Helium Market By Phase Type (Liquid, Gaseous), By Application (Cryogenics, Pressurizing and Purging, Welding, Controlled Atmosphere, Leak Detection, Breathing Mixture, Others), By End-Use Industry (Aerospace and Defense, Medical and Healthcare, Electrical

Helium Market By Phase Type (Liquid, Gaseous), By Application (Cryogenics, Pressurizing and Purging, Welding, Controlled Atmosphere, Leak Detection, Breathing Mixture, Others), By End-Use Industry (Aerospace and Defense, Medical and Healthcare, Electricals and Electronics, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global helium market was valued at $3.3 billion in 2022, and is projected to reach $4.9 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.

Helium, a colorless noble gas, is highly abundant in the universe, second only to hydrogen. Its unique properties, including a low boiling point and gaseous state at very low temperatures, make it valuable for applications requiring extreme cold environments. Furthermore, helium is non-flammable and chemically inert, making it unreactive from other substances in normal conditions.

Helium possesses several unique properties that make it valuable for various applications. It has the lowest boiling point of any element, which allows it to remain in a gaseous state at extremely low temperatures. It is lighter than air, which enables it to rise and float, making it ideal for filling balloons and airships.

Helium has numerous applications in scientific research and experimentation. Its low boiling point and inert nature make it a crucial coolant in cryogenics, enabling scientists to achieve extremely low temperatures required for various studies, such as superconductivity and quantum mechanics. Helium finds application in gas chromatography, a scientific method utilized for the analysis and separation of intricate mixtures in the fields of chemistry and biology.

Helium plays a vital role in medical and healthcare applications. As a breathing gas used to treat respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD), helium is frequently combined with oxygen. Helium's low density lowers airway resistance and makes it easier for patients to breathe. Helium is also used to cool the superconducting magnets in magnetic resonance imaging (MRI) scanners.

One of the most well-known uses of helium is in filling balloons and airships. Due to its lighter-than-air property, helium enables balloons to float effortlessly in the sky. The use of helium in balloons is not limited to recreational purposes but also extends to meteorological research, aerial photography, and scientific experiments that require elevated observations or data collection. Helium's unique properties contribute to breakthroughs in scientific research, including discoveries in quantum physics and enabling the development of advanced technologies such as superconductivity and MRI scanning.

On the basis of phase type, the liquid segment is the fastest-growing segment of the helium market in 2022. Liquid helium is a widely utilized cryogenic coolant due to its exceptional ability to reach incredibly low temperatures. With a boiling point of -268.93 degrees Celsius (-452 degrees Fahrenheit), it is an ideal choice for maintaining extreme cold conditions in various scientific research applications. Specifically, it plays a crucial role in fields like superconductivity, low-temperature physics, and materials science. Liquid helium is indispensable for cooling superconducting magnets, which are integral components in advanced technologies such as MRI machines and particle accelerators.

On the basis of application, the breathing mixture segment is the fastest-growing segment of the helium market in 2022. Breathing mixtures that include helium are commonly used in certain specialized applications, such as deep-sea diving and aerospace activities. The addition of helium to breathing mixtures serves specific purposes based on the properties of the gas. Helium is often mixed with oxygen to create a breathing mixture called heliox, which is used in deep-sea diving. When diving at great depths, the increased pressure can cause a condition called nitrogen narcosis, also known as rapture of the deep. To counteract this, helium is used to replace some or all of the nitrogen in the breathing mixture. Helium has a lower density and higher thermal conductivity than nitrogen, making it safer to use at extreme depths.

On the basis of the end-use industry, the others including automotive, metal fabrication, and others segment is the fastest-growing segment of the helium market in 2022.  Helium-filled tires can provide advantages such as decreased weight, enhanced fuel efficiency, and improved heat dispersion. Moreover, helium finds application as a shielding gas in specific welding methods like gas tungsten arc welding (GTAW) or tungsten inert gas (TIG) welding. In these techniques, helium is combined with other gases, such as argon, to generate the desired protective environment around the welding arc. By incorporating helium, these processes achieve enhanced arc stability, elevated heat transfer, and prevention of metal oxidation during welding.

By region, the Asia-Pacific is the fastest-growing region of the helium market in 2022. The Asia-Pacific region is a leading hub for research and development in the field of cryogenics and superconductivity. Helium plays a crucial role as a cryogenic coolant in a wide range of applications such as superconducting magnets, MRI machines, particle accelerators, and NMR spectrometers. These technologies have significant implications for scientific research, healthcare, and materials science.

In January 2021, the Lingang Economic District in China chose Fives Group to supply 13 Cryomec cryogenic centrifugal pumps for their upcoming air separation unit (ASU). The ASU is specifically designed to generate more than 2,000 tons of oxygen per day, highlighting the importance of cryogenics in large-scale industrial processes.

The major players operating in the global helium market include Air Liquide S.A., Air Products & Chemicals Inc., ExxonMobil Corporation, Gazprom PJSC, Gulf Cryo S.A.L., IACX Energy, Linde plc, Matheson Tri-Gas, Inc., Praxair, Inc., and Taiyo Nippon Sanso Corporation.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the helium market analysis from 2022 to 2032 to identify the prevailing helium market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the helium market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global helium market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Application

Cryogenics
Pressurizing and Purging
Welding
Controlled Atmosphere
Leak Detection
Breathing Mixture
Others

By End-Use Industry

Aerospace and Defense
Medical and Healthcare
Electricals and Electronics
Others

By Phase Type

Liquid
Gaseous

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Air Liquide S.A.
Air Products & Chemicals Inc.
ExxonMobil Corporation
Gazprom PJSC
Gulf Cryo S.A.L.
IACX Energy
Linde plc
Matheson Tri-Gas, Inc.
Praxair, Inc.
Taiyo Nippon Sanso Corporation

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