HS Code:
The category under HS Codes 8477.10.30, 8477.10.40, and 8477.10.90 pertains to injection-molding machines for working rubber or plastics. These machines are critical in manufacturing industries for producing a wide range of plastic and rubber products through the injection molding process. This includes machinery for producing items like automotive parts, packaging materials, and consumer goods. The subheadings differentiate based on specific technical specifications and capacities of the machines.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 1.3 billion
25% of total trade of total trade
Increasing
USD 900 million
17% of total trade of total trade
Stable
USD 750 million
14% of total trade of total trade
Decreasing
USD 600 million
12% of total trade of total trade
Increasing
USD 450 million
9% of total trade of total trade
Stable
Average Rate
5.5% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Increased demand for energy-efficient injection molding machines
Driven by sustainability goals, manufacturers are investing in electric and hybrid machines, boosting trade in advanced models
2021-2022
Rise of automation and Industry 4.0 integration
Growing adoption of smart manufacturing technologies is increasing demand for machines with IoT and data analytics capabilities
2020-2022
Shift of manufacturing bases to Asia-Pacific
Countries like Vietnam and India are becoming manufacturing hubs, increasing regional imports of injection molding machinery
2019-2022
The European Union introduced provisional anti-dumping duties on injection molding machines from China to protect domestic manufacturers from unfairly low-priced imports.
March 2023
This may lead to a shift in trade flows, with EU importers potentially sourcing from other countries like Japan or South Korea.
Recent negotiations under the Phase One trade deal have reduced tariffs on certain industrial machinery, including injection molding machines, fostering bilateral trade.
January 2023
This has encouraged increased exports from China to the US, potentially affecting domestic manufacturers.
Leading manufacturers in Germany and Japan unveiled new models of injection molding machines with enhanced precision and energy efficiency at the K 2022 trade fair.
October 2022
This is expected to drive demand for high-end machinery in developed markets, influencing trade patterns.