Helium Market Outlook 2031
The global helium market size was at USD 21.90 Billion in 2022 and is to reach USD 34.86 Billion by 2031, expanding at a robust CAGR 5.3% during the forecast period, 2023-2031. The growth of the market is attributed to increased use of helium in the electronics and semiconductor industries, as well as in the healthcare business.
Helium is the second most plentiful element. It is usually trapped in underground natural gas bunkers and can be recovered commercially using a fractional distillation technique. Helium is distributed as a gas at ambient temperature or as a liquid at extremely low temperatures after reaching the appropriate purity.
Commonly for small-scale clients, helium is often supplied in unvented, pressurized tanks drawn by vehicles and tractors and for large-scale consumers it is transferred by pipes from nearby processing plants. Due to the quick speed of innovation, technological improvement, and R&D operations in the electronics sector, there is a significant demand for contemporary electronic devices.
In the medical profession, helium has a wide range of applications. Because liquid helium can reach temperatures of -269° C, it is an excellent choice for cooling MRI magnets. Furthermore, helium is used to check breathing. It plays an important role in the treatment of emphysema, asthma, and other respiratory problems.
Helium Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for helium in the healthcare sector is projected to boost the market during the forecast period.
- Growing space tourism is anticipated to drive the market in the coming years.
- Rapid growth of the consumer electronics industry is the main factor driving the market.
- Rising demand for nuclear power is expected to fuel the market.
- Increasing investment in helium commodity is projected to fuel the market during the forecast period.
- High cost of the extraction process is expected to hinder the market growth.
- Stringent government regulations act as major challenges that can hamper the market growth during the forecast period.
- Technological advancement gas storage and transportation techniques are expected to create immense opportunities for the market players.
Scope of Helium Market Report
The report on the global helium market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Helium Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
End-user Industries (Nuclear Power, Healthcare, Welding & Metal Fabrication, Aerospace & Aircraft, Electronics & Semiconductors, and Others), Applications (Leak Detection, Breathing Mixes, Cryogenics, Pressurizing & Purging, Welding, Controlled Atmosphere, and Others), Phases (Liquid and Gas)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Air Products and Chemicals Inc.; Iwatani Corporation; Air Liquide; Linde Plc; Matheson Tri-Gas Inc.
Helium Market Segment Insights
End-user Segment Analysis
Based on end-user industries, the helium market is divided into nuclear power, healthcare, welding & metal fabrication, aerospace & aircraft, electronics & semiconductors, and others. The healthcare segment is expected to constitute a key share of the market during the forecast period owing to increasing healthcare spending and wide usage of combination of oxygen and helium is used to treat acute and chronic respiratory illnesses.
Applications Segment Analysis
On the basis of applications, the helium market is segmented into leak detection, breathing mixes, cryogenics, pressurizing & purging, welding, controlled atmosphere, and others. The cryogenics segment is expected to represent a key share of the market in the coming years due to no substitute for helium in cryogenic helium applications.
Phases Segment Analysis
In terms of phases, the helium market is bifurcated into liquid and gas. The gas segment is expected to represent a key share of the market during the forecast period owing to increasing usage in aircrafts also applications in metal welding.
On the basis of regions, the helium market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during forecast period. The regional market growth can be attributed to developments in healthcare sector, growth in number of research and development facilities in aerospace industry, and rising demand for customer electronic.
The global helium market has been segmented on the basis of
- Nuclear Power
- Welding & Metal Fabrication
- Aerospace & Aircraft
- Electronics & Semiconductors
- Leak Detection
- Breathing Mixes
- Pressurizing & Purging
- Welding, Controlled Atmosphere
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the helium market include Air Products and Chemicals Inc.; Iwatani Corporation; Air Liquide; Linde Plc; Matheson Tri-Gas Inc. Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,
- In March 2019, Linde AG’s gas in North America as well as Linde and Praxair's commercial activity in South America acquired by Messer.