Among the main sectors of the Gross Domestic Product (GDP), between 1390 and 1401 (2011–2022), the highest Compound Annual Growth Rates (CAGR) were related to Services (4%), Agriculture (2%), and Industry and Mining (1%), respectively, while Oil and Gas experienced a decline at a rate of -4%.
For the preparation of the first section of this report, two primary sources were used: (1) The annual report of Iran’s Petrochemical Industry published by the National Petrochemical Company (NPC); at the time of preparing this report, the latest available version was for the year 1400 (2021/2022). (2) The 2021 IHS Chemical Economics Handbook (CEH): This report was used to compare the production capacity of various petrochemical products, and according to our evaluations, its figures have not undergone significant changes in recent years.
Iran's methanol production capacity in 1400 was equivalent to 10.5% of global production capacity, followed by ethylene (4%) and ammonia (3.5%), respectively.
Petrochemical production grew at a Compound Annual Growth Rate (CAGR) of 4% between 1390 and 1400, among which organic chemical products experienced the highest production growth.
In 1400, Iran's petrochemical industry did not utilize 26% of its production capacity, a share equivalent to the production of 23.5 million tons of petrochemical products.
In the final section of this report, eight petrochemical products—including ethylene, propylene, methanol, butadiene, benzene, toluene, xylenes, and ammonia—are examined in more detail, with special attention given to Iran's production standing compared to global and Middle Eastern production.
This section of the report utilizes customs data to examine petrochemical export trends in the period from 1397 to 1401 (2018–2022).
Iran's petrochemical exports increased at a CAGR of 3% between 1397 and 1401; thus, the value of Iran's exports reached 12.1 billion dollars in 1401.
In 1401, five countries—China, Turkey, India, the UAE, and Iraq—were the destinations for approximately 80% and 83% of the value and volume of Iran's petrochemical exports, respectively.
In 1400, the two regions of Assaluyeh and Mahshahr hosted 80% of Iran's petrochemical production capacity.
Based on the Industrial Management Organization's ranking of Iran's top 500 companies (IMI500), the top five players in Iran's petrochemical industry are: Persian Gulf Petrochemical Industries Company (PGPIC), Nouri Petrochemical Company, Bandar Imam Petrochemical Company, Parsian Oil and Gas Development Group, and Tamin Petroleum & Petrochemical Investment Company (TAPPICO).
It should be noted that Nouri Petrochemical and Bandar Imam Petrochemical are subsidiaries of the Persian Gulf Petrochemical Industries Holding, the country's largest petrochemical holding.