Dry Ice Market Outlook Analysis and Growth by Forecast 2030
As per the research reports by MRFR, the global dry ice market is likely to cross a market size of over USD 670 million by the end of 2030 while recording a healthy CAGR of over 6.40% 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 Dry Ice Market Insights 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 Dry Ice Market Outlook 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 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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