometimes metals or composites, shaped through injection molding, compression molding, or other techniques. Global trade in molded parts is driven by industrial demand, manufacturing hubs, and advancements in material science.
Total Trade Volume
Approximately $150 billion USD
Data from 2022
Source
UN Comtrade Database and WTO Trade Statistics
$45 billion USD
30% of total trade of total trade
Increasing
$20 billion USD
13.3% of total trade of total trade
Stable
$18 billion USD
12% of total trade of total trade
Increasing
$15 billion USD
10% of total trade of total trade
Stable
$10 billion USD
6.7% of total trade of total trade
Increasing
Average Rate
5.5% ad valorem
Highest Rate
12% (imposed by certain developing countries on imported molded parts to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as USMCA or EU-Japan EPA)
Shift towards sustainable materials
Increased demand for bio-based and recyclable molded parts due to environmental regulations and consumer preferences, driving innovation in material science.
2021-2023
Growth in automotive and electronics sectors
Rising production of electric vehicles and smart devices has boosted demand for lightweight, precision-molded components, particularly in Asia-Pacific and Europe.
2020-2022
Automation and 3D printing integration
Adoption of advanced manufacturing technologies is reducing production costs and lead times, reshaping supply chains for molded parts globally.
2019-2023
The European Union introduced stricter regulations under the Green Deal, mandating higher recyclability and lower carbon footprint for plastic molded parts.
January 2023
Manufacturers are investing in sustainable materials and processes, potentially increasing costs but opening new markets for eco-friendly products.
Ongoing trade disputes have led to additional tariffs on Chinese molded parts imported to the US, prompting supply chain diversification.
Mid-2022
Increased sourcing from Southeast Asia and Mexico, reshaping trade flows and benefiting alternative manufacturing hubs.
New high-precision injection molding machines with AI integration have been adopted by major manufacturers in Japan and Germany.
October 2022
Enhanced production efficiency and quality, giving these countries a competitive edge in high-value molded parts markets.