Dry Ice Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics and Dynamics

Dry Ice Market Definition:

Dry ice refers to a kind of ice that is utilized as a refrigerant to keep things cold in medical and food businesses and produce smoke clouds in entertainment industry. It is a type of strong carbon dioxide that leaves no residue. It is called dry ice because of the sublimation, where upon heating it directly changes into a gas rather than melting into liquid. 

 

 

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Further, the Dry Ice market is segmented by Product, Application, and geography. On the basis of Product, the Dry Ice market is segmented under Pellets, Blocks, Slice, Slab, Column, Powder and Others. Based on the Application, the Dry Ice market is segmented under Storage and Transportation, Food and beverages, Healthcare, Industrial Cleaning and Entertainment Industry. By geography, the market covers the following Regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Million).

 

 

Dry Ice Market Dynamics:         

Dry Ice is the frozen type of carbon dioxide (CO2) normally captured during the industrial processes. It is especially used for refrigeration due to its temperature of - 79°C. Hence, it assists with preserving numerous food products. It is generally deployed as it rapidly freezes the things, and is usually handled with insulated gloves. Dry Ice changes its structure directly from solid to gas - sublimation-in ordinary environmental circumstances without going through a liquid stage. Consequently, it is known as "Dry Ice." Dry Ice is a lot colder than standard ice.

 

Dry Ice helps increment the timeframe of realistic usability of transitory and drugs items by satisfying explicit temperature prerequisites for their conservation during storage or transport. Dry ice is much used instead of water-based ice since it has a lower temperature when compared with water-based ice and doesn't melt into a liquid structure, making it water free.

 

Moreover, unlike few different refrigerants, dry ice is non-combustible and non-toxic. Dry ice, as a cost effective item, and is supposed to have increased demand in variety of applications soon. As the quantity of fires increments, so does the interest for the dry ice to re-establish and renovate industrial and residential structures. These factors along with dry ice's non-inflammable and non-harmful properties, are supposed to drive market of dry ice. The improvement of the dry ice machines industry all over the world will increase the demand for dry ice. Manufacturers in enormous companies and firms have made major contributions to the dry ice market's growth. The rising acknowledgment of blast cleaning in a few industrial applications is a huge determinant adding to the development of the market.

 

One more element is the utilization of dry ice for industrial cleaning by means of dry ice blast cleaning. It is a more secure option as compared to the utilization of cleaning solvents and different synthetic compounds. Compared to other solvents, dry ice is safer and less harmful than destructive and aggressive solvents. This type of cleaning does not utilize water, therefore wastewater treatment is not necessary, as the dry ice pellets evaporate upon contact, leaving only the debris, which then is removed by a blasting process.

 

The blaster cleaning method does not require recovery of water, cleaning up of solvents, or the containment of waste. All these properties of dry ice are the major factors contributing to the growth of the India dry ice market. Dry Ice has a rising number of utilizations, especially, in the fields of Medical and Biotechnology, Automotive Industry, Industrial Manufacturing and Food and Beverage area. It is broadly utilized in food transportation as well with respect to delivery of organs, and blood or drug store things in the clinical field.

 

Dry Ice Rice is the latest and unarguably fundamental advancement in the product. Increasing interest for Dry Ice as a refrigerant component in the food and transportation industry drives market development, as Dry Ice is generally utilized as a cooling substance for the shipment of frozen food items. The non-toxic and non-flammable properties of Dry Ice make it appropriate for various applications in various fields. Rising interest for frozen food, increasing requirement for storage of transitory food items and extending cold capacity operations positively impact the Dry Ice market development.

 

Critical development in the transportation and shipment business will help product delivery, providing immense revenue growth to the dry ice market. With rising long transportation trips, supermarkets and the medical care industry would set out lucrative growth opportunities for the dry ice market during the forecast period.

 

Dry Ice Market Segment Analysis:

By Application, the Dry Ice market has been segmented into Storage and Transportation, Food and Beverages, Healthcare, Industrial Cleaning and Entertainment Industry. Under this segment storage and transportation would dominate the market with highest market share during the forecast period. Time and temperature sensitive shipments require exceptional consideration and information to ensure the controlled and positive exchange of such things with dry ice logistics services.

 

Dry Ice is utilized mainly for food storage and transport, perishable products, clinical supplies, etc. Storage and supply chain operations elements participate in clinical trials for pharmaceutical companies, hospitals, and research institutes. They give frozen and chilled delivery service for the food, drug, medical devices and carbon fibre items.

 

Dry ice is also very essential in healthcare industry. Due to the rise organ diseases the rate of organ transplant surgeries has also increased. Organs being vulnerable need to be kept in specific and controlled temperature. Thus dry ice assists in storing and preserving the organs for a longer period. Additionally, the dry ice is also very frequently used in the blood banks to store and preserve the blood under controlled temperature and sterile conditions.

 

By Product, dry ice market is segmented into, Pellets, Blocks, Slice, Slab, Column, Powder, and others. The pellets segment had the largest market share of the dry ice market. The pellet type of Dry Ice is high in thickness. Tube shaped Dry Ice pellets intended for the application in the food and beverage industry are valuable in the handling of food item because of its food-grade quality and safety. These little pellets are just the size of grains of rice.

 

This type of Dry Ice is likewise ideally suited for more limited size requirements or stockpiling or conveyance purposes. For instance, colleges frequently utilize Dry Ice pellets in tests or for limited storage prerequisites. Dry ice pellets are likewise used to make fake smoke and clouds in entertainment industry. Moreover, Dry Ice as pellets is generally utilized in the, impact cleaning, freezing, and chilling and transportation of food and organic examples like antibodies and blood.

 

 

Dry Ice Market Regional Insights:

Based on regional analysis, the Dry Ice market is segmented into South America, North America, Europe, Asia-Pacific and Middle East and Africa. The North America region is would notice the highest development in the Dry Ice market during the forecast period. The development is driven by the rising interest for Dry Ice in food conservation application. Plus, the developing entertainment industry of the US and Canada has induced interest for Dry Ice.

 

Europe will grow sustainably owing to the rising interest for Dry Ice in the healthcare segment. Asia-Pacific has also seen the rise in demand for Dry Ice reason being developing countries like India, China, Japan are using dry ice for various purpose including entertainment, industrial cleaning, food storage and transportation.

 

Dry Ice Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Dry Ice Market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Dry Ice Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Dry Ice Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Dry Ice Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Dry Ice market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Global Dry Ice market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Global Dry Ice market. The report also analyses if the Global Dry Ice Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Dry Ice market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Dry Ice market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Dry Ice Market is aided by legal factors.

 

Dry Ice Market Scope:

Global Dry Ice Market
Market Size in 2023	USD 175.37 Mn.
Market Size in 2030	USD 296.69 Mn.
CAGR (2024-2030)	7.8 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Application Storage and TransportationSegment 1.2 Food and BeveragesSegment 1.4 HealthcareSegment 1.6 Industrial cleaning Entertainment Industry
	by Product Pellet 2.1 Blocks 2.2 Slice 2.3 Slab 2.4 Column 2.5 Powder 2.6 Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Dry Ice Market Key Players: 

• Gulf Cryo (Kuwait)
• Air Liquide (France)
• Dry Ice UK Ltd (UK)
• Dry Ice Corp. (USA)
• Tripti Dry Ice Co (India)
• Pacific/Reliant Dry Ice (USA)
• Continental Carbonic Products, Inc. (USA)
• Linde plc (USA)
• Chuan Chon Enterprise (Taiwan)
• CryoCarb (USA)
• Polar Ice Ltd. (Ireland)
• Messer Group (Germany)
• Yara International ASA (Norway)
• Continental Carbonic Products Inc. (USA)
• Sicgil India (India)
• Praxair Technology Inc. (USA)
• Chuan Chon Dryice (Taiwan)