As per the research reports by MRFR, the global dry ice market is likely to cross a market size of over USD 270 million by the end of 2027 while recording a healthy CAGR of over 7% during the review timeframe.
Dry ice is a type of carbon dioxide (CO2) that converts to gas rather than liquid after sublimation. It is a slightly acidic, non-flammable, and odorless material produced by compressing and cooling CO2 gaseous in the presence of high pressure, and it generates liquid CO2 in the primary stage. The global market for dry ice has witnessed massive growth in recent times. The market's growth is primarily being driven by the increasing demand for dry ice over water-based ice. Furthermore, the growing demand for dry ice in machine blast cleaning, food, entertainment, and pharmaceuticals industries for numerous applications is also likely to enhance the market performance over coming years. However, the market growth is likely to be restricted by the presence of other alternatives and the storage problems associated with dry ice.
Segment Analysis
The global market for dry ice is fragmented into several segments based on application, type, and region.
By type, the global dry ice market is split into dry ice column, dry ice slice, dry ice slab, dry ice powder, dry ice block, dry ice pellet, and others.
Based on application, the dry ice market is bifurcated into industrial cleaning, food manufacturing, transport & distribution, research, entertainment industry, and others.
Regional Analysis
The global market for dry ice is studied across five major regions, including Asia-pacific, Latin America, Europe, North America, and the Middle East & Africa.
The Asia-Pacific regional market for dry ice is likely to witness the fastest growth over the review timeframe. The regional market's growth is being driven by the growing demand for dry ice in food preservation.
The North American regional market for dry ice is anticipated to record substantial growth over the assessment period. The regional market's growth is being driven by the growing demand in the entertainment industry.
The dry ice market for the European region is projected to exhibit significant growth over the assessment timeframe due to the growing demand for dry ice in the medical sector.
Competitive Analysis
The global market for dry ice has an intensely competitive landscape with a wide number of players spread worldwide. The players in the global market are adopting several new strategies to strengthen their market footprint. The list of leading players in the global dry ice market report includes Pacific/Reliant Dry Ice (US), Dry Ice Corp. (US), Air Liquide (France), Polar Ice Ltd. (Ireland), Chuan Chon Enterprise (Taiwan), Single India Limited (India), Tripti Dry Ice Co (India), Ice (US), CryoCarb (US), Linde plc (US), Continental Carbonic Products, Inc. (US), Dry Ice UK Ltd (UK), and several others.
Recent Developments
- October 2021- ASCO CARBON DIOXIDE has announced the launch of ASCO electric Active Dry Ice Saw – AAS as a part of an expansion move for its dry ice product portfolio. Being the first mass-produced active dry ice saw, which is particularly developed for cutting dry ice slices, the launch signs a major milestone for the dry ice market. The saw can produce over 600 slices per hour and cut the dry ice blocks of thickness over 70mm into two or three pieces, all of which enable dry ice manufacturers to boost the production capacity substantially.
Furthermore, depending on customer needs, the active dry ice saw can be turned into the optional double saw blades in only a few minutes. This means that non-standard, small block sizes can also be manufactured.
Managing Director of ASCO CARBON DIOXIDE, Marco Pellegrino, while commenting on the latest innovation said that ASCO marks its goals to be one of the market leaders in dry ice manufacturing with the launch of the world's first active dry ice saw.
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