Monoethylene Glycol Market to Grow with a CAGR of 3.21% through 2030

Rising Demand from the Polyester Industry and Rapid Urbanization and Rising Disposable Incomes are expected to drive the Global Monoethylene Glycol Market growth in the forecast period, 2026-2030

According to TechSci Research report, “Monoethylene Glycol Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F”, the Global Monoethylene Glycol Market stood at USD 25.82 Billion in 2024 and is anticipated to grow with a CAGR of 3.21% in the forecast period, 2026-2030.

A significant growth driver for the monoethylene glycol (MEG) market is the escalating use of polyethylene terephthalate (PET) in packaging, particularly across beverage bottles, food-grade containers, and personal care applications. As consumer lifestyles shift toward convenience and mobility, global PET bottle demand has surged. The material’s combination of lightweight properties, cost efficiency, and recyclability has secured its position as the dominant packaging substrate, firmly linking PET expansion to MEG consumption. Within this landscape, the rapid growth of bottled water, carbonated soft drinks, and ready-to-drink beverages stands out as a core demand accelerator.

The automotive and industrial sectors represent an expanding demand stream. MEG is a critical ingredient in antifreeze and coolant formulations, supporting engine performance, durability, and efficiency. With the global vehicle fleet increasing, particularly in emerging markets, demand for advanced coolants continues to rise. Beyond automotive, MEG also plays a role in industrial coolants and heat transfer fluids, further broadening its industrial relevance.

Industry dynamics are being reshaped by technological innovation and sustainability imperatives. Continuous advancements in petrochemical processes and the emergence of bio-based MEG derived from renewable feedstocks are gaining momentum. Growing pressure from regulators and brand owners to align with decarbonization and sustainability goals is accelerating the commercialization of bio-MEG, with adoption particularly strong in textiles and packaging value chains.

The sector faces headwinds from regional overcapacity, most notably in Asia Pacific. China’s aggressive capacity expansion, while aimed at securing self-sufficiency and export competitiveness, has created persistent oversupply conditions. This has triggered downward price pressure and eroded margins for many producers, particularly small and mid-sized firms unable to match the cost structures of large, vertically integrated players. The imbalance between supply and demand has also introduced cyclical volatility, discouraged new capital investments and raising financial risk profiles across saturated markets.

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The Global Monoethylene Glycol Market is segmented into application, end use, regional distribution, and company.

Based on the category of End Use, the Textile segment emerged as the dominating segment in the market for Monoethylene Glycol in 2024. The textile industry’s reliance on polyester produced through the polymerization of MEG with purified terephthalic acid (PTA) has been a defining factor. Polyester fibers are valued for their durability, elasticity, wrinkle resistance, and affordability, making them the preferred alternative to natural fibers such as cotton and silk. The combination of performance and cost-effectiveness has propelled polyester to become the world’s most widely used fiber, particularly in apparel, sportswear, home furnishings, and industrial fabrics.

Asia Pacific, led by China and India, has emerged as the textile manufacturing hub of the world, exporting polyester-based fabrics and apparel at massive volumes. This strong regional production capacity creates sustained and large-scale demand for MEG, reinforcing the textile segment’s dominant position. Rising disposable incomes, rapid urbanization, and evolving fashion trends in emerging markets are further stimulating demand for polyester clothing and home textiles. Another crucial driver is the versatility of polyester in technical textiles, including geotextiles, automotive interiors, filtration fabrics, and medical textiles. These specialized applications are steadily expanding MEG usage within the textile sector beyond traditional clothing and furnishing markets.

North America is positioned to record the fastest growth in the global monoethylene glycol (MEG) market, driven by a combination of robust industrial demand, supply-side restructuring, and increasing emphasis on sustainability-driven applications. The U.S. and Canada are experiencing strong growth in polyethylene terephthalate (PET) demand, particularly in packaging for beverages, food, and personal care products. A surge in bottled water and ready-to-drink categories, combined with a consumer shift toward lightweight and recyclable materials, has positioned PET as the leading packaging substrate in the region. With MEG serving as a primary feedstock for PET, rising PET consumption directly fuels market growth.

The region’s large vehicle fleet and steady growth in electric and hybrid vehicles are reinforcing MEG demand in antifreeze, de-icing agents, and heat transfer fluids. In colder climates such as Canada and the northern U.S., MEG-based coolants play an essential role in vehicle and industrial performance. The electrification of mobility is creating additional opportunities, as thermal management in EV batteries and charging infrastructure increasingly relies on high-performance coolant solutions.

Major companies operating in Global Monoethylene Glycol Market are:

• 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

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“The Global Monoethylene Glycol (MEG) Market is set to advance as a demand-driven and strategically significant segment of the petrochemicals industry, anchored by its central role in polyester fibers, PET packaging, and automotive coolants. While challenges such as feedstock price volatility, environmental pressures, and regional overcapacity create structural headwinds, the market’s long-term outlook remains strong. Accelerated urbanization, rising consumer expenditure, and the transition toward bio-based and circular MEG solutions will reshape growth dynamics, positioning MEG as a critical enabler of both industrial expansion and sustainable innovation in the global economy.,” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

“Monoethylene Glycol Market - Global Industry Size, Share, Trends, Opportunity & Forecast, Segmented By Application (PET, Polyester Fibers, Antifreeze, Other), By End Use (Packaging, Textile, Automotive, Plastics, Other), By Region & Competition, 2020-2030F”, has evaluated the future growth potential of Global Monoethylene Glycol Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Monoethylene Glycol Market.

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