HS Code:
Polyethylene terephthalate (PET) plastics, classified under HS Code 3907.61 (having a viscosity number of 78 ml/g or higher) and related subcategories, are a type of thermoplastic polymer resin widely used in the production of bottles, containers, packaging materials, and textiles (e.g., polyester fibers). PET is valued for its strength, lightweight properties, and recyclability, making it a critical material in industries such as food and beverage packaging, automotive, and consumer goods. Global trade in PET plastics is driven by demand for sustainable packaging solutions, urbanization, and the growth of the beverage industry, particularly in emerging economies. However, environmental concerns over plastic waste and recycling challenges influence trade policies and market dynamics.
Total Trade Volume
USD 15.2 billion
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
USD 3.8 billion
25.0% of total trade of total trade
Increasing
USD 2.1 billion
13.8% of total trade of total trade
Stable
USD 1.5 billion
9.9% of total trade of total trade
Increasing
USD 1.2 billion
7.9% of total trade of total trade
Increasing
USD 900 million
5.9% of total trade of total trade
Increasing
Average Rate
6.5% ad valorem
Highest Rate
25% (imposed by certain developing countries on imports to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-USA or within ASEAN)
Rising demand for recycled PET (rPET)
Increased trade in recycled PET materials due to sustainability mandates and consumer preference for eco-friendly packaging, driving investments in recycling infrastructure.
2021-2023
Shift toward bio-based PET
Emerging trade in bio-based PET alternatives as companies aim to reduce reliance on fossil-based materials, though costs remain a barrier to widespread adoption.
2022-2023
Regional supply chain diversification
Countries are diversifying PET supply chains to reduce dependency on single exporters like China, boosting trade from Southeast Asia and the Middle East.
2020-2023
The EU updated its Single-Use Plastics Directive in 2023, mandating higher recycled content in PET bottles (30% by 2025) and introducing stricter import standards for non-compliant materials.
March 2023
Increased demand for rPET imports and potential trade barriers for exporters unable to meet recycling standards.
A bilateral agreement in late 2022 aimed to reduce tariffs on PET-related products while addressing anti-dumping concerns, facilitating smoother trade between the two largest markets.
November 2022
Stabilized PET trade volumes between the US and China, though environmental compliance remains a challenge.
India implemented stricter Plastic Waste Management Rules in 2022, requiring producers to ensure recycling of PET products, impacting import patterns and encouraging domestic production.
February 2022
Reduced imports of low-quality PET materials and increased focus on domestic recycling capabilities.