Iran’s yearly export of polymer products surpasses USD4.5 billion

(MENAFN) During the previous Iranian calendar year, which ended on March 19, Iran successfully exported over USD4.6 billion worth of polymer products, according to Saeed Torkaman, the head of the Iran National Plastic and Polymer Industries Association (INPIA). He noted that the polymer industry emerged as the second largest source of export revenue for the country, underscoring its significance in Iran's economy.

Torkaman emphasized that the polymer industry has created employment opportunities for over one million individuals across Iran, while also reducing the dependency on raw material sales. However, he pointed out that energy imbalances and difficulties in sourcing raw materials have led to underutilization of some capacities within the plastic and polymer sector, indicating a need for improved resource management and infrastructure.

In addition to polymer exports, the value of Iran's petrochemical exports rose by 12.8 percent during the first five months of the current Iranian calendar year (March 20-August 21) compared to the same timeframe last year. Mohammad Rezvanifar, head of the Islamic Republic of Iran Customs Administration (IRICA), reported that the country exported 24.5 million tons of petrochemicals valued at USD9.8 billion, also reflecting a 12.5 percent increase in weight year-on-year. This growth showcases the resilience and potential of Iran's petrochemical industry amidst various challenges.

Looking ahead, the former head of Iran’s National Petrochemical Company (NPC) estimated that the country's petrochemical output could reach 80 million tons in the current Iranian calendar year, which concludes in late March 2025. Morteza Shahmirzaei, a key figure in the Oil Ministry, highlighted that ensuring a stable supply of feed to petrochemical complexes has been one of the ministry's primary objectives for this year. He also noted that Iran's petrochemical exports for the previous calendar year reached approximately 30 million tons, reflecting the sector's ongoing development and strategic importance.

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