Dry Ice Market is expected to reach US$ 300 Million by 2032, flourishing at an 8% CAGR

Demand for dry ice is projected to grow at an 8% CAGR to $300 million by 2032. The market is projected to be worth US$138.95 million in 2022 and to grow by a factor of two during the following ten years.

Rapidly increasing demand for frozen foods and growing use of dry ice as refrigerant across the food and shipping industries is anticipated to significantly drive the growth of dry ice market. Notable growth in transportation industry is expected to support the shipping of products, thereby holding impressive revenue growth opportunities for dry ice market.

Grocery stores and healthcare industry are anticipated to create lucrative growth opportunities for the growth of dry ice market with rising lengthy transportation trips in the forthcoming years. However, inability of dry ice in long-term storage might restrain the growth of dry ice market in the forthcoming years.

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Dry Ice is solid form of carbon dioxide. Solid carbon dioxide is characterized by phase change from solid state directly to gaseous state without undergoing change into liquid state with an increase in temperature. As such, it does not lead to any residue post the phase change and hence is rightly termed as Dry ice. Dry ice manufacturing process involves initially compressing and cooling gaseous carbon dioxide to yield liquid carbon dioxide. In the next step, this liquefied carbon dioxide is allowed to undergo expansion following which it is pressurised to yield solid carbon dioxide or dry ice.

Dry ice is often used instead of traditional water based ice due to relatively lower temperature(-79 degrees) of dry ice as compared to that of water based ice at the same time it does not melt into a liquid form, rendering it free from waste generation. Moreover, dry ice is non-flammable and non-toxic as opposed to some of the other refrigerants used.

Dry Ice Market: Region-wise Outlook

On the basis of geographic regions of the globe, global Dry Ice market is segmented into seven major geographic segments. These key market segments are North America, Western Europe, Eastern Europe, Asia Pacific, Japan, Middle East & Africa and Latin America Dry Ice market.

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Dry Ice Market: Key Players

Some of the identified major participants of the global Dry Ice market are as follows:
• Continental Carbonic Products, Inc.
• Yara International ASA
• Dry Ice Corp.
• Dry Ice UK Ltd
• Praxair Technology, Inc.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies and application industry.

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Key Segments Covered in the Dry Ice Market Report
Type:
• Dry Ice Pellets
• Dry Ice Blocks
• Other Dry Ice Types

Application:
• Dry Ice for Food & Beverages
• Dry Ice for Storage & Transportation
• Dry Ice for Healthcare
• Dry Ice for Industrial Cleaning
• Dry Ice for Other Applications

Region:
• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East & Africa

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.