HS Code:
Polymers of propylene or of other olefins, in primary forms (HS Code: 3902), include a range of synthetic polymers derived from propylene and other olefin monomers. These materials, such as polypropylene, are widely used in packaging, textiles, automotive components, and various industrial applications due to their versatility, durability, and cost-effectiveness. This category encompasses raw polymer materials in forms like granules, powders, or pellets, which are further processed into finished products. Global trade in this category is driven by industrial demand, advancements in polymer technology, and the availability of petrochemical feedstocks.
Total Trade Volume
USD 60.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 8.2 billion
13.6% of total trade of total trade
Increasing
USD 7.5 billion
12.4% of total trade of total trade
Stable
USD 5.8 billion
9.6% of total trade of total trade
Increasing
USD 4.9 billion
8.1% of total trade of total trade
Stable
USD 4.3 billion
7.1% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing economies to protect domestic industries)
Lowest Rate
0% (under free trade agreements like USMCA and EU single market)
Rising demand for sustainable polymers
Increased investment in bio-based polypropylene and recycling technologies to meet environmental regulations and consumer preferences.
2021-2023
Shift in production to Asia and Middle East
Lower production costs and proximity to petrochemical feedstocks have boosted exports from regions like Saudi Arabia and South Korea.
2019-2022
Volatility in raw material prices
Fluctuations in crude oil prices have affected the cost of olefin monomers, impacting profit margins for producers.
2020-2023
The European Union has introduced stricter regulations under the Green Deal, mandating higher recycling rates and limiting single-use plastics, affecting demand for virgin polypropylene.
January 2023
Increased costs for exporters to the EU market but also opportunities for suppliers of recycled or bio-based polymers.
Ongoing trade disputes have led to retaliatory tariffs on polymer products, disrupting supply chains between the two largest economies.
Mid-2022
Redirection of trade flows, with countries like Vietnam and South Korea gaining market share as alternative suppliers.
Saudi Arabia has ramped up production capacity for propylene polymers as part of its Vision 2030 diversification strategy.
Late 2022
Strengthened position as a leading exporter, putting downward pressure on global prices.