China to dent global polyester growth in 2020, but challenges surmountable

With 2019 being a year focused on meeting challenges, both real and perceived, many market players in the polyester chain seemed resigned to seeing more pitfalls into the New Year. We have covered the main theme of overcapacity of varying degrees throughout the chain, in part one of this two-part Insight: Polyester chain proves resilient in 2019. Other headwinds include the economic fallout from the ongoing US-China trade war and geopolitical risks in various parts of the world, threatening to add pressure on the polyester chain in 2020. However, far from gloom and doom, the outlook for 2020 may yet see some bright spots. Industry consolidation between this year and 2020 would be setting the stage for better days to come, once growth picks up towards 2021 and beyond.