Dry Ice

Dry Ice is the frozen form of carbon dioxide (CO2) usually captured during industrial processes. It is particularly useful for refrigeration because of its freezing temperature of -79°C. Thus, it helps to preserve many food items. It is widely deployed as it quickly freezes the items, and is easily handled with insulated gloves.

Rapidly increasing demand for frozen foods and growing use of Dry Ice for refrigeration across the food and shipping industries is anticipated to drive the growth of dry ice market significantly. Distinguished growth in the transportation industry is expected to support the shipping of products opening up substantial growth opportunities for Dry Ice market. The growing grocery stores and healthcare industry are anticipated to create lucrative growth opportunities with rising long-distance transportations in the forthcoming years. However, the incompetence of Dry Ice in long-term storage might restrain the growth of dry ice market. The rising acceptance of blast cleaning in several industrial applications is a significant determinant contributing to the growth of the global Dry Ice market. Dry Ice has an increasing number of applications, particularly, in the fields of Medical and Biotechnology

Global Dry Ice Market has continued to grow steadily over the years. It is estimated to advance at CAGR of 3.81% during the forthcoming period 2020-2026 and touch the turnover of USD 289.65 million by 2026. In India based on the region, the Dry Ice market is segmented into Northern India, Southern India, Eastern India, Western India. Western India has dominated the Dry Ice market due to the entertainment industry as dry ice is significant uses in the food & beverage industry and also in the entertainment industry for creating clouds in stage shows.

Since the product from the plant is expected to be above 99.5% purity, it is suitable for most of the critical application except for certain R&D and other developmental activities. The quantity being produced from this project is less than 11% of the existing Indian Market size and 1.62% of the global market size. Hence sale of this product in Indian market through a strong and widespread Dealer network will achieve the targeted sale volumes.To make the marketing effort more aggressive, it is proposed to offer attractive discount to the traders by keeping the sale price at application level competitive and thus achieve the budgeted sale price to Dealers.