TEHRAN – Iran’s polymer production capacity is going to increase by 120 percent by the Iranian calendar year 1404 (begins on March 21, 2025) to reach 21 million tons per year, according to the head of Iran’s National Petrochemical Company (NPC).
Speaking on the sidelines of the 14th International Exhibition of Plastic, Rubber, Machinery, and Equipment (IRAN PLAST) on Sunday, Behzad Mohammadi put the country’s current polymer production capacity at nine million tons saying: “This figure will increase by 120 percent to reach 21 million tons in [the year] 1404, with the new under-construction projects going operational in the third leap of the petrochemical industry.”
Mohammadi also put Iran’s share of the annual global polymer production, which is currently 420 million tons, at two percent and added: “the production of polymers in the world will reach 530 million tons in 2025 and Iran’s share of this basket will increase to four percent in 1404.”
He noted that the total production capacity of the petrochemical industry has increased from 65.8 million tons at the beginning of the current Iranian calendar year (March 20, 2020) to 80 million tons following the implementation of 10 new projects.
“Currently 40 million tons or 900,000 barrels per day of feed is consumed by 60 petrochemical complexes across the country,” the official said.
Mohammadi stated that currently 35 million tons of final and marketable products are produced in the country, of which 72 percent is exported and 28 percent is consumed domestically.
According to the NPC head, 77 types of chemicals and 18 types of polymers in the form of 334 different grades are currently produced in the country which can be consumed by the downstream industries.
He said that the growth of global demand for petrochemical products is 4.5 percent while the growth of demand for oil products is one percent, adding: “In the coming decades, the consumption of oil products will decrease, but the consumption of petrochemical products is increasing at a staggering pace; so the development of the petrochemical industry has become more and more serious.”