Iran Petrochemical Company Forecasts Higher Growth Rates

An estimated 642 million tons of 8 basic petrochemicals (benzene, toluene ethylene, ammonia, methanol, xylene, butadiene and propylene) are produced annually in the world, 3.6% of which, or 23 million tons, are made in Iran.

Petrochemical revenues have risen notably in the last four decades -- from $200,000 in 1976 to $17 billion in 2018, head of the National Petrochemical Company said.

“Sale of petrochemicals, both in the domestic and foreign markets, is projected to reach $37 billion by 2025,” ILNA reported Behzad Mohammadi as saying.

Close to 642 million tons of 8 basic petrochemical products (benzene, toluene ethylene, ammonia, methanol, xylene, butadiene and propylene) are produced annually in the world, 3.6% of which 23 million tons are manufactured in Iran despite difficulties created by the new US sanctions, he noted.

Petrochemicals constitute more than one-fourth of Iran’s non-oil export earnings with products destined to 30 countries, namely neighboring states, China, India, Southeast Asia and Europe.