According to the information that I found, Icy Hot products are made of menthol and methyl salicylate. The menthol stimulates nerve receptors, causing the user to feel cool, and then feel heat. The methyl salicylate is the analgesic ingredient that reduces the pain that the user is feeling. Those are the reasons why the pain goes away when you apply Icy Hot of any balm that contains similar ingredients.For more information you can click on the next link: