This Expo Insightry report provides a snapshot of Iran’s Petrochemical in four sections:
Section One – Iran Macroeconomy at a Glance
- Iran’s GDP composition shifted in 2011-2022: Services surged (CAGR 4%), Agriculture held steady (2%), Industries dipped (1%), while Oil & Gas contracted (-4%)
Section Two – Petrochemical Figures
- This section is heavily based on the following two sources:
- NPC’s 2021 annual report of the industry, which was the most recent available edition at the time of developing this report
- IHS Report 2021 – Chemical Economics Handbook (CEH): We use this report for comparing the production capacity of each product for which we assume that there has not been a lot of changes
- Over 2011-2021, Iran’s production of petrochemical products has experienced a 4% growth, and is expected to reach 72 million tons in 2023
- On 2021, Iran’s petrochemical industry did not utilize 26% of its production capacity, the quantity equivalent to 23.5 million tons of production
- On the final part of this section, the report explores eight petrochemicals including ethylene, propylene, methanol, butadiene, benzene, toluene, xylenes, and ammonia, comparing Iran’s situation of production to the world and the middle east
Section Three – Petrochemical Export
- On this section, we used data of Iran Customs Administration in order to analyze Iran’s petrochemical export trends over 2018 to 2022
- Experiencing a 3% CAGR from 2018 to 2022, Iran’s petrochemical export has reached to USD 12.1 billion on 2022, after facing significant shrinkage over 2018 to 2019 due to imposition of sanctions
- Five countries, including China, Türkiye, India, UAE, and Iraq, collectively account for approximately 80% and 83% of Iran’s petrochemical export value and volume in 2022
- On this section, Iran’s petrochemical export are classified into three groups: polymers, organic chemicals and fertilizers
Section Four – Petrochemical Top Players
- On 2021, Assaluyeh and Mahshahr, the two top petrochemical areas in Iran, accounted for 80% of Iran’s production capacity
- The top players introduced in this section are the top players of the industry reported by IMI-500 rankings 2022, published in January 2024
- According to this ranking, the top five players of Iran petrochemical sector, in respect to their ranks, are: Persian Gulf Petrochemical Industries Company (PGPIC), Nouri Petrochemical Company, Bandar Emam Petrochemical Company, Parsian Oil & Gas Development Company, and Tamin Petroleum & Petrochemical Investment Company
- It’s worth to note that Nouri Petrochemical and Bandar Emam Petrochemical companies are subsidiaries of PGPIC, as the biggest petrochemical holding company of Iran
