HS Code:
The 'Of filaments (223)' category, often classified under HS Code related to synthetic filament yarn or similar products (e.g., HS Code 5402 for synthetic filament yarn), includes products made from synthetic or artificial filaments used in textiles, industrial applications, and manufacturing. These materials are crucial for producing fabrics, ropes, nets, and other goods requiring strength and durability. This category plays a significant role in global trade due to the widespread use of synthetic fibers in clothing, automotive, and construction industries.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU Single Market or USMCA)
Rising demand for sustainable filaments
Increased investment in recycled and bio-based synthetic filaments to meet environmental regulations and consumer preferences.
2021-2023
Shift towards high-performance filaments
Growing use in automotive and aerospace industries for lightweight, durable materials, driving innovation and trade volume.
2020-2022
Supply chain disruptions
Post-COVID-19 supply chain issues and geopolitical tensions have led to regionalization of filament production and trade.
2021-2022
The European Union introduced a 9% tariff on synthetic filament imports from select Asian countries to curb dumping practices and support local manufacturers.
June 2023
Potential increase in costs for EU importers and a shift in sourcing to other regions like Turkey or North Africa.
Negotiations between the US and China have led to a temporary reduction in tariffs on filament products as part of broader trade talks.
March 2023
Expected to boost trade volume between the two countries in the short term, benefiting US consumers and Chinese exporters.
Major manufacturers in South Korea and Japan announced breakthroughs in producing high-quality filaments from recycled plastics.
September 2022
Likely to drive demand for eco-friendly filaments and influence global trade patterns as sustainability becomes a priority.