Global Helium Market Size to Grow at a CAGR of 3.60% in the Forecast Period of 2023-2028
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.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): 6500 MMCF
• Forecast CAGR (2023-2028): 3.60%
• Forecast Market Size (2028): 7400 MMCF
The development of efficient storage and transport methods for gases and the growing usage of helium in the electronic industry is driving the growth of the global helium market. Rising disposable incomes of the population and heavy investments in the research and development of helium have positively impacted market growth. The demand for helium from the healthcare sector is likely to increase in the coming years owing to the wide applications of helium gas in medical technologies like MRI and NMR as a coolant.
The electronics and semiconductors applications of helium are also likely to increase in the forecast period due to the rising usage of helium for creating an ideal environment for chemical reactions in the manufacturing process of semiconductors. The high heat conductivity property of helium makes it an ideal gas for welding materials, which is generating lucrative opportunities for the growth of the helium market.
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Helium is also facing a surging demand in the automotive industry, as it is commonly deployed for inflating safety airbags, due to the rising unfortunate incidences of road accidents. Besides, helium is also increasingly being used in the aerospace and aircraft sector for space flight operations and manufacturing surveillance balloons, which is contributing significantly to the growth of the global helium market.
Helium Industry Definition and Major Segments
Helium is an inert gas which is odourless, colourless, and tasteless, and the second lightest element on the periodic table. It is used as an advanced industrial material with excellent optical transparency, after it is obtained after separation from natural gas. Helium is extremely durable and has many useful properties like high thermal conductivity and low boiling point, which justifies its wide applications in various industries.
On the basis of phase, the market is bifurcated into:
Based on application, the market is classified into:
• Breathing Mixes
• Leak Detection
• Pressurizing and Purging
• Controlled Atmosphere
On the basis of end user, the market is segmented into:
• Aerospace and Aircraft
• Electronics and Semiconductors
• Nuclear Power
• Welding and Metal Fabrication
Based on region, the market is divided into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Helium Market Trends
The rising penetration of smartphones and internet has supported the growth of the global helium market, in line with its vast applications as a carrier and dilutant gas. The prevailing use of helium in adjunct therapy owing to the growing health problems like bronchitis and asthma, coupled with the growing adoption of helium leak detectors are key trends observed in this market. The increasing trend of underwater exploration and deep-sea diving is further generating the demand for helium and oxygen cylinders, which prevent decompression sickness.
Rapid digitalisation and the deployment of helium gas lasers by a number of supermarkets to scan product barcodes and make the process of billing easy and convenient, has further supported the growth of this market. The high ionisation property of helium is leading to its surging demand in the metal fabrication industry, which is likely to expand the helium market. Furthermore, the ability of helium to produce auditory sensations is promoting its usage in global positioning systems (GPS), enhancing the scope of the market of helium.
Key Market Players
The major players in the global helium market report are Air Liquide, Air Products and Chemicals Inc., Exxon Mobil Corporation, Gazprom, Gulf Cryo, Iwatani Corporation, Linde PLC, TOTAL HELIUM LTD, Messer SE & Co. KGaA, Acail Group, Taiyo Nippon Sanso Corporation, and HeliumOne, among others. 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 analyses 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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