'monopolization' originates from English formation using the verb 'monopolize' (from 'monopoly') plus the suffix '-ation'. 'Monopoly' ultimately derives from Greek 'monopōlion', where 'mono-' meant 'single' and 'polein' meant 'to sell.'

'monopōlion' in Greek passed into Late Latin/Medieval Latin as 'monopolium' and via Old French/Latin entered Middle English as 'monopoly'; the verb 'monopolize' was formed in early Modern English by adding the verb-forming suffix '-ize', and the noun 'monopolization' was later formed with the nominalizing suffix '-ation'.

Initially it referred to a 'single right to sell' or exclusive trading privilege; over time it broadened to mean exclusive control of a market or the process of establishing such control.