Dry Ice Market is expected to reach US$ 936.90 million by 2030

Increasing Preference for Dry Ice over Water-based Ice Drives Global Dry Ice Market Growth

According to the latest market study on “Dry Ice Market Size & Forecast to 2030 –Global Analysis – by Type, and Application," the dry ice market size was valued at US$ 587.68 million in 2022 and is expected to reach US$ 936.90 million by 2030; it is estimated to register a CAGR of 6.0% from 2022 to 2030. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Dry ice, also known as solid carbon dioxide, is a unique substance that plays a crucial role in various industries and applications. It is formed by pressurizing and cooling carbon dioxide gas, causing it to transform directly from a gas to a solid without passing through a liquid state. This process results in the formation of dry ice pellets, blocks, or slices. One of the primary uses of dry ice is in the transportation and storage of perishable goods. Its extremely low temperature of -78.5 degrees Celsius (-109.3 degrees Fahrenheit) makes it an ideal coolant for maintaining the freshness and quality of food, pharmaceuticals, and other temperature-sensitive products during transit. Dry ice sublimates, or turns directly into gas, without leaving behind any residue, eliminating the need for cleanup and ensuring a clean and hygienic environment. The benefits provided by dry ice in the pharmaceutical, machine blasting cleaning, food preservation, and entertainment industries have led to an increased demand for dry ice over water-based ice which is driving the dry ice market growth. Thus, the increasing preference for dry ice over water-based ice is driving the growth of the dry ice market.

Global Dry Ice Market Breakdown – by Region

Dry ice also finds applications in the cleaning industry. Its unique properties make it an effective cleaning agent for removing stubborn dirt, grease, and contaminants from various surfaces. When dry ice comes into contact with a surface, it undergoes sublimation, producing a rapid phase change from solid to gas. This process creates tiny explosions that dislodge dirt particles, making it an efficient and environmentally friendly cleaning method. In laboratories and scientific research facilities, dry ice is commonly used for cryogenic preservation and transportation of biological samples, such as cells, tissues, and vaccines. Its extremely cold temperature helps maintain the integrity and viability of these sensitive materials during storage and shipping. Furthermore, dry ice has become popular in the entertainment industry for creating special effects, such as fog and smoke. When dry ice is added to hot water or placed in a fog machine, it produces a dense fog-like vapor that adds drama and visual appeal to stage performances, concerts, and film productions.

The dry ice market is likely to surge by 2030 owing to the rapidly increasing demand for frozen foods. An increase in demand for frozen foods and a rise in the usage of dry ice as refrigerant in food and shipping industries are key factors anticipated to provide growth opportunities to the global dry ice market. As consumers increasingly opt for convenient and ready-to-eat frozen food options, the demand for efficient and reliable cold chain logistics solutions rises in tandem. Dry ice, which is solid carbon dioxide (CO2) at extremely low temperatures, serves as a crucial refrigerant and cooling agent in the transportation and storage of frozen foods. Its unique properties, including its sublimation at -78.5°C (-109.3°F), make dry ice an ideal choice for maintaining the required temperature conditions during the transportation and storage of perishable goods. The growth of e-commerce and online grocery platforms further amplifies the demand for frozen foods, as consumers seek convenience and accessibility in purchasing food products online. This trend has led to an expansion of cold chain logistics networks, driving the need for reliable refrigeration solutions such as dry ice. Additionally, the COVID-19 pandemic has accelerated the adoption of frozen foods, as consumers prioritize food safety, shelf life, and stockpiling of essential items. As a result, the demand for dry ice has surged, particularly in industries such as food and beverage, pharmaceuticals, healthcare, and biotechnology. Moreover, dry ice is widely used in disaster response and emergencies. It is utilized to transport perishable supplies, such as food, water, and medical equipment, to affected areas. The sublimation of dry ice eliminates the need for electricity or refrigeration units, making it a practical solution in remote or disaster-stricken locations.

Polar Ice; Continental Carbonic Products Inc.; Sicgil India Limited.; Linde PLC; Dry Ice UK Ltd.; Dry Ice Corp; Reliant Dry Ice; CryoCab; Praxair Technology, Inc.; and ACP are among the prominent players profiled in the dry ice market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The dry ice market report also consists of company positioning and concentration to evaluate the performance of competitors/players in the market.

The "Global Dry Ice Market Analysis to 2030" is a specialized and in-depth study of the chemicals & materials industry, focusing on the global dry ice market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The global dry ice market is segmented based on type and application. Based on type, the dry ice market is segmented into pellets, blocks, and others. In 2022, the blocks segment held the largest dry ice market share. The solid blocks of dry ice are commonly used for temporary refrigeration as carbon dioxide does not have a liquid state at normal atmospheric pressure and sublimates directly from the solid state to the gas state. Blocks of dry ice are produced in a block press. Blocks of dry ice are used in cleaning industrial equipment. It helps with the materials such as glue, ink, rubber, paint, oil, etc. The standard measurement of blocks is 10’’ x 10’’x12’’ and approximately weighs 60 lbs. Compared to pellets and slices with the same weight a dry ice block has less surface area, and it takes longer to sublimate and lasts longer than other forms of the same weight.

Based on application, the dry ice market is segmented into food and beverages, storage and transportation, healthcare, industrial applications, and others. In 2022, the storage and transportation segment held the largest dry ice market share. Dry ice is widely used for shipping goods. It has enhanced international trade allowing countries to export and import perishables. Products that rely on dry ice include fish, flowers, herbs, etc. Storage of perishable foods such as meat, and fish is dependent on cold storage to maintain their good conservation over time. The most efficient cold storage is to maintain the color, flavor, texture, and smell of the food products. Dry ice is also used in dry storage of stock cereals, rice, fruits, vegetables, and flour that do not require a temperature control system.  Dry ice is often used as a coolant during the transportation of temperature-sensitive products because it is colder than water ice and has no liquid phase in standard atmospheric conditions. Dry Ice can keep up with the "cool chain" all through the whole dispersion chain, from creation to end-user.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com