As the calendar turns, the entire polyester chain faces a general malaise of overcapacity, which regularly extends into oversupply for most markets. This dynamic has ultimately forced production cutbacks and asset rationalisation. Demand in key markets has been badly dented for a myriad of reasons; coupled with the supply glut, the imbalances for paraxylene, PTA and MEG are worsening while polyester products (like bottle-grade PET) are also facing a similar fate. In this environment, 2023 is shaping up to be a challenging year for the polyester value chain. Download the insight attached to find out why we believe 5 themes which will define the new year include overcapacity, dented demand, precarious pricing and profitability, a shifting investment landscape and ramping recycling.