EghtesadOnline: The export of each ton of paint generates $2,200 on average, says an official with the Trade Promotion Organization of Iran, adding that the figure is five times higher than the average price of non-oil goods exported from Iran.
“Iran could expand its reach in international markets, considering the considerable demand for paint,” Neda Ataei, secretary of the desk for chemical and cellulose products at TPO, was quoted as saying by IRNA.
According to the official, Iran’s paint exports amounted to $82 million in 2017-18. It experienced a 15% growth in 2018-19 to $93 million.
“More than 1,000 paint production units are active in Iran and their nominal production capacity is estimated to stand at 12 million tons per year,” he added.
China is the leading destination for Iranian paint with a 27% share from total exports. Afghanistan follows with 24%, Iraq with 17% and Tajikistan with 13%.
According to Ataei, Iran paint imports are meager and limited to hi-tech products that cannot be produced inside the country.
She believes that neighboring countries have the potential to become lucrative destinations for Iranian paint, thanks to the well-established presence of Iranian businesses there.
The total exports of different types of paint stood at $21.7 billion in 2019, registering an 8.7% increase for global paint shippers over the five-year period starting 2015.
Germany accounted for 16.8% of total paint exports, followed by the United States and Japan.