The US and the world is now nearly through one year of the Trump Administration. Although this has shaken up international global norms, from an economic prospective, we have seen US economic growth improve to the 3% range over the last two quarters, but will it last?
On the energy front, OPEC's agreement to production cuts has held, helping stabilize prices in the upstream polyester intermediates markets. However, the Americas polyester markets have been roiled by the restructuring of M&G, affecting the time table of its large integrated PTA/PET resin plant at Corpus Christi, Texas and possibly the conversion of a PET resin line to polyester staple fibre by another polyester producer. On the MEG side, major new capacity additions are still expected to be on stream by 2019, making regional polyester producers more competitive on the global market.
Combined, these factors will likely change the nature of the polyester and upstream intermediates markets over the next few years and could very well have implications for the polyester industry for years to come.
Join us as we discuss and analyse those issues in depth at our PCI Wood Mackenzie Americas Polyester Conference, 21 - 22 February in Houston