Valuation of Dimethyl Sulfoxide Market estimated at US4 258.3 Mn by 2031, TMR Report

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Jul 27, 2022, 07:30 ET

Array of superior therapeutic properties including anti-inflammation, antioxidant, antibacterial, and analgesic substantiates increasing use of dimethyl sulfoxide in pharmaceuticals
Environmentally sustainable production process and low toxicity validate preference for dimethyl sulfoxide over substitutes by numerous end users

WILMINGTON, Del., July 27, 2022 /PRNewswire/ -- Analysts at TMR estimate the dimethyl sulfoxide market to peg a CAGR of 5.5% for the forecast period between 2022 and 2031. Dimethyl sulfoxide (DMSO) features membrane penetration properties to find extensive applications in the pharmaceuticals industry. DMSO is often used as a carrier for drugs as it aids in the penetration of drugs into the human skin and fortifies the effect of medication. This makes DMSO key ingredient in several anti-bacterial medications, antifungal medication formulas, and some prescription skincare products.

Dimethyl sulfoxide is characteristic of several therapeutic properties to find substantial use as a solvent in the pharmaceutical industry. Rise in demand for pharmaceutical products is favorable for the scope of dimethyl sulfoxide market.

Electronics industry is another key end user of dimethyl sulfoxide. DMSO is used in the manufacture of electronics components and is a component of photoresist strippers due to its ability to dissolve polar and nonpolar compounds.

Asia Pacific held a prominent greater than 55% volume share of dimethyl sulfoxide market in 2021. High demand for DMSO from the electronics and pharmaceutical industries substantiates Asia Pacific to stand as fastest growing market for DMSO.

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Dimethyl Sulfoxide Market – Key Findings of the Report

Excellent solvency of DMSO for commonly used polymers used in the manufacture of microelectronics for the consistent rise in demand for printed circuit boards and other electronic components creates ample opportunities in the DMSO market.
DMSO is long used as a cryoprotective agent to preserve bone marrow and stem cells.
DMSO possesses antibacterial and analgesic properties to find use in pharmaceutical products. DMSO is used in pharmaceutical products due to its robust anti-inflammatory properties and keeps check on inflammation by working as an antioxidant. DMSO is characteristic of preventing oxidation of free radicals and slow down or terminate the process of swelling and inflammation.
Application of DMSO to remove novolac resist materials that are used in TFT-LCD displays and printed circuit boards underscores growth in dimethyl sulfoxide market. It removes DMSO is used in stripping processes in the manufacture of semiconductors.
Key finding of application of DMSO in the waste management of PCBs is an emerging trend in the dimethyl sulfoxide market. DMSO is used to dissolve polymers in printed circuit boards and extract metals from them. Recyclability of DMSO with minimal wastage that favors environment sustainability to expand growth prospects of DMSO market.

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Pharmaceutical grade dimethyl sulfoxide held a significant 48.4% share of the DMSO market in 2021. The pharmaceutical grade segment of dimethyl sulfoxide market is projected to expand at a CAGR of 5.4% during the forecast period.
Pharmaceutical stood as the prominent application segment with 47% share of the dimethyl sulfoxide market in 2021.

Dimethyl Sulfoxide Market – Growth Drivers

Extensive applications in pharmaceutical and agrochemical sectors due to membrane penetration capability fuels the growth of dimethyl sulfoxide market
Superior dissolving property accounting for vast demand for DMSO in the manufacture of microelectronics and as an excellent solvent for common polymers underscores growth

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Dimethyl Sulfoxide Market - Key Players

Some of the key players operating in the dimethyl sulfoxide market are;

Arkema Group
Toray Fine Chemicals Co. Ltd.
Yangmei Fengxi Fertilizer Industry Co. Ltd.
Yankuang Lunan Chemicals
Honeywell International Inc.
Glentham Life Scimences
Henan GP Chemicals Co. Ltd.
Gaylord Chemical Corporation
Hubei Xingfa Chemicals Group
Zhuzhou Hansen Chemicals Co. Ltd.
Otto Chemie Pvt. Ltd.
Sigma-Aldrich Co. LLC
FENGCHEN GROUP CO. LTD

The dimethyl sulfoxide market is segmented as follows;

Dimethyl Sulfoxide Market, by Application

Removers & Cleaners
Polymer Processing
Pharmaceutical
Agrochemical
Others

Dimethyl Sulfoxide Market, by Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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