HS Code:
Molding boxes for metal foundry (HS Code: 8480.10) are essential tools used in the metal casting industry to create molds for shaping molten metal into specific forms. These boxes are critical in industries such as automotive, aerospace, and machinery manufacturing, where precision casting is required. They are typically made from durable materials like steel or cast iron to withstand high temperatures and repeated use. The global trade of molding boxes reflects the demand for industrial manufacturing and the growth of metalworking sectors worldwide.
Total Trade Volume
USD 250 million
Data from 2022
Source
UN Comtrade Database
USD 60 million
24% of total trade of total trade
Increasing
USD 50 million
20% of total trade of total trade
Increasing
USD 40 million
16% of total trade of total trade
Stable
USD 30 million
12% of total trade of total trade
Stable
USD 25 million
10% of total trade of total trade
Decreasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Increased demand due to automotive sector growth
Higher trade volumes in regions with strong automotive manufacturing, such as Europe and East Asia, driving export growth for countries like Germany and China.
2021-2022
Shift towards automation and advanced manufacturing
Growing preference for high-precision molding boxes integrated with automation technologies, increasing demand for innovative products from developed markets.
2020-2022
Rising raw material costs
Increased production costs for molding boxes due to fluctuations in steel and iron prices, affecting profit margins and trade competitiveness.
2022
The European Union introduced stricter quality and safety standards for imported molding boxes to ensure compliance with environmental and industrial regulations.
March 2023
Exporters to the EU, especially from developing countries, may face higher compliance costs and potential market entry barriers.
China announced investments in expanding its foundry equipment manufacturing, aiming to capture a larger share of the global market for molding boxes.
July 2023
Increased competition for other major exporters like Germany and the United States, potentially lowering prices globally.
Continued tariffs on steel imports in the United States have raised raw material costs for domestic molding box manufacturers.
January 2023
Higher production costs may reduce the competitiveness of US-made molding boxes in the global market, benefiting exporters from other regions.