The ‘Global Helium Market Size, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global helium market, assessing the market on the basis of its segments like phase, application, end user, and major regions.
Helium Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.60%
The growth of the global helium market is being driven by its widespread application across various industries. Helium gas, known for its inert nature and low boiling point, is majorly used as a cooling agent for various machinery. For instance, liquid helium is the most commonly used gas for cooling MRI machines. Additionally, helium has a similar boiling temperature as hydrogen, thus, it is also utilised in the aerospace industry as a pressurising agent in rocket propulsion systems.
The demand for helium globally is further anticipated to be bolstered by the growing demand for semiconductors across multiple sectors such as electricals and electronics, and automotives, among others. The inert nature of helium provides suitable environments for the manufacturing of semiconductors by preventing any unwanted reaction of silicon with other materials.
Furthermore, helium is also used in metal fabrication industry for providing inert environment for electrical welding. The inflating demand for metal sheets from industries such as industrial, construction, aerospace, manufacturing, and automotive, among others is further projected to push the growth of the helium market. Moreover, helium finds applications in the healthcare sector due to its biological inertness, neuroprotective nature, and low density. Helium is widely used in breath mixes for adjuvant therapies in treating ARDS, bronchitis, asthma, and COPD, among others.
Helium Industry Definition and Major Segments
A chemical element, Helium (He) belongs to the noble gas group of the periodic table. Helium, considered as the second-lightest element, is an odourless, tasteless gas that melts at a temperature of 268.9 °C (452 °F). It is the second most abundant gas in the universe. Helium gas is found in natural gas pockets in the earth’s surface and is extracted using fractional distillation.
On the basis of phase, the market is bifurcated into:
Based on application, the market is divided into:
• Breathing Mixes
• Leak Detection
• Pressurizing and Purging
• Controlled Atmosphere
On the basis of end user, the market is segmented into:
• Aerospace and Aircraft
• Nuclear Power
• Electronics and Semiconductors
• Welding and Metal Fabrication
The Helium market based on region is divided into:
• Asia Pacific
• North America
• Latin America
• Middle East and Africa
Helium Market Trends
The global helium market over the forecast period is anticipated to grow due to the significant presence of numerous helium manufacturing companies and the introduction of new technologies for the recovery of helium from natural gas by processes such as hybrid cryogenic adsorption, and membrane separation processes.
Regionally, North America is the largest producer of helium and the regional market for helium is being supported by the expansions of major market players like Air Liquide. The company completed an agreement with North American Helium for the supply of a helium purification solution that could be customised and made utilising the company’s cutting-edge membrane technology. The facility will assist North America Helium, which operates Canada’s biggest helium production facility, at its site in southwest Saskatchewan.
Furthermore, North America has the largest aerospace industry worldwide. The increasing research and development and space exploration activities are likely to propel the market for helium. For example, certain launchers, like Ariane, use helium to pressurise and purify the fuel tanks before launching satellites into orbit.
Key Market Players
The major players in the Global Helium Market are :
- Air Liquide SA
- Air Products and Chemicals, Inc
- Exxon Mobil Corporation
- Gulf Cryo
- Iwatani Corporation
- Linde PLC
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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