This report provides a strategic assessment of the key elements of change expected in the petrochemical industry from the renewed acceptance and likely easing of sanctions in Iran. Before sanctions took hold and curtailed the development of the largely export-oriented industry, Iran had ambitious plans to develop a world scale petrochemical industry. When this development stalled other Middle Eastern players took advantage of the opportunity. However, a re-emergence of petrochemical momentum in Iran would undoubtedly have implications for the rest of the Middle East industry and how it develops. Nexant looks at the current state of the industry in Iran and evaluates how it will develop, assessing the real opportunities for investors and how this will impact the global markets.