HS Code:
The Molding Patterns category, classified under HS Code 8480, encompasses patterns and molds used in the production of metal, plastic, rubber, and other materials in industrial manufacturing. These products are critical in various industries such as automotive, construction, and consumer goods for creating consistent and precise shapes. This category includes patterns for casting metals, injection molding for plastics, and other forming processes, serving as essential tools in mass production.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 2.1 billion
16.8% of total trade of total trade
Stable
USD 1.9 billion
15.2% of total trade of total trade
Increasing
USD 1.3 billion
10.4% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Adoption of 3D printing for mold prototyping
Reduces production time and costs, increasing demand for innovative molding pattern solutions
2021-2023
Shift towards sustainable materials
Growing demand for eco-friendly molds and patterns made from recyclable materials
2020-2022
Automation in manufacturing
Increased need for precision molds compatible with automated production lines
2019-2023
A new phase of trade negotiations reduced tariffs on molding patterns exported from China to the US, boosting trade volume.
March 2023
Expected to increase Chinese exports by 10% in the next year
The European Union introduced stricter environmental standards for manufacturing tools, including molding patterns, to reduce carbon footprints.
January 2023
Manufacturers may face higher compliance costs but gain access to a sustainability-focused market
Japanese firms unveiled advanced AI-driven mold design software, enhancing precision and reducing lead times for molding pattern production.
September 2022
Likely to solidify Japan's position as a leader in high-tech molding solutions