Would like to add that this is an amazing song before I start! I'm not sure if I'm right but to me this is a reference to alcohol.
He starts off saying "A liquid embrace to chase the day way." which implies he uses it to rid himself of his problems. "So sweetly she draws me nigh" Shows that it helps him sleep. "Slips a ring of needles around your arm in an engagement, Eternal engagement" Shows that he has become an alcoholic. "Destroyer of senses. So take as needed for the pain." It shows its destroying his senses so he needs to take as much as need to get rid of his emotions. "My sweet demoness beckons me, Ever again and again and again and again and again." Shows that its a never ending cycle of addiction to something bad that helps (sweet demons). "Jacked up on the taste of self-destruction" shows that he now needs the alcohol which he knows his destroying him.
Sorry if that was wrong but it is just what I see from the lyrics, I'm only 15 so pardon my ignorance if I'm wrong.