Global Monoethylene Glycol (MEG) Market Size Study & Forecast, by Technology, Function, Application, and Regional Forecasts 2025-2035

The global monoethylene glycol (MEG) market is entering a phase of accelerated evolution, driven by an intensifying demand for polyester-based products, ongoing infrastructural expansions, and technological refinements in MEG production methodologies. As of 2024, the market is valued at approximately USD 46.04 billion, and it is projected to expand at a robust CAGR of 6.10% during the forecast period from 2025 to 2035, culminating in an anticipated valuation of USD 88.31 billion by 2035. MEG, a vital petrochemical derivative, serves as a foundational raw material in the manufacturing of polyester resins, fibers, and antifreeze formulations. Its multifunctional attributes-ranging from solvent and humectant properties to chemical intermediacy-render it indispensable across textile, packaging, automotive, and industrial domains.

The market's propulsion is significantly linked to the thriving polyester fiber and PET bottle industries, where MEG constitutes an essential ingredient. In recent years, an upward trajectory in beverage consumption and fast-fashion trends has stimulated substantial MEG utilization. Moreover, shifting focus toward sustainable alternatives has sparked innovation in bio-based MEG, particularly in developed markets where environmental mandates are tightening. Alongside this, gas-based and coal-based MEG production technologies are gaining traction due to cost-effectiveness and accessibility of raw materials, especially in resource-abundant economies. Market participants are also deploying advanced purification and catalytic processing methods to optimize production efficiency and reduce carbon footprints, ensuring regulatory compliance while maintaining profit margins.

Regionally, the Asia Pacific dominates the global MEG landscape, propelled by exponential growth in polyester fiber consumption and PET resin manufacturing in China, India, and Southeast Asia. These economies benefit from high population densities, rising middle-class income, and expanding industrial output. North America holds a notable position due to its mature chemical manufacturing ecosystem, streamlined logistics networks, and burgeoning demand for antifreeze solutions in the automotive sector. Meanwhile, Europe is experiencing a surge in green MEG adoption, fueled by stringent sustainability directives and innovation-led petrochemical policies. Additionally, regions such as Latin America and the Middle East & Africa are emerging as lucrative territories for MEG production and export, driven by government investments in downstream petrochemical projects and rising internal demand for textile and packaging materials.

Major market player included in this report are:

• BASF SE
• Chevron Phillips Chemical Company
• Eastman Chemical Company
• Halliburton Company
• Baker Hughes Company
• Schlumberger Limited
• Trican Well Service Ltd.
• Solvay S.A.
• Akrochem Corporation
• Arkema Group
• Croda International Plc.
• Aubin Group
• M&D Industries Of Louisiana, Inc.
• Impact Fluid Solutions
• Lanxess AG

Global Monoethylene Glycol (MEG) Market Report Scope:

• Historical Data - 2023, 2024
• Base Year for Estimation - 2024
• Forecast period - 2025-2035
• Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
• Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

By Technology:

• Gas-Based
• Naphtha-Based
• Coal-Based
• Bio-Based

By Function:

• Chemical Intermediate
• Solvent Coupler
• Solvent
• Humectant

By Application:

• Polyester Fiber
• PET Products
• Antifreeze Coolant
• Industrial

By Region:

North America:

• U.S.
• Canada

Europe:

• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific:

• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America:

• Brazil
• Mexico

Middle East & Africa:

• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:

• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.