According to the report by Expert Market Research (EMR), global helium market size reached a volume of 6,734.00 MMCF in 2023. Aided by the increasing demand for helium in various sectors and the unique properties that make helium indispensable in numerous applications, the market is projected to further grow at a CAGR of 3.6% between 2024 and 2032 to reach a volume of 9,257.87 MMCF by 2032.
Helium, a noble gas with the atomic number 2, is the second lightest element and is known for its low boiling point, non-reactivity, and unique physical properties. It plays a critical role in various sectors, including healthcare, electronics, aerospace, and manufacturing. Its applications range from cooling MRI machines and superconducting magnets to serving as a protective gas in welding and semiconductor manufacturing.
The development of new medical technologies and diagnostic tools also offers growth prospects for the market. One of the primary drivers of the helium market growth is the growing demand for MRI machines in the healthcare sector. Helium’s cryogenic properties make it essential for cooling the superconducting magnets used in MRI machines. With the increasing prevalence of chronic diseases and the rising demand for advanced diagnostic imaging, the healthcare sector’s reliance on helium is expected to continue growing. Additionally, the increasing focus on personalised medicine and advanced diagnostics is expected to boost helium consumption.
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The electronics sector also significantly contributes to the market growth. Helium is used in the manufacturing of semiconductors and optical fibres, where it provides an inert atmosphere to prevent contamination and enhance product quality. As the demand for advanced electronic devices and high-speed internet infrastructure rises, the consumption of helium in this sector is projected to increase.
The aerospace sector is another significant consumer of helium, utilising it for purging and pressurising fuel tanks, cooling rocket engines, and in cryogenics. The growing investments in space exploration and satellite launches are expected to bolster the demand for helium in the aerospace sector, consequently driving up the helium market share.
Technological advancements in helium extraction and recovery are enhancing the supply chain and meeting the increasing demand. Innovations in cryogenic technology have improved the efficiency of helium liquefaction and transportation, ensuring a stable supply of this critical gas.
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Additionally, the development of helium recycling and recovery systems is gaining traction. Sector that uses large quantities of helium, such as electronics and healthcare, are increasingly adopting helium recovery systems to reduce costs and minimize environmental impact. These systems capture and purify helium from industrial processes, allowing it to be reused.
As per the helium market analysis, North America holds a significant share of the market, driven by substantial production capacities and high demand from various sectors. The United States is one of the largest producers and consumers of helium, with extensive applications in healthcare, electronics, and aerospace.
In Europe, the helium market is experiencing steady growth, supported by the region’s advanced healthcare infrastructure and robust electronics industry. Countries such as Germany, France, and the United Kingdom are key contributors to the European helium market, driven by their strong industrial base and research activities.
The Asia-Pacific region is expected to witness the fastest growth in the market, fuelled by rapid industrialisation, urbanisation, and economic development. Countries such as China, Japan, and South Korea are investing heavily in healthcare, electronics, and aerospace sectors, driving the demand for helium. Additionally, the region’s growing semiconductor manufacturing capabilities are expected to further boost helium consumption.
Market Segmentation
The market can be divided based on the phase, application, end user, and region
Market Breakup by Phase
- Liquid
- Gas
Market Breakup by Application
- Breathing Mixes
- Cryogenics
- Leak Detection
- Pressurizing and Purging
- Welding
- Controlled Atmosphere
- Others
Market Breakup by End User
- Aerospace and Aircraft
- Electronics and Semiconductors
- Nuclear Power
- Healthcare
- Welding and Metal Fabrication
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global heliums market. Some of the major players explored in the report by Expert Market Research are as follows:
- Air Liquide
- Air Products and Chemicals Inc.
- Exxon Mobil Corporation
- Gazprom
- Gulf Cryo
- Iwatani Corporation
- Linde PLC
- TOTAL HELIUM LTD
- Messer SE & Co. KGaA
- Acail Group
- Taiyo Nippon Sanso Corporation
- HeliumOne
- Others
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