Iran: Polyurethanes Market 2025

Polyurethanes Market Size in Iran

In 2021, the Iranian polyurethanes market decreased by -8.9% to $X, falling for the fourth consecutive year after six years of growth. Overall, consumption saw a deep setback. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Polyurethanes Exports

Exports from Iran

For the fourth year in a row, Iran recorded growth in shipments abroad of polyurethanes in primary forms, which increased by 8.9% to X tons in 2021. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by 369% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, polyurethanes exports surged to $X in 2021. Over the period under review, exports continue to indicate strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 647%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) was the main destination for polyurethanes exports from Iran, accounting for a 50% share of total exports. Moreover, polyurethanes exports to Malaysia exceeded the volume sent to the second major destination, Armenia (X tons), fourfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Malaysia stood at +42.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+23.9% per year) and the United Arab Emirates (-3.8% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for polyurethanes in primary forms exports from Iran, comprising 33% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by Armenia, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Malaysia stood at +27.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-4.0% per year) and Armenia (+9.3% per year).

Export Prices by Country

In 2021, the average polyurethanes export price amounted to $X per ton, surging by 12% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 59%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Armenia ($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 Georgia (+36.0%), while the prices for the other major destinations experienced mixed trend patterns.

Polyurethanes Imports

Imports into Iran

In 2021, overseas purchases of polyurethanes in primary forms decreased by -30.8% to X tons, falling for the fourth year in a row after six years of growth. In general, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2015 with an increase of 74%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, polyurethanes imports reached $X in 2021. Over the period under review, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2017 when imports increased by 72% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons), Italy (X tons) and the United Arab Emirates (X tons) were the main suppliers of polyurethanes imports to Iran, together comprising 60% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +8.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Turkey ($X), Italy ($X) and the United Arab Emirates ($X) appeared to be the largest polyurethanes suppliers to Iran, together accounting for 59% of total imports.

Italy, with a CAGR of +4.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average polyurethanes import price amounted to $X per ton, growing by 50% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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