"Changing Consumer Preferences: Shaping the Dimethyl Sulfoxide Market Landscape in 2030"

The global dimethyl sulfoxide (DMSO) market is poised for significant growth in the coming years, driven by various sectors such as electrical and electronics, automotive, building & construction, consumer goods, and medical. The increasing demand for polycarbonate in these industries, coupled with the explosive growth of the electronics sector, particularly in smartphones and electric vehicles, is expected to boost the demand for DMSO, a crucial component in producing Li-ion batteries.

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According to the United Nations, by 2022, the number of smartphone users worldwide is projected to reach 6.648 billion, accounting for 83.37% of the global population. As Li-ion batteries power these devices, the dimethyl sulfoxide market is expected to grow in tandem with the Li-ion battery industry. DMSO's non-toxicity, biodegradability, and high solvency have made it an ideal organic chemical for various end-use industries, replacing other chemicals like xylene, benzene, ethyl, and acetone as a solvent.

The building industry's current development is predicted to fuel DMSO's application in paints and coatings, further driving the expansion of the dimethyl sulfoxide market. Moreover, DMSO finds applications in various sectors, including pesticides, solvents, fuel additives, pharmaceuticals, and more, owing to its unique chemical structure and less hazardous nature in its natural state.

Despite the setbacks caused by the COVID-19 pandemic, as regional regulatory authorities start to loosen imposed restrictions, the global dimethyl sulfoxide market is projected to recover. The increasing perception of DMSO as a solvent for chemical processing is expected to favor market growth, along with rising industrialization, demand for electronic grade DMSO, and growth in the electronics and pharmaceutical sectors.

The pharmaceutical industry holds a dominant share in the DMSO market due to the compound's antiinflammatory properties and ability to penetrate membranes, enhancing drug effectiveness and drug delivery through the skin. The rising demand for agrochemicals in the Asia Pacific region, especially in China, is also expected to drive the DMSO market's growth in the region. However, some possible adverse effects of DMSO, such as skin rashes, headaches, and respiratory issues, continue to hamper its market growth. Consumers are urged to be cautious while purchasing over-thecounter DMSO products, as some may not be safe for human consumption.

Leading players in the global dimethyl sulfoxide market include Gaylord Chemical Corporation, Arkema Group, Hubei Xingfa Chemicals Group, Toray Fine Chemicals Co. Ltd., and more.

In July 2022, Hubei Xingfa Chemicals Group is expected to complete the second phase of its annual DMSO production project, further solidifying its position as a market leader in dimethyl sulfoxide.

The global dimethyl sulfoxide market is set to witness robust growth in the forecast period, driven by the increasing demand for polycarbonate, Li-ion batteries, and its versatile applications in various industries.

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