Monoethylene Glycol Market - Global Industry Size, Share, Trends, Opportunity & Forecast, Segmented By Application, By End Use, By Region, & Competition, 2020-2030F
Global Monoethylene Glycol market was valued at USD 25.82 Billion in 2024 and is expected to reach USD 31.21 Billion by 2030 with a CAGR of 3.21%. The Global Monoethylene Glycol (MEG) Market forms a cornerstone of the petrochemicals sector, anchored by its essential function as a precursor in the manufacture of polyester fibers, polyethylene terephthalate (PET) resins, and automotive antifreeze blends. Its broad applicability across textiles, packaging, automotive, and industrial fluids underscores MEG's strategic relevance as a value-chain enabler in global manufacturing and trade.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 25.82 Billion
Market Size 2030
USD 31.21 Billion
CAGR 2025-2030
3.21%
Fastest Growing Segment
Polyethylene Terephthalate (PET)
Largest Market
Asia Pacific
The market operates as a volume-intensive and highly competitive arena, shaped by the dual forces of surging polyester demand and escalating consumption of recyclable PET packaging. Asia Pacific dominates both supply and demand dynamics, driven by China's expansive polyester production base and the region's role as a global export hub. Looking ahead, the sector's trajectory is increasingly defined by sustainability-linked innovations, including the scale-up of bio-based MEG and integration into circular PET recycling systems. These developments, combined with structural growth in urban consumption and technical textile applications, position MEG as a future-critical petrochemical with expanding industrial and environmental significance.
Key Market Drivers
Rising Demand from the Polyester Industry
The polyester industry represents the single largest consumer of monoethylene glycol (MEG), making it the most influential driver of global market growth. MEG is a critical raw material in the production of polyester fibers, yarns, and resins, and its demand trajectory is tightly linked to the expansion of the textile, apparel, and packaging industries worldwide. Polyester has overtaken cotton as the most widely used fiber globally, accounting for more than half of total fiber consumption. Its popularity stems from its affordability, durability, versatility, and ease of care, making it an essential material in apparel, home furnishings, industrial fabrics, and technical textiles. This structural shift in consumer and industrial preference ensures sustained and large-scale MEG demand. The fast fashion industry has transformed global textile consumption patterns, emphasizing low-cost, trend-driven clothing with rapid turnover. Polyester's adaptability and cost competitiveness make it the backbone of fast fashion supply chains. Rising disposable incomes, particularly in urban markets, are fueling demand for affordable clothing, reinforcing MEG consumption in polyester fiber production.
Beyond apparel, polyester has found extensive applications in technical textiles such as geotextiles, automotive fabrics, medical textiles, filtration media, and protective clothing. These industrial applications are expanding rapidly with infrastructure growth, automotive demand, and healthcare advancements, thereby creating additional layers of MEG demand. Polyethylene terephthalate (PET), derived from MEG, is widely used in packaging-particularly for beverage bottles, food containers, and consumer goods. The global shift toward lightweight, recyclable, and cost-efficient packaging solutions has accelerated PET adoption, amplifying the link between polyester demand and MEG growth. Asia Pacific, especially China and India, has become the global hub for polyester production, exporting polyester fibers, yarns, and fabrics at scale. With robust manufacturing ecosystems, low-cost production, and rising domestic consumption, these countries are driving a disproportionate share of MEG demand. Their role in global supply chains ensures that the polyester industry remains a powerful engine for MEG growth.
Key Market Challenges
Volatility in Crude Oil and Feedstock Prices
Monoethylene glycol is primarily produced from ethylene, which is derived from crude oil and natural gas. As a result, MEG production costs are highly sensitive to fluctuations in crude oil prices. Geopolitical tensions, supply chain disruptions, and OPEC's production strategies often create sharp price swings, impacting profit margins for MEG producers. This volatility makes long-term planning difficult for both manufacturers and end-users, while also creating pricing instability in downstream industries such as textiles and packaging. For developing economies with cost-sensitive industries, these fluctuations can significantly restrict growth and competitiveness.
Key Market Trends
Shift Toward Bio-Based and Renewable MEG
A defining trend in the MEG industry is the transition from fossil fuel-derived production toward bio-based and renewable feedstocks. With global pressure to reduce carbon emissions and reliance on petrochemicals, companies are investing heavily in biotechnology and renewable chemistry to produce MEG from sugarcane, corn, or biomass. Bio-MEG not only helps companies align with ESG (Environmental, Social, and Governance) targets but also appeals to brand owners in textiles, packaging, and consumer goods who are under growing pressure to adopt sustainable raw materials. Over time, the scalability and cost competitiveness of bio-MEG will become a major factor shaping the future industry landscape.
Key Market Players
MEGlobal
Ishtar Company LLC
Rahaoil, Inc
India Glycols Limited
Kimia Pars Co.
LyondellBasell Industries Holdings B.V.
Arham Petrochem Private Limited
Indian Oil Corporation Ltd
Pon Pure Chemicals Group
Acuro Organics Limited
Report Scope:
In this report, the Global Monoethylene Glycol Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Monoethylene Glycol Market, By Application:
PET
Polyester Fibers
Antifreeze
Other
Monoethylene Glycol Market, By End Use:
Packaging
Textile
Automotive
Plastics
Other
Monoethylene Glycol Market, By Region:
North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia-Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Monoethylene Glycol Market.
Available Customizations:
Global Monoethylene Glycol market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Impact of COVID 19 on Global Monoethylene Glycol Market
5. Monoethylene Glycol Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Application (PET, Polyester Fibers, Antifreeze, Other)
5.2.2. By End Use (Packaging, Textile, Automotive, Plastics, Other)
5.2.3. By Region
5.2.4. By Company (2024)
5.3. Market Map
6. North America Monoethylene Glycol Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Application
6.2.2. By End Use
6.2.3. By Country
6.3. North America: Country Analysis
6.3.1. United States Monoethylene Glycol Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value & Volume
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Application
6.3.1.2.2. By End Use
6.3.2. Canada Monoethylene Glycol Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value & Volume
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Application
6.3.2.2.2. By End Use
6.3.3. Mexico Monoethylene Glycol Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value & Volume
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Application
6.3.3.2.2. By End Use
7. Europe Monoethylene Glycol Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Application
7.2.2. By End Use
7.2.3. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Monoethylene Glycol Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value & Volume
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Application
7.3.1.2.2. By End Use
7.3.2. United Kingdom Monoethylene Glycol Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value & Volume
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Application
7.3.2.2.2. By End Use
7.3.3. Italy Monoethylene Glycol Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value & Volume
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Application
7.3.3.2.2. By End Use
7.3.4. France Monoethylene Glycol Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value & Volume
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Application
7.3.4.2.2. By End Use
7.3.5. Spain Monoethylene Glycol Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value & Volume
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Application
7.3.5.2.2. By End Use
8. Asia-Pacific Monoethylene Glycol Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Application
8.2.2. By End Use
8.2.3. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Monoethylene Glycol Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value & Volume
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Application
8.3.1.2.2. By End Use
8.3.2. India Monoethylene Glycol Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value & Volume
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Application
8.3.2.2.2. By End Use
8.3.3. Japan Monoethylene Glycol Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value & Volume
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Application
8.3.3.2.2. By End Use
8.3.4. South Korea Monoethylene Glycol Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value & Volume
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Application
8.3.4.2.2. By End Use
8.3.5. Australia Monoethylene Glycol Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value & Volume
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Application
8.3.5.2.2. By End Use
9. South America Monoethylene Glycol Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Application
9.2.2. By End Use
9.2.3. By Country
9.3. South America: Country Analysis
9.3.1. Brazil Monoethylene Glycol Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value & Volume
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Application
9.3.1.2.2. By End Use
9.3.2. Argentina Monoethylene Glycol Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value & Volume
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Application
9.3.2.2.2. By End Use
9.3.3. Colombia Monoethylene Glycol Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value & Volume
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Application
9.3.3.2.2. By End Use
10. Middle East and Africa Monoethylene Glycol Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Application
10.2.2. By End Use
10.2.3. By Country
10.3. MEA: Country Analysis
10.3.1. South Africa Monoethylene Glycol Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value & Volume
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Application
10.3.1.2.2. By End Use
10.3.2. Saudi Arabia Monoethylene Glycol Market Outlook
10.3.2.1. Market Size & Forecast
10.3.2.1.1. By Value & Volume
10.3.2.2. Market Share & Forecast
10.3.2.2.1. By Application
10.3.2.2.2. By End Use
10.3.3. UAE Monoethylene Glycol Market Outlook
10.3.3.1. Market Size & Forecast
10.3.3.1.1. By Value & Volume
10.3.3.2. Market Share & Forecast
10.3.3.2.1. By Application
10.3.3.2.2. By End Use
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
12.1. Recent Developments
12.2. Product Launches
12.3. Mergers & Acquisitions
13. Global Monoethylene Glycol Market: SWOT Analysis