India Dry Ice Market Bwc20087
India Dry Ice Market Size, By Machine Type (Production Machine, Cleaning Machine) By Type (Pellets, Blocks, Slice, and Others); By End-User (Industrial Sector, Transportation, Food Processing, Healthcare, Commercial, Entertainment Industry, Others) and, By Region (Northern India, Southern India, Eastern India, Western India); Forecast to 2027 India Dry Ice Market – Industry Trends & Forecast Report 2027
- Published Date: July 2021
- Report ID: BWC20087
- Available Format: PDF
- Page: 123
Report OverviewDry Ice is a solid form of carbon dioxide and is used primarily as a cooling agent. Dry ice is an advantage over ice since it includes a lower temperature and does not leave a residue (other than incidental frost from moisture in the air). Dry ice, therefore, helps preserve frozen foods
India dry ice market is foreseen to draw promising growth. The market is projected to grow a CAGR of 4.7% during 2021-2027 (forecast period). Due to growth in the food processing and transportation sectors, dry ice suppliers are experiencing a lucrative market. India's dry ice market is primarily driven by the growing use of dry ice as a refrigerant in the transport, food, transportation, medical, and entertainment sectors. Additionally, perishable food products are transported globally through advanced refrigeration facilities to ensure they stay at the right temperature, which in turn, is propelling the growth of the India dry ice market,
India Dry Ice Overview:
Dry Ice is a solid form of carbon dioxide and is used primarily as a cooling agent. Dry ice is an advantage over ice since it includes a lower temperature and does not leave a residue (other than incidental frost from moisture in the air). Dry ice, therefore, helps preserve frozen foods where mechanical cooling is unavailable, It is commonly used to package items that need to remain frozen or cold, such as ice cream and biological samples. Furthermore, dry ice is also used to carbonate beverages, solidify oil spills and stop ice sculptures and ice walls from melting.
India Dry Ice Forecast and Trend
Effective Blasting Cleaning Method
Compared to other solvents, dry ice is safer and less harmful than destructive and aggressive solvents. This type of cleaning does not utilize water, therefore wastewater treatment is not necessary, as the dry ice pellets evaporate upon contact, leaving only the debris, which then is removed by a blasting process. The blaster cleaning method does not require recovery of water, cleaning up of solvents, or the containment of waste. All these properties of dry ice are the major factors contributing to the growth of the India dry ice market. Dry Ice blasting companies in India such as EPSCO India have stated that dry ice blasting is a better method over traditional cleaning methods, such as water and steam cleaning.
The Rising Demand for Dry Ice as a Refrigerant in Food and Transport Industry
Dry ice is considered a cost-effective product for preserving frozen food products. Dry ice has lower temperatures than water-based ice, hence it is in high demand for storage and transportation. The lowest temperature offered by dry ice is -78 degrees Celsius, while the lowest offered by regular water ice is -18 degrees Celsius. India's dry ice market is being driven by the growing interest in frozen foods for solidified nourishment, along with the usage of dry ice as a refrigerant in the delivery and food industry.
In addition, rising growth in the transportation industry is expected to positively influence the shipping of products, thereby generating significant revenue growth opportunities for India dry ice market. Over the last few years, India has seen an increase in the number of frozen food businesses. The dry ice market now has a plethora of local companies and home-based entrepreneurs to take advantage of. The key industry players in India’s frozen food market are ITC, MTR, MCcain, Kohinoor Foods, and others are prominent players. ITC reported that the company’s frozen food business has tripled since the COVID-19, resulting in a surge in the India dry ice market.
The Harmful effects of Dry Ice
In a room with inadequate ventilation, the dry ice eventually substitutes oxygenated air, causing the oxygen level to drop, resulting in death or suffocation, which hinders the growth of the dry ice market. Dry ice is much colder than regular water ice and can burn the skin, similar to frostbite. For example, storing dry ice in an airtight container requires precise handling. Carbon dioxide can expand and explode after a certain amount of time, which can harm the environment further impeding market growth for India dry ice market.
Impact of COVID-19 in the Industry
The COVID-19 has had a mixed impact on the India dry ice market. Dry ice finds its applications in diverse industries, such as transportation, medical, food and beverage, and others. The transportation and supply chain logistics industry was hit hard by the COVID-19 impact. The International Transport Forum reported a daily freight flow of 2 million tonnes during the lockdown, whereas there were 3 million tonnes daily before the lockdown. According to the report by International Transport Forum in India, only 40% of national permits trucks were plying on the road during the lockdown phase in the country.
However, due to India's role as the largest manufacturer of COVID-19 vaccine and as the country supplies the vaccines to many countries, dry ice demand in India witnessed a spiked. Thus, the market has undergone a mixed impact as a result of the Covid-19 induced pandemic.
India Dry Ice Market: Machine Type
Based on machine type, the dry ice market is segmented into production machines and cleaning machines. The cleaning machine segment dominated the market in 2020 with the highest market share as it allows filth to be cleansed even in difficult-to-clean conditions where cleaning by hand would be impossible. Dry ice cleaning also reduces labor expenses because it may be completed in significantly less time than traditional manual labor. Preventive maintenance and spot cleaning can be done more frequently without affecting efficiency. Dry ice cleaning also contributes to shorter downtime periods because the equipment can be washed hot and in-line. Because of the aforementioned considerations, industrialists and multinational corporations (MNCs) are opting for dry ice cleaning, which in turn is driving up demand for cleaning machines.
Source: BlueWeave Consulting
India Dry Ice Market: By Type
The India dry ice market is categorized into pellets, blocks, slices, and others on the basis of type. Among these, the pellets segment dominates the India dry ice market with the largest market share. The pellet form of dry ice is high in density. Cylindrical dry ice pellets are designed for application in the food and beverage industry and foodstuff processing as cylindrical dry ice pellets offer food-grade quality and safety, which is critical for food items. Furthermore, these small pellets are only the size of rice grains, making them ideal for smaller-scale applications or one-time storage or delivery, which further influences the India dry ice market. Many dry ice blasting companies reported the use of rice size pellets for blast cleaning procedures as they are effective.
India Dry Ice Market: End-User
Based on end-users, the dry ice market is fragmented into the industrial sector, transportation, food processing, healthcare, commercial, entertainment industry, and others. The rising adoption of blast cleaning in various industrial applications is a significant determinant responsible for the growth of the industrial segment of the India dry ice market. As a result, the industrial sector held the largest market share in 2020. Dry ice is used in industrial cleaning to remove pathogenic microbes as it is a non-corrosive and non-hazardous, and cost-effective solution that can clean unreachable places.
India Dry Ice Market: Regional Insights
Based on the region, the India dry ice market is categorized into Eastern India, Northern India, Southern India, and Western India. The Western Region of the country held the maximum market share in 2020 followed by Northern India. Western India and Northern India are also likely to dominate the Indian dry ice market over the forecast period. The growth of the entertainment industry in both regions is fueling the market's expansion. Furthermore, the rise in demand for dry ice in the industrial sector, transportation, and health care is also likely to drive the growth of the dry ice market in these regions during the forecast period.
The key players in the India 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. The prominent market players are expanding their presence in the market by implementing various innovations and embracing new technology. Additionally, the competitors compete based on the given product quality and the new and cost-effective manufacturing technique, which can bring them a higher yield and optimize the process for more and better output.
In January 2021, Pluss Technology launched a special packaging box for the supply and logistics of vaccines. The technology of the box uses dry ice for keeping the temperature in control for maintaining the quality of vaccines.
In November 2020, The Air Water Group announced its plans of promoting a new functional materials development project, which is aimed at creating new value through close collaboration that it has underscored with a “realignment and integration” strategy for pooling technologies, products, and ideas from both inside and outside of the group.
Scope of the Report
|Years Considered||Historical data – 2017-2020|
|Base Year – 2020|
|Forecast – 2021 – 2027|
|Facts Covered||Revenue in USD Million|
|Market Coverage||Eastern India, Northern India, Southern India, Western India|
By Machine Type
Ø Production Machine
Ø Cleaning Machine
By End-User Industry
Ø Industrial Sector
Ø Food Processing
Ø Entertainment Industry
Ø Eastern India
Ø Northern India
Ø Southern India
Ø Western India
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Sources
2.2. Quantitative Research
2.2.1. Primary & Secondary Sources
2.3. Breakdown of Primary Research Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Industry Participants
2.5. Market Size Estimation
2.6. Assumption for the Study
2.7. Market Breakdown & Data Triangulation
3. Executive Summary
4. India Dry Ice Market - Industry Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.3. Recent Developments/technological Advancement
4.4. Regulatory Insights
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Intensity of Rivalry
5. India Dry Ice Market Overview
5.1. Market Size & Forecast, 2017-2027
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Machine Type
22.214.171.124. Production Machine
126.96.36.199. Cleaning Machine
5.2.2. By Type
5.2.3. By End User
188.8.131.52. Industrial Sector
184.108.40.206. Food Processing
220.127.116.11. Entertainment Industry
5.2.4. By Region
18.104.22.168. Eastern India
22.214.171.124. Northern India
126.96.36.199. Southern India
188.8.131.52. Western India
6. Competitive Landscape
6.1. List of Key Players and Their Offerings
6.2. Market/Ranking Share Analysis.
6.3. Competitive Benchmarking, By Operating Parameters
6.4. Competitive Benchmarking, By Product
7. Impact of COVID on India Dry Ice Market
7.1. Impact On Overall Dry Ice Industry
7.2. Impact On Supply Chain of Dry Ice
7.2.1. Price Variation of Key Raw Materials
7.2.2. Production Shutdown
7.3. Impact On Market Demand of Dry Ice
7.3.1. Impact Due to Restrictions/Lockdown
7.3.2. Consumer Sentiments
7.4. Impact On Pricing of Dry Ice
8. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
8.1. Sigcil India
8.2. Tripti Dry Ice
8.3. Yara International
8.4. S.R Industrial Dry Ice
8.5. South India gases & Dry Ice
8.6. PR Traders
8.7. Dhillon Dairy & Ice Factory
8.8. Anand Ice Depot
8.9. Kavery Dry Ice
8.10. Manav Gases Pvt Ltd
8.11. Polarice Dry Ice
8.12. Other Prominent Players
9. Strategic Recommendation
*Financial details of unlisted companies will be available as per data availability in final deliverable
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
By Machine Type
- Production Machine
- Cleaning Machine
By End-User Industry
- Industrial Sector
- Food Processing
- Entertainment Industry
- Eastern India
- Northern India
- Southern India
- Western India
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