HS Code:
The 'With round heads' category, typically falling under HS Code 7318.15 (screws, bolts, nuts, and similar articles of iron or steel), refers to fasteners with rounded heads used in various industrial and construction applications. These products are essential in machinery, automotive, and infrastructure projects due to their durability and ease of use. This category is a critical component of global manufacturing supply chains, with demand driven by industrial production and construction activities worldwide.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Japan EPA)
Rising demand in renewable energy projects
Increased use in wind turbine and solar panel installations has boosted trade volumes by 8% annually since 2020
2022
Shift towards sustainable materials
Growing preference for corrosion-resistant and recyclable fasteners, driving innovation in production
2021
Supply chain disruptions
Post-COVID logistics challenges and raw material shortages led to a 5% price increase in 2021-2022
2022
The European Union extended anti-dumping duties on Chinese steel fasteners, including round head screws, to curb market distortion.
March 2023
Increased costs for EU importers, potentially shifting sourcing to Taiwan and Vietnam
The US Infrastructure Investment and Jobs Act has spurred demand for industrial fasteners in construction and transport projects.
November 2021
Projected 10% growth in US imports of round head fasteners through 2025
Introduction of automated production lines and smart fasteners with embedded sensors for quality control.
July 2022
Enhanced product reliability, giving competitive edge to manufacturers in Germany and Japan