The Global Ethylene Glycols Market was valued at USD 32.5 Billion in 2024 and is projected to reach USD 44.8 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period (2024–2030). This robust growth is primarily fueled by the expanding polyester fiber and PET packaging industries, rising demand for antifreeze and coolants in the automotive sector, and the increasing adoption of ethylene glycols in energy-efficient heat transfer applications.

As a cornerstone of the modern chemical industry, ethylene glycols serve as critical building blocks for countless products that define contemporary life. From the polyester in our clothing to the antifreeze in our vehicles, these versatile chemicals are integral to manufacturing and industrial processes worldwide. This blog profiles the Top 10 Companies in the Ethylene Glycols Industry—global chemical giants and regional powerhouses that are driving production, innovation, and sustainable practices across the value chain.

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🔟 1. DOW Chemical

Headquarters: Midland, Michigan, USA
Key Offering: MEG, DEG, TEG, Specialty Glycols

DOW Chemical is a global leader in the production of ethylene oxide and ethylene glycols, operating one of the world’s largest and most integrated manufacturing networks. The company’s glycols are essential raw materials for its downstream businesses in polyurethanes, packaging, and infrastructure. DOW’s scale and technological expertise allow it to serve diverse markets with high-purity products.

Sustainability & Innovation Initiatives:

• Investing in bio-based and recycled carbon feedstock pathways for MEG production

• Advancing carbon capture and utilization technologies at ethylene oxide/glycol plants

• Committed to transforming waste and alternative feedstocks into circular glycol products

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9️⃣ 2. SABIC (Saudi Basic Industries Corporation)

Headquarters: Riyadh, Saudi Arabia
Key Offering: Monoethylene Glycol (MEG), Diethylene Glycol (DEG)

SABIC is a top-tier global petrochemicals company with massive MEG production capacity, leveraging its strategic access to competitively priced feedstock in the Middle East. The company is a key supplier to the Asian polyester market and has been expanding its global footprint through joint ventures and acquisitions to secure market leadership.

Sustainability & Innovation Initiatives:

• Pioneering the world’s first large-scale MEG production from crude oil, bypassing naphtha

• Developing certified renewable and circular MEG products under its TRUCIRCLE™ portfolio

• Targeting net-zero carbon emissions by 2050 for its global operations

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8️⃣ 3. Sinopec (China Petroleum & Chemical Corporation)

Headquarters: Beijing, China
Key Offering: Fiber-grade MEG, Antifreeze-grade MEG, DEG

As China’s largest chemical producer, Sinopec dominates the Asian ethylene glycols market, catering to the world’s biggest polyester and PET resin manufacturing base. The company operates numerous large-scale ethylene glycol plants across China and is continuously expanding its capacity to meet domestic and international demand.

Sustainability & Innovation Initiatives:

• Significant investments in coal-to-ethylene glycol (CTMEG) technology to diversify feedstock sources

• Focusing on energy efficiency and emission reduction across its extensive production facilities

• Leading R&D in catalyst technology to improve MEG yield and process efficiency

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7️⃣ 4. Shell

Headquarters: London, United Kingdom
Key Offering: Ethylene Glycols (MEG, DEG, TEG), Ethylene Oxide

Shell is a major global producer of ethylene glycols, with significant production assets in North America, Europe, and Asia. The company’s strong position in upstream oil and gas provides integrated feedstock advantages. Shell’s glycol products are known for their high quality and are supplied to a broad range of industrial customers.

Sustainability & Innovation Initiatives:

• Developing carbon-neutral MEG offerings using bio-based feedstocks and carbon credits

• Investing in advanced recycling technologies to create circular glycol feedstocks from plastic waste

• Implementing CCUS (Carbon Capture, Utilization, and Storage) at major chemical complexes

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6️⃣ 5. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: MEG, DEG, TEG, Polyethylene Glycols (PEG)

BASF is a leading chemical company with a comprehensive portfolio of glycol products, including a wide range of polyethylene glycols for specialized applications. The company’s Verbund (integrated production) system ensures efficient and competitive production, while its strong R&D focus drives innovation in glycol applications.

Sustainability & Innovation Initiatives:

• Committed to achieving net-zero CO2 emissions by 2050

• Pioneering the use of renewable raw materials and biomass balance approaches for glycols

• Developing new catalyst systems for more sustainable ethylene oxide and glycol production

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5️⃣ 6. Formosa Plastics Corporation

Headquarters: Kaohsiung, Taiwan
Key Offering: Fiber-grade MEG, Industrial-grade MEG, DEG

Formosa Plastics is one of the world’s largest producers of polyvinyl chloride (PVC) and a significant manufacturer of ethylene glycols. The company’s vertical integration, from naphtha cracking to downstream plastics and fibers, creates a strong competitive position in the global market, particularly in Asia.

Sustainability & Innovation Initiatives:

• Investing in plant modernization and energy efficiency improvements

• Expanding recycling capabilities for polyester and PET to create circular feedstock loops

• Implementing comprehensive environmental management systems across all operations

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4️⃣ 7. ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Monoethylene Glycol, Ethylene Oxide derivatives

ExxonMobil’s chemical division is a major global producer of ethylene glycols, leveraging its extensive petrochemical infrastructure and feedstock integration. The company supplies glycols to diverse markets, including polyester fibers, PET packaging, and automotive antifreeze, with a focus on operational excellence and reliability.

Sustainability & Innovation Initiatives:

• Advancing advanced recycling technologies to process plastic waste into virgin-quality feedstocks

• Developing carbon capture and storage solutions for its chemical manufacturing facilities

• Working on efficiency improvements to reduce the carbon footprint of glycol production

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3️⃣ 8. Reliance Industries Limited

Headquarters: Mumbai, India
Key Offering: Monoethylene Glycol, Paraxylene-PTA-MEG integrated chain

Reliance Industries is India’s largest private sector company and a major global player in polyester and glycol production. The company’s world-scale refineries and petrochemical complexes provide strong backward integration, making it a highly competitive producer of MEG for both domestic consumption and export markets.

Sustainability & Innovation Initiatives:

• Ambitious commitment to achieve Net Carbon Zero by 2035

• Massive investments in renewable energy to power its manufacturing operations

• Launching recycled polyester products under the R|Elan™ brand, creating demand for circular MEG

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2️⃣ 9. LOTTE Chemical

Headquarters: Seoul, South Korea
Key Offering: High-purity MEG, DEG, TEG

LOTTE Chemical is a leading petrochemical company in Asia with substantial ethylene glycol production capacity in Korea, Malaysia, and the United States. The company has strategically expanded its global footprint to serve key growth markets and maintains a strong focus on product quality and customer service.

Sustainability & Innovation Initiatives:

• Developing bio-MEG technology as part of its carbon neutrality roadmap

• Investing in plastic waste recycling technologies to produce circular monomers

• Implementing energy transition projects across its global production sites

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1️⃣ 10. Ineos Oxide

Headquarters: Rolle, Switzerland
Key Offering: Ethylene Glycols, Ethylene Oxide, Derivatives

Ineos Oxide is a major European producer of ethylene oxide and glycols, with manufacturing facilities across Europe and in the United States. The company is known for its technical expertise and strong market position in specialty glycol derivatives, serving a wide range of industrial and consumer applications.

Sustainability & Innovation Initiatives:

• Committing to net-zero emissions from its operations by 2050

• Investing in electric cracking furnace technology to decarbonize ethylene production

• Developing next-generation catalysts for improved efficiency in EO/EG production

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🧪 Outlook: The Future of Ethylene Glycols Is Circular and Sustainable

The ethylene glycols market is undergoing a significant transformation, driven by the global push towards sustainability and circular economy principles. While traditional petroleum-based production continues to dominate, the industry is rapidly innovating to develop bio-based alternatives and recycling technologies that will define the future of this essential chemical family.

📈 Key Trends Shaping the Market:

• Accelerating investment in bio-MEG production from sugarcane, corn, and other renewable feedstocks

• Advanced chemical recycling technologies creating circular MEG from polyester waste

• Growing demand for glycols in electric vehicle batteries and renewable energy systems

• Increasing regulatory pressure and consumer demand for sustainable chemical products

The companies profiled above are not only supplying the essential chemicals that power modern industry—they are actively working to decarbonize their operations and develop the sustainable solutions that will enable a circular economy for plastics and chemicals.

Get Full Report Here:
Ethylene Glycols Market – View in Detailed Research Report