Helium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The helium market size was estimated to be 6,688 million cubic feet in 2020, and the market is projected to register a CAGR of around 4% during the forecast period (2021-2026).
However, due to the COVID-19 outbreak, the aerospace industry took a severe blow, which resulted in the contraction of the aerospace industry in recent times, which negatively affected the growth prospects of helium in aerospace applications. Moreover, aircraft manufacturing companies have also been witnessing a decline in the number of orders compared to previous years, with many aviation companies cutting down on their previous orders. For instance, in July 2020, Avolon canceled its additional 27 Boeing 737 MAX planes order after it already canceled about 75 of the jet orders in April, with the COVID-19 pandemic affecting its operations. Such trends may impact the new orders during the short and medium term as a result of changes in aviation companies’ investment plans. Similarly, the slowing down of R&D activities due to the economic slowdown and lockdowns due to the COVID 19 outbreak has negatively impacted the growth of the electronics and semiconductor industry in the short term, and thereby, the global helium market has been affected adversely.
Key HighlightsThe helium market is highly consolidated, with the top five players accounting for over 75% of the total market. The major players in the market include Air Liquide, Linde PLC, Matheson Tri-Gas Inc., Iwatani Corporation, and Messer Group, among others.
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