Inflating Opportunities: Navigating the Dynamic Helium Market for Success
Research Reports
Aug 14, 2023
Market Research Future Highlights
The helium market is a global market that involves the extraction, refining, and distribution of helium gas. Helium is a rare, non-renewable gas that is extracted from natural gas fields and stored in underground reservoirs. Helium has many unique properties, including being non-reactive, non-toxic, and has a low boiling point, which makes it useful in a variety of applications, such as MRI machines, semiconductors, welding, and scientific research.
Helium Market Size was valued at USD 20.8 billion in 2021. The helium market industry is projected to grow from USD 21.90 billion in 2022 to USD 31.44 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2022–2030).
Regional Analysis
The global helium market is segmented by region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is the largest market for helium, with the United States being the leading producer and supplier of helium in the world. The demand for helium in North America is driven by the healthcare sector, where it is used in MRI machines, as well as the electronics and semiconductor industries.
Europe is the second-largest market for helium, with demand primarily driven by the healthcare and electronics industries. Germany is the largest consumer of helium in Europe.
The Asia Pacific region is expected to see significant growth in the helium market due to increasing demand from the electronics and semiconductor industries, particularly in China and Japan.
Latin America and the Middle East & Africa regions are expected to see moderate growth in the helium market, with increasing demand from the healthcare and electronics industries.
Overall, the global helium market is expected to see steady growth in the coming years, with North America and Europe remaining the largest markets, while Asia Pacific emerges as a key growth market.
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Market Segmentation
The helium market can be segmented based on application and distribution channel:
Application: MRI machines, Semiconductor manufacturing, Welding and metal fabrication, Gas chromatography, Leak detection, Balloons and blimps, Others (scientific research, nuclear reactors, etc.)
Distribution channel: On-site production, Packaged distribution, Merchant liquid distribution
On-site production involves producing helium directly at the user’s facility. Packaged distribution involves supplying helium in cylinders or tanks to end-users. Merchant liquid distribution involves supplying liquid helium in bulk quantities to end users.
The demand for helium varies depending on the application and distribution channel. For example, the healthcare industry is a major consumer of helium for use in MRI machines, while the semiconductor industry uses helium in the manufacturing of microchips. On-site production is more commonly used in large-scale industries, while packaged distribution is more suitable for smaller-scale applications.
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Key Players
Some of the key players in the global helium market include Air Liquide SA, Air Products and Chemicals Inc., Linde PLC, Praxair Inc., Airgas Inc., Gazprom, RasGas Company Limited, ExxonMobil Corporation, and Buzwair Industrial Gases Factories.
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