Faisal Masood


Master of Business Administration Executive

Faculty / School

Faculty of Business Administration (FBA)

Year of Award


Project Type

MBA Executive Research Project

Access Type

Restricted Access


Research use qualitative & quantitative research is done by evaluating the survey results and converts these into statistical form & gathering results through NPV, IRR and playback period of the project.

Executive Summary

Dry ice is a hard form of C02, comprising two oxygen atoms combined to a singular carbon atom. It is colorless, non-flammable, and somewhat acidic.

Below 5.12 atompressure and temperatures below -55.4 (-68.5 °F), C02 changes from a hard form to gaseous state directly. This process is called sublimation and the opposite process is known as deposition. This process occurs at -78.5 °C (-109.3 F).

The solidity of dry ice changes normally, in the range between about 1.4 and 1.6 g/cm3 (87 and 100 Ib/cu ft).Through sublimation to gas makes dry ice an efficient coolant, as it is colder than normal ice and leaves no remainder while changing the state.

Pakistan’s market for dry ice is estimated to be around 800 tons/year, 90-95% of which is produced by sugar plants through recovery of waste C02 which is not food grade. Remaining 5-10% is imported from Dubai or Thailand.

Main application of dry ice includes below segment;

1- Transport & distribution

2- Food Processing

3- Industrial Cleaning

4- Research

5- Farming

6- Engineering

7- Manufacturing and

8- Pharmaceuticals

In the lines of our corporate strategy and ambition of continuous growth for the organization through existing portfolio or introduction of new variants, the idea of study the feasibility of launching 100% food grade dry ice in Pakistani market was pitched by me at our planning session for 2020 couple of years ago. 100% food grade product is not being produced in Pakistan and the crux of the idea was to open new avenues of growth through diversification and add a derivative by developing its facility in Pakistan. After couple of sessions and initial work, I was asked to present a case in a Country Leadership Team Meeting where I got the final approval of perusing this opportunity and work on the project as Project Lead.

The purpose of the research is to identify whether dry ice production facility in Pakistan is feasible or not. This research was expanded to cover the dry ice needfor transportation & storage industry (fisheries, PIA, railways) which is biggest chunk the product. Manufacturing and Service Industry. Technical. Procurement and Business development people were contacted. Some enquiries from our existing customers were also incorporated in research; however, names of customers are kept confidential.

Secondary research was done by segmentation of the industry and identification of the volume needed for each of them through market survey and findings. Data gathering was the main activity in this process. Primary research was done by evaluating the survey results and converts these into statistical form and generating results through NPV, IRR and payback period of the project.

At the end we came to the conclusion on the basis of the research which showed that there is a good potential of dry ice in Pakistan and establishing the production plant will support Linde’s position as the major supplier of gases and equipment and also in getting first mover's advantage of producing food grade product in the market.

This research covered transportation & storage companies, government institutions (PIASc Fisheries), Process Plants (Lucky Cement, Attock Cement, and Service Shoes), some medical institutes (AKUH) and engineering (KSEW). However there is a huge potential in exploring Research & Scientific Applications, Entertainment, Civil Engineering, Farming and Agriculture as well as exports. Focus will be on these once we establish the facility and attain a substantial position in the local market.

Initial efforts will be more aggressive towards direct or indirect sales in local market starting from selected prospects mentioned in sample size in the report and then focus will be on international prospects after getting results from local customers. Technical sales and marketing team will assist business development team in developing new customers of local and international markets.



Available for download on Tuesday, December 31, 2030

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