HS Code:
Prepared binders for foundry molds or cores (HS Code: 382410) are chemical products used in the metal casting industry to bind sand or other materials together to form molds or cores. These binders ensure the structural integrity of molds during the casting process and are critical in industries such as automotive, aerospace, and heavy machinery manufacturing. They include organic binders (like phenolic or furan resins) and inorganic binders (like sodium silicate). This category plays a vital role in industrial production, with demand closely tied to global manufacturing output.
Total Trade Volume
Approximately $1.2 billion USD
Data from 2022
Source
United Nations Comtrade Database, International Trade Centre (ITC)
$320 million USD
26.7% of total trade of total trade
Increasing
$250 million USD
20.8% of total trade of total trade
Stable
$180 million USD
15.0% of total trade of total trade
Increasing
$120 million USD
10.0% of total trade of total trade
Stable
$90 million USD
7.5% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Shift towards eco-friendly binders
Increasing demand for inorganic and low-emission organic binders due to stricter environmental regulations in Europe and North America.
2021-2023
Growth in automotive and aerospace sectors
Rising production of lightweight vehicles and aircraft components drives demand for high-performance binders in precision casting.
2020-2022
Supply chain disruptions
Global shortages of raw materials for binder production, such as phenolic resins, have led to price volatility and delayed deliveries.
2021-2022
The European Union has introduced stricter regulations on volatile organic compounds (VOCs) in binders, pushing manufacturers to innovate with sustainable alternatives.
January 2023
Increased R&D costs for producers but potential long-term market growth for eco-friendly products.
Ongoing trade disputes have led to additional tariffs on Chinese binder exports to the US, affecting pricing and supply chains.
Mid-2022
Shift in sourcing to other countries like Germany and Japan by US importers.
New bio-based binders have been developed by leading chemical companies, reducing dependency on petroleum-based raw materials.
October 2022
Potential cost reduction and market expansion in regions prioritizing sustainability.