The commercial industrial gases market in Iran is estimated to have generated revenues of $280 million in 2016. This is an increase from $100 million in 2006, indicating an average annual growth rate of 10.5% p.a.
The rate GDP has experienced large periods of double digit growth over the past decade. However, the rate of GDP declined drastically by -33% in 2012. This was followed by a slight recovery and then further decline in 2015 of -9.8%. Marginal growth returned in 2016, at under 1%.
Report Data: 2018
Within the 2018-2023 timeframe, gasworld business intelligence predict growth from 6.4% p.a. in a low scenario to 10.1% p.a. in a high scenario. Accordingly, the industry in the UAE is expected to achieve revenues of between $526m to $625m by 2023.
As the countdown begins to gasworld’s MENA Industrial Gas Conference 2019 in Dubai this December, less than 10 weeks away, Rob Cockerill looks at the past, present and future specialty gases market in Iran with local player Dayan Gas.
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