Iran: Ethylene Market 2024

Ethylene Market Size in Iran

In 2021, the Iranian ethylene market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption recorded a perceptible slump. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Ethylene Production in Iran

In value terms, ethylene production stood at $X in 2021 estimated in export price. In general, production saw a deep downturn. The growth pace was the most rapid in 2016 when the production volume increased by 21%. Ethylene production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ethylene Exports

Exports from Iran

In 2021, overseas shipments of ethylene increased by 12% to X tons, rising for the third year in a row after two years of decline. In general, exports, however, showed a dramatic slump. The most prominent rate of growth was recorded in 2015 when exports increased by 22% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ethylene exports contracted to $X in 2021. Overall, exports, however, recorded a dramatic contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 104%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for ethylene exports from Iran, accounting for a 32% share of total exports. Moreover, ethylene exports to Thailand exceeded the volume sent to the second major destination, the Philippines (X tons), twofold. The third position in this ranking was held by China (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Thailand amounted to -17.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-37.5% per year) and China (-40.8% per year).

In value terms, Thailand ($X) remains the key foreign market for ethylene exports from Iran, comprising 54% of total exports. The second position in the ranking was held by China ($X), with a 15% share of total exports. It was followed by Romania, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Thailand amounted to -18.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-38.7% per year) and Romania (-23.3% per year).

Export Prices by Country

The average ethylene export price stood at $X per ton in 2021, waning by -11.3% against the previous year. Over the period under review, the export price, however, saw a mild increase. The growth pace was the most rapid in 2015 an increase of 67% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+3.8%), while the prices for the other major destinations experienced mixed trend patterns.

Ethylene Imports

Imports into Iran

In 2021, imports of ethylene into Iran shrank significantly to X tons, falling by -72.2% against the previous year. Overall, imports faced a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of 555%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, ethylene imports shrank remarkably to $X in 2021. Over the period under review, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2014 when imports increased by 595%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest supplier of ethylene to Iran, with a 64% share of total imports. Moreover, ethylene imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, India (X kg), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled -16.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+17.3% per year) and China (-6.6% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of ethylene to Iran, comprising 73% of total imports. The second position in the ranking was held by India ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to -16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-5.7% per year) and China (-14.0% per year).

Import Prices by Country

The average ethylene import price stood at $X per ton in 2021, surging by 8.7% against the previous year. Over the period under review, the import price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2013 when the average import price increased by 18% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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