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Plastics industry

Friday, 19 August 2022 1:15 PM [ Last Update: Friday, 19 August 2022 2:36 PM ]

Almost everything around us is either made of plastic or has some plastic component. Because of its versatile features, Plastic is one of the most widely used materials which has boosted economies across the globe.

Plastic is known as a group of synthetic or semi-synthetic materials created through the polymerization process. So, one of the most prominent ingredients in this mix is polymers, which are a derivative of petrochemical products that come from processing oil. It's not surprising that Iran has an ever-expanding polymer industry, given its large oil reserves.

Figures from the National Plastic and Polymer Industries Association show that the polymer industry gets most of its feedstock from domestic petrochemical complexes. Plus, there are some 8,000 production units that make plastic products nationwide. These units have a total capacity to produce roughly 13 million tonnes annually. Some $3.3 billion worth of polymer products were exported last year, registering 23% year-on-year increase. The association also says exports in this sector make up roughly 7% of the country's non-oil exports.

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