Dry ice is the name given to solid carbon dioxide and is called so owing to its property of sublimating on the application of heat instead of melting into a liquid. It is used to keep produce chilled or frozen food. It is also added to water to make soda water or carbonated drinks. This gas is often captured during industrial activity and recycled into dry ice. Commercial shipping transport of perishable goods often use dry ice even for frozen as well as non-frozen goods. It is often mixed with regular ice to save shipping weight and prolong the cooling capacity of water ice. Dry ice is sometimes made instantly from liquid CO2. The resulting dry ice snow is packed in the top of a shipping container which offers extended cooling without the use of electrical refrigeration equipment and other connections.
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DRY ICE MARKET OUTLOOK
- Technological upgradation of the healthcare industry would witness the growth in consumption of dry ice to transport sophisticated and sensitive medical equipment.
- The ongoing expansion of the food beverage industry as well as the transport shipping sector would prove advantageous to the dry ice market.
- The multitude uses of dry ice project its versatility and are expected to be the major growth driver for the market.
DRY ICE MARKET REGIONAL HIGHLIGHTS
- Asia Pacific’s industrial scenario is in the midst of an uptick driven by large scale expansion across diverse geographies. This has led to the emergence of opportunities for growth in the consumption of dry ice across various end use industries which would manifest in the form of a high growth rate in consumption of dry ice over the forecast period.
- North America holds a leading market share in 2019 attributing to its advanced positioning in the growth scenario across most end use industries. The relative maturity of the region’s industrial sector and proximity to production facilities is another factor responsible for its dominance.
DRY ICE MARKET SEGMENTAL OVERVIEW
- Dry ice pellets are often added in restaurants while presenting a dish to a customer to provide a fog-effect. The pellets are also added in various drinks and cocktails to produce a fog effect. Crushed dry ice pellets can also be used to freeze home-made ice cream.
- The storage and transportation of perishable produce uses gel packs of dry ice to preserve the product like fish, until it reaches the intended destination. It is also used to transport medical equipment that are sensitive to ambient temperature.
DRY ICE MARKET KEY PLAYERS
The major companies operating in the dry ice market include Air Liquide, Chuan Chon Enterprise, Continental Carbonic Products, Inc, CryoCarb, Dry Ice Corp, Dry Ice UK Ltd, Dryice Pacific/Reliant Dry Ice, Polar Ice Ltd., Sicgil india limited, The Iceman., and The Linde Group among others.
Industry focus would be trained on rapid innovation towards product enhancement towards greater diversity of application. Such technology would eventually be taken up by various end use industries, given the functional benefits of the product. Therefore, greater awareness and cost reduction would be the main focus areas of the key players over the coming years.
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