Polyester market saw sharply falling sentiment in 2022

Polyester market saw sharply falling sentiment in 2022. The market fundamentals apparently changed. Above 5 million tons of new units started operation and the growth rate of capacity kept rising compared with 2021. However, the polyester production saw negative growth in 2022. In addition, polyester companies witnessed substantially decreasing profit with high cost and low demand. The operating rate and inventory of polyester enterprises gradually worsened.