Monoethylene Glycol Market Report 2025

This Monoethylene Glycol report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The monoethylene glycol market size has grown strongly in recent years. It will grow from $35.55 billion in 2024 to $38.31 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to polyester production, antifreeze and coolants, fiber production, industrial solvents, glycol ethers.

The monoethylene glycol market size is expected to see strong growth in the next few years. It will grow to $54.06 billion in 2029 at a compound annual growth rate (CAGR) of 9%. The growth in the forecast period can be attributed to automotive electrification, renewable chemicals, textile recycling, medical and pharmaceutical, cosmetic and personal care. Major trends in the forecast period include advanced coatings, clean energy technologies, biodegradable plastics, packaging sustainability, pet (polyethylene terephthalate) bottle development.

The growth of the monoethylene glycol market is being significantly propelled by the rise in the packaging industry. Packaging, which involves enclosing or protecting products for distribution, storage, sale, and use, has witnessed a substantial increase in demand. This surge in the packaging industry directly contributes to the heightened demand for monoethylene glycol. For example, in 2021, the India Brand Equity Foundation reported a 200% increase in packaging demand and consumption in India, from 4.3 kgs per person per annum (PPPA) to 8.6 kgs PPPA. Additionally, sustainable packaging in India is projected to grow by 4-6%, reaching 770-800 kilo tons (KT) by 2024. Consequently, the upward trajectory of the packaging industry is a driving force for the monoethylene glycol market.

The monoethylene glycol market is anticipated to experience growth due to the expanding construction industry. The construction sector, involving activities such as planning, designing, constructing, maintaining, and repairing buildings and infrastructure, plays a crucial role. Monoethylene glycol (MEG) finds applications as a coolant in the construction industry, particularly in the cooling of concrete during the curing process. As indicated by the United States Census Bureau, the U.S. construction industry witnessed estimated spending at a seasonally adjusted annual rate of $1.98 trillion in August 2023, representing a 0.5% increase over the revised July estimate of $1.97 trillion. This figure is also 7.4% higher than the August 2022 estimate of $1.84 trillion. Therefore, the robust growth in the construction industry is fostering the expansion of the monoethylene glycol market.

Strategic partnerships have become a significant trend gaining traction in the monoethylene glycol market. Major companies in the monoethylene glycol sector are pursuing collaborations to strengthen their market presence. For example, in March 2022, Sojitz Corporation, a Japan-based trading company, entered into a partnership with Braskem S.A., a Brazil-based petrochemical company, to produce biomass-derived monoethylene glycol (bioMEG) and monopropylene glycol (bioMPG). As a result of this collaboration, a joint venture has been established to manufacture biomass-derived monoethylene glycol (bioMEG) and monopropylene glycol (bioMPG). Braskem, recognized as a market leader and pioneer in industrial-scale biopolymer production, has also been working with Haldor Topsoe A/S to innovate production processes for bioMEG and bioMPG, leveraging Haldor Topsoe A/S's advanced technology for this initiative.

Major companies in the microlending market are pursuing a strategic partnership approach to support microbusinesses and microfinance institutions. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For example, in October 2024, Sustainea, a Brazil-based Bio-MEG company, formed a partnership with Primient, a US-based producer of food and industrial ingredients. This collaboration aims to co-locate Primient's operations, allowing Primient to supply corn dextrose from its Lafayette, Indiana facility to Sustainea’s first Bio-MEG (monoethylene glycol) plant. This significant investment of around $400 million is intended to create a renewable, plant-based alternative to traditional petroleum-based MEG. Sustainea is strategically positioning itself to become a global leader in Bio-MEG, which is designed as a drop-in product that offers high quality and functionality while greatly reducing the carbon footprint compared to fossil-based alternatives.

In June 2022, Scott Bader Pvt Ltd. (SBPL, India), a manufacturer of advanced composites, structural adhesives, and functional polymers, acquired Satyen Polymers Pvt Ltd. for an undisclosed amount. This acquisition broadens SBPL's product offering, allowing them to provide Indian consumers with top-tier composite and adhesive products. Satyen Polymers Pvt. Ltd., a manufacturer of composite resins offering monoethylene glycol, is now part of this strategic expansion.

Major companies operating in the monoethylene glycol market include BASF SE, Dow Inc., LyondellBasell Industries Holdings B.V., Royal Dutch Shell plc, MEGlobal B.V., Reliance Industries Limited, Mitsubishi Chemical Corporation, Indian Oil Corporation Limited, Lotte Chemical Corporation, Nan Ya Plastics Corporation, India Glycols Limited, ExxonMobil Corporation, Formosa Plastics Corporation, China Petroleum & Chemical Corporation, SIBUR International GmbH [No information found], Nouryon Holding N.V., Libyan Norwegian Fertiliser Company, AkzoNobel N.V., Saudi Basic Industries Corporation, Vigo Chemicals FZE, Krada CPS Industry S.L., Bredox B.V., Chemie-Handel Schneider GmbH, ICC Chemical Corporation, EQUATE Petrochemical Company, INEOS Group Limited, National Iranian Oil Company, SHAZAND Petrochemical Complex Company, Oriental Union Chemical Corporation.

Asia-Pacific was the largest region in the mono ethylene glycol market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mono ethylene glycol market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the mono ethylene glycol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Monoethylene glycol (MEG) serves various purposes, including its use in the production of polyester and as a corrosion inhibitor in antifreeze and coolants. This colorless and odorless chemical is derived from ethylene through the manufacturing process of ethylene oxide.

The primary types of monoethylene glycol include gas-based, naphtha-based, coal-based, methane-to-olefins, and bio-based. Gas-based monoethylene is sourced from fossil fuels, which are the remnants of ancient plants and plankton. Applications of MEG span across various industries and products such as polyester fiber, polyethylene terephthalate resins, polyethylene terephthalate film, antifreeze, and others. End-users of monoethylene glycol include sectors like textiles and leather, packaging, adhesives and sealants, paints and coatings, chemicals, and more.

The mono ethylene glycol market research report is one of a series of new reports that provides mono ethylene glycol market statistics, including global market size, regional shares, competitors with a mono ethylene glycol market share, detailed mono ethylene glycol market segments, market trends and opportunities, and any further data you may need to thrive in the mono ethylene glycol industry. This mono ethylene glycol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The mono ethylene glycol market consists of sales of naphtha based mono ethylene glycol and gas based mono ethylene glycol. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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