Dry Ice Market Current Scenario Trends, Comprehensive Analysis and Regional Forecast to 2032
The global dry ice market is projected to reach a value of US$ 300 Mn by 2032, with the demand growing at a robust CAGR of 8% from 2022 to 2032. Valued at US$ 137 Mn in 2021, the target market will likely reach an estimated US$ 138.95 Mn in 2022. The rising demand for dry ice to restore and renovate industrial and residential buildings damaged by fire will serve as one of the major growth inducers for the dry ice market during the forecast period.
The swiftly rising demand for frozen foods due to a fast-paced lifestyle
along with the surging usage of dry ice as a refrigerant in the food and
shipping sectors are predicted to significantly boost the growth of the dry ice
market. Considerable growth and development in the transportation sector will
likely support product shipping which will, in turn, open up various revenue
growth opportunities for the global dry ice market. Owing to a surge in long
transportation trips, grocery stores, and the healthcare industry will also
contribute towards the creation of profitable opportunities for the dry ice
market in the upcoming years.
Additionally, the dry ice market will grow steadily over the next few years
due to the increasing demand for dry ice as a refrigerant in the food,
transportation, pharmaceutical, and healthcare industries. Furthermore, the use
of dry ice for industrial cleaning through dry ice blast cleaning will also
contribute to the overall market growth. Dry ice is a safer substitute for
cleaning purposes than the use of solvents and other chemicals.
Download Sample Copy of Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-677
“Owing to its non-inflammable and non-toxic properties, dry ice is
expected to find application in a variety of industries which, in turn, will
foster the global growth of the dry ice over market the forecast period,” says
an FMI analyst.
Key Takeaways:
- The
short lifespan of dry ice may hinder its overall market growth.
- The
development of the dry ice machine industry across the globe will
strengthen market prospects.
- The
advancing entertainment industry will push the dry ice market towards
growth in North America.
- The dry
ice market in the Asia Pacific region is expected to undergo the highest
growth.
Competitive Landscape
Central McGowan, VICTEX, ASCO CARBON DIOXIDE LTD, The Iceman., Linde, Merck
KGaA, Polar Ice Ltd, Chillistick Ltd., Thomas Scientific, Pacific/Reliant Dry
Ice, Praxair Technology, Inc., and nexAir LLC among others are some of the
major players in the dry ice market profiled in the full version of the report.
Many manufacturers- large multinational corporations and private firms-
substantially contribute to the oval revenue growth of the market. These
leading market players are employing various organic and inorganic strategies
to gain a competitive advantage.
More Insights into Dry Ice Market Report
In its latest report, FMI offers an unbiased analysis of the global dry ice
market, providing historical data from 2015 to 2020 and forecast statistics for
2022 to 2032. To understand the global market potential, growth, and scope, the
market is segmented on the basis of product type (dry ice pellets, sry ice
blocks, other dry ice types), application (dry ice for food and beverages, dry
ice for storage and transportation, dry ice for healthcare, dry ice for
industrial cleaning, dry ice for other applications), and region.
According to the latest FMI reports, based on region, the dry ice market in
the Asia Pacific region is expected to demonstrate the highest growth during
2022-2032. Heightened demand in the food preservation industry will likely
generate growth opportunities for the target market in this region. Swelling
demand for dry ice from industrial, transportation, medical, and entertainment
industries, particularly those in China, Japan, and India will fuel the growth
of the dry ice market in Asia Pacific. Europe is expected to follow closely
after Asia Pacific in terms of dry ice market growth during the projected
period.
The dry ice market in North America will also present notable growth during
2022-2032. The target market in this region will be primarily driven by the
demand from the growing entertainment industry in Canada and the U.S. The
increasing demand from the transportation and pharmaceutical sector also
contributes to the overall dry ice market growth in this region during the
forecast period.
Comments
Post a Comment