Dry Ice Market Growth 2023- Share, Demand, Growing CAGR of 8.24% with Upcoming Trends, Business Challenges, Opportunities and Forecast and Analysis 2032: SPER Market Research

Dry Ice Market

Dry ice” refers to solid carbon dioxide (CO2) that leaves no residue and possesses characteristics such as being non-flammable, colorless, mildly acidic, and odorless. It is produced by compressing and cooling CO2, then subjecting the liquid form to pressurized expansion and hydraulic pressing, resulting in practical dry ice forms. Dry ice sublimates, transitioning directly from solid to gas when heated, making it valuable for refrigeration, particularly in preserving frozen and medical items.

According to SPER market research, Dry Ice Market Size– By Type, By Application, By Machine Type, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Global Dry Ice Market is predicted to reach USD 0.31 billion by 2032 with a CAGR of 8.27%.

There are several factors that contribute to the growth of dry ice market globally. Due to consumers’ increasing preference for dry ice versus water-based ice, the market for it is developing. Dry ice is a vastly superior substitute for water-based ice. After being cooked, the dry ice leaves no trace. Additionally, the brewing of soda and other drinks involves the usage of dry ice. A need for dry ice can be seen in the pharmaceutical, entertainment, culinary, and machine blast cleaning industries. Dry ice is also used in the transfer of organs, blood, and body parts. Due to the wide variety of uses, it is projected that dry ice industry trends would rise over the projection period.

Request For Free Sample Report @ https://www.sperresearch.com/report-store/dry-ice-market.aspx?sample=1

However, the key challenge is that because dry ice sublimates in 18 to 24 hours, it cannot be preserved for an extended period of time. This is one of the primary obstacles to the global market. The growth of the dry ice sector may also be constrained by the availability of less expensive alternatives. The dearth of skilled labour and a lack of expertise in less developed areas are major problems for the dry ice industry. In low-income areas, people currently employ conventional cooling methods like water-based ice, which is problematic for the global market.

COVID-19 Impact on Global Dry Ice Market

Additionally, the COVID-19 pandemic, has left a profound mark on various industries worldwide. Its detrimental effects have reverberated through sectors like food and beverage, pharmaceuticals, transportation, and more. The pandemic-induced lockdowns brought production to a standstill, disrupting supply chains and causing an imbalance between supply and demand. Dry ice, widely used in the food and beverage industry, witnessed a decline in demand due to reduced food production. Additionally, the pharmaceutical sector, relying on dry ice as a refrigerant, also saw a decrease in demand. Travel and transportation restrictions further compounded these challenges. Although the pandemic adversely affected the dry ice market, major companies are working towards revitalizing demand as normalcy returns.

Geographically, the Asia-Pacific region is predicted to experience the highest market growth among these due to the rising demand for dry ice in food preservation. North America is experiencing a market expansion in the health industry as a result of the escalating demand in the entertainment industry. Europe is positioned to experience steady market expansion as a result of the expanding demand for dry ice in the medical sector. Additionally, some of the market key players are ASCO CARBONDIOXIDE LTD, Central McGowan, Chillistick Ltd, Linde, Polar Ice Ltd, Praxiar Technology, The Iceman, Thomas Scientific, VICTEX, Others.

Global Dry Ice Market Segmentation:
By Product: Based on the Product, Global Dry Ice Market is segmented as; Dry Ice Blocks, Dry Ice Pellets, Dry Ice Slab, Dry Ice Slice, Dry Ice Column, Dry Ice Powder, Others.
By Capacity: Based on the Capacity, Global Dry Ice Market is segmented as; Dry Ice for Food & Beverages, Dry Ice for Healthcare, Dry Ice for Industrial Cleaning, Dry Ice for Other Applications, Dry Ice for Storage & Transportation.
By Market Type: Based on the Market Type, Global Dry Ice Market is segmented as; Production Machine, Cleaning Machine.
By End User: Based on the End User, Global Dry Ice Market is segmented as; Industrial Sector, Transportation, Food Processing, Healthcare, Commercial, Entertainment Industry, Others.
By Region: In terms of region, the Global Dry Ice Market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to be the key region of the global dry ice market during the forecast period. It is likely to be followed by Europe. Increase in demand for dry ice in the industrial sector, transportation, health care, and entertainment industries in China, Japan, and India is driving the market in Asia Pacific.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

For More Information, refer to below link:-

Dry Ice Market Future Opportunity

Related Reports:

Italy Lubricant Market Size- By Product Type, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Europe Carbon Black Market Size- By Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

Follow Us –          

LinkedIn | Instagram | Facebook | Twitter

Contact Us:

Sara Lopes, Business Consultant – U.S.A.

SPER Market Research