Global Dimethyl Sulfoxide Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Dimethyl Sulfoxide Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global dimethyl sulfoxide market report has been segmented on the basis of product type, application, and region.
Global Dimethyl Sulfoxide Market: Overview
Dimethyl sulfoxide (DMSO) is an organic compound that contains sulfur and has colorless appearance and high melting point. The chemical formula of dimethyl sulfoxide is (CH3)2SO. It is also known as methylsulfinylmethane or methyl sulfoxide. It is a protic solvent that dissolves both polar and nonpolar compounds, thus miscible in wide range of organic solvents. It is produced from dimethyl sulfide and by-product of the Kraft process in presence of oxygen or nitrogen dioxide. DMSO is used in polymerase chain reaction, medicines, electronics, etc.
Global Dimethyl Sulfoxide Market: Dynamics
Increasing demand for dimethyl sulfoxide in pharmaceuticals as a topical analgesic, an antioxidant, and an anti-inflammatory is a major factor expected to drive growth of the target market in the next coming years. In addition, DMSO is used during cryopreservation to protect cells and tissues. Increasing demand for dimethyl sulfoxide as a solvent in chemical reactions owing to its various properties is another factor expected to support revenue growth of the global dimethyl sulfoxide market. Moreover, rapid industrialization, increasing demand for electronic grade DMSO, and growing demand for dimethyl sulfoxide in chemicals, agrochemical, and others are among some of the other factors expected to fuel growth of the dimethyl sulfoxide market in years to come.
However, stringent regulations regarding use of DMSO for veterinary and pharmaceutical purposes is a major factor which may restrain growth of the dimethyl sulfoxide market. In addition, side effects such as skin reactions, headache, nausea, dizziness, vomiting, and others, if DMSO comes in contact with skin owing to easy penetration of impurities into the body is another factor expected to hamper growth of the target market to certain extent.
Increasing research & development in order to remove odor and recycling/treating of effluents is a factor expected to create revenue opportunity for manufacturers operating in the target market.
Global Dimethyl Sulfoxide Market: Segment Analysis
Among the product type segments, the pharmaceutical grade segment is expected to account for significant revenue share in the target market in the next coming years.
Among the application segments, the pharmaceutical segment is projected to register major revenue share in the target market. Increasing demand for various drug and dietary supplement is a factor driving growth of the segment market.
Global Dimethyl Sulfoxide Market: Region Analysis
The dimethyl sulfoxide market in North America is expected to account for major revenue share contribution in the target market, owing to increasing demand for pharmaceutical and electronic grade DMSO. The market in Asia Pacific is projected to grow at significant growth rate in the next 10 years. This is due to increasing industrialization, coupled with growing electronics and pharmaceutical industries in the region. In addition, China is anticipated to register for major revenue share contribution in the target market. The Europe market is projected to grow at a sluggish rate in the global dimethyl sulfoxide market.
Global Dimethyl Sulfoxide Market Segmentation:
Segmentation on the Basis of Product Type:
- Pharmaceutical Grade
- Industrial Grade
- Electronic Grade
Segmentation on the Basis of Application:
- Others (Agrochemicals and Coatings)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Gaylord Chemical Corporation
- Toray Fine Chemicals Co. Ltd.
- Arkema SA
- Merck KGaA
- Hubei Xingfa Chemicals Group
- Shanxi Fengxi International Co., Ltd.
- Zhuzhou Hansen Chemicals Co., Ltd.
- Shandong Rongyue Chemical Co., Ltd.
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