Global Helium Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Helium Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Helium is a rare gas. Helium, normally a colorless, odorless gas, is the only material that does not solidify under standard atmospheric pressure. Helium is the least reactive element. Helium is used primarily as a protective gas, as a working fluid in gas-cooled nuclear reactors, and as a cryogenic refrigerant. In addition, because it is less dense and more stable than air, helium can also be used as a buoyant gas.

Market Overview:

The latest research study on the global Helium market finds that the global Helium market reached a value of USD 5076.46 million in 2022. It’s expected that the market will achieve USD 6985.2 million by 2028, exhibiting a CAGR of 5.46% during the forecast period.

Overall demand reduction

The most obvious impact during COVID 19 will be a reduction in the demand for helium. Some applications of helium, such as party balloons and diving gases, will be particularly hard hit.
During the outbreak, people's consumption, travel, recreation behavior affected, as in many areas implemented a mandatory social alienation measures, party balloons demand fell sharply. Second, national economy also is limited by the outbreak, more strict entry and exit.

The supply chain has been severely impacted

Not only does Covid-19 reduce the demand for helium, but it also causes significant damage to the helium supply chain (this is particularly evident in countries that rely on imported helium). As China's economy has stalled, manufacturing and export activities have declined sharply, many outbound voyages (from China) have been canceled, and ports have become a bottleneck due to manpower shortages. This makes it extremely difficult for major helium suppliers to ship empty containers from China and back to Qatar and US sources for filling. In the case of low market demand, because suppliers are forced to compete for empty containers for refilling, the restrictions on container transportation also make it difficult to maintain continuity of supply

Market Drivers

Helium is widely used in production and life. The industries involved include aerospace, electronics and semiconductors, nuclear power, health care and welding and metal processing. Among them, the demand for liquid helium in medical equipment and devices is mainly driven by MRI and NMR machines use. During operation, the MRI scanner requires liquid helium to cool its superconducting magnet coil to a lower temperature.
In addition, the extremely low boiling point of helium makes it an option for low temperature experiments. Currently, for commercially available superconducting magnets used in NMR spectroscopy, helium is the only material that can be used to maintain the low temperature required to produce the superconducting effect. Secondly, the rapid development of electronics and semiconductors is also one of the important driving factors for the development of this market. Especially in the Asia-Pacific region, China, India, South Korea and Taiwan are the gathering places of major electronic product factories and foundry factories, and due to the large population base in the region, the growth of consumer demand has provided a strong downstream application market for the Helium market.

Market Restraints

Shortage of energy, lack of technology, high transportation costs
Helium is an important part of medical and aviation technology. Because helium is a very light gas, it must be captured quickly, otherwise it will float into space. Several recoverable methods include extraction from underground natural deposits, or from natural gas production that uses helium as a by-product. But for now, helium cannot be produced efficiently and economically. And helium resources are rapidly reduced due to the depletion of its most economical source (natural gas field).
In addition, the growth of the helium market is limited by the high cost of natural gas extraction and transportation, thus making this business a highly capital-intensive business. Since the boiling point of helium is the lowest of all elements, a special low-temperature container for transportation and transportation is required during transportation, so the logistics of transporting helium is very complicated and the cost is high. In addition, the storage of helium requires a complex storage tank, which must have a double-layer pressure vessel with multiple vacuum insulation layers and an external radiation shield cooled with liquid nitrogen to regulate the storage capacity. Energy shortage, Insufficient technology, high transportation costs and other issues are important reasons that hinder the development of this market.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Asia Pacific (36.1% in 2022).

Company Overview:

Linde is one of the major players operating in the Helium market, holding a share of 24.63% in 2023.

Linde

Linde is a leading global industrial gases and engineering company.

Exxon

Exxon Mobil Corporation operates petroleum and petrochemicals businesses on a worldwide basis. The Company operations include exploration and production of oil and gas, electric power generation, and coal and minerals operations. Exxon Mobil also manufactures and markets fuels, lubricants, and chemicals.

Segmentation Overview:

Among different product types, Gaseous Helium segment is anticipated to contribute the largest market share in 2028.

Application Overview:

In the Helium market, 35.38% of the total value was generated through the Healthcare segment by application in 2022.

Key Companies in the global Helium market covered in Chapter 3:

Linde
Air Products
Gulf Cryo
Exxon
Messer Group
Air Liquid
Gazprom
Matheson Tri-Gas

In Chapter 4 and Chapter 14.2, on the basis of types, the Helium market from 2018 to 2029 is primarily split into:

Liquid Helium
Gaseous Helium

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Helium market from 2018 to 2029 covers:

Aerospace and Aircraft
Electronics and Semiconductors
Nuclear Power
Healthcare
Welding and Metal Fabrication

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)