The global DiMethyl Sulfoxide (DMSO) market is estimated to showcase a steady growth rate throughout the projection period from 2022 to 2032 with a CAGR of about 5.4%. The market was valued at US$ 495.6 Million in 2022 and is estimated to be worth US$ 838.6 Million in 2032. According to the historical forecast (2016 to 2021), the global Dimethyl Sulfoxide (DMSO) Market sales witnessed significant growth, registering a CAGR of 4.2%.
Dimethyl Sulfoxide (DMSO), is known as a dipolar aprotic solvent containing high flash and boiling points, it also has excellent miscibility with polar and non-polar solvents. Black liquor is used to make DMSO which is a by-product of paper mills. There are several applications of DMSO in various industries including healthcare, agrochemicals, fine chemicals & materials. With continuous research and development in this field, utilization of DMSO in the pharmaceutical sector has seen an impressive hike in the global demand over the assessment period.
Being a solvent with several medicinal applications, DiMethyl Sulfoxide (DMSO) is used as a key component in many medicinal and agrochemical products. In recent years, several government restrictions have been loosened, due to which the worldwide DiMethyl Sulfoxide (DMSO) market is expected to expand rapidly over the projected period.
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Key Takeaways
- Amidst the pandemic, the pharmaceutical business expanded significantly. Owing to people’s widened awareness of health and safety has grown the demand for healthcare items. In several nations, DiMethyl Sulfoxide (DMSO) has been licensed for its use in medicines, as it has several medical benefits. DiMethyl Sulfoxide (DMSO) is now one of the most important solvents utilized in the pharmaceutical sector.
- Owing to its membrane penetrating capabilities, DiMethyl Sulfoxide (DMSO) is excessively used in several medical treatments. It has also been employed as a medication carrier. It aids in the penetration of the medications into the human skin and brings more effective results of the medication. Owing to these factors, DiMethyl Sulfoxide (DMSO) market is expected to surge over the forecast period.
- Because DiMethyl Sulfoxide (DMSO) is able to transport drugs that are unable to cross cell membranes on their own, it is frequently utilized as a component in a variety of anti-bacterial treatments. Backed by such crucial properties, sales in DiMethyl Sulfoxide (DMSO) market are expected to rise exponentially.
- In the formulation of antifungal medicines that are used in eye care, the employment of DiMethyl Sulfoxide (DMSO) is significant. In addition to that, it has also been noticed that DMSO is an ingredient mentioned on various anti-fatigue skincare products as well. Such diverse applications are generating cash for producers of DiMethyl Sulfoxide (DMSO).
- Equipped with high anti-inflammatory effects, DiMethyl Sulfoxide (DMSO) acts as an antioxidant in order to decrease inflammation. It reduces or fully stops the development of swelling and inflammation by preventing the oxidation of free radicals such as oxygen molecules produced by biological processes.
- DiMethyl Sulfoxide (DMSO) has been recently used in steroids due to its membrane penetration and anti-inflammatory effects. In order to preserve bone marrow and stem cells, DiMethyl Sulfoxide (DMSO) has been employed as a cry protective agent. It has been considered one of the oldest applications of DMSO.
Competitive Landscape
The prominent competitors in the worldwide DMSO market are developing new technologies that enable biopharmaceutical businesses to accelerate clinical manufacturing while decreasing process development time and costs
The Major Keyplayers are Arkema Group, Gaylord Chemical Corporation, Toray Fine Chemicals Co. Ltd., Hubei Xingfa Chemicals Group, Sigma-Aldrich Co. LLC., and Parchem Fine & Specialty Chemicals are some of the prominent competitors in the worldwide DMSO market.
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More Insights into the DiMethyl Sulfoxide (DMSO) Market
The North American region is expected to dominate the global DiMethyl Sulfoxide (DMSO) market by accounting for 27.2% of the worldwide market in 2022. Owing to its widespread application and it is favored by many end users due to its ecologically friendly production technique and low toxicity.
Due to its employment in various medicinal and agrochemical applications in the region, the Dimethyl Sulfoxide (DMSO) is predicted to exhibit robust growth over the years. It is also well-acclaimed for its anti-inflammatory qualities and is commonly utilized in drugs that aid in body absorption.
The Asia Pacific is expected to witness positive growth opportunities throughout the assessment period due to its large demand in the pharmaceutical and electronics sectors. Developing economies like China have a hold over half of the Asia Pacific dimethyl Sulfoxide market. Thus, Asia Pacific is expected to procure a 20% market share for DiMethyl Sulfoxide (DMSO) market in the assessment period 2022-2032.
DiMethyl Sulfoxide (DMSO) Market Key Segments
DiMethyl Sulfoxide (DMSO) Market by Raw Materials:
- Black Liquor
- Sulphur
- Raw Cotton
- Lignin
DiMethyl Sulfoxide (DMSO) Market by Application:
- Pharmaceuticals
- Agrochemicals
- Electronics
- Fine Chemicals
- Coatings
- Cleaning Applications
DiMethyl Sulfoxide (DMSO) Market by Region:
- North America DiMethyl Sulfoxide (DMSO)Market
- Latin America DiMethyl Sulfoxide (DMSO)Market
- Europe DiMethyl Sulfoxide (DMSO)Market
- Asia Pacific DiMethyl Sulfoxide (DMSO)Market
- Middle East & Africa DiMethyl Sulfoxide (DMSO)Market
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