HS Code:
Synchronous belts, also known as timing belts, fall under HS Code 4010.35. These are specialized belts used in machinery and automotive applications to synchronize the rotation of crankshafts and camshafts. Made typically from rubber or polyurethane with embedded reinforcement materials like fiberglass or steel, synchronous belts are critical components in ensuring precise timing in engines and industrial equipment. They are valued for their durability, resistance to wear, and ability to maintain consistent performance under high-stress conditions.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 300 million
25% of total trade of total trade
Increasing
USD 250 million
20.8% of total trade of total trade
Stable
USD 180 million
15% of total trade of total trade
Increasing
USD 150 million
12.5% of total trade of total trade
Increasing
USD 100 million
8.3% of total trade of total trade
Stable
Average Rate
5.2%
Highest Rate
12% (imposed by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand in automotive sector
Increased production of electric and hybrid vehicles requiring high-precision timing belts has boosted demand, especially in markets like Europe and North America.
2021-2022
Shift to sustainable materials
Manufacturers are adopting eco-friendly materials and production processes to comply with stricter environmental regulations, influencing supply chain dynamics.
2020-2022
Growth in industrial automation
The expansion of automated manufacturing processes globally has driven the need for durable synchronous belts in robotics and conveyor systems.
2019-2022
The European Union introduced stricter regulations on the chemical composition of rubber used in synchronous belts to reduce environmental impact.
June 2023
Manufacturers may face higher production costs, potentially increasing prices for EU markets.
A recent amendment to trade agreements reduced tariffs on synchronous belts exported from China to the US, fostering increased trade volume.
March 2023
This is expected to boost Chinese exports to the US, intensifying competition for domestic manufacturers.
Leading manufacturers in Japan and Germany have developed synchronous belts with enhanced heat resistance and longer lifespans using advanced polymer composites.
January 2023
This innovation is likely to increase market share for these countries in high-end industrial applications.