HS Code:
The 'Of man-made fibers' category (HS Code: 669) includes a wide range of textile products made from synthetic or artificial fibers such as polyester, nylon, and acrylic. These products encompass woven fabrics, knitted or crocheted fabrics, and other textile materials used in clothing, home furnishings, and industrial applications. Man-made fibers are valued for their durability, versatility, and cost-effectiveness compared to natural fibers, making them a significant segment of the global textile market.
Total Trade Volume
USD 45.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 18.7 billion
41.3% of total trade of total trade
Increasing
USD 5.2 billion
11.5% of total trade of total trade
Stable
USD 3.9 billion
8.6% of total trade of total trade
Increasing
USD 2.8 billion
6.2% of total trade of total trade
Stable
USD 2.1 billion
4.6% of total trade of total trade
Decreasing
Average Rate
8.5%
Highest Rate
15% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements such as EU-Korea FTA)
Rising demand for sustainable and recycled man-made fibers
Increased investment in eco-friendly production technologies and circular economy practices, driving market growth in regions with strict environmental regulations.
2021-2022
Shift in production to Southeast Asia
Countries like Vietnam and Indonesia are becoming key players due to lower labor costs and favorable trade agreements, impacting traditional exporters like China.
2020-2022
Technological advancements in fiber performance
Innovations in high-performance fibers for sportswear and industrial use are expanding market applications, boosting trade volumes in developed markets.
2019-2022
The European Union introduced provisional anti-dumping duties ranging from 10-12% on certain man-made fiber products from China to protect local manufacturers.
March 2023
This could lead to a shift in trade flows, with buyers potentially sourcing from alternative suppliers in South Korea or Taiwan.
The United States-Mexico-Canada Agreement (USMCA) introduced stricter rules of origin for man-made fiber products, requiring more regional content to qualify for tariff-free trade.
July 2022
This has encouraged nearshoring of production to North America, benefiting Mexican textile exporters.
The EU-Vietnam Free Trade Agreement (EVFTA) reduced tariffs on man-made fiber products to 0% over a phased period, boosting Vietnam's export competitiveness.
August 2022
Vietnam's share in the EU market has grown, challenging traditional exporters like China.