Iran has exported about 13 million tons of petrochemical and polymer products in the last seven months (Between March 21 and October 22), recording a strong 13 per cent growth in the current fiscal over the same period last year. India, China and South Korea have emerged as key petrochemical exports markets for Iran with the country also gaining ground in Africa and European markets.

The country has witnessed 9 per cent year-on-year growth in petrochemical production with the total output from Iranian petrochemical complexes amounting 31 million tons. About 10 million tons were consumed locally by downstream petrochemical companies and industrial units. According to Ali Mohammad Bosaqzadeh, Director of Production Control, National Petrochemical Company, “Total output included 13 million tons of base petrochemicals, 1.9 million tons of aromatics and 9 million tons of feedstock and fuel for petrochemical and industrial plants,” he said.

Having passed the 50-million-ton mark in the previous fiscal, Iran now aims to ramp up production to 60 million tons by March 2018 and then to 72 million tons nominal output capacity annually as a number of petrochemical plant launches are scheduled ahead. Iranian Petrochemical companies such as Arya Sasol, Shiraz, Khorasan, Mehr and Urmia have already managed to meet up to 90 per cent of their nominal production capacity in seven months.