MARKET ANALYSIS | IRAN


Iran’s plastics industry renews global contact


The end of UN sanctions last year has stimulated Iran’s economy and opened up potential for growth in its large plastics sector. AMI’s new Database of Plastics Processors in Iran surveys the scene


The lifting of certain UN sanctions in 2016 means – after a decade of restricted investment and trading opportunities – Iran is now able to trade more freely with the international community. And, as the biggest market to enter the global economy in more than a decade, the country offers real potential for exporters in most sectors, including plastics materials and machinery. Business opportunities in Iran are underpinned


by a range of attributes. The country has: n A population of around 80 million (the second largest in the Middle East after Egypt);


n A young demographic (60% are estimated to be under 30 years old);


12 INJECTION WORLD | September 2017


n A highly-educated workforce; n Plentiful natural resources; n A strategic location between Western and Eastern markets. In 2016 the EU exported over €8.2bn-worth of goods to Iran, an increase of 27.8% on the previous year. Exports consisted mainly of machinery and transport equipment, chemicals and manufactured goods. The EU’s imports from Iran increased by nearly 350%, although three-quarters of this was accounted for by oil products. Among the biggest commercial breakthroughs have been contracts with the aircraft manufacturers Airbus and Boeing for the delivery to Iran of almost 200 aircraft, and an agreement with French car manufacturer Peugeot-Citroen (PSA) to invest €400m in a 50/50 joint venture with an Iranian company. The latter represents the ‘legal’ re- establishment of a formerly-existing partnership in a market that ranked as PSA’s second-biggest in the world before the sanctions were imposed. The French oil company Total recently contracted with The National Iranian Oil Company for development of two oil fields with over 30 oil wells. According to Total, the project value is €1.9bn.


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