Dimethyl Sulfoxide Market: Overview-
- Dimethyl sulfoxide, also called DMSO, is a dipolar aprotic solvent. It has high flash point as well as high boiling point. In addition, it possesses excellent miscibility with polar and non-polar solvents. It is commonly produced by using black liquor, a byproduct of paper mills.
- It is commonly employed in applications such as pharmaceuticals, agrochemicals, and fine chemicals
- Based on grade, the global dimethyl sulfoxide market can be segmented into reagent grade, technical grade, spectrophotometric, and anhydrous. Reagent-grade dimethyl sulfoxide is primarily used as a solvent for non-spectrophotometric methods of analysis. Also, it can be used as a solvent for gas chromatography. On the other hand, technical-grade dimethyl sulfoxide is often used as a solvent in cleaning and paint stripping.
- In terms of application, the global dimethyl sulfoxide market can be divided into active pharmaceutical ingredients & intermediates, paint stripping, polymer processing, agrichemicals, and others. As a cleaning solution, DMSO is often used for removal of organic materials from production lines and manufacturing equipment. Owing to high solubility of DMSO in polymers, it is used in reaction solvents and in polymer processing and cleanup.
- Non-toxic nature of DMSO aids in the formulation of hazardous solvents in paint stripping formulations. Due to its high solvency, it is employed in the manufacture of highly concentrated formulations. DMSO is used as a solvent for a wide range of active ingredients used in herbicides, insecticides, and fungicides such as propiconazole, pinoxaden, pyroxasulfone, mentaconazole, imazethaphyr, imazamethabenz-methyl, trubupirimphos, cyfluthrin, glysophate, and imidacloprid.
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Key Drivers of Global Dimethyl Sulfoxide Market
- Attributes of DMSO such as its amphiphilic nature, high solvency, miscibility, and relatively low toxicity at dilute concentrations make it an ideal solvent in a wide range of applications including active pharmaceutical ingredients and intermediates, paint stripping formulations, polymer processing, and agrochemicals
- High solvency power of DMSO is expected to drive the demand for DMSO in the agrochemical sector. In addition, rising demand for non-toxic solvents is likely to boost the global DMSO market during the forecast period. Furthermore, increasing need for improving crop productivity coupled with growing support by governments by offering subsidies and rebates to agriculturists is expected to drive the demand for fertilizers and herbicides worldwide. This, in turn, is projected to boost the demand for DMSO in the near future.
Availability of Substitutes to Hamper Global Dimethyl Sulfoxide Market
- Cyrene is a potential substitute for DMSO and it can be used as a solvent for antibacterial drugs. Cyrene is often known by the name of dihydrolevoglucosenone. The product is made from waste biomass. Furthermore, Cyrene has the same solvation characteristics as those of DMSO and it has low toxicity. However, a major drawback of Cyrene is that it does not offer protection from mediated termination of bacteria.
Europe and North America to Dominate Global Dimethyl Sulfoxide Market
- Based on region, the global market for dimethyl sulfoxide can be segmented into five regions North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe and North America are expected to dominate the global market during the forecast period. Both these regions have high manufacturing capabilities as well as capital required for manufacture of dimethyl sulfoxide. Furthermore, producers of dimethyl sulfoxide in Europe and North America are extensively engaged in evaluating the usage of dimethyl sulfoxide in other applications such as electronics.
- Growth of the agriculture sector in developing nations such as China and India is expected to drive the demand for agrochemicals in the near future. This, in turn, is projected to drive the demand for DMSO for use in the production of agrochemicals in these countries, due to its properties such as high solvency, miscibility, and low toxicity.
- The dimethyl sulfoxide market in Latin America as well as Middle East & Africa is concentrated, with only a few number of producers operating in these regions
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Key Players Operating in Global Dimethyl Sulfoxide Market
The global dimethyl sulfoxide market is highly concentrated, with a few manufacturers operating in the market. These producers are likely to account for a major share of the global market. Some of the manufacturers operating in the global dimethyl sulfoxide market are:
- Arkema Group
- Gaylord Chemical Corporation
- Toray Fine Chemicals Co. Ltd.
- Hubei Xingfa Chemicals Group
Global Dimethyl Sulfoxide Market: Research Scope
Global Dimethyl Sulfoxide Market, by Grade
Global Dimethyl Sulfoxide Market, by Application
- Active Pharmaceutical Ingredients & Intermediates
- Paint Stripping
- Polymer Processing
Global Dimethyl Sulfoxide Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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