HS Code:
Screws for wood, classified under HS Code 7318.12, are specialized fasteners designed specifically for use in wood applications. These screws typically feature coarse threads and sharp points to ensure secure fastening in wooden materials. They are widely used in construction, furniture manufacturing, and DIY projects. The global trade of wood screws is influenced by the demand for construction materials, furniture production, and industrial manufacturing, with significant production and export hubs in Asia and Europe.
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 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
USD 80 million
6.7% of total trade of total trade
Decreasing
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements such as EU-USMCA)
Rising demand for sustainable materials
Increased preference for eco-friendly and corrosion-resistant screws made from recycled materials or coated with non-toxic finishes, driving innovation in production.
2021-2022
Growth in global construction activities
Higher demand for wood screws due to booming residential and commercial construction, especially in emerging economies like India and Brazil.
2020-2022
Automation in manufacturing
Adoption of automated production lines has reduced costs and increased output, particularly in major exporting countries like China and Taiwan.
2019-2022
The European Union introduced anti-dumping duties ranging from 5-10% on wood screws imported from China to protect domestic manufacturers from unfair pricing practices.
March 2023
This has led to a shift in market dynamics, with European buyers exploring alternative suppliers in Taiwan and Vietnam.
Revised rules under the USMCA have reduced tariffs on wood screws traded between the US, Canada, and Mexico, promoting regional trade.
January 2023
Increased trade volume within North America, benefiting US exporters and reducing reliance on Asian imports.
Several major manufacturers in Germany and Japan introduced new lines of wood screws with biodegradable and non-toxic coatings to meet stringent environmental regulations.
June 2022
This has opened new market opportunities in environmentally conscious regions like the EU and North America.