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North America Dry Ice Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - Type (Pellets, Blocks, and Others) and Application (Food and Beverages, Storage and Transportation, Healthcare, Industrial Applications, and Others)
Market Report I 2022-11-08 I 84 Pages I The Insight Partners
The dry ice market in North America is expected to grow from US$ 75.73 million in 2022 to US$ 106.58 million by 2028. It is estimated to grow at a CAGR of 5.9% from 2022 to 2028.
Dry Ice Increasing Preference for Dry Ice over Water-based Ice
The dry ice has a low temperature than water-based ice. When it is heated, it directly changes into the gas and does not leave any residue. The dry ice is cost effective and has non-combustible and non-toxic properties. It is also used to make carbonated drinks and soda. When mechanical refrigeration is not an option, ice is an important component of both food storage and transport. Water-based ice melts very quickly and cannot be used for storage or transportation of products. Dry ice provides superior cooling and longevity. A large block of ice can cool for as long as 24 hours in a vented cooler before requiring replacement. Regular ice, on the other hand, can begin to melt in just three to four hours. Since it's made from liquefied carbon dioxide gas that has been frozen to extremely low temperatures of -109.3F, dry ice's exceptionally cold temperature allows packaged frozen products to stay in a frozen state for extended periods. Hence, for food items like ice cream, dry ice is essential. Another advantage dry ice has over regular ice is in food storage and transport. Besides causing the items being transported from becoming warmer as the regular ice melts, water will begin to accumulate within containers, potentially resulting in leakage. Dry ice evaporates into a gas through a process called sublimation which allows the container to remain free of water even after several hours. These benefits of dry ice increase its use over water-based ice in the food preservation, machine blast cleaning, and pharmaceutical industry. Furthermore, water- based ice have a very limited application scope, whereas dry ice has various applications, including, cold grinding, dry ice blast cleaning, freeze drying, in-process cooling for chemical and food industry, plumbing pipe repairs, sample distribution within pharmaceutical industry, shrink fitting, special effects, etc. The versatility of dry ice and its use as an effective alternative to conventional electric power-based cooling system is expected to boost the demand for dry ice.
Market Overview
US, Canada, and Mexico are the key contributors to the dry ice market in the North America. North America's food and beverage sector is propelling the demand of dry ice market. This can be attributed to the rising demand for dry ice for frozen foods along with usage of dry ice as a refrigerant in shipping and food industries. Further, in North America, manufacturers are engaging in cutting edge strategies and Type development to boost the quality of processed and frozen Types, which has increased the use of dry ice in keeping the frozen Types fresh for longer duration. An increase in disposable income is boosting the demand for dry ice in food Types in North America, leading to an increase in revenue generation in the region, which has also helped in the growth of the North America dry ice market. The manufacturers in the region are investing high amounts in the research and development and Type development of dry ice, thereby boosting the market growth.
North America Dry Ice Market Revenue and Forecast to 2028 (US$ Million)
North America Dry Ice Market Segmentation
The North America dry ice market is segmented into type, application, and country.
Based on type, the market is segmented into pellets, blocks, and others. The blocks segment registered the largest market share in 2022. Based on application, the market is segmented into food and beverages, storage and transportation, healthcare, industrial applications, and others. The storage and transportation segment held a largest market share in 2022. Based on country, the market is segmented into US, Canada, and Mexico. US dominated the market share in 2022. Praxair Technology, Inc; Dry Ice Corp; Reliant DRY Ice; CRYOCARB; CONTINENTAL CARBONIC Product, Inc; and LINDE are the leading companies operating in the North America dry ice market in the region.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Dry Ice Market, by Type
1.3.2 North America Dry Ice Market, by Application
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. North America Dry Ice Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Suppliers
4.2.3 Bargaining Power of Buyers
4.2.4 Competitive Rivalry
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 End-use Industries
4.4 Expert Opinion
5. North America Dry Ice Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 High Demand for Dry Ice in Storage and Transportation
5.1.2 Dry Ice Increasing Preference for Dry Ice over Water-based Ice
5.2 Market Restraints
5.2.1 The Inability of Dry Ice to be Stored for an Extended Period
5.3 Market Opportunities
5.3.1 The Rapidly Increasing Demand for Frozen Foods
5.4 Future Trends
5.4.1 Use of Dry Ice for Creating Special Effects
5.5 Impact Analysis of Drivers and Restraints
6. Dry Ice Market - North America Analysis
6.1 North America Dry Ice Market -Revenue and Forecast to 2028 (USD Million)
7. North America Dry Ice Market Analysis - By Type
7.1 Overview
7.2 North America Dry Ice Market, By Type (2021 and 2028)
7.3 Pellets
7.3.1 Overview
7.3.2 Pellets: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
7.4 Blocks
7.4.1 Overview
7.4.2 Blocks: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
7.5 Others
7.5.1 Overview
7.5.2 Others: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8. North America Dry Ice Market Analysis - By Application
8.1 Overview
8.2 North America Dry Ice Market, By Application (2021 and 2028)
8.3 Food and Beverages
8.3.1 Overview
8.3.2 Food and Beverages: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Storage and Transportation
8.4.1 Overview
8.4.2 Storage and Transportation: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Healthcare
8.5.1 Overview
8.5.2 Healthcare: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8.6 Industrial Applications
8.6.1 Overview
8.6.2 Industrial Applications: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8.7 Others
8.7.1 Overview
8.7.2 Others: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
9. North America Dry Ice Market - Country Analysis
9.1 Overview
9.1.1 North America: Dry Ice Market, by Key Country
9.1.1.1 US: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Dry Ice Market, By Type
9.1.1.1.2 US: Dry Ice Market, by Application
9.1.1.2 Canada: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Dry Ice Market, By Type
9.1.1.2.2 Canada: Dry Ice Market, by Application
9.1.1.3 Mexico: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Dry Ice Market, By Type
9.1.1.3.2 Mexico: Dry Ice Market, by Application
10. Company Profiles
10.1 Praxair Technology, Inc.
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Dry Ice Corp.
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Reliant Dry Ice
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 CryoCarb
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Continental Carbonic Products, Inc.
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 LINDE
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
LIST OF TABLES
Table 1. North America Dry Ice Market -Revenue and Forecast to 2028 (USD Million)
Table 2. US Dry Ice Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 3. US Dry Ice Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada Dry Ice Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Dry Ice Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico Dry Ice Market, By Type - Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Dry Ice Market, by Application - Revenue and Forecast to 2028 (US$ Million)
LIST OF FIGURES
Figure 1. North America Dry Ice Market Segmentation
Figure 2. North America Dry Ice Market Segmentation - By Country
Figure 3. North America Dry Ice Market Overview
Figure 4. North America Dry Ice Market, By Type
Figure 5. North America Dry Ice Market, by Country
Figure 7. North America Porter's Five Forces Analysis
Figure 8. North America Ecosystem: Dry Ice Market
Figure 9. Expert Opinion
Figure 10. North America Dry Ice Market Impact Analysis of Driver and Restraints
Figure 11. North America Dry Ice Market - Revenue and Forecast to 2028 (USD Million)
Figure 12. North America Dry Ice Market Revenue Share, By Type (2021 and 2028)
Figure 13. North America Pellets: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 14. North America Blocks: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 15. North America Others: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 16. North America Dry Ice Market Revenue Share, By Application (2021 and 2028)
Figure 17. North America Food and Beverages: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 18. North America Storage and Transportation: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 19. North America Healthcare: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 20. North America Industrial Applications: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 21. North America Others: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 22. North America: Dry Ice Market Revenue Share, by Key Country (2021) (US$ Million)
Figure 23. North America: Dry Ice Market Revenue Share, by Key Country (2021 and 2028)
Figure 24. US: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. Canada: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mexico: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
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