Till the end of this Iranian calendar year (starting 20 March, 2016 and ending 19 March, 2017), Iran’s petrochemical export is scheduled to reach 20 million tons, worth nine billion dollars.
While the petrochemical production for the last Iranian year (ending 19 March, 2016) was 46.5 million tons of petrochemical products, worth 9.6 billion dollars, in the first seven months of this Iranian year, 29 million tons of petrochemicals were produced. Predicting an increase in the production of petrochemical products during this Iranian year, Farnaz Alawi, director of the planning and development department at National Petrochemical Company (NPC), placed the figures at 50-51 million tons.
Referring to the export of petrochemical products worth 9.6 billion dollars during the previous Iranian year, Farnaz Alawi said, “We have already exported petrochemical products worth 4.8 billion dollars in the first seven months of this year.”
During the past four years, while the price of petrochemical products exported by Iran witnessed 50 percent decrease, the price of products used in the domestic market experienced a decrease of 40 percent.
While Iran is expected to play a major role in the international market of polymers, currently, it has 10 percent of the international market of methanol. After the nuclear deal reached between Iran and G5+1, the presence of Asian and European companies has increased in Iran.
NPC is responsible for the development and operation of Iran’s petrochemical sector. Founded in 1964, NPC is today the second largest producer and exporter of petrochemicals in the Middle East. NPC has not only expanded the range and volume of its products over these years, but also taken steps in areas such as R&D to achieve more self-sufficiency.