Why Is Dry Ice Gaining Popularity in the Cold Chain Logistics Sector?
Market Overview
Dry Ice refers to the solid
version of carbon dioxide (CO2). It is known for not leaving any
residues. Dry Ice is produced by cooling and compressing the carbon dioxide at
very high pressure, producing the liquid version of the compound. The initial
stage of the compression always requires pressurized expansion, which leads to
the formation of the desired initial stage. The process begins with a
convenient hydraulic pressure applied to the basic compound, and then an
adequate amount of pressure is applied to move to the formation of slices,
blocks, and pellets. The temperature of the compound can soar down as low as
-75 degrees from Ice, and when it undergoes the process of sublimation, Dry Ice is
produced.
Dry
Ice Market is expected to reach 763.50 million in the forecast
2024-2032. Healthy and substantial growth is expected from the market with a
fixed CAGR of 6.75%. By the day, there had been a rising preference for dry
products in the market compared to water and ice-based products. Even in its
fundamental form, Dry Ice has a comparatively low temperature considering the
water-based Ice. This makes the product perfect and suitable for usage over
other water-based products with their demerits. One of the major advantages of
the product is that it doesn’t leave any residue when heated, making it the
perfect side ingredient for using non-toxic properties. Most drinks like soda
and non-carbonated drinks possess benefits, which are the major driving factors
of the Dry Ice Market. There has been a constantly rising demand for dry
products in various entertainment and pharmaceutical industries. The advantages
of the product over water-based ice products make the market rise.
However, the pandemic brought a major drawback to
the entire production of the Dry Ice Market. The supply chains were disrupted,
as a result of which there was a problem with the import and export of raw
materials. Despite this, healthy growth was forecasted for the market in its
forecast period.
Some of the key players in the Dry Ice market include Ice (US), Air Liquide (France), Dry
Ice UK Ltd (UK), Dry Ice Corp. (US), Tripti Dry Ice Co (India), Pacific/Reliant
Dry Ice (US), Continental Carbonic Products, Inc. (US), Single India Limited
(India), Linde plc (US), Chuan Chon Enterprise (Taiwan), CryoCarb (US)
Market Segmentation
The Dry Ice Market is segmented majorly into type
and application.
Depending upon the type, the Dry Ice Market is
segmented into blocks, pellets, and others. Depending upon the application, the
market is again segmented into storage, transport, healthcare, industrial
cleaning, and food.
Regional Analysis
A recent geographical stat
updated that the Dry
Ice Market has recently shown its enormous global growth in the field of South America and
Asia-Pacific due to its growing economies. Europe also leads its way with
global driven demand for the same.
The dry ice industry had been experiencing steady growth due to
its diverse applications, including in food preservation, medical
transportation, and industrial processes. The market was largely dominated by a
few key players, with companies like Air Liquide, Continental Carbonic, Linde
plc, and Praxair holding significant market shares. The exact distribution of
market share among these and other players may have evolved since then. For the
latest and most accurate information on the dry ice market share, I recommend
consulting up-to-date industry reports and market analyses.
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