Iran is the second major petrochemicals producer in the Persian Gulf region with 27 percent share of total products. Saudi Arabia with 50 percent share is the biggest producer, the Islamic Republic of Iran Broadcasting reported.
Qatar, Kuwait, Oman, the United Arab Emirates, and Bahrain rank the next in the list of biggest petchem producers of the Persian Gulf region.
According to forecasts, the region's nominal petrochemical production capacity, with a 46-percent increase, will reach 155 million tons by 2015. This amount will account for 20 percent of the world's total production.
Iran plans to implement 47 petrochemical projects by the end of the Fifth Five-Year Socio-Economic Development Plan in 2015, adding a total of 43 million tons per year to its capacity. Iran will represent at least 5.3 percent of global petrochemical output and 36 percent of Middle Eastern production once those projects come online.
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