Monoethylene Glycol Market to Reach USD 36.87 Billion by 2032 | SNS Insider

Rising demand for polyester-based apparel and eco-friendly coolants, coupled with advancements in MEG production technologies, is fueling robust monoethylene glycol market growth.

Austin, May 27, 2025 (GLOBE NEWSWIRE) -- The Monoethylene Glycol Market Size was valued at USD 26.78 billion in 2024 and is expected to reach USD 36.87 billion by 2032, growing at a CAGR of 5.96% over the forecast period of 2025-2032.  

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Expanding Applications and Sustainable Innovations Propel Growth in Key Industrial Glycol Market

The monoethylene glycol (MEG) market is expanding fast with its use in the production of PET for packaging and fibres. Increasing customer preference for environmentally-friendly packaging and lightweight textile fibers from around the world over, has boosted its demand. EIA data indicates that ethylene production will grow by 4.5% over the period 2022-2023, underpinning more production capacity for MEG. Industry heavyweights Dow Inc . and LyondellBasell are among those who say they are ramping up production to support this growth in demand. Besides industrial applications, MEG derivatives are increasingly used in personal care and cosmetics, indicating increased public awareness. Additionally, government backing in Europe and North America, describing recycling and bio-based raw materials, should further propel growth through 2032.

The US Monoethylene Glycol Market Size was valued at USD 1.04 billion in 2023, projected to reach USD 1.44 billion by 2032, growing at a CAGR of 4.19% over the forecast period of 2024-2032.

The U.S. monoethylene glycol market is witnessing a gradual growth with the increasing packaging and automobile sectors. The US Environmental Protection Agency (EPA) has promoted the use of MEG in greener packaging, and this is stimulating demand. Companies such as Royal Dutch Shell Chemical have stepped up production in order to meet demand at home, a sign of the market’s strength despite shifts in the supply chain.

Key Players:

• SABIC
• Dow Inc .
• LyondellBasell Industries
• India Glycols Limited
• Reliance Industries Limited
• Royal Dutch Shell Chemicals
• MEGlobal
• BASF SE
• Huntsman Corporation
• Exxon Mobil Chemical

Monoethylene Glycol Market Report Scope:

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Evolving Supply Chain Dynamics and Raw Material Cost Trends Shaping the Monoethylene Glycol Market

• Fluctuations in crude oil and natural gas prices directly impact the cost of ethylene, a primary raw material for Monoethylene Glycol production.
• Disruptions in global logistics and shipping, including container shortages and port delays, have caused intermittent supply chain bottlenecks affecting MEG availability.
• Increased investments in shale gas extraction, particularly in North America, have lowered ethylene feedstock costs, improving MEG production margins.
• Growing emphasis on sourcing bio-based ethylene as a sustainable alternative is influencing raw material pricing and supply chain diversification strategies.
• Trade policies and tariffs between major producing and consuming countries, such as the US, China, and Europe, continue to affect import-export costs and MEG market pricing dynamics.

By Application, the PET Segment Dominated the Monoethylene Glycol Market in 2023 with a 68% Market Share

This growth is led by the increasing use of PET bottles and packaging materials in the food and beverage industry and the growing tendency of consumers towards lightweight, recyclable packaging materials. Powerful packaging groups Amcor and Ball Corp Corporation have ramped up their use of PET, fueling demand for MEG. Moreover, the use of PET fibers for durable, versatile fabrics by the textile industry also contributes to the continued strength in the PET resin market. Demand for PET recycling Despite the continuous sustainability campaigns on recycling PET products, it is anticipated that growth in this segment market will continue throughout the entire 2022.

By End-use Industry, Textile Dominated the Monoethylene Glycol Market in 2023 with a 42% Market Share

MEG is a key raw material for polyester fibers, which are in turn used in making textiles around the world. The growing demand for polyester apparel and home textiles, with technological advancements in moisture-wicking and durable fabrics, has contributed to the growth of this segment. Companies such as Invista and Toray have indicated increased polyester fiber production in North America and Asia, highlighting the integral part MEG plays in the value chain. The wear is also supported by growing clothing consumption in developing countries and growing investment in technical textiles.

Asia Pacific dominated the Monoethylene Glycol Market in 2023, Holding a 42% Market Share

The region’s leadership is a result of fast-paced industrialization, increasing textile manufacturing hubs in China and India, and surging packaging demand. The growing downstream sector, along with chemicals capacity expansion, backed by favorable government schemes, makes Asia Pacific the leading MEG consumer. For instance, Reliance Industries' large-scale MEG increases in capacity in India, as well as the further increase in polyester fiber output in China, emphasize the market domination in this part of the world. Other than this, increased bio-based MEG project investments are scaling up the sustainable growth in the region.

North America Emerged as the Fastest Growing Region in the Monoethylene Glycol Market with A Significant Growth Rate in The Forecast Period

This increase is influenced by growing demand from the packaging and automotive industries for eco-friendly and light weight materials. US government support for bio-based chemical production and the increasing importance of shale gas ethylene feedstock will give cost benefit. Companies including Dow and LyondellBasell are committed to making capacity expansions and technology upgrades to serve to growing demand. Additionally, increasing eco-friendly antifreeze formulations and burgeoning polyester textile output in the region are boosting the market growth.

Recent Developments

• October 2024: Sustainea and Primient planned a $400M Bio-MEG plant in Indiana, boosting sustainable MEG production and local employment by 2028.
• June 2024: TechnipFMC Energies acquired  Royal Dutch Shell ’s glycol purification tech to advance bio-based MEG production, aiming for commercial launch by 2025.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Monoethylene Glycol Market Segmentation, By Application

8. Monoethylene Glycol Market Segmentation, By End User Industry

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practice

12. Conclusion

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