Monoethylene Glycol Market Outlook:
Monoethylene Glycol Market size was valued at USD 27.22 billion in 2025 and is set to exceed USD 38.03 billion by 2035, expanding at over 3.4% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of monoethylene glycol is estimated at USD 28.05 billion.
Monoethylene glycol (MEG) being derived from non-renewable fuels is finding wide applications in several end use industries such as automotive, packaging, textiles, and more. The dependency of end users on monoethylene glycol is contributing to its growing consumption. Monoethylene glycol’s increasing use in antifreeze and coolants for automobile and industrial applications is poised to drive the overall trade activities in the coming years. The expansion of automotive and heavy machinery manufacturing across the world is set to propel the consumption of monoethylene glycol. The booming electric vehicle trend and increasing integration of automation and robotics are also propelling the consumption of monoethylene glycol.
The 3D printing trend is driving high investments in the industrial machinery manufacturing market. Caterpillar, Inc., Volvo Group, and John Deere are leading the heavy equipment machinery production and sales. This highlights that the expanding commercialization of heavy commercialization is set to uplift the sales of monoethylene glycol during the foreseeable period. The International Council on Clean Transportation (ICCT), stated that in the early phase of 2024, the EV sales surpassed 7 million units, out of which nearly 17.0% were new light-duty vehicles. The market is dominated by China, Europe, the U.S., and India, collectively accounting for 86.0% of EV sales and around 68% of LDV sales. The swift EV sales are also creating a profitable environment for monoethylene glycol producers.
