North America Dry Ice Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Product Type, Application, and Region

North America Dry Ice Market Definition:

The solid type of carbon dioxide is known as dry ice. Strong carbon dioxide is recognized by a direct stage change from strong to vaporous state without going through stage change into the liquid with increasing temperature. The North America Dry Ice mechanism includes compressing the vaporous type of carbon dioxide, followed by cooling to the liquefied type of CO2. The liquefied structure goes through pressurized expansion to acquire dry ice, sometimes otherwise called strong carbon dioxide. North America Dry Ice is as often as possible utilized than water-based ice because of its low temperature (- 78°C).

Further, the North America Dry Ice market is segmented by Product Type, application, and geography. On the basis of Product Type, the North America Dry Ice market is segmented under pellets, blocks, and slices. Based on the application, the market is segmented under the channels of food and beverage, Healthcare, Entertainment and Storage and transportation. By geography, the market covers the major countries in North America i.e., US, Canada and Mexico. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Million).

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North America Dry Ice COVID 19 Insights:

The United States is the world's biggest economy. The country's GDP had decreased at an annual rate of 5% in the first quarter and 9.5% in the second quarter of 2021 due to the coronavirus pandemic. But it grew around 7.4 percent in the third quarter due to ease in the lockdown. The United States is one of the most prominent regions in the global healthcare industry which experienced a growth of 4.6% (USD 3.6 trillion) in 2019 in the country's medical related expenditure due to the pandemic. Manufacturing of various goods and other products around the world paused due to a shortage of raw materials, labours, and other factors. US regulators are allowing Pfizer's COVID-19 vaccine to be transported and stored at less temperature, which would ease the distribution and transport of one of the country's two authorized emergency covid-19 vaccines. Moreover, the substantial decrease and instability in demand of products by consumers have resulted in decrease in number of orders, increased order cancellations, lower revenues, increased inventories, the lowered value of inventories and slim gross margins.

North America Dry Ice Market Dynamics:

United States of America and Canada are expected to be the dominant region with several market players holding major share of the market, majorly due to the risen demand for dry ice in the healthcare industry as it is used by hospitals and laboratories in storage and transportation in the need to ship temperature-sensitive products. Dry ice can also be used to clean medical and industrial machineries by dry ice blasting method. Moreover, it’s significant usage in Food and Beverage market for preserving frozen foods will further drive the market. The rapidly increase in the demand for frozen foods, as well as the growing use of dry ice as a refrigerant in the food and shipping industries, are expected to significantly drive the dry ice market's growth. Significant growth in the transportation industry will also support product shipping leading to impressive income growth opportunities for the dry ice market.

North America Dry Ice Market Segment Analysis:

Based on Type, the global dry ice market segmented into Pellets, Blocks, Slice and others. In this segmentation, pellets segment will dominate the regional Dry Ice market. Dry Ice in the form of pellets is widely used in the rebuilding old buildings, blast cleaning, freezing, and chilling and transportation of food and biological specimens such as vaccines and blood.

By Application, the global Dry Ice market has been segmented into different sectors like Storage & Transportation, Food & Beverages, Healthcare and Entertainment Industry. Food & beverages and related industries contributed USD 1.109 trillion to the United States GDP in 2021, accounting for a 5.2% share. The demand for frozen food in the United States has increase due to an increase in the working population, longer-shelf-life of Products, and rising demand from various consumers, ranging from restaurants and hotels to fast-food centres, cloud kitchen will further drive the regional dry ice market. Hence, growing applications of dry ice in the food and beverage and healthcare industries are likely to boost the market in the region. The growing entertainment industry in North America has resulted in an increase in demand for dry ice, with the United States and Canada leading on top.

North America 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 Type 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 Europe market, key players in the market, particularly in this region, 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 North America Dry Ice Market to the stakeholders in the industry. The report provides trends that are most dominant in the North America 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 North America 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 North America 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 North America Dry Ice market. The report studies factors such as company size, market share, market growth, revenue, Product volume, and profits of the key players in the North America 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 Type quality is in the North America Dry Ice market. The report also analyses if the North America 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 North America Dry Ice market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Dry Ice market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Dry Ice Market is aided by legal factors.

North America Dry Ice Market Scope:

North America Dry Ice Market KEY PLAYERS: 

• Continental Carbonic Products (USA)
• Sutton-Garten (USA)
• Airgas Dry Ice (USA)
• Linde Canada (Canada)
• Agsco Corp. (USA)
• Infra Mexico (Mexico)
• Iceman (Canada)
• Polar Ice (Bahamas)
• Others