HS Code:
The 'Other threaded articles' category, classified under HS Code 7318.19, encompasses a variety of threaded metal articles not elsewhere specified, such as screws, bolts, nuts, and other fasteners. These products are critical components in industries like construction, automotive, aerospace, and manufacturing, serving as essential elements for assembly and structural integrity. This category excludes more specific threaded articles like coach screws or screw hooks, focusing on miscellaneous threaded fasteners made of iron, steel, or other metals.
Total Trade Volume
USD 12.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 3.8 billion
30.4% of total trade of total trade
Increasing
USD 1.9 billion
15.2% of total trade of total trade
Stable
USD 1.5 billion
12.0% of total trade of total trade
Increasing
USD 1.2 billion
9.6% of total trade of total trade
Stable
USD 0.9 billion
7.2% of total trade of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand in renewable energy sector
Increased use of threaded articles in wind turbine and solar panel installations has driven export growth, especially in Asia and Europe.
2021-2022
Shift towards lightweight materials
Growing preference for high-strength, corrosion-resistant alloys in threaded articles to meet automotive and aerospace needs, impacting traditional steel-based trade.
2020-2022
Supply chain disruptions
Post-COVID-19 logistics challenges and raw material shortages have led to price volatility and delays in trade flows, particularly from Asia.
2021-2022
The United States imposed additional tariffs on Chinese threaded articles under Section 301, citing unfair trade practices.
March 2022
Increased costs for US importers, prompting a shift towards alternative suppliers like Taiwan and Vietnam.
The European Union introduced stricter environmental standards for metal fasteners, requiring compliance with sustainability criteria.
July 2022
Higher production costs for exporters to the EU, but long-term benefits for eco-friendly manufacturers.
India launched incentives under the 'Make in India' initiative to boost local production of threaded articles, reducing reliance on imports.
September 2022
Potential decline in import volumes from China and other major exporters to India in the coming years.