Global Cooling Bricks Market Size to Grow At 7.01% CAGR from 2023 to 2030

 Global Cooling Bricks Market Analysis (2023 - 2030)

As per our research report, the global Cooling Bricks Market size is estimated to be growing at a CAGR of 7.01% from 2023 to 2030.

When transporting or storing items, cooling bricks work effectively to maintain the temperature of the thing. Although cooling bricks may be more effective for longer periods, they are not a greener option and present safety issues. Because they are easy to use, reusable, and more ecologically friendly, ice foam blocks are a popular alternative for usage at home.

The COVID-19 epidemic has raised the demand for cooling blocks on a global scale. The need for cooling bricks has lately expanded significantly as a result of the necessity that COVID-19 vaccinations be administered and kept at extremely low temperatures. The pharmaceutical industry's increasing production of vaccines has led to an increase in demand for cooling blocks, which has benefitted the market. Due to supply chain and manufacturing process interruptions brought on by the epidemic, cooling bricks cannot be made due to a lack of raw materials, which has a detrimental impact on the market. Due to supply chain disruptions brought on by the escalating demand for these products, customers must now deal with higher pricing and longer lead times. Additionally, the pandemic has changed consumer preferences, leading them to favor more sustainable and ecologically friendly packaging solutions. This might have a long-term negative impact on the market for cooling blocks.

The growing demand from the pharmaceutical sector is driving the market for cooling bricks worldwide. To guarantee the effectiveness and safety of pharmaceutical products during transportation, cooling bricks are employed to maintain the cold chain. The aging population, the incidence of chronic illnesses, the demand for pharmaceutical items, and the demand for cooling bricks have all grown. The COVID-19 pandemic has increased demand for drugs and vaccinations, which is good for cooling brick markets.

The global market for cooling bricks is being significantly boosted by the expansion of the food and beverage sector. Cooling bricks are often used in the transportation and storage of food and beverage goods due to their ability to maintain a low temperature and increase the shelf life of food products. As the food and beverage industry grows, particularly in emerging nations, there is an increase in demand for cooling bricks. Another element fueling the industry's growth is an increase in consumer demand for chilled and frozen food goods. The need for cooling blocks, which are used to keep food goods at the proper temperature while being transported, has surged as a result of the popularity of online shopping and home delivery services.

Due to increased environmental concerns, the worldwide market for cooling bricks is currently experiencing significant difficulties. The primary component of cooling brick is phenolic foam, which is not biodegradable and takes hundreds of years to degrade. Alternatives to phenolic foam packing are becoming popular as sustainability and environmental friendliness gain importance. Cooling bricks must be transported and stored using a lot of energy, which may increase greenhouse gas emissions. Therefore, the market demands more ecologically friendly and sustainable packaging options.

The expansion of the healthcare industry has created a huge market potential for cooling bricks globally. Due to the growth of biotechnology and medical research, as well as the increased demand for pharmaceutical products, temperature-controlled packaging solutions are becoming more and more essential. Cooling bricks can be used to transport and store medical and laboratory goods that need to be kept at low temperatures. The development of the healthcare industry, particularly in emerging nations, has substantially aided the market's growth and expansion.

KEY MARKET INSIGHTS: 

• Based on the type the reusable sector is anticipated to have a larger market share. Due to its affordability and advantages for sustainability, which include lowering expenses over time and reducing waste. the disposable market is the fastest-growing application where hygiene is an issue.

• Based on the application, it is predicted that the pharmaceutical industry would hold the largest market share because of the rising demand for temperature-controlled packaging for the transportation and storage of drugs, vaccines, and other pharmaceutical items.  It is also projected that the medical and healthcare industry will have a sharp surge in growth due to the increased demand for medical supplies and equipment that must be kept at specified temperatures.

• Based on the region, The Asia-Pacific is predicted to hold the greatest market share, the existence of significant pharmaceutical and healthcare organizations, and the rising need for environmentally friendly packaging options in the region. North America has the leading market for Cooling Bricks worldwide.

• Companies playing a leading role in the global Cooling Bricks market profiled in this report are Arctic Ice LLC, Bent Grass Concepts, Cryopak, Custom Cold Packs, GVS International, Navagen Products Pvt. Ltd.

Global Cooling Bricks Market Segmentation:

By Type:

• Reusable

• Disposable

By Application:

• Pharmaceuticals

• Medical and Healthcare

• Consumer Goods

• Food Industry

• Others

By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East and Africa

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