Experts at an Iranian refinery have mastered the knowledge needed for production of special polymer plastic material used in the production of insulin syringes.

The CEO of the Shazand Petrochemical Company, a major refinery complex located in central Iran, said on Sunday that researchers working at the facility had managed to obtain the know-how needed for production of syringe-grade polymer known as RP801.

Ebrahim Valadkhani said the special plastic, which is also used on a wide scale in thin wall packaging industries, had become a key need of syringe-producing factories in Iran, especially after a South Korean company stopped supplying the material to the country due to the American sanctions.

“The Shazand Petrochemicals is supplying the entire demand of the country to raw materials needed for production of various types of syringes in 5,000 manufacturing units,” said Valadkhani, adding, “(This) has saved the country more than $10 million (a year).”

Earlier reports had suggested that access to RP801, a type of polypropylene used in production of prefillable three-part syringes, including insulin syringes, had become difficult for Iranian manufacturers after South Korea’s industrial conglomerate Hyosung stopped exporting the material to Iran under increasing pressure from the United States.

Estimates suggest the domestic production of the polymer would respond to a potential demand of up to 34,000 tons a year while it would lead to more hard currency revenues for the government once exports to other countries begin.

Iran’s petrochemical sector has seen a rapid growth since the United States imposed its bans on the country’s direct sale of oil in November last year.

The government hopes it could generate around $25 billion in revenues from the sector by 2021.