Helium Market Growth  2023-2030

Helium Market Growth  2023-2030

Oct 30, 2023

The Global Helium market size was valued at 1911.28 Million USD in 2022, increased from 1406.41 Million USD in 2018, and the market is forecasted to reach 2829.98 Million USD by 2029, growing at CAGR of 5.31% between 2023 and 2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

Helium, denoted by the chemical symbol He and atomic number 2, stands as a unique chemical element. This colorless, odorless, and tasteless noble gas takes its place among the inert gases on the periodic table. In the grand scheme of the universe, helium claims the status of being the second lightest element and holds the distinction of being the second most abundant, right after hydrogen. It comfortably resides in a gaseous form under standard temperature and pressure conditions, boasting the distinction of possessing the lowest boiling and melting points across the entire elemental spectrum.
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The major global manufacturers of Helium include: Exxon (US<, Linde (US, Au), Air Products (US), Air Liquide (Dz), Gazprom (Ru), PGNiG (Pl), and Qatargas (Qa), etc. In 2022, the world's top three vendors accounted for approximately 62% of the revenue.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Helium, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Helium.

The Helium market size, estimations, and forecasts are provided in terms of output/shipments (Million Cubic Meter) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Helium market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Helium manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

By Company

  • Qatargas (Qa)
  • Exxon (US)
  • Linde (US, Au)
  • Air Product (US)
  • Air Liquide (Dz)
  • Gazprom (Ru)
  • PGNiG (Pl)
  • Taiyo Nippon Sanso
  • Messer

Segment by Type

  • Liquid Helium
  • Gaseous Helium

Segment by Application

  • Cryogenics
  • Aerostatics
  • Semiconductor & Fiber Optics
  • Leak Detection & Gas Chromatography
  • Welding
  • Others

North America: The helium market in North America is projected to witness a Compound Annual Growth Rate (CAGR) of 4.2% during the period from 2022 to 2028. This growth can be attributed to the escalating demand for helium within the semiconductor and medical imaging sectors across the region. Helium's role as a cooling agent in the production of semiconductors and its vital role in MRI machines for high-resolution medical imaging are key drivers of this demand.

Europe: The European helium market is anticipated to experience a CAGR of 4.7% between 2022 and 2028. The driving force behind this growth is the increasing requirement for helium within the cryogenics and aerospace industries throughout the region. The extremely low boiling point of helium makes it indispensable for cryogenic applications, enabling the study of materials at ultra-low temperatures. Additionally, helium's use in pressurizing and purging fuel from rockets and its role in space exploration further contribute to the demand in the aerospace sector.

Asia Pacific: In the Asia Pacific region, the helium market is set to grow at the fastest CAGR of 5.2% from 2022 to 2028. This remarkable growth is propelled by the escalating demand for helium within the semiconductor and medical imaging industries. Helium's role in maintaining stable and controlled environments for semiconductor manufacturing processes, as well as its significance in providing cooling for MRI machines, fuels this demand. The growing technological and medical sectors in the Asia Pacific region contribute to the robust growth of the helium market.

Latin America: The Latin American helium market is predicted to grow at a CAGR of 4.0% between 2022 and 2028. The surge in demand for helium within the welding and medical imaging industries in this region is the primary driver of this growth. Helium's utilization in gas tungsten arc welding, which requires a stable and controlled environment, and its importance in medical imaging for diagnostics contribute to the increasing demand. The welding industry's reliance on helium's properties and the medical sector's need for high-quality imaging both contribute to the growth of the market.

Middle East & Africa: The Middle East & African helium market is expected to experience a CAGR of 3.8% from 2022 to 2028. This growth is attributed to the rising demand for helium within the oil & gas and medical imaging industries in the region. Helium's applications in providing cooling for oil and gas processes, as well as its importance in MRI machines, contribute to the demand. The region's significant oil and gas industry and the increasing focus on healthcare technologies both play a role in the growth of the helium market.

Production by Region

  • USA
  • Qatar
  • Algeria
  • Russia
  • Other Regions

Consumption by Region

  • North America
  • U.S.
  • Canada

  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • Southeast Asia
  • India
  • Australia

  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Russia
  • Rest of Europe

  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

  • Middle East and Africa
  • GCC Countries
  • Turkey
  • Rest of MEA

Increasing Demand for Helium in the Semiconductor Industry:

Undoubtedly, the semiconductor sector stands as one of the most significant consumers of helium. This inert gas finds extensive utilization within diverse semiconductor manufacturing processes, including etching, cleaning, and packaging. These processes are pivotal for the production of microchips and integrated circuits that power modern electronic devices. Notably, the escalating demand for advanced electronic devices, ranging from smartphones to artificial intelligence systems, has created a parallel surge in the demand for semiconductors. This, in turn, propels the demand for helium in the semiconductor industry, as its unique properties facilitate precision and efficiency in these intricate processes.
Increasing Demand for Helium in the Medical Imaging Industry:

Helium's role extends seamlessly into the realm of medical imaging. In particular, helium finds its place within indispensable medical imaging devices like Magnetic Resonance Imaging (MRI) machines and Computed Tomography (CT) scanners. The capability of helium to maintain extremely low temperatures is harnessed in MRI machines, where it cools the superconducting magnets essential for generating high-resolution images. As the importance of accurate medical diagnoses continues to grow, the demand for medical imaging technologies experiences a parallel surge. Consequently, the demand for helium in the medical imaging industry follows suit, supported by its critical role in ensuring the reliability and precision of these diagnostic tools.
Increasing Demand for Helium in the Aerospace Industry:

Within the aerospace industry, helium's versatility shines through its role as a coolant for various applications. From rocket engines to satellites, helium's capability to maintain stable and controlled temperatures is harnessed to enhance efficiency and safety. With a renewed global interest in space exploration, encompassing endeavors like satellite deployment, interplanetary exploration, and even space tourism, the aerospace industry is experiencing a remarkable resurgence. This, in turn, intensifies the demand for helium as its coolant properties are leveraged to optimize propulsion systems and ensure mission success.
Limited Supply of Helium:

The underpinning challenge of the helium market remains its status as a non-renewable resource. Derived primarily as a byproduct of natural gas extraction, helium is easily lost into the atmosphere during extraction and is challenging to capture. The finite nature of helium's availability casts a shadow over its widespread and sustained usage, prompting concerns about future supply constraints and the need for conservation efforts.
Rising Cost of Helium:

In recent years, the helium market has been confronted with the issue of rising costs. As the demand for helium continues to surge across industries, and its finite supply encounters constraints, market dynamics push helium prices upwards. This escalation in cost presents challenges for industries heavily reliant on helium, potentially affecting operational efficiency and economic viability.

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