Dry Ice Market Opportunities Key-Players

Dry Ice Market Opportunities, Key-Players, Revenue, Emerging-Trends, Business-Strategy 

As per the
research reports by MRFR, the global dry
ice market is likely to cross a market size of over USD270
million by the end of 2027 while recording a healthy CAGR of over 7% during the
review timeframe.

Dry ice is a
type of carbon dioxide (CO2) that converts to gas rather than liquid after
sublimation. It is a slightly acidic, non-flammable, and odorless material
produced by compressing and cooling CO2 gaseous in the presence of high
pressure, and it generates liquid CO2 in the primary stage. The global market
for dry ice has witnessed massive growth in recent times. The market's growth
is primarily being driven by the increasing demand for dry ice over water-based
ice. Furthermore, the growing demand for dry ice in machine blast cleaning,
food, entertainment, and pharmaceuticals industries for numerous applications
is also likely to enhance the market performance over coming years. However,
the market growth is likely to be restricted by the presence of other
alternatives and the storage problems associated with dry ice.

Segment
Analysis

The global
market for dry ice is fragmented into several segments based on application,
type, and region.

By type, the
global dry ice market is split into dry ice column, dry ice slice, dry ice
slab, dry ice powder, dry ice block, dry ice pellet, and others.

Based on
application, the dry ice market is bifurcated into industrial cleaning, food
manufacturing, transport & distribution, research, entertainment industry,
and others. 

Regional
Analysis

The global
market for dry ice is studied across five major regions, including
Asia-pacific, Latin America, Europe, North America, and the Middle East &
Africa.

The Asia-Pacific
regional market for dry ice is likely to witness the fastest growth over the
review timeframe. The regional market's growth is being driven by the growing
demand for dry ice in food preservation.

The North American
regional market for dry ice is anticipated to record substantial growth over
the assessment period. The regional market's growth is being driven by the
growing demand in the entertainment industry.

The dry ice
market for the European region is projected to exhibit significant growth over
the assessment timeframe due to the growing demand for dry ice in the medical
sector.

Competitive
Analysis

The global
market for dry ice has an intensely competitive landscape with a wide number of
players spread worldwide. The players in the global market are adopting several
new strategies to strengthen their market footprint. The list of leading
players in the global dry
ice market report includes Pacific/Reliant Dry Ice (US), Dry Ice Corp.
(US), Air Liquide (France), Polar Ice Ltd. (Ireland), Chuan Chon Enterprise
(Taiwan), Single India Limited (India), Tripti Dry Ice Co (India), Ice (US),
CryoCarb (US), Linde plc (US), Continental Carbonic Products, Inc. (US), Dry
Ice UK Ltd (UK), and several others.

Recent
Developments

·        
October 2021- ASCO CARBON DIOXIDE has announced
the launch of ASCO electric Active Dry Ice Saw – AAS as a part of an expansion
move for its dry ice product portfolio. Being the first mass-produced active
dry ice saw, which is particularly developed for cutting dry ice slices, the
launch signs a major milestone for the dry ice market. The saw can produce over
600 slices per hour and cut the dry ice blocks of thickness over 70mm into two
or three pieces, all of which enable dry ice manufacturers to boost the
production capacity substantially.

Furthermore,
depending on customer needs, the active dry ice saw can be turned into the
optional double saw blades in only a few minutes. This means that non-standard,
small block sizes can also be manufactured.

Managing
Director of ASCO CARBON DIOXIDE, Marco Pellegrino, while commenting on the
latest innovation said that ASCO marks its goals to be one of the market
leaders in dry ice manufacturing with the launch of the world's first active
dry ice saw.

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