India Dry Ice Market Size, By Machine Type (Production Machine, Cleaning Machine) By End-User (Industrial Sector, Transportation, Food Processing, Healthcare, Commercial, Entertainment Industry, Others) and, By Region (Northern India, Southern India, Eastern India, Western India); Trend Analysis, Competitive Market Share & Forecast, 2016-26

Published:
July 2020
Report Code:
BWC20087
Available Format:
PDF PDF Icon
Pages:
123

india dry ice market bwc20087

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India Dry Ice Market Forecast and Trends

India dry ice Market has reached USD 0.15 Million in 2018 and gained momentum in recent years with a CAGR of 10.32%, in value terms, over the forecast period 2019-2026, and expected to reach USD 8.7 Million by 2026. The rising demand for dry ice as a refrigerant in the transport, as well as the food industry, is a key driver of the dry ice market.

The business is lucrative for dry ice suppliers as the demand for dry ice food processing, and the transport sector grows. Significant growth in the transport sector is expected to support the shipping of goods, thereby creating considerable revenue growth opportunities for the dry ice industry. This can be due to the use of dry ice for industrial cleaning for the clearing of pollutants such as ink, mold release agents, paint, glue, and various forms of dirt, using, among others, the dry ice blast process. The dry ice process involves compressing the gaseous form of carbon dioxide, accompanied by cooling it to the liquefied form of CO2. In addition, the liquefied process goes through pressurized expansion to receive dry ice, also known as solid carbon dioxide. Dry ice is often used in contrast to water-based ice due to its relatively low temperature (-78 ° C). Dry ice is a cost-effective method that is likely to boost demand for dry ice during the forecast period. However, the inability of dry ice to store long-term ice may limit the growth of the dry ice market in the coming years.

India Dry Ice Market Overview:

Dry Ice is solid form of carbon dioxide and used primarily as a cooling agent. The major advantage of dry ice is, it includes lower temperature as compared to water ice and do not leave any residue (other than the incidental frost from moisture in atmosphere). The dry ice is useful for preserving frozen foods where mechanical cooling is unavailable. The dry ice is frequently used to package items which must remain frozen or cold, such as ice cream or biological samples.

Further, dry ice can be used to carbonate beverages, solidify oil spills and stop ice sculptures and ice walls from melting. It is non-toxic and non-combustible in nature as compared to other forms of refrigerants. With the help of dry ice blasting method industrial cleaning is done which cleans contaminants like dirt, ink, paint, mold release agents, oil, and glue among others. It also finds its applications in the restoration of buildings that are damaged in fire accidents.

Growth drivers 

Eco Friendly

Dry ice can be a lucrative substitution for destructive and aggressive solvents – however, without the lethal & harmful emission. As this cleaning procedure doesn't utilize water, wastewater treatment measures are not required. Clingy, versatile soil is expelled rapidly and effectively without leaving the remainders of any impact cleaning operator, hence disposing of extra cleanup and evacuation costs. Mechanical carbon dioxide begins from characteristic sources or is a purged result from synthetic responses, for example, smelling salts combination. In this manner, it has no effect on the CO2 balance.

Rising demand for dry ice globally as a refrigerant in food and transport industry

Rising interest for frozen foods for solidified nourishments alongside the utilization of dry ice as a refrigerant in the delivery and food industry. The material utilization of dry ice as a substitute for an ordinary electric power based cooling plan is foreseen to fuel the development of the dry ice market during the forecast period of 2019-2025.

Restraints

Inability of Dry Ice to Keep It for Long Term Storage

As dry ice contains carbon dioxide, it sinks to a low level and later replaces oxygenated air. Rooms or storage with improper ventilation can leads to death or suffocation. Dry ice is much colder than regular ice and can burn the skin similar to frostbite. The storage of dry ice required precise handling, such as in the extreme airtight container, after a certain period of carbon dioxide expands and can explode. The storage of dry ice required specific temperatures, and dry ice can cause frostbite with temperatures of – 109.3°F.

India Dry Ice Market: Machine type

Based on machine type, dry ice market segmented into Production Machine, Cleaning Machine. The cleaning type machine segment is dominating the machine type segment during the forecast period of 2026. It allows a cleaner to be washed even in conditions that are difficult or controversial to clean by hand with conventional methods. Dry ice cleaning lowers labor costs as it can be performed in much less time than traditional manual labor. More can be done with preventive maintenance or spot cleaning regularly without impacting efficiency. Dry ice cleaning helps reduce shutdown times, as the equipment can be washed hot and on-line. Manufacturers in large multinational corporations and private firms have made a significant contribution to the rise in sales of the dry ice industry. In less time, installations can obtain more production cycles from existing equipment by cleaning equipment.

India Dry Ice Market: End-user

Based on end-user, dry ice market segmented into Industrial Sector, Transportation, Food Processing, Healthcare, Commercial, Entertainment Industry, Others. The food processing segment is dominating the end-user segment during the forecast period of 2026 due to the increasing use of dry ice to combat the growing losses of frozen food items due to weather changes and power outages. Furthermore, dry ice cleaning makes cleaning faster, more thorough and allows food processing facilities to clean several different surfaces quickly and easily and effectively return them to output. In addition, the increase in demand for frozen food products across the region is expected to fuel dry ice market growth.

India Dry Ice Market: Regional insights

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.

Dry Ice market: Competitive Landscape

The major market players in the dry ice market are Sigcil India, Tripti Dry Ice, Yara International, S.R Industrial Dry Ice, South India gases & Dry Ice, PR Traders, Dhillon Dairy & Ice Factory, Anand Ice Depot, Kavery Dry Ice, Manav Gases Pvt Ltd, Polarice Dry Ice, and Other Prominent Players are expanding their presence in the market by implementing various innovations and technology.

Recent Developments:

Ø  In Oct 2019, Yara and IBM launch an open collaboration for farm and field data to advance sustainable food production.

The objective of the Study:

Ø  To analyze and forecast the India Dry Ice market size of the market, in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the India Dry Ice market into five regions, namely, Northern India, Southern India, Eastern India, Western India.

Ø  To outline, categorized and forecast the India Dry Ice market based on the machine type, end-user, and region.

Ø  To examine competitive developments like technological advancement, services, and regulative framework within the India Dry Ice Market.

Ø  To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2016-2019

Base Year – 2018

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Million

Market Coverage

Northern India, Southern India, Western India, Eastern India

Product/Service Segmentation

By Machine Type, By End-User and Region

Key Players

Sigcil India, Tripti Dry Ice, S.R Industrial Dry Ice, South India gases & Dry Ice, PR Traders, Dhillon Dairy & Ice Factory, Anand Ice Depot, Kavery Dry Ice, Manav Gases Pvt Ltd, Polarice Dry Ice, and Other Prominent Players


By Machine Type

Ø  Production Machine

Ø  Cleaning Machine

By End-user

Ø  Industrial Sector

Ø  Transportation

Ø  Food Processing

Ø  Healthcare

Ø  Commercial

Ø  Entertainment Industry

Ø  Others

By Region

Ø  Northern India

Ø  Southern India

Ø  Eastern India

Ø  Western India

 







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