Monoethylene Glycol Market By Product Type (Purified Terephthalic Acid (PTA), Ethylene Oxide (EO), Monoethylene Glycol Products), By End-Use Industry (Automotive, Textiles & Fabrics, Packaging, Construction, Industrial Applications), By Application (Antifreeze & Coolants, Polyester Resins, Polyethylene Terephthalate (PET), Surface Coatings); Global Insights & Forecast (2023 – 2030)

As per Intent Market Research, the Monoethylene Glycol Market was valued at USD 21.3 Billion in 2024-e and will surpass USD 30.2 Billion by 2030; growing at a CAGR of 5.2% during 2025-2030.

The monoethylene glycol (MEG) market plays a significant role in the global chemical industry, serving as a vital component in the production of antifreeze, coolants, and a range of industrial chemicals. MEG is primarily derived from ethylene oxide and is widely used in polyester resins, textile manufacturing, automotive coolants, and polyethylene terephthalate (PET) production. As industries continue to grow, especially in emerging economies, the demand for MEG is expected to rise, driven by its diverse applications in key sectors like automotive, packaging, and textiles. The global push towards more sustainable and efficient production processes is also expected to influence the MEG market's development in the coming years.

Key drivers of the MEG market include industrial growth in emerging economies, a surge in demand for PET packaging, and advancements in automotive technologies. The polyester segment, in particular, is one of the largest consumers of MEG, as polyester fibers are essential for textiles, upholstery, and packaging materials. Additionally, the global automotive industry's demand for coolant and antifreeze solutions is pushing the growth of the MEG market. The evolution of MEG production technologies and increasing consumption in energy-efficient products is shaping the future trajectory of the market.

Product Type Segment Is Largest Owing to Purified Terephthalic Acid (PTA)

Among the different product types in the monoethylene glycol market, Purified Terephthalic Acid (PTA) holds the largest share. PTA is a crucial component in the production of polyethylene terephthalate (PET), which is used extensively in the production of plastic bottles, packaging materials, and textile fibers. The global demand for PET, driven by the growth of the packaging industry, has cemented PTA as a dominant product type in the MEG market. The production of PTA requires substantial amounts of MEG, making it the largest subsegment within the MEG product type category.

The growing demand for sustainable packaging solutions, particularly in the food and beverage industry, has fueled the rise in PET production. This shift towards eco-friendly packaging is directly boosting PTA's demand, and in turn, the consumption of MEG. Additionally, as consumer preference for lightweight and durable packaging grows, the need for PET-based products, which are derived from PTA and MEG, is expected to increase. As a result, the PTA product segment in the MEG market is poised for continuous growth, further bolstered by technological advancements that streamline the production process.

End-Use Industry Segment Is Largest Owing to Textiles & Fabrics

In the end-use industry segment, the textiles and fabrics industry is the largest consumer of monoethylene glycol. MEG is a critical raw material in the production of polyester, which is widely used in clothing, upholstery, and other fabric-based products. The increasing demand for synthetic fibers in fashion and home furnishings has significantly driven the consumption of MEG. As global textile manufacturing continues to expand, particularly in Asia-Pacific, MEG’s role in this sector remains pivotal.

Polyester, produced using MEG, is highly favored due to its durability, cost-effectiveness, and versatility. The growing demand for affordable and durable textiles in emerging markets, coupled with the continuous innovation in the textile industry, is expected to sustain the demand for MEG in this sector. Furthermore, the increasing emphasis on sustainable and eco-friendly materials in textiles is likely to further drive the adoption of MEG-based polyester resins. As the textile industry expands, MEG’s consumption in this sector will remain strong, securing its position as a key driver of market growth.

Application Segment Is Fastest Growing Owing to Polyester Resins

In the application segment, the polyester resins market is growing the fastest and significantly contributing to the rise in MEG demand. Polyester resins are used in a wide range of applications, including coatings, adhesives, and molded products. As the demand for durable and high-performance materials increases, especially in the construction and automotive industries, the need for polyester resins has surged. MEG is a key ingredient in the production of polyester resins, which are widely used for their superior properties, such as high strength, chemical resistance, and weathering durability.

The growth of the construction industry, driven by increasing urbanization, is further propelling the demand for polyester resins. Additionally, advancements in resin technologies that enhance performance and reduce environmental impact are expected to drive further demand for MEG in resin applications. The rapid adoption of polyester resins in various industries due to their versatile properties makes this segment the fastest-growing in the MEG market, with significant potential for growth in the coming years.

Fastest Growing Region Is Asia-Pacific

The Asia-Pacific region is experiencing the fastest growth in the monoethylene glycol market. This can be attributed to the rapid industrialization and urbanization in key countries such as China and India, which are driving demand for MEG in various end-use industries. The textile and automotive industries in Asia-Pacific are particularly strong, with China being the largest producer and consumer of polyester products globally. The demand for MEG in PET production, packaging, and automotive applications is growing exponentially in this region.

Moreover, Asia-Pacific's increasing focus on sustainability and green technologies is expected to boost the demand for eco-friendly products such as PET and polyester resins, further contributing to MEG's growth in the region. The rapid expansion of manufacturing and infrastructure development in countries across Asia is making this region the fastest-growing market for monoethylene glycol, with significant opportunities for market players to capitalize on emerging trends.

Competitive Landscape: Leading Companies and Market Dynamics

The monoethylene glycol market is highly competitive, with several key players dominating the landscape. Leading companies such as Dow Inc., SABIC, Reliance Industries Ltd., LyondellBasell Industries, and Formosa Plastics Corporation are the major contributors to the MEG supply chain. These companies benefit from strong production capabilities, extensive distribution networks, and significant investments in research and development. The ability to maintain a competitive edge through technological advancements and innovative solutions has enabled these players to capture substantial market share.

Additionally, strategic mergers and acquisitions have been a common trend among key market players, enabling them to expand their product offerings and geographic reach. For instance, companies are increasingly focusing on the development of more energy-efficient MEG production processes and exploring opportunities in the renewable energy sector to meet the growing demand for sustainable solutions. As the MEG market continues to evolve, leading companies are expected to invest in capacity expansion, regional diversification, and technology innovations to strengthen their market position and cater to the growing global demand.

Recent Developments:

  • Dow Inc. announced the expansion of its Monoethylene Glycol (MEG) production capacity in the U.S., to meet rising demand in automotive and textile applications.
  • SABIC launched a new, high-performance MEG product that reduces energy consumption in the production of polyester resins, providing an eco-friendly solution for the textile industry.
  • Reliance Industries Ltd. signed a strategic partnership with several leading chemical firms to enhance MEG supply chain capabilities in Asia-Pacific, boosting regional growth.
  • LyondellBasell Industries received regulatory approval for its state-of-the-art MEG production facility in Europe, focused on improving sustainability and reducing carbon emissions.
  • Mitsubishi Chemical Corporation completed the acquisition of a leading ethylene glycol manufacturing plant, expanding its footprint in the global MEG market.

List of Leading Companies:

  • XXXXX

Report Scope:

Report Features

Description

Market Size (2024-e)

USD 21.3 Billion

Forecasted Value (2030)

USD 30.2 Billion

CAGR (2025 – 2030)

5.2%

Base Year for Estimation

2024-e

Historic Year

2023

Forecast Period

2025 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Monoethylene Glycol Market By Product Type (Purified Terephthalic Acid (PTA), Ethylene Oxide (EO), Monoethylene Glycol Products), By End-Use Industry (Automotive, Textiles & Fabrics, Packaging, Construction, Industrial Applications), By Application (Antifreeze & Coolants, Polyester Resins, Polyethylene Terephthalate (PET), Surface Coatings)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

Dow Inc., Royal Dutch Shell, SABIC (Saudi Basic Industries Corporation), Reliance Industries Ltd., LyondellBasell Industries, Indian Oil Corporation Ltd., LG Chem, China Petroleum & Chemical Corporation (Sinopec), Formosa Plastics Corporation, BASF SE, Huntsman Corporation, Ineos Group, Mitsubishi Chemical Corporation, Hindustan Petroleum Corporation Ltd., China National Petroleum Corporation (CNPC)

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Monoethylene Glycol Market, by Product Type (Market Size & Forecast: USD Million, 2023 – 2030)

   4.1. Purified Terephthalic Acid (PTA)

   4.2. Ethylene Oxide (EO)

   4.3. Other Monoethylene Glycol Products

5. Monoethylene Glycol Market, by End-Use Industry (Market Size & Forecast: USD Million, 2023 – 2030)

   5.1. Automotive

   5.2. Textiles & Fabrics

   5.3. Packaging

   5.4. Construction

   5.5. Industrial Applications

6. Monoethylene Glycol Market, by Application (Market Size & Forecast: USD Million, 2023 – 2030)

   6.1. Antifreeze & Coolants

   6.2. Polyester Resins

   6.3. Polyethylene Terephthalate (PET)

   6.4. Surface Coatings

   6.5. Other Applications

7. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030)

   7.1. Regional Overview

   7.2. North America

      7.2.1. Regional Trends & Growth Drivers

      7.2.2. Barriers & Challenges

      7.2.3. Opportunities

      7.2.4. Factor Impact Analysis

      7.2.5. Technology Trends

      7.2.6. North America Monoethylene Glycol Market, by Product Type

      7.2.7. North America Monoethylene Glycol Market, by End-Use Industry

      7.2.8. North America Monoethylene Glycol Market, by Application

      7.2.9. By Country

         7.2.9.1. US

               7.2.9.1.1. US Monoethylene Glycol Market, by Product Type

               7.2.9.1.2. US Monoethylene Glycol Market, by End-Use Industry

               7.2.9.1.3. US Monoethylene Glycol Market, by Application

         7.2.9.2. Canada

         7.2.9.3. Mexico

    *Similar segmentation will be provided for each region and country

   7.3. Europe

   7.4. Asia-Pacific

   7.5. Latin America

   7.6. Middle East & Africa

8. Competitive Landscape

   8.1. Overview of the Key Players

   8.2. Competitive Ecosystem

      8.2.1. Level of Fragmentation

      8.2.2. Market Consolidation

      8.2.3. Product Innovation

   8.3. Company Share Analysis

   8.4. Company Benchmarking Matrix

      8.4.1. Strategic Overview

      8.4.2. Product Innovations

   8.5. Start-up Ecosystem

   8.6. Strategic Competitive Insights/ Customer Imperatives

   8.7. ESG Matrix/ Sustainability Matrix

   8.8. Manufacturing Network

      8.8.1. Locations

      8.8.2. Supply Chain and Logistics

      8.8.3. Product Flexibility/Customization

      8.8.4. Digital Transformation and Connectivity

      8.8.5. Environmental and Regulatory Compliance

   8.9. Technology Readiness Level Matrix

   8.10. Technology Maturity Curve

   8.11. Buying Criteria

9. Company Profiles

   9.1. Dow Inc.

      9.1.1. Company Overview

      9.1.2. Company Financials

      9.1.3. Product/Service Portfolio

      9.1.4. Recent Developments

      9.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   9.2. Royal Dutch Shell

   9.3. SABIC (Saudi Basic Industries Corporation)

   9.4. Reliance Industries Ltd.

   9.5. LyondellBasell Industries

   9.6. Indian Oil Corporation Ltd.

   9.7. LG Chem

   9.8. China Petroleum & Chemical Corporation (Sinopec)

   9.9. Formosa Plastics Corporation

   9.10. BASF SE

   9.11. Huntsman Corporation

   9.12. Ineos Group

   9.13. Mitsubishi Chemical Corporation

   9.14. Hindustan Petroleum Corporation Ltd.

   9.15. China National Petroleum Corporation (CNPC)

10. Appendix

A comprehensive market research approach was employed to gather and analyze data on the Monoethylene Glycol Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Monoethylene Glycol Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Monoethylene Glycol Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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