HS Code:
The category 'Of nylon or other polyamides' (HS Code: 5402.31) pertains to synthetic filament yarn made from nylon or other polyamides, whether or not textured. This category includes products used primarily in the textile industry for manufacturing fabrics, clothing, and industrial materials such as ropes and nets. Nylon and polyamides are known for their strength, elasticity, and resistance to abrasion, making them highly sought after in various applications. This category is a significant segment of the global synthetic fiber market, driven by demand in apparel, automotive, and industrial sectors.
Total Trade Volume
USD 3.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
12% (applied by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements such as EU-USA or CPTPP)
Rising demand for sustainable nylon products
Increased investment in bio-based polyamides and recycling technologies to meet environmental regulations and consumer preferences
2021-2023
Growth in automotive sector applications
Higher demand for nylon yarns in manufacturing lightweight, durable components for vehicles, driving trade volumes in key producing countries
2020-2022
Shift in production to Asia-Pacific
Lower production costs and proximity to raw material suppliers have made countries like China and Taiwan dominant players, impacting trade balances
2018-2022
The European Union imposed provisional anti-dumping duties ranging from 5% to 10% on nylon filament yarn imports from China to protect domestic manufacturers.
June 2023
This may lead to a shift in trade flows, with buyers potentially sourcing from other countries like South Korea or Taiwan, increasing costs for EU importers.
Major manufacturers in the United States and Germany announced partnerships to scale up production of recycled nylon yarns, aligning with global sustainability goals.
March 2023
This development is expected to boost demand for eco-friendly nylon products, potentially increasing trade volumes in regions with strong environmental policies.
A new trade agreement reduced tariffs on synthetic fibers, including nylon, between South Korea and ASEAN countries, facilitating smoother market access.
January 2023
South Korea's export volumes to ASEAN nations are expected to rise, strengthening its position in the regional market.