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Dry Ice Market Size Worth $ 270 Million by 2025 at 7% CAGR – Report by Market Research Future (MRFR)

Dry Ice Market Insights and Industry Analysis by Type (Pellets, Blocks, and others), Application (Food & Beverages, Storage & Transportation, Healthcare, Industrial Cleaning, and others) and Region (North America, Europe, Asia-Pacific and Rest of the World), Competitive Market Size, Share, Trends, and Forecast

/EIN News/ -- New York, US, June 18, 2021 (GLOBE NEWSWIRE) --

Dry Ice Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Dry Ice Market - Information by Type, Application, and Region - Forecast till 2025” the market is predicted to reach 270 Million by 2025 at a CAGR of 7%

Market Scope:

Dry ice refers to the frozen form of carbon dioxide (Co2) usually captured during industrial processes. The key application of dry ice is in industrial cleaning as it is a cost-effective solution. The dry ice market companies are growing their product groups by giving dry ice in different constructs such as dry ice blocks, dry ice pellets, and dry ice cubes to supply the cumulative demand for dry ice in numerous industries. The major purpose of dry ice is industrial cleaning as it is a cost-effective product. The consumption of dry ice to repair old industrial and residential buildings, along with its non-toxic and non-combustible properties, is also driving dry ice market augmentation. Moreover, the enhancing need for frozen food has led to the demand for solutions to ensure the storing of unpreserved food products, and the expansion of cold-storage logistics is estimated to provide momentum to the progress of the global market for dry ice.

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Key Players Locking Horns:

The notable companies in the Dry Ice Market are

  • Air Liquide (France)
  • Polar Ice Ltd. (Ireland)
  • Tripti Dry Ice Co (India)
  • Continental Carbonic Products, Inc. (US)
  • Linde plc (US)
  • Chuan Chon Enterprise (Taiwan)
  • Sicgil India Limited (India)
  • Dry Ice UK Ltd (UK)
  • Dry Ice Corp. (US)
  • S. Ice (US)
  • Pacific/Reliant Dry Ice (US)
  • CryoCarb (US)

Logmore, a supply chain analytics business has rolled out a novel product for monitoring sub-zero vaccine consignments. The solution was advanced by the data logger startup is considered for the distribution of pharmaceuticals that must be stockpiled at very low temperatures, such as the COVID-19 vaccine.

Panasonic Corp. has recently declared it will unveil cold box leasing services for pharmaceutical and logistics companies in requirement of moving coronavirus vaccines, as vaccinations are now commencing on a full scale in Japan. The box, Vixell, can store materials at a temperature of - 75 C for up to 18 days utilizing refrigerants such as dry ice without any electric power supply.

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Market Segmentation:

Global dry ice market has been segmented based on Type, and Application.

The pellet segment governed the international dry ice market in 2018 due to the high requirement for pellet dry ice in many application industries. Dry ice in the form of pellets has gained popularity and is consequently widely used in the restoration of blast cleaning, old buildings, freezing, and chilling and passage of food and biological samples such as blood and vaccines.

The intensifying adoption of blast cleaning methods in numerous industrial applications is a foremost cause accountable for the growth of the industrial cleaning segment in the global dry ice market. The segment reported for the major market share in 2018 and is anticipated to continue to control the majority of the dry ice market during the forecast period. Dry ice is expended in industrial cleaning for the removal of pathogenic microbes as it is a non-hazardous and non-corrosive, cost-effective solution that can clean unreachable positions.

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Regional Analysis

The Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa regions have all been studied for the Global Dry Ice Market.

The Asia Pacific Dry Ice Market is predicted to observe the maximum growth in the dry ice market throughout the forecast period. The evolution is due to the intensifying need for dry ice in food preservation treatment.

In the region of North America, the increasing entertainment industry has directed to the rising need for dry ice, in which Canada and the US, are the leading suppliers. US regulators are permitting Pfizer's COVID-19 vaccine to be transported and kept at less-frigid temperatures, which should relieve distribution and dispensation of one of the two vaccines authorized for emergency usage in the country.

The European region observed sustainable progress in the market, due to the intensifying demand for dry ice in the medical sector.

The Middle Eastern, African, and Latin American regions are forecasted to register significant evolution, due to the intensifying demand for dry ice in industrial cleaning.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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