Press release
Dry Ice Market Size to Be Valued at USD 2.73 billion by 2032, Record a CAGR of 7.4% | Rising Demand for Frozen Foods and Perishable Goods to Drive Market Growth
dry ice market
Dry ice, a solid form of carbon dioxide, offers a unique and efficient solution to traditional water-based ice. Unlike its liquid counterpart, it sublimes directly into the gas when heated without leaving any residue behind. This acidic, odorless, colorless, and non-flammable material is produced through the process of compressing and cooling gaseous carbon oxide (CO) at extremely high temperatures, initially forming liquid CO. This liquid form then undergoes pressurized expansion to form dry ice, which is then subsequently compressed into pellets, slices or blocks. It is cost-effective compared to traditional ice. It has non-combustible and non-toxic properties, making it a safer choice for various applications, thereby fueling the market growth.
Fortune Business Insightsโข displays this information in a report titled, "Dry Ice Market Size and Share Report Analysis, 2024-2032".
๐ฎ๐๐ ๐ ๐ญ๐๐๐ ๐บ๐๐๐๐๐ ๐น๐๐๐๐๐๐๐ ๐น๐๐๐๐๐ - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/dry-ice-market-103003
Dry Ice Marke Segmentation:
Ice Pellets to Lead Market Due to Their Wide Adoption for Temperature-Sensitive Shipments
Based on type, the market is divided into dry ice slices, dry ice pellets, dry ice blocks, and others. The dry ice pellets segment is projected to hold the largest dry ice market share during the forecast period with the escalating adoption of temperature-sensitive shipments, such as vaccines, pharmaceuticals, industrial goods, and perishable foods and beverages. These pellets are extensively utilized owing to their capacity to maintain stable temperatures, thereby ensuring the integrity of the goods being transported.
Transportation & Storage Industry Holds Leading Position Owing to its Provision of Logistics Services for Temperature-Sensitive Products
Based on application, the market is segmented into food industry, medical & pharmaceutical, transportation & storage, entertainment industry, plastic, pharmaceutical, and others. The transportation & storage segment accounted for the largest market share in 2023. The transportation and storage industry offers a comprehensive suite of products and services tailored to cater to specific needs for diverse industries, such as food & beverage, pharmaceuticals, healthcare, logistics, and manufacturing. This industry encompasses a wide range of solutions for the unique requirements of each sector.
The market is studied regionally across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
LIST OF KEY COMPANIES PROFILED IN THE REPORT:
Linde plc (Ireland)
CryoCarb (U.S.)
NEXAIR (U.S.)
Dry Ice UK Ltd. (U.K.)
Central McGowan (U.S.)
ASCO CARBON DIOXIDE LTD (U.S.)
The Iceman (Canada)
Polar Ice Ltd. (Ireland)
Chillistick Ltd. (U.K.)
Praxair Technology, Inc. (U.S.)
Dry Ice Marke Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading companies, applications, and types. It has also focused on the latest market trends and highlights vital industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
๐ฎ๐๐ ๐ ๐ธ๐๐๐๐ - https://www.fortunebusinessinsights.com/enquiry/get-a-quote/dry-ice-market-103003
Drivers and Restraints:
Rising Demand for Frozen Foods and Perishable Goods to Drive Market Growth
Cold chain logistics is a critical component in the modern supply chain, responsible for the transportation and storage of temperature-sensitive products, such as pharmaceuticals, food, and biologics in a controlled environment. This process aims to maintain the integrity and quality of products throughout the distribution process. Dry ice plays a pivotal role in the system by providing reliable and cost-effective means of keeping these goods within the required temperature at the time of transit. The increasing globalization of trade and growing demand for frozen foods and perishable goods have fueled the expansion of the cold chain logistics industry. The rise in e-commerce and increasing popularity of frozen food delivery services has generated a greater need for reliable and efficient solutions to ensure the safe and timely delivery of goods to consumers.
However, disruptions in the supply chain due to logistic complexities, regulatory changes, and geopolitical conflicts can impede manufacturing and stifle the dry ice market growth.
Regional Dry Ice Marke Analysis:
Asia Pacific Dominates Due to Increase in E-commerce and Online Grocery Delivery Services
Asia Pacific experienced significant growth in 2023 and is projected to dominate the market during the forecast period. This dominance is driven by the increase in e-commerce and online grocery delivery services in the region, which contributes to the rising product adoption for the delivery of perishable goods.
North America is projected to exhibit substantial growth, driven by the region's robust presence in food & beverage, pharmaceuticals, and logistics sectors.
๐น๐๐๐ ๐ด๐๐๐ ๐ฐ๐๐๐๐๐๐๐๐๐๐ - https://www.fortunebusinessinsights.com/dry-ice-market-103003
Competitive Landscape:
Key Market Players Adopt Various Strategic Initiatives to Increase Their Market Share
Prominent organizations in the market are increasing their focus on undertaking various strategic initiatives to offer exceptional operational efficiency. They are also implementing acquisition and expansion activities and developing advanced technologies to improve their market position. In addition, substantial investments in R&D of technologies enhance product output.
Notable Industry Development:
June 2022: HCL Technologies DRYiC introduced DRYiCE IntelliOps, a comprehensive solution designed to meet full-stack AIOps and observability requirements of enterprises.
๐น๐๐๐๐๐๐ ๐น๐๐๐๐๐๐ -
Carbon Dioxide Market - https://www.fortunebusinessinsights.com/carbon-dioxide-market-102866
Industrial Gases Market - https://www.fortunebusinessinsights.com/industry-reports/industrial-gases-market-101728
Calcined Bauxite Market - https://www.fortunebusinessinsights.com/calcined-bauxite-market-106751
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