Helium

Helium

Global Helium Market to Reach US$3.5 Billion by 2030

The global market for Helium estimated at US$2.5 Billion in the year 2023, is expected to reach US$3.5 Billion by 2030, growing at a CAGR of 5.1% over the analysis period 2023-2030. Cryogenics Application, one of the segments analyzed in the report, is expected to record a 6.8% CAGR and reach US$1.1 Billion by the end of the analysis period. Growth in the Welding Application segment is estimated at 4.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$652.5 Million While China is Forecast to Grow at 6.8% CAGR

The Helium market in the U.S. is estimated at US$652.5 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$504.6 Million by the year 2030 trailing a CAGR of 6.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.6% and 4.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.

Global Helium  Market - Key Trends & Drivers Summarized

Helium is a unique and vital element, known for its distinct properties of being the second lightest and second most abundant element in the observable universe. It is a colorless, odorless, tasteless, non-toxic, and inert gas, often found in natural gas reserves and extracted through a complex process of fractional distillation. Helium has several key applications across various industries due to its low boiling point, non-reactive nature, and thermal conductivity. In the medical field, helium is crucial for operating magnetic resonance imaging (MRI) machines, as it is used to cool the superconducting magnets to extremely low temperatures necessary for their operation. Additionally, helium is essential in scientific research, particularly in cryogenics and high-energy particle physics, where it enables the study of matter at very low temperatures.

Technological advancements and innovations have significantly expanded the uses of helium beyond traditional applications. In the aerospace and defense sectors, helium is employed in the pressurization and purging systems of rockets and spacecraft due to its inertness and ability to prevent explosions and contamination. The electronics industry utilizes helium in the manufacturing of semiconductors and fiber optics, as it provides an ideal environment for creating precise and high-quality components. Furthermore, helium`s unique properties make it indispensable for leak detection in high-vacuum systems and pipelines, ensuring the integrity and safety of critical infrastructure. The entertainment industry also relies on helium for inflating balloons and creating lighter-than-air displays, although this use is relatively minor compared to its industrial applications.

The growth in the helium market is driven by several factors. Technological advancements in healthcare, particularly the increasing demand for MRI machines, have significantly boosted the need for helium in medical applications. The expansion of the aerospace industry, with a growing number of space missions and satellite launches, has increased the demand for helium for pressurization and purging. Additionally, the rapid growth of the electronics industry, driven by the rising demand for semiconductors and fiber optics, has further stimulated market growth. The increasing focus on infrastructure safety and the need for advanced leak detection methods also contribute to the rising demand for helium. Moreover, the global shift towards clean energy and the development of fusion technology present new opportunities for helium applications. These factors collectively drive the robust growth of the helium market, highlighting its critical role in various high-tech and industrial sectors.

Select Competitors (Total 30 Featured) -

• Air Liquide SA
• Air Products and Chemicals, Inc.
• Airgas, Inc.
• Axcel Gases
• Iwatani Corporation
• Linde PLC
• Matheson Tri-Gas, Inc.
• Nexair LLC
• Renergen Limited
• Taiyo Nippon Sanso Corporation

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