Based on end-use industry, the dry ice market has been segmented into industrial sector, transportation, food processing, healthcare, commercial, entertainment industry and others. Wide scale utilization of dry ice in industrial sector is anticipated to bolster the growth of dry ice market. Additionally, the demand for dry ice in food industries for conserving frozen foods and its usage as a refrigerant is anticipated to supplement the growth of dry ice market.

Dry ice market is expected to expand at a CAGR of approximately 6.8% over the next ten years which is anticipated to magnify the production of dry ice and promote the growth of dry ice market by the end of forecast period. The dry ice market has generated around USD 158 million in year 2017 and is anticipated to reach approximately 234 million USD by the end of forecast period. This factor is believed for a definite growth of dry ice market.

Geographically, Europe has been the highest consumption market for dry ice in 2017. In terms of production, Europe has occupied the major share of around 46% in dry ice production market in 2017 followed by regions of the United States and Asia-Pacific with their overall share of approximately 33% and 14% of worldwide production of dry ice.

Wide Scale Applications

Wise scale utilization of dry ice in industrial and residential sectors is anticipated to fuel the growth of dry ice market. This can be attributed to use of dry ice for industrial cleaning by dry ice blasting technique to remove various impurities such as oil glue, mold release agents and ink among other forms of dirt.

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Dry ice is used in medical sector as most of the medical equipment and supplies are transferred with dry ice as a cooling agent. Dry ice is also used by doctors to remove lumps along with other skin deficiencies. Alongside medical sector, dry ice is used in food industry as well. It is used as a refrigerant for preserving frozen foods among other numerous applications. These factors have anticipated the demand for dry ice and are expected to fuel the growth of dry ice market globally.

Nonetheless, inability for long term storage might deter the growth of dry ice market.

The report titled “Dry Ice Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the dry ice market in terms of market segmentation by end use industry type, machine type and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

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This report also provides the existing competitive scenario of some of the key players of the dry ice market which includes company profiling of US Ice Carvers, Messer Group, Yara International ASA, Polar Ice, Continental Carbonic Products Inc., Sicgil India, Praxair Technology Inc., Chuan Chon Dryice, Air Liquide and Ice Tech.

The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the dry ice market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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