HS Code:
The 'Plastics and Articles Thereof' category, classified under HS Code 39, encompasses a wide range of products made from plastic materials, including raw polymers, plastic sheets, tubes, pipes, fittings, and various finished plastic goods such as containers, household items, and packaging materials. This category is critical to numerous industries, including automotive, construction, packaging, and consumer goods, due to the versatility, durability, and cost-effectiveness of plastics. Global trade in this category is driven by the demand for lightweight, durable materials and the increasing use of plastics in sustainable applications like recycling and biodegradable products.
Total Trade Volume
USD 600 billion
Data from 2022
Source
United Nations Comtrade Database
USD 120 billion
20% of total trade of total trade
Increasing
USD 80 billion
13.3% of total trade of total trade
Stable
USD 60 billion
10% of total trade of total trade
Increasing
USD 40 billion
6.7% of total trade of total trade
Stable
USD 30 billion
5% of total trade of total trade
Increasing
Average Rate
6.5% ad valorem
Highest Rate
25% (imposed by certain countries on specific plastic products as part of environmental policies)
Lowest Rate
0% (under free trade agreements like the EU Single Market or USMCA)
Shift towards sustainable plastics
Increased demand for bioplastics and recycled plastics due to environmental regulations and consumer awareness, driving innovation in production processes.
2021-2023
Rising production costs
Fluctuations in oil prices, a key raw material for plastics, have led to higher production costs, impacting profit margins for manufacturers.
2022
Growth in packaging applications
E-commerce boom has fueled demand for plastic packaging materials, especially in developing economies with growing consumer markets.
2020-2023
The European Union introduced a plastic tax on non-recycled plastic packaging waste, aiming to reduce plastic pollution and promote circular economy practices.
January 2021
Increased costs for manufacturers reliant on non-recycled plastics, pushing companies to invest in recycling technologies.
China expanded its ban on single-use plastics in major cities, with a phased rollout to reduce plastic waste by 2025.
2020-2022
Significant reduction in domestic plastic consumption, redirecting trade flows of raw plastic materials to other regions.
The United States-Mexico-Canada Agreement (USMCA) introduced provisions to facilitate tariff-free trade of certain plastic products among member countries.
July 2020
Boosted trade volumes of plastic goods within North America, benefiting exporters in the region.