Press release
Competitive Landscape: Key Market Leaders and New Entrants in the Solid Carbon Dioxide Industry
Solid Carbon Dioxide Market
Projected Market Value and Growth of the Solid Carbon Dioxide Market
The solid carbon dioxide market is poised for substantial growth over the coming years, with its value expected to reach $1.91 billion by 2030. This expansion corresponds to a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth include the rapid development of the biopharmaceutical sector, the rising popularity of e-commerce food delivery services, the adoption of greener cleaning methods, increasing demand for medical logistics, and investments in cold chain infrastructure. Key trends driving the market involve heightened requirements for cold chain logistics, broader use in pharmaceutical transport, the growing application of dry ice blasting, enhanced food preservation techniques, and a surge in demand for fog effects in entertainment.
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Key Industry Leaders in the Solid Carbon Dioxide Market
Several prominent companies dominate the solid carbon dioxide sector, including Linde plc, Air Liquide Group, Air Products and Chemicals Inc., Continental Carbonic Products Inc., Matheson Tri-Gas Inc., and BOC Limited. Other notable players are Gulf Cryo Holding, SICGIL Industrial Gases Limited, Iwatani Corporation, Coregas Pty Ltd., Bhavani Enterprise, Sri Venkateswara Carbonic Gases Private Limited, Bathinda Industrial Gases Pvt. Ltd., Panki Oxygen Pvt. Ltd., Shivam Oxygen Pvt. Ltd., BOSCO India Pvt. Ltd., Universal Industrial Gases Inc., Southern Industrial Gas Sdn Bhd, Axcel Industrial Gases, and Niketa Ice Blaast Pvt. Ltd.
A recent strategic move took place in February 2025 when Holston Gases LLC, a US-based industrial gases firm, acquired Tri-Cities Dry Ice LLC. This acquisition aims to boost Holston Gases' dry ice production and distribution capabilities throughout the Tri-Cities area, enhancing its service portfolio for industrial, commercial, and healthcare sectors. Tri-Cities Dry Ice LLC specializes in manufacturing and supplying dry ice for these specific applications.
Innovations and Emerging Trends in the Solid Carbon Dioxide Market
Leading market players are focusing on developing innovative products like dry ice blasters, which emphasize efficiency, ease of use, and environmental friendliness. Dry ice blasters work by using compressed air to propel dry ice pellets at high speeds for effective surface cleaning without abrasive damage.
For instance, in July 2023, Cold Jet LLC, a US-based machinery company, introduced the IceRocket dry ice blaster. This entry-level professional device offers aggressive cleaning with dry ice pellets, minimizing downtime and boosting throughput. Its design is user-friendly and suitable for eco-conscious cleaning across various industries, providing a cost-effective and sustainable option.
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Key Segments and Market Drivers in the Solid Carbon Dioxide Industry
This report breaks down the solid carbon dioxide market into multiple essential segments:
1) By Type: Food Grade, Industrial Grade, Pharmaceutical Grade
2) By Production Method: Commercial Production, In-Situ Production
3) By Distribution Channel: Direct Sale, Distributor, Wholesale
4) By Application: Food Preservation, Shipping and Transportation, Blast Freezing, Special Effects in Entertainment, Industrial Cooling, Cryogenic Applications
5) By End User: Food and Beverages, Healthcare, Logistics and Transportation, Entertainment and Events, Manufacturing
Further subcategories include:
- Food Grade: Cold Chain Logistics, Food Preservation
- Industrial Grade: Chemical Processing, Dry Ice Blasting
- Pharmaceutical Grade: Vaccine and Biological Transport, Pharmaceutical Packaging, Laboratory Applications
These divisions reflect the diverse uses and demands across industries, highlighting the market's broad scope and specialized applications.
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