HS Code:
The 'Other Polyesters' category, classified under HS Code 3907.99, encompasses a range of polyester resins and products not covered under more specific polyester classifications. This includes unsaturated polyesters used in reinforced plastics, coatings, and adhesives, as well as other specialty polyester materials used in industrial applications. These materials are critical in industries such as automotive, construction, and electronics due to their durability, chemical resistance, and versatility.
Total Trade Volume
USD 5.2 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
6.5%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Growing demand for sustainable polyesters
Increased R&D investment in bio-based and recyclable polyesters to meet environmental regulations and consumer preferences.
2021-2023
Rising use in automotive lightweighting
Higher demand for unsaturated polyesters in composite materials for vehicle parts to improve fuel efficiency.
2020-2022
Shift towards Asia-Pacific manufacturing
Increased production capacity in countries like China and India due to lower labor costs and growing industrial bases.
2019-2023
The European Union introduced stricter recycling and sustainability standards for polyester products, mandating a minimum recycled content in industrial applications.
June 2023
Increased production costs for non-compliant exporters but potential long-term benefits for sustainable producers.
A new phase of the US-China trade agreement reduced tariffs on certain polyester categories, boosting trade volumes between the two countries.
March 2023
Positive impact on Chinese exporters and US importers with reduced costs and increased market access.
A leading chemical company announced a new bio-based polyester resin with performance comparable to traditional materials, gaining traction in the market.
September 2022
Potential shift in market share towards eco-friendly products, influencing future trade patterns.