Iranian Producers Eye Strong Presence in Global MB Market

(Monday, February 18, 2019) 15:38

TEHRAN (NIPNA) -- The General Secretory of Iran's Association of Petrochemical Industry Corporation (APIC) said Iranian producers were planning to become a key player in the global market for petrochemical compounds and masterbatch (MB).

Addressing the 4th International Conference and Exhibition on Masterbatch and Polymer Compounds, Ahmad Mahdavi said by 2022, consumption of compounds would reach 200 million tons per year in the worlds requiring domestic producers of the item to devise plans to enter the market strongly.

Masterbatch (MB) is a solid or liquid additive for plastic used for coloring plastics (color masterbatch) or imparting other properties to plastics (additive masterbatch).

He also called on petrochemical industrialists in the country to close ranks to reach the goals of the sector, adding cooperation of the players in the industry could ensure development of downstream industries inside the country.

He said in 2014 and 2015, over 300 million tons of plastic items were consumed globally while only 35 mt of compounds were consumed but the amount would reach 200 mt by 2022.

Despite the vast hydrocarbon reserves in Iran, petrochemicals consumed only 5 to 6 percent of the country’s total oil and gas output which could increase a lot by timely planning and cooperation of the sector’s players.

The conference was held on Sunday in Tehran.

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National Petrochemical Company