Dry Ice Market Forecast to 2032 - COVID-19 Impact and Global Analysis By Type (Pellets, Blocks, and Others) and Application (Food and Beverages, Storage and Transportation, Healthcare, Industrial Applications, and Others)

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.

Dry ice is widely used in its place since it melts at a lower temperature than conventional water-based ice and creates no waste because it does not. Furthermore, unlike certain other refrigerants, dry ice is not toxic or flammable.
The need for dry ice is expected to increase as the dry ice machine market grows internationally. The rise of the dry ice market's revenue has been considerably aided by large multinational corporations and independent businesses.

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Dry ice made of carbon dioxide is primarily utilised as a refrigerant and cooling agent. It leaves no traces since it is a type of solid carbon dioxide. It is referred to as "dry ice" due to the sublimation process that was utilised to make it. When heated, it instantly turns into a gas instead of melting into a liquid. Dry ice has a lower temperature than water ice. This is a crucial advantage of dry ice.

In order to create dry ice, carbon dioxide is first compressed into a gas and then chilled till it liquefies. The liquefied form is expanded under pressure to produce dry ice, often known as solid carbon dioxide.

Dry ice is a vital component for the efficient transportation of such goods during long and distance shipping because it is not only an excellent refrigerant for keeping perishable goods like seafood, gourmet foods, baked goods, meat and poultry and dairy (ice cream, milk, cheese) frozen in supermarkets and convenience stores. It is also affordable and environmentally friendly. A measure of a gas' greenhouse effect known as the "global warming potential" (GWP) compares the amount of energy absorbed by a tonne of an emitting gas to a tonne of carbon dioxide released into the atmosphere (CO2).

Dry Ice Market - Segmentation
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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The Dry Ice Market -Regional Analysis
During the projected timeline, Asia Pacific is expected to dominate the worldwide dry ice market. Europe is likely to adopt it after it. The market in Asia Pacific is being driven by an increase in demand for dry ice in the transportation, healthcare, and entertainment sectors in China, Japan, and India.

The Dry Ice Market - Key Market players
The major players in the market are: 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 nexAir LLC among others.

Report scope
Global Dry Ice Market: Historical Years- 2018-2021
Global Dry Ice Market: Forecast Years- 2022-2030
Global Dry Ice Market 2022- USD 1247.22 Million
Global Dry Ice Market CAGR- 4.5%

Dry Ice Market - Market Trends
• With the growth of the dry ice machine industry internationally, demand for dry ice is anticipated to increase. Large private companies and multinational corporations have made significant contributions to the expansion of the dry ice market's revenue.
• The demand for dry ice is expected to rise as the dry ice machine market expands globally. The growth of the dry ice market's income has been significantly aided by large private enterprises and multinational corporations.
• Dry ice's adaptability and use as a powerful substitute for traditional electric power-based cooling systems are also anticipated to drive up demand for the substance during the projection period.

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