HS Code:
Yarn spun from silk waste, not put up for retail sale (HS Code: 500500), refers to yarn made from the waste generated during silk production, such as defective cocoons or silk scraps. This product is typically used as a raw material in the textile industry for weaving or knitting into fabrics. It is distinct from yarn made from raw silk and is often considered a more sustainable option due to its use of by-products. This category plays a niche but significant role in the global silk textile market, particularly in countries with a strong silk production heritage.
Total Trade Volume
Approximately $50 million USD
Data from 2022
Source
United Nations Comtrade Database and International Trade Centre (ITC)
$25 million USD
50% of global trade of total trade
Increasing
$10 million USD
20% of global trade of total trade
Stable
$5 million USD
10% of global trade of total trade
Decreasing
$3 million USD
6% of global trade of total trade
Increasing
$2 million USD
4% of global trade of total trade
Stable
Average Rate
5.2% ad valorem
Highest Rate
12% (imposed by certain developing countries to protect domestic industries)
Lowest Rate
0% (under free trade agreements like EU-Asia FTAs or WTO commitments)
Rising demand for sustainable textiles
Increased interest in silk waste yarn as an eco-friendly alternative to synthetic fibers, boosting trade volumes by 8% annually
2021-2022
Technological advancements in processing
Improved spinning techniques have enhanced the quality of silk waste yarn, making it more competitive with raw silk yarn
2020-2022
Shift in consumer preferences
Growing preference for unique, textured fabrics in fashion industries has increased demand for silk waste yarn products
2019-2022
China launched a government-backed program to modernize silk waste processing facilities, aiming to increase export capacity by 15% over the next five years.
March 2023
Likely to solidify China's dominance in the market, potentially pressuring smaller exporters like Thailand and Vietnam.
The European Union introduced stricter sustainability and traceability requirements for silk products, including silk waste yarn, to ensure ethical sourcing.
January 2023
May increase compliance costs for exporters but could benefit countries with established certification systems like India.
India extended its export incentive scheme for silk products, offering rebates on silk waste yarn exports to boost competitiveness.
September 2022
Expected to maintain India's strong position in the market, potentially increasing its share by 2-3% in the coming years.