PUBLISHER: The Business Research Company | PRODUCT CODE: 1810714
PUBLISHER: The Business Research Company | PRODUCT CODE: 1810714
Solid carbon dioxide, commonly called dry ice, is the solid state of carbon dioxide. It sublimates directly from solid to gas at -78.5°C without passing through a liquid phase. Dry ice is mainly used as a cooling agent to preserve perishable goods during transport, particularly where mechanical refrigeration is unavailable. It is also employed to produce fog effects in entertainment and for industrial cleaning purposes.
The main categories of solid carbon dioxide include food grade, industrial grade, pharmaceutical grade, technical grade, and others. Food-grade solid carbon dioxide meets safety standards for direct or indirect contact with food. Production methods consist of commercial manufacturing, in-situ generation, and recycling processes. Distribution channels include direct sales, distributors, online retail, and wholesale. Its applications cover food preservation, shipping and transportation, blast freezing, beverage carbonation, special effects in entertainment, industrial cooling, and cryogenic uses, serving end users in the food and beverage industry, healthcare, logistics and transportation, entertainment and events, and manufacturing sectors.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The intensifying U.S. tariffs and escalating trade tensions in spring 2025 are expected to have a significant impact on the chemicals sector, which is bearing a disproportionate burden, particularly from tariffs on petrochemicals and intermediates, where affordable domestic substitutes are often unavailable. Producers of specialty chemicals, heavily dependent on Chinese raw materials, are experiencing production disruptions. At the same time, fertilizer manufacturers are seeing profit margins eroded due to tariffs on phosphate imports. In response, companies are ramping up R&D into bio-based alternatives, forming procurement alliances to consolidate buying power, and shifting production to tariff-neutral nations such as Saudi Arabia.
The solid carbon dioxide market research report is one of a series of new reports from The Business Research Company that provides solid carbon dioxide market statistics, including the solid carbon dioxide industry's global market size, regional shares, competitors with the solid carbon dioxide market share, detailed solid carbon dioxide market segments, market trends and opportunities, and any further data you may need to thrive in the solid carbon dioxide market. This solid carbon dioxide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The solid carbon dioxide market size has grown strongly in recent years. It will grow from $1.27 billion in 2024 to $1.36 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth during the historic period can be attributed to the expanding use in industrial cleaning, the increasing need for transporting temperature-sensitive biological samples, rising demand in the aerospace and aviation sectors, growing popularity of portable dry ice refrigeration, and greater adoption in chemical manufacturing processes.
The solid carbon dioxide market size is expected to see strong growth in the next few years. It will grow to $1.78 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth projected for the forecast period can be attributed to the increasing demand for cold chain logistics, expanding use in vaccine storage and transportation, growing preference for dry ice in e-commerce grocery deliveries, rising applications in the meat and seafood packaging industry, and heightened demand from the entertainment sector. Major trends during this period include advancements in dry ice production equipment, development of automated dry ice pelletizers and block machines, integration of IoT-enabled cold chain monitoring systems, technology-driven innovations in dry ice blasting systems, and improvements in insulated packaging materials.
The growth of the solid carbon dioxide market is expected to be driven by the rising production of beverages and food. Beverage and food production involves the industrial transformation of raw ingredients into packaged consumable products for consumers. This production is increasing due to the growing global population, which creates higher demand for readily available and sufficient food and drink products. Solid carbon dioxide plays a critical role in beverage and food production by allowing precise temperature control and carbonation, which are vital for processing and packaging. It also helps maintain product quality and safety by preserving freshness and extending shelf life during storage and transportation. For example, according to Agriculture and Agri-Food Canada, a Canadian government department, exports of processed food and beverage products reached $54.3 billion in 2022, representing a 14.1% increase compared to 2021. As a result, the expanding beverage and food production sector is boosting the solid carbon dioxide market.
Key companies in the solid carbon dioxide market are focusing on developing innovative products such as dry ice blasters that prioritize efficiency, ease of use, and environmental sustainability. A dry ice blaster is a cleaning tool that uses compressed air to accelerate dry ice pellets (solid carbon dioxide) at high speed to clean surfaces effectively. For instance, in July 2023, Cold Jet LLC, a US-based machinery company, introduced the IceRocket dry ice blaster, a professional-grade, entry-level dry ice blasting machine. It offers aggressive yet non-abrasive cleaning using dry ice pellets, minimizing downtime and improving throughput without damaging surfaces or producing secondary waste. Its user-friendly design is well-suited for efficient and eco-friendly cleaning across various industries.
In February 2022, Arctic Glacier LLC, a US-based manufacturer, acquired Brookline Ice Company for an undisclosed sum. This acquisition allows Arctic Glacier to expand its production and distribution capabilities in the New England region, serve a wider customer base, and strengthen its leadership as a top provider of premium packaged ice and dry ice, including solid carbon dioxide. Brookline Ice Company is a US-based firm specializing in the production and distribution of dry ice products.
Major players in the solid carbon dioxide market are Linde plc, Air Liquide Group, Air Products and Chemicals Inc., Matheson Tri-Gas Inc., BOC Ltd., Gulf Cryo Holding, Continental Carbonic Products Inc., Bhavani Enterprise, Southern Industrial Gas Sdn Bhd, SICGIL Industrial Gases Limited, Coregas Pty Ltd., Axcel Industrial Gases, Bathinda Industrial Gases Pvt. Ltd., Universal Industrial Gas Inc., BOSCO India Pvt. Ltd., Sri Venkateswara Carbonic Gases Private Limited, Iwatani Corporation, Panki Oxygen Pvt. Ltd., FreezeTech Innovations Pvt. Ltd., Niketa Ice Blaast Pvt. Ltd., Shivam Oxygen Pvt Ltd.
North America was the largest region in the solid carbon dioxide market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in solid carbon dioxide report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the solid carbon dioxide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The solid carbon dioxide market consists of sales of refrigeration and cooling packs, dry ice pellets, blocks, slices, and customized forms. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Solid Carbon Dioxide Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on solid carbon dioxide market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for solid carbon dioxide ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The solid carbon dioxide market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.