HS Code:
The 'Of man-made fibers' category (HS Code: 5407-5408 for woven fabrics and related products) includes textiles and fabrics made from synthetic or artificial fibers such as polyester, nylon, and acrylic. These materials are widely used in apparel, home furnishings, and industrial applications due to their durability, versatility, and cost-effectiveness compared to natural fibers. This category is a significant segment of the global textile industry, driven by demand in fashion, automotive, and technical textile sectors.
Total Trade Volume
USD 45.6 billion
Data from 2022
Source
United Nations Comtrade Database & World Trade Organization (WTO)
USD 18.2 billion
40.0% of total trade of total trade
Increasing
USD 5.1 billion
11.2% of total trade of total trade
Stable
USD 3.8 billion
8.3% of total trade of total trade
Increasing
USD 2.9 billion
6.4% of total trade of total trade
Increasing
USD 2.5 billion
5.5% of total trade of total trade
Decreasing
Average Rate
8.5%
Highest Rate
25% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-USMCA or RCEP)
Rising demand for sustainable and recycled man-made fibers
Increased investment in eco-friendly production processes and circular economy initiatives, driving market growth in regions with strict environmental regulations like the EU.
2021-2023
Shift toward technical textiles
Growing use of man-made fibers in automotive, medical, and industrial applications, expanding market opportunities beyond traditional apparel.
2020-2022
Supply chain diversification post-COVID-19
Countries like Vietnam and Bangladesh are emerging as alternative manufacturing hubs to reduce reliance on China, affecting global trade patterns.
2021-2023
The European Union introduced stricter regulations under the Green Deal, mandating sustainability certifications for imported man-made fiber products to reduce environmental impact.
March 2023
Exporters to the EU must adapt to higher compliance costs, potentially reducing trade volumes from non-compliant countries while benefiting sustainable producers.
The United States imposed additional tariffs on Chinese man-made fiber products as part of ongoing trade disputes, encouraging importers to source from other regions.
September 2022
Trade diversion to countries like Vietnam and India, though costs for US consumers may rise due to limited immediate alternatives.
The Regional Comprehensive Economic Partnership (RCEP) came into full effect, reducing tariffs on man-made fiber trade among member countries in Asia-Pacific.
January 2023
Increased intra-regional trade, especially benefiting exporters like China, South Korea, and ASEAN nations.