Regional Analysis of Dimethyl Sulfoxide Market New Research Report And Forecast

Dimethyl Sulfoxide Market Outlook 2031

The global dimethyl sulfoxide market was valued at US$ 150.9 Mn in 2021

It is estimated to grow at a CAGR of 5.5% from 2022 to 2031

The global dimethyl sulfoxide market is expected to reach US$ 258.3 Mn by the end of 2031

Overview of Dimethyl Sulfoxide Market

DMSO is a colorless, polar aprotic solvent that is miscible in numerous solvents as well as water. It is an organosulfur compound that can dissolve polar and nonpolar compounds. The dissolving ability of dimethyl sulfoxide has led to its extensive usage for photoresist cleaning in the electronics industry.

DMSO is a solvent with a wide range of pharmaceutical properties. Hence, it is an important constituent in various pharmaceutical and agrochemical products. Several regulations regarding the usage of DMSO have been relaxed over the last few years. Therefore, the global dimethyl sulfoxide market is anticipated to grow at a rapid pace during the forecast period.

Download Sample Copy of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=77228

The safety parameter of dimethyl sulfoxide has been frequently questioned. Numerous tests have been conducted over the last few years to clarify doubts. Several countries have relaxed regulations for the usage of dimethyl sulfoxide. Hence, the market is projected to clock a decent growth rate of 5.5% during the forecast period. Rise in demand for dimethyl sulfoxide is prompting manufacturers, such as Hubei Xingfa Chemicals Co. Ltd., to bolster their production capabilities.

Therapeutic Properties of DMSO Beneficial in Pharmaceuticals to Propel Demand

The pharmaceutical market has witnessed significant growth during the COVID-19 pandemic. Awareness about health and safety has increased, which has fueled the demand for health care products. Various countries have approved the usage of DMSO in pharmaceuticals. DMSO possesses several therapeutic properties. Currently, it is one of the key solvents used in the pharmaceutical industry.

DMSO has myriad applications in pharmaceuticals due to its membrane penetration properties. It is often used as a carrier for drugs. It aids the penetration of drugs into the human skin and enhances the effect of the medication. DMSO can carry the medication that cannot pass cell membranes on its own; hence, it is often used as an ingredient in several anti-bacterial medications. DMSO is also a vital part of antifungal medication formulas used in eye care. It is also used in a few prescription-based skincare products. Several uses of dimethyl sulfoxide are translating into revenue opportunities for manufacturers.

DMSO has strong anti-inflammatory properties and controls inflammation by acting as an antioxidant. It prevents the oxidation of free radicals such as oxygen compounds from biochemical reactions and slows down or halts the process of swelling and inflammation. It is also used in steroids owing to its membrane penetration and anti-inflammatory properties. DMSO has been used as a cryoprotective agent in the preservation of bone marrow and stem cells. This is one of the oldest usages of DMSO. It also possesses antibacterial and analgesic properties that are useful in various pharmaceutical products. Wide spectrum of therapeutic properties possessed by DMSO is increasing its usage in pharmaceuticals. This is estimated to propel the demand for DMSO in the near future, thereby boosting the manufacture of dimethyl sulfoxide for therapeutic applications.

Request for Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=77228

Dissolving Ability of DMSO Driving its Application in Electronics Industry

The electronics industry has been growing at a rapid pace over the last few years. Demand for printed circuit boards (PCBs) and other electronics components is rising consistently, as the usage of electronic products is increasing. Various polymers and solvents are employed in the manufacture of microelectronics. DMSO is known as an excellent solvent for commonly used polymers. It also improves the solvency of other solvents used in various industries.

DMSO is used for stripping novolac resist materials that are employed in TFT-LCD displays and PCBs. It is also used in stripping formulations in the manufacture of semiconductors. It removes polyamide films in TFT-LCD color filters and has also been used in the manufacture of lithium-ion batteries.

In 2013, China-based researchers developed a simple and environment-friendly method for waste management of PCBs. PCBs comprise 30% metals and 70% polymers. DMSO is used to dissolve polymers and extract metals from them. The DMSO solution can be recycled and used with very little loss. This is a key benefit of this process. PCBs are essential components of almost every electronic device. DMSO can be used in production and recycling of these electronic components. This is projected to fuel its usage in electronic applications. Manufacturers are diversifying their products for stakeholders in plant cleaning and polymer processing sectors.

Pharmaceutical Grade Dimethyl Sulfoxide Gaining Prominence in Health Care Applications

In terms of grade, the global dimethyl sulfoxide market has been split into electronics, pharmaceuticals, and industrial. The pharmaceuticals segment held significant share of 48.4% of the global market in 2021. The segment is estimated to advance at a CAGR of 5.4% during the forecast period. This can be attributed to the various therapeutic properties of DMSO such as membrane penetration and anti-inflammation.

DMSO is used in various skincare medications. Manufacturers are increasing their R&D activities to produce liquid dimethyl sulfoxide, which is extensively used as a chemical solvent in order to reduce leakage during the chemotherapy treatment.

Pharmaceutical and Electronic Industries to Account for Majority of Demand for DMSO

Key application industries for DMSO are pharmaceutical, agrochemical, electronics, and polymer processing. Pharmaceutical was a prominent application segment that held 47% share of the dimethyl sulfoxide market in 2021.

Rise in demand for various pharmaceutical medications is a key factor driving the pharmaceutical application segment. Electronics industry is another key application of DMSO. DMSO is used in the manufacture of electronic components. It is also a part of photoresist strippers due to its ability to dissolve polar and nonpolar compounds. This is encouraging market stakeholders to tap into lucrative opportunities available in the dimethyl sulfoxide market.

Regional Outlook of Global Dimethyl Sulfoxide Market

In terms of volume, Asia Pacific held prominent share of more than 55% of the global dimethyl sulfoxide market in 2021. This was primarily ascribed to the high demand for DMSO in pharmaceutical and electronics industries in the region. China accounts for almost 50% share of the dimethyl sulfoxide market in Asia Pacific.

North America accounted for 22.5% share of the global market in 2021. Europe held 14.2% share in 2021. Demand for DMSO is high in pharmaceutical and agrochemical industries in both these regions.

Middle East & Africa and Latin America cumulatively constituted about 8% share of the global market in 2021, largely due to the diversification of the agrochemical industry in these regions.

Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=77228

Analysis of Key Players in Dimethyl Sulfoxide Market

The global dimethyl sulfoxide market is consolidated with a small number of players controlling majority of the share. Leading companies are investing significantly in diversification of their production capabilities, primarily due to the increasing demand for DMSO in various industries. Arkema Group, Gaylord Chemical Corporation, Toray Fine Chemicals Co. Ltd., Hubei Xingfa Chemicals Group, Yangmei Fengxi Fertilizer Industry (Group) Co., Ltd, Zhuzhou Hansen Chemicals Co., Ltd., Yankuang Lunan Chemicals, Otto Chemie Pvt. Ltd, Honeywell International Inc., Sigma-Aldrich Co. LLC., Glentham Life Sciences, FENGCHEN GROUP CO., LTD, and Henan GP Chemicals Co., Ltd. are some of the key players operating in the market.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

 

Contact

Nikhil Sawlani

Transparency Market Research Inc.

CORPORATE HEADQUARTER DOWNTOWN,

1000 N. West Street,

Suite 1200, Wilmington, Delaware 19801 USA

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Website: https://www.transparencymarketresearch.com

Blog: https://tmrblog.com

Email: sales@transparencymarketresearch.com