"Iran Petrochemicals Report Q4 2015" Published

The Iranian petrochemicals industry will reap the rewards of sanctions relief under the P5+1 agreement signed in July, but structural problems will persist until feedstock issues are resolved and the industry opens up to investment and the technology transfer that comes with it. Nevertheless, if the agreement holds, the prospects for strong exports-led growth are good as the government aims to raise capacity from the current 60mn tonnes per annum (tpa) to 100mn tpa by 2020.

Sanctions have had a deleterious impact on the Iranian petrochemicals industry due to the collapse of the domestic economy, the lack of investment and the difficulties in exporting output. Iranian petrochemicals producers were directly targeted by sanctions. The relief of sanctions should raise the operating rates from 68% of capacity, as they were in 2014, even as capacity grows. In 2015/16, Iran plans to open 11 petrochemical units, increasing the country's petrochemical production by 6mn tonnes.

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Europe is among the markets Iranian producers are aiming to export to, but they will have to overcome major structural problems in the sector. These include feedstock problems, with the industry yet to take full advantage of the country's massive gas resources. Also, the decline in naphtha costs have undermined the profitability of Iran's predominantly ethane-fed production chain, while rivals in Saudi Arabia enjoy lower ethane prices. The task will be to improve the cost structure and value added and boost upstream gas output, ensuring feedstock is integrated with downstream processors.

BMI forecasts that by 2019, ethylene capacity alone will total 11.08mn tpa, with the completion of the Olefins 11 and 12 projects, which will have capacities of 2.0mn tpa and 1.2mn tpa respectively.

The Iran Petrochemicals Report has been researched at source, and features BMI Research's market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services, sales, market share, investments, projects, partners and expansion strategies.

BMI's Iran Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Iranian petrochemicals industry.

Key Benefits

* Benchmark BMI's independent petrochemicals industry forecasts to test other views - a key input for successful budgetary and planning in the Iranian petrochemicals market.
* Target business opportunities and risks in the Iranian petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Iran.
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