The net profit of Shahid Tondgooyan Petrochemical Company recorded a growth of 76% in the last fiscal year (ended March 20, 2021) compared to the previous year.
The company earned more than $105 million last year while the figure was $60 million a year ago, the National Petrochemical Company’s news website Nipna reported.
The company's sales also increased by 41% from $350 million to $500 million in the same period.
The company has achieved a rise in sales and net profit by increasing the production capacity and diversifying the production of new petrochemical items.
Production of polyethylene terephthalate, better known as PET, at Shahid Tondgooyan Petrochemical Company topped 107,000 tons in the first month of the current Iranian year (March 21-April 20).
Last year (ended March 20, 2021), the company produced a record 1.1 million tons of PET and plans to break its own record this year.
In addition to raising production, diversifying product portfolio is a priority of the company for boosting market share and curbing imports.
New PET Grades
In the past two years, more than 10 new PET grades have passed lab tests and entered the market. PET film grade (BoPET films) and PET bottle grade for use in the packaging and food industries are among recent products of the company.
Another product is a new grade of high viscose PET, also called engineering polyester yarn. It is used to produce industrial yarns with high strength. The use of engineering polyester yarn includes tire yarn, tarpaulin tents, sturdy fabrics, fishing nets, shipload ropes and conveyors.
The production of crystal PET for use in ovens and microwave containers is also underway. High tenacity polyester will be added to the company’s production soon.
The company is striving to gain the technical knowhow to produce three more grades of PET.
Established in 1998, STPC is located at the Petrochemical Special Economic Zone in the southwestern Khuzestan Province.
The feedstock para-xylene is supplied by Nouri Petrochemical Complex in Bushehr Province. The company uses 2,000 tons of p-Xylene per day or 750,000 tons per annum. It is the largest producer of PET products and pure terephthalic acid in Iran.
Global Markets
The global PET resin market was estimated at over 80 million tons in 2020 and the market is projected to register a CAGR of over 5% by 2026.
The global PET bottle market reached a volume of 13.1 million tons in 2020. The global PET bottle market is expected to exhibit moderate growth in the next few years.
PET bottles are more durable, transparent, lightweight, non-reactive, cost-effective and thermally stable. They are environment-friendly and can be recycled repeatedly, which further reduces their manufacturing cost.
