Helium Global Market Report 2024

The helium market size has grown strongly in recent years. It will grow from $4.81 billion in 2023 to $5.22 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historical period can be ascribed to robust economic expansion in emerging markets, a rising demand for chemical products, and an increasing need for bio-based dispersants.

The helium market size is expected to see strong growth in the next few years. It will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be credited to government support, advancements in polymerization techniques, an upsurge in the demand for water-based dispersants, and the escalation of urbanization. Major trends expected in the forecast period encompass helium manufacturers embracing IoT technology, the adoption of helium-filled hard drive technology, an augmentation in production capacity, product innovation, and engagements in partnerships and collaborations.

The growth of the helium market is anticipated to be fueled by the increasing demand from the healthcare sector. Helium, with its unique properties such as inertness, non-reactivity with other elements, non-corrosiveness, and non-flammability, is extensively utilized in various medical diagnostic equipment. It finds applications in the healthcare industry, including adjunct therapy in conditions such as asthma exacerbation, ARDS, croup, COPD, and bronchiolitis. Additionally, helium is employed in magnetic resonance imaging (MRI) devices to regulate powerful magnets, facilitating the monitoring of various conditions within the abdominal, chest, and pelvic areas, as well as aiding in pregnancy diagnosis.

The expansion of the electronics and semiconductor industry is poised to contribute to the helium market's growth. This industry encompasses the design, manufacturing, and distribution of electronic components, integrated circuits, and related technologies, catering to sectors such as consumer electronics, telecommunications, automotive, and industrial applications. Helium plays a crucial role in activities such as temperature management, maintenance of cleanroom environments, quality control, optical fiber manufacturing, and analytical equipment within the electronics and semiconductor industries. The increasing reliance on helium within these sectors drives the expansion of the helium market. For instance, in February 2022, the Semiconductor Industry Association reported that the global semiconductor industry achieved record-high annual sales of $555.9 billion in 2021, marking a substantial increase of 26.2% compared to the previous year's total of $440.4 billion. Consequently, the growth of the electronics and semiconductor industry is a key driver for the helium market.

The depletion of existing helium supply sources, particularly within the US Bureau of Land Management’s (BLM) system, is prompting industrial gas companies and distributors to explore alternative helium supply sources, such as the production of helium from non-hydrocarbon sources. Helium production from non-hydrocarbon sources involves the generation and sale of helium as either the primary or one of the key revenue streams. For instance, during the Global Helium Summit, IACX Energy’s CEO, Rex Canon, highlighted the potential of developing gas fields with helium content lower than 0.6% for the production and sale of helium as a secondary product, similar to the commercialization of carbon dioxide. This approach becomes more relevant in the face of declining BLM supplies.

Major companies within the helium industry are investing in research and development activities focused on helium recycling. Helium recycling involves the collection, purification, and reuse of helium gas, typically sourced from industrial processes where helium is released or vented. For example, the Max Planck Institute for Nuclear Physics, a Germany-based research institute, introduced an advanced helium recycling plant in September 2023, operational since 2022. This facility efficiently captures and recycles helium gas that was previously released into the atmosphere, covering approximately 80% of the institute's helium needs and contributing to resource conservation.

In September 2023, Air Water America Inc., a US-based chemical manufacturing company, completed the acquisition of American Gas Products LLC for an undisclosed amount. This strategic acquisition has expanded Air Water America Inc.'s helium supply capabilities, increased market share, and diversified its offerings in the helium and industrial gas markets. American Gas Products LLC, a US-based industrial gas supplier, specializes in providing helium gas, propane, medical gases, industrial gases, and welding products.


Major companies operating in the helium market report are Linde PLC, Air Products and Chemicals, Inc., Nippon Sanso Holdings Corporation, Air Liquide S.A, Iwatani Corporation, Messer Group GmbH, Qatargas Operating Company Limited, Gulf Cryo, Air Water Inc., Axcel Gases, Nippon Helium Inc., Taiyo Nippon Sanso Corporation, The Linde Group Air Products, Chemicals Inc., Anhui Clean Energy Co., Ltd., Chengdu Taiyu Industrial Gases Co., Ltd., Hubei Daly LPG Cylinder Manufacturer Co., Ltd., Jiangsu Hongren Special Gas Co., Ltd., Qingdao Baigong Industrial and Trading Co., Ltd., Air Products Italia S.r.l, Basi Schoberl GmbH & Co. KG, Riessner-Gase GmbH, RealGas LLC, Cylinders Holding A.S, Cryoin Engineering Ltd., Galo Gas, Elme Messer K, Matheson Tri-Gas Inc., ExxonMobil, Chevron, ConocoPhillips, EOG Resources, Phillips 66, Valero Energy, Halliburton, Kohler Co, Yanmar Co, Cummins Inc., Caterpillar Inc., General Electric Company, National Iranian Oil Company, Mentfield (1983) Ltd., Mayan For Gas Technologies, Gas Technologies O.B. Ltd., Sigmai Trade & Logistic Ltd., Bristol Specialty Gases, Middle East Gases, Abu Dubai National Oil Company, Petrofac International Sharafco Group Companies, Ghazanfer Group, Al Mansoori Abu Dubai, Emirates Lube Oil Company, Lootah BC Gas, Renergen (RLT), My Gas (Pty) Ltd., Air Products South Africa.

Asia-Pacific was the largest region in the helium market in 2023. North America was the second-largest region in the global helium market. The regions covered in the helium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the helium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary forms of helium include liquid helium and gaseous helium. Liquid helium exhibits superfluid properties, behaving essentially such as a fluid with zero viscosity as governed by the Euler equations. Its applications span various uses such as breathing mixes, cryogenics, leak detection, pressurizing and purging, welding, controlled atmosphere, and other applications across industries. End-users benefiting from helium applications include aerospace and aircraft, electronics and semiconductors, nuclear power, healthcare, welding, metal fabrication, and various other industries.

The helium market research report is one of a series of new reports that provides helium market statistics, including helium industry global market size, regional shares, competitors with a helium market share, detailed helium market segments, market trends and opportunities, and any further data you may need to thrive in the helium industry. This helium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The helium market consists of the sales of liquid helium and gaseous helium used for medicine, scientific research, refrigeration, gas for aircraft, and coolant for nuclear reactors. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.