Global Monoethylene Glycol Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities

The Monoethylene Glycol Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Monoethylene Glycol Market Size Expected to Be by 2034?
The market size for monoethylene glycol has experienced robust growth in recent years. Projected to expand from $35.55 billion in 2024 to $38.31 billion in 2025, it promises a compound annual growth rate (CAGR) of 7.8%. Factors contributing to this growth in the historical period include the production of polyester, antifreeze, coolants, fiber, industrial solvents, and glycol ethers.

The market size of monoethylene glycol is predicted to experience considerable expansion in the subsequent years, with an expected rise to $54.06 billion in 2029 at a compounded annual growth rate (CAGR) of 9.0%. Various elements can contribute to this growth during the projected timeframe, such as automotive electrification, sustainable chemicals, textile recycling, and medical, pharmaceutical, cosmetic, and personal care. Significant trends expected to dominate the projection period include advanced coatings, green energy technologies, biodegradable plastics, sustainable packaging, and the development of PET (polyethylene terephthalate) bottles.

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What Are the Emerging Segments Within the Monoethylene Glycol Market?
The monoethylene glycol market covered in this report is segmented -

1) By Production Process: Gas-Based, Naphtha-Based, Coal-Based, Methane-to-Olefins (MTO), Bio-Based
2) By Application: Polyester Fiber, Polyethylene Terephthalate (PET) Resins, Polyethylene Terephthalate (PET) Film, Antifreeze, Other Applications
3) By End Users: Textiles and Leather, Packaging, Adhesives and Sealants, Paints and Coatings, Chemical, Other End Users

Subsegments:
1) By Gas-Based: Steam Cracking, Oligomerization
2) By Naphtha-Based: Catalytic Cracking, Hydrocracking
3) By Coal-Based: Gasification, Liquefaction
4) By Methane-to-Olefins (MTO): Direct MTO Process, Indirect MTO Process
5) By Bio-Based: Ethanol-Based Process, Renewable Feedstocks Process

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What Long-Term Drivers Are Shaping Monoethylene Glycol Market Trends?
The burgeoning packaging industry is playing a pivotal role in driving the growth of the mono ethylene glycol market. The process of packaging involves safeguarding products for a multitude of purposes including distribution, storage, sale and usage. Consequently, as the demand in the packaging industry escalates, there's a parallel increase in the demand for mono ethylene glycol. For example, as of 2022, the packaging industry in India is witnessing an annual growth of 14-15%, which is expected to double in the coming two years. As per the data from the Indian Packaging Institute, the industry is currently worth USD 14 billion and is proliferating at a pace of more than 15% annually. Thus, the upswing in the packaging industry is propelling the market growth of mono ethylene glycol in the foreseeable future.

Who Are the Top Competitors in Key Monoethylene Glycol Market Segments?
Major companies operating in the monoethylene glycol market include BASF SE, Dow Inc., LyondellBasell Industries Holdings B.V., Royal Dutch Shell plc, MEGlobal B.V., Reliance Industries Limited, Mitsubishi Chemical Corporation, Indian Oil Corporation Limited, Lotte Chemical Corporation, Nan Ya Plastics Corporation, India Glycols Limited, ExxonMobil Corporation, Formosa Plastics Corporation, China Petroleum & Chemical Corporation, SIBUR International GmbH [No information found], Nouryon Holding N.V., Libyan Norwegian Fertiliser Company, AkzoNobel N.V., Saudi Basic Industries Corporation, Vigo Chemicals FZE, Krada CPS Industry S.L., Bredox B.V., Chemie-Handel Schneider GmbH, ICC Chemical Corporation, EQUATE Petrochemical Company, INEOS Group Limited, National Iranian Oil Company, SHAZAND Petrochemical Complex Company, Oriental Union Chemical Corporation

What Monoethylene Glycol Market Trends Are Gaining Traction Across Different Segments?
Strategic alliances are becoming a major trend in the mono ethylene glycol market, with key players securing such partnerships to strengthen their market stance. For instance, Sojitz Corporation, a trading enterprise based in Japan, teamed up with Braskem S.A., a Brazil-based petrochemical firm, in March 2022 to manufacture biomass-derived monoethylene glycol (bioMEG) and monopropylene glycol (bioMPG). This collaboration led to the creation of a joint company purposed for bioMEG and bioMPG production. It's pertinent to mention that Braskem, a market frontrunner in producing biopolymers on an industrial scale, has been working with Haldor Topsoe A/S to create pioneering production procedures for bioMEG and bioMPG, making use of Haldor Topsoe A/S's primary technology for this initiative. A pilot plant commenced operations in 2020, with the new joint venture between Sojitz and Braskem set to prioritize expanding this production process for commercial use. Sojitz plans to advance these sustainable materials by harnessing its broad global customer networks spanning multiple sectors, such as chemicals, food and beverages, and apparel.

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Which Regions Are Becoming Hubs for Monoethylene Glycol Market Innovation?
Asia-Pacific was the largest region in the mono ethylene glycol market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the monoethylene glycol market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Monoethylene Glycol Market?
2. What is the CAGR expected in the Monoethylene Glycol Market?
3. What Are the Key Innovations Transforming the Monoethylene Glycol Industry?
4. Which Region Is Leading the Monoethylene Glycol Market?

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