Helium Market Size, Share & Industry Analysis, By Type (Gas, Liquid), By Application (Cryogenics, Semiconductor & Fibre Optics, Leak Detection, Welding, Others)Others and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Helium is a non-toxic, tasteless, colorless, inert, monoatomic, and the first noble gas in the periodic table. Having atomic number 2, it is obtained after its separation from natural gas. This process is carried out using a cryogenic piping system, in which the natural gas is pressurized and passed through a sieve. During this, the natural gas is separated from helium and only the crude helium remains. Helium is majorly used in electronics in semiconductor devices. In the healthcare systems, it is utilized for treating emphysema, asthma and other conditions. It also finds applications in MRI and NMR technology process as a coolant. Helium also finds applications in the aerospace and defense sectors. This growing adoption of helium will certainly boost the market growth during the forecast period.
Based on its types, the global helium market can be segmented into liquids and gas. The utilization of gas helium in recent years has been on the rise with increasing adoption in various end-use segments. Based on its application, the global helium market can be segmented into cryogenics, semiconductors and fibers, leak detection, welding and others. The growing application of helium in pressurized services and electronics will fuel the sieve of cryogenics and semiconductors during the forecast period.
Key Market Driver -
Growing demand from semiconductor and electronics industry
Key Market Restraint -
Stringent government regulations and high cost of extraction
Advancements brought in the electronic industry like the led screen displays are fuelling the demand for helium. Also, the growing healthcare industry has boosted the helium demand in various regions. These factors together will drive the growth of the helium market during the given forecast period.
Key market restraint for the global helium market is the high cost of extraction involved for helium. The other costs of transportation and regulations regarding the storage of helium can hinder the market growth.
Key Players Covered:
Key players operating in the global helium market are Air Liquide, Linde, Taiyo Nippon Sanso, Air Products, Praxair, Inc, Axcel Gases, Messer Group, US Gas, nexAir, LLC, Qatargas, The Southern Gas Limited and Weil Group.
Regional Analysis:
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The global helium market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Electronics and semiconductor market in the Asia Pacific has grown immensely owing to the growth in population and increased income that has resulted in sales of electronics to rise at an exponential rate. Therefore, Asia Pacific holds the maximum opportunities for helium market growth. Following the Asia Pacific, Europe and North America are the other major markets for helium. The major application of helium in these regions is the cryogenics and the healthcare industry. The healthcare industry in recent years has been one of the prolific users of helium for varied new technologies. The market for helium occupies a small share in other regions that include Latin America and Middle East & Africa but during the given forecast period, it is anticipated to be more dominant.
Segmentation
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Key Industry Developments
- In January 2020, Tumbleweed Midstream announced the acquisition of the Ladder Creek helium plant and gathering system from DCP Midstream. The plant is located west of Cheyenne Wells, Colorado. The helium produced in this region has high helium content with an average concentration of about 3 percent.
- In October 2019, NASA awarded a contract to Air Products for the supply of helium for its space projects. As said by NASA the contract with Air Products began Oct. 1 and runs two years, followed by three one-year options that would extend the deal to Sept. 30, 2024. The value of the contract stands at USD 168 million.
- Ongoing
- 2023
- 2019-2022
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