In early February 2025, the global Mono Ethylene Glycol (MEG) market exhibited varied price trends, primarily influenced by inventory availability and domestic consumption patterns. While some regions witnessed price stability, others experienced fluctuations due to shifts in production costs and demand dynamics.

In Europe, the MEG market remained steady, with a gradual upward price movement, particularly in Germany. In the early week of February, MEG prices in Germany increased by 0.7%, and this upward trend continued into the following week. The price rise was largely attributed to increasing production costs and improving demand. PET consumption in Germany strengthened as downstream bottle and packaging industries resumed restocking in late January 2025. Additionally, rising temperatures, although still wintery, boosted demand from the bottled water and beverage sectors, further supporting MEG price movements. However, the 2025 EU plastic waste regulations are reshaping the PET market, accelerating a shift toward rPET and consequently reducing virgin PET sales, which may impact MEG demand in the long run.

In the United States, MEG prices remained unchanged, supported by a balanced supply-demand scenario. Following significant disruptions due to cold weather, market operations returned to normal, and production units resumed regular activity. This stabilization led to weaker Ethylene Oxide feedstock prices as inventory levels improved. Despite this, MEG demand in the PET sector remained uncertain. Ample local inventory kept PET-related MEG demand stable, though a slight uptick in PET consumption after the early week of February suggested a potential influence on MEG prices in the near future.

The Asia-Pacific (APAC) MEG market, however, faced a slight downward trend. MEG prices showed a weakening pattern due to declining production costs and limited downstream inquiries. Ample inventory levels and stable production costs ensured sufficient supply, while the market remained in an inventory build-up phase through January and February. Feedstock Ethylene Oxide prices remained steady in the early week of February, with marginal fluctuations. However, by the week ending February 14, Ethylene Oxide prices in China dipped by 1.1%, contributing to weaker MEG price trends.

On the demand side, downstream polyester and PET consumption in APAC remained subdued due to the Lunar New Year holiday, which extended into early February. Market activity was restricted as several polyester manufacturing units remained offline. Some production facilities restarted post-holiday, but the polymerization rate saw only a slight increase, limiting overall demand for MEG. As a result, MEG prices in China declined by 0.8% in the early week of February.