The growth of pharmaceutical industry fueled by increasing population, GDP per capita, and health expenditures will propel the demand of dimethyl sulfoxide in this region.
Chicago, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The Dimethyl Sulfoxide Market is projected to grow from USD 226 million in 2022 to USD 360 million by 2030, at a CAGR of 6.1% from 2022 to 2030, as per the recent study by MarketsandMarkets™. Dimethyl sulfoxide (DMSO) comes with ecologically friendly manufacturing process and minimal toxicity. The capacity of dimethyl sulfoxide to penetrate membranes is well recognized. As a result, it has a variety of uses in agricultural and pharmaceutical industries. Sodium Monofluorophosphate
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List of Key Players in Dimethyl Sulfoxide Market:
Toray Fine Chemicals Co. Ltd.
Parchem Fine & Specialty Chemicals
Yangmei Fengxi Fertilizer Industry (Group) Co. Ltd
Zhuzhou Hansen Chemicals Co., Ltd.
Henan GP Chemicals Co., Ltd.
Drivers, Restraints, Opportunities and Challenges in Dimethyl Sulfoxide Market:
Driver: Therapeutic properties of dimethyl sulfoxide in pharmaceuticals to fuel demand
Opportunity: Use of dimethyl sulfoxide in steroids
Restrain: Stringent regulations related to the handling of DMSO
Challenge: Fluctuation in raw material prices
Key Findings of the Study:
The pharmaceutical grade is expected to account for the major market share of Dimethyl Sulfoxide market.
The pharmaceutical application is expected to account for the largest share of Dimethyl Sulfoxide demand.
Based on region, the Asia Pacific and North America regions are expected to account for the major market share of Dimethyl Sulfoxide.
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The pharmaceutical grade is expected to account for the major market share of Dimethyl Sulfoxide market.
Based on grade, the pharmaceutical segment is projected to have largest market share. The wide range of medicinal benefits possessed by pharmaceutical grade of dimethyl sulfoxide (DMSO) are expanding its use in drugs. This is expected to increase the demand for DMSO in the near future and increase the production of dimethyl sulfoxide for therapeutic uses.
The pharmaceutical application is expected to account for the largest share of Dimethyl Sulfoxide demand.
Based on application, the pharmaceutical segment is projected to have largest market share. DMSO has anti-inflammatory qualities and is frequently used in medicines. As pharmaceutical and agrochemical industries build stable revenue streams following the peak of the COVID-19 pandemic due to ongoing demand for products, manufacturers are trying to expand their output capacities. Hence, such factors increase the demand of dimethyl sulfoxide in pharmaceutical application.
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Based on region, the Asia Pacific and North America regions are expected to account for the major market share of Dimethyl Sulfoxide.
The Asia Pacific and North America dimethyl sulfoxide market is expected to have major market share during the forecast period. This is due to the growing pharmaceutical and agrochemical industries in both the regions. The growth of the market in Middle East & Africa and South America can be attributed to the diversification of the agrochemical industry in these regions.
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