Dry Ice Market Overview:
The Global Dry Ice Market was valued at USD 1247.22 Million in 2022 and is projected to reach USD 1763.55 Million by 2030, growing at a CAGR of 4.5% over the forecast period. Carbon dioxide in the form of dry ice is used primarily as a refrigerant and cooling agent.
A type of ice known as "dry ice" is used as a refrigerant in the food and medical industries to maintain cool temperatures, and in the entertainment sector to create smoke clouds. It is a potent form of carbon dioxide that evaporates completely. Because it sublimates—that is, heats up and turns straight into a gas instead of melting and becoming liquid—it is hence known as dry ice.
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Dry Ice Market Dynamics:
The frozen form of carbon dioxide (CO2) that is typically captured during industrial processes is called dry ice. Because of its -79°C temperature, it is specifically utilized for refrigeration. As so, it helps preserve a variety of food items. It is typically used, handled with insulated gloves, and quickly freezes the objects. In typical climatic conditions, dry ice sublimates—a direct transition from solid to gas—without first passing through a liquid phase. It is therefore referred to as "Dry Ice." Dry ice is significantly colder than regular ice.
Dry Ice meets specific temperature requirements for the preservation of goods during storage or transportation, extending the realistic usability period of temporary and pharmaceutical items. Since dry ice doesn't melt into a liquid form and has a lower temperature than water-based ice, it is frequently utilized in place of water-based ice.
These elements, together with the fact that dry ice is non-flammable and non-toxic, are meant to propel the dry ice market. The demand for dry ice will rise when the dry ice machine business improves globally. Large corporations and enterprises' manufacturers have played a significant role in the expansion of the dry ice market. The growing acceptance of blast cleaning in some industrial applications is a major factor driving the market's expansion.
Dry Ice Market Segmentations:
The Dry Ice Market by Type is categorized into:
- Dry Ice Pellets
- Dry Ice Blocks
- Other Dry Ice Types
The Dry Ice Market by Application is classified into:
- Dry Ice for Food & Beverages
- Dry Ice for Storage & Transportation
- Dry Ice for Healthcare
- Dry Ice for Industrial Cleaning
- Dry Ice for Other Applications
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Dry Ice Market Report's Scope:
This research provides estimates and data for the Dry Ice Market for the past, present, and future. An extensive research approach was used to establish the market estimates that are presented in the study. Multiple research channels are used in the adopted research approach, including primary, secondary, and subject-related expert input. The market estimations are determined by taking into account the many economic, social, and political aspects that impact the dry ice industry in addition to the current market dynamics. The market data is also defined by different laws, government expenditure, and the expansion of research and development. The market projections take into account both favourable and unfavourable changes to the market.
The Market for Dry Ice: A Regional Examination
Asia Pacific is anticipated to hold a dominant position in the global dry ice market over the forecast period. It's conceivable that Europe will embrace it later. The growing need for dry ice in China, Japan, and India's transportation, healthcare, and entertainment industries is driving the market in the Asia Pacific region.
Key Market Players of this Report:
- Central McGowan
- VICTEX
- ASCO CARBON DIOXIDE LTD
- The Iceman.
- Linde
- Merck KGaA
- Polar Ice Ltd
- Chillistick Ltd.
- Thomas Scientific
- Pacific/Reliant Dry Ice
- Praxair Technology, Inc.
- and near LLC among others.
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