In 2023, the worldwide Dimethyl Sulfoxide (DMSO) market was estimated to be worth USD 515.2 million. It is expected to increase at a 5.4% CAGR from 2023 to 2033. By the end of 2033, the worldwide Dimethyl Sulfoxide (DMSO) market is estimated to be worth USD 871.8 million.
Dimethyl Sulfoxide (DMSO), a dipolar aprotic solvent with high flash and boiling points, has excellent miscibility with polar and nonpolar solvents. DMSO is made from black liquor, a by-product of paper mills. DMSO is utilized in many different applications, including medicines, agrochemicals, and fine chemicals.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | USD 515.2 million |
| Anticipated Forecast Value (2033) | USD 871.8 million |
| Projected Growth Rate (2023 to 2033) | 5.4% CAGR |
With continuing research & development to improve the usage of DMSO in the pharmaceutical sector, global demand is predicted to rise over the projection period. Furthermore, due to its nontoxic and biodegradable features, its application in the agrochemical industry is expected to expand steadily throughout the projection period.
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The global demand for DiMethyl Sulfoxide (DMSO) is projected to increase at a CAGR of 5.4% during the forecast period between 2023 and 2033, reaching a total of USD 871.8 million in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 4.0%.
DiMethyl Sulfoxide (DMSO) is a solvent with several medicinal applications. As a result, it is a key component in many medicinal and agrochemical products. Several laws governing the use of DiMethyl Sulfoxide (DMSO) have been loosened in recent years.
As a result, the worldwide DiMethyl Sulfoxide (DMSO) market is expected to expand rapidly over the projected period. The safety parameters of DiMethyl Sulfoxide (DMSO) have repeatedly been called into doubt.
Several tests have been carried out in recent years to clear up any uncertainties. Several nations have reduced DiMethyl Sulfoxide (DMSO) consumption limits. Demand for DiMethyl Sulfoxide (DMSO) is increasing, pushing firms such as Hubei Xingfa Chemicals Co. Ltd. to increase production capacity.
The Therapeutic Properties of DMSO are Beneficial in Pharmaceuticals, Driving Demand
During the COVID-19 pandemic, the pharmaceutical business expanded significantly. As people's awareness of health and safety has grown, so has the need for health-care items. DiMethyl Sulfoxide (DMSO) has been licensed for use in medicines in a number of nations.
DiMethyl Sulfoxide (DMSO) has several medicinal benefits. It is now one of the most important solvents utilized in the pharmaceutical sector. Due to its membrane penetrating capabilities, DiMethyl Sulfoxide (DMSO) has several uses in medicines.
It is frequently employed as a medication carrier. It helps medications penetrate the human skin and increases the medication's effectiveness. Because DiMethyl Sulfoxide (DMSO) can transport drugs that cannot cross cell membranes on their own, it is frequently utilized as a component in a variety of antibacterial treatments.
DiMethyl Sulfoxide (DMSO) is also an important component of antifungal medicine formulations used in eye care. It is also found in several prescription-only skincare products. Several applications for DiMethyl Sulfoxide (DMSO) are generating cash for producers.
DiMethyl Sulfoxide (DMSO) contains high anti-inflammatory effects and acts as an antioxidant to decrease inflammation. It slows or stops the development of swelling and inflammation by preventing the oxidation of free radicals, such as oxygen molecules produced by biological processes. Because of its membrane penetration and anti-inflammatory effects, it is frequently employed in steroids.
In the preservation of bone marrow and stem cells, DiMethyl Sulfoxide (DMSO) has been used as a cry protective agent. This is one of the oldest applications of DiMethyl Sulfoxide (DMSO).
It also has antibacterial and analgesic qualities that may be used in a variety of medicinal products. DiMethyl Sulfoxide (DMSO) 's broad range of medicinal effects is expanding its use in medicines. This is expected to drive DiMethyl Sulfoxide (DMSO) demand in the near future, raising the production of DiMethyl Sulfoxide (DMSO) for medicinal purposes.
The ability of DMSO to dissolve is driving its use in the Electronics Industry
Over the last few years, the electronics business has expanded at a tremendous rate. As the use of electronic devices grows, so does the need for printed circuit boards (PCBs) and other electronic components. Microelectronics is made with a variety of polymers and solvents. DiMethyl Sulfoxide (DMSO) is a well-known solvent for routinely used polymers. It also increases the solubility of other solvents used in a variety of industries.
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DiMethyl Sulfoxide (DMSO) 's Side Effects to Hamper Market Growth
DiMethyl Sulfoxide (DMSO) may have certain unintended consequences in addition to its beneficial effects. Although not all of these adverse effects are likely, if they occur, they may necessitate medical treatment.
Some individuals may experience discomfort when this medication is administered to the bladder. However, the pain normally decreases with each administration of the medication. Hence, these side effects are likely to hinder market growth during the forecast period.
Significant Demand for DiMethyl Sulfoxide (DMSO) Creating Opportunities for Manufacturers
In 2023, North America will have 27.2% of the worldwide market. This is because of the significant demand for Dimethyl Sulfoxide (DMSO) in the region with few applications in specialized end-use sectors.
Furthermore, it is favored by many end users due to its ecologically friendly production technique and low toxicity. Dimethyl Sulfoxide (DMSO) is well-known for its propensity to penetrate membranes.
As a result, it is employed in a variety of medicinal and agrochemical applications in the region. Dimethyl Sulfoxide (DMSO) is also renowned for its anti-inflammatory qualities and is commonly utilized in drugs that aid in body absorption.
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Strong Demand for DMSO in the Pharmaceutical and Electronics Sectors fuelling rapid adoption
Asia Pacific held a commanding market share of the worldwide dimethyl Sulfoxide market in 2021. This was largely attributed to the region's strong demand for DMSO in the pharmaceutical and electronics sectors.
China controls 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 2023 to 2033.
Pharmaceutical and electronic industries will account for the majority of DiMethyl Sulfoxide (DMSO) demand
Pharmaceutical, agrochemical, electronics, and polymer manufacturing are important dimethyl Sulfoxide (DMSO) application sectors. Pharmaceutical was a significant application area, accounting for a considerable share of the dimethyl Sulfoxide (DMSO) market in 2021.
A crucial reason driving the pharmaceutical application market is the increase in demand for various pharmaceutical drugs. Another important application of DMSO is in the electronics sector. DMSO is a chemical that is utilized in the production of electronic components.
Because of its propensity to dissolve polar and nonpolar chemicals, it is also used in photoresist strippers. This encourages market participants to capitalise on attractive prospects in the dimethyl Sulfoxide industry.
Key startup players in the DiMethyl Sulfoxide (DMSO) market:
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.
Recent Developments in the DiMethyl Sulfoxide (DMSO) Market:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 515.2 million |
| Market Value in 2033 | USD 871.8 million |
| Growth Rate | CAGR of 5.4% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Raw Materials, Application, Region |
| Regions Covered |
North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled |
Arkema Group; Gaylord Chemical Corporation; Toray Fine Chemicals Co. Ltd.; Hubei Xingfa Chemicals Group; Sigma-Aldrich Co. LLC.; Parchem Fine & Specialty Chemicals; Zhuzhou Hansen; Otto Chemie Pvt. Ltd.; FENGCHEN GROUP CO. LTD; Henan GP Chemicals Co. Ltd. |
| Customization | Available Upon Request |
Pharmaceuticals sector holds high revenue potential.
The United States, China, and India dominate the global market.
The market is forecast to register a CAGR of 5.4% through 2033.
During 2018 to 2022, the market registered a CAGR of 4%.
Expanding Pharmaceutical business due to medicinal benefits of DMSO is the key trend.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Raw Materials 5.1. Black Liquor 5.2. Sulphur 5.3. Raw Cotton 5.4. Lignin 6. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Pharmaceuticals 6.2. Agrochemicals 6.3. Electronics 6.4. Fine Chemicals 6.5. Coatings 6.6. Cleaning Applications 7. Global Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Arkema Group 17.2. Gaylord Chemical Corporation 17.3. Toray Fine Chemicals Co. Ltd. 17.4. Hubei Xingfa Chemicals Group 17.5. Sigma-Aldrich Co. 17.6. Parchem Fine & Specialty Chemicals 17.7. Zhuzhou Hansen 17.8. Otto Chemie Pvt. Ltd 17.9. FENGCHEN GROUP CO. LTD 17.10. Henan GP Chemicals Co. Ltd. 18. Assumptions & Acronyms Used 19. Research Methodology
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DiMethyl Sulfoxide (DMSO) Market
