Dry Ice Market By End Use Industry Type (Industrial Sector, Transportation, Food Processing, Healthcare, Commercial, Entertainment Industry and Others); By Machine Type (Production Machine & Cleaning Machine) - Global Demand Analysis & Opportunity Outlook 2027

Dry Ice Market

Dry ice refers to a type of ice that is used as a refrigerant to keep things cold in medical and food industries and generate clouds of smoke in stage shows in entertainment industry. It is a form of solid carbon dioxide that does not leave any residue. It is called dry ice because of the process of sublimation, where upon heated it changes directly into a gas instead of melting into liquid.

Dry ice mechanism involves compressing gaseous form of carbon dioxide followed by cooling to liquefied form of CO2.  Further, the liquefied form goes through pressurized expansion to obtain dry ice, sometimes also known as solid carbon dioxide. As compared to water based ice, dry ice is frequently used due to its relatively low temperature (-78°C).

Dry ice is non-combustible and non-toxic in nature as compared to other forms of refrigerants. Dry ice finds its usage in industrial sector for conserving frozen foods where mechanical cooling is unattainable and also in industrial cleaning with the help of dry ice blasting method which cleans contaminants like ink, dirt, mold release agents, paint, oil, and glue among others. This method is a proficient and cost efficient way for industries to hone quality and production capability. It also finds its applications in restoration of buildings that are damaged in fire accidents.

Market Size and Forecast

The demand for dry ice market affirms to magnify in development of industry for dry ice machines. The dry ice market is expected to expand at a CAGR of approximately 6.8% over the next ten years. The dry ice market has generated around USD 158 million in year 2017 and is anticipated to reach approximately 234 million USD by the end of forecast period.

The dry ice machine market is determined for definite growth during forecast period. Dry ice market has large number of manufactures coming from private firms as well as large multinational organizations, anticipated to account for about 70% share in terms of revenue. This factor is estimated for positive growth of the dry ice market.

Globally, Europe has the highest consumption market which consumed largest consumption amount in 2017.  In terms of production, Europe has occupied the major share of around 46 % in dry ice production market in 2017 followed by the United States and Asia-Pacific with their market share around 33% and 14% of global dry ice production.

Market Segmentation:

Our in-depth analysis of the dry ice market includes the following segments:

By End Use Industry Type

• Industrial Sector
• Transportation
• Food Processing
• Healthcare
• Commercial
• Entertainment Industry
• Others

By Machine Type

• Production Machine
• Cleaning Machine

By Region

Dry ice market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
• Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
• Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis
• Middle East and Africa (GCC, North Africa, South Africa and Rest of MEA) Market Size and Y-O-Y Growth Analysis

Growth Drivers and Challenges

Dry ice market is anticipated to witness a steady growth during the forecast period. This can be attributed to the use of dry ice for industrial cleaning for clearing out contaminants like ink, mold release agents, paint, glue and different forms of dirt among others with the help of dry ice blasting method. Dry ice is a cost effective method that is likely to bolster the demand of dry ice market in the near future.

Due to rising fire accidents, there is surging need for restoration of residential and industrial buildings. Dry ice can be used for renovation in such cases furthering the growth of dry ice market. Factors such as these combined with its non-toxic and non-combustible properties are anticipated to boost the market growth by the end of forecast period.

Globally, dry ice market is estimated to witness stable growth during forecast period. This can be attributed to rising demand for dry ice for frozen foods along with usage of dry ice as a refrigerant in shipping and food industries. The applicable use of dry ice as substitute for conventional electric power based cooling arrangement is anticipated to fuel the growth of dry ice market by the end of forecast period.

However, inability for long term storage might deter the growth of dry ice market.

Key Players

• US Ice Carvers
• Messer Group
• Yara International ASA
• Polar Ice
• Continental Carbonic Products Inc.
• Sicgil India
• Praxair Technology Inc.
• Chuan Chon Dryice
• Air Liquide
• Ice Tech

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The dry ice market is segmented as follows:

• By Application Type Market Size & Y-O-Y Growth Analysis
• By Setup Location Type Market Size & Y-O-Y Growth Analysis
• By Features Market Size & Y-O-Y Growth Analysis
• By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment