Non-equilibrium behavior of liquid mixture of polyethylene glycol (PEG) and polypropylene glycol (PPG) is studied. During the phase variation of PEG/PPG mixture, time-resolved Fourier transform infrared (FTIR) spectra were collected by attenuated total reflection (ATR) technique to selectively capture the development and subsequent variation of PEG-rich phase, appearing within a layer of the sample adjacent to the measuring surface of the ATR diamond prism. The FTIR spectra were then subjected to a two-dimensional (2D) correlation method to elucidate subtle but important changes in the absorbance of spectral bands. 2D correlation spectra revealed fine details of the non-equilibrium system. During the phase variation, dissociation between PEG and PPG generates free PEG molecules first. The emergence of the free PEG molecules triggers the subsequent self-assembly via the development of intermolecular H-bonding between PEG molecules, which eventually generates bigger PEG aggregates.