HS Code:
The Prisms category, classified under HS Code 9002.90 (which includes prisms, mirrors, and other optical elements, mounted, used in optical instruments), encompasses precision optical components primarily utilized in scientific, industrial, and consumer applications. These products are integral to devices such as cameras, binoculars, microscopes, telescopes, and various laser-based technologies. Prisms are critical for manipulating light paths through refraction and reflection, serving industries like telecommunications, medical equipment, and defense.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 450 million
37.5% of total trade of total trade
Increasing
USD 200 million
16.7% of total trade of total trade
Stable
USD 180 million
15.0% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Increasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing economies)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Growing demand for prisms in AR/VR technologies
Increased production and trade in consumer electronics markets, particularly in Asia-Pacific and North America
2021-2022
Shift towards miniaturization of optical components
Higher demand for precision-engineered micro-prisms, boosting trade with high-tech manufacturing hubs like Japan and South Korea
2020-2022
Rising use in renewable energy applications
Increased exports for prisms used in solar concentrators and laser systems for energy research, especially in Europe
2022
The United States imposed additional tariffs on Chinese optical components, including prisms, as part of ongoing trade disputes, prompting supply chain diversification.
March 2023
Potential increase in costs for US-based manufacturers and a shift towards suppliers in Southeast Asia and Europe
The European Union allocated funding under the Green Deal for research into optical technologies, including prisms for energy-efficient systems.
June 2023
Expected rise in demand for specialized prisms within the EU, benefiting local and international suppliers
Major tech firms in Japan and South Korea announced joint ventures to develop advanced prisms for augmented reality headsets.
September 2023
Likely to strengthen trade ties and innovation in the Asia-Pacific region, increasing export volumes