The global helium market was valued at $3.3 billion in 2022, and is projected to reach $4.9 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.
Helium, a colorless noble gas, is highly abundant in the universe, second only to hydrogen. Its unique properties, Including a low boiling point and gaseous state at very low temperatures, make it valuable for applications requiring extreme cold environments. Furthermore, helium is non-flammable and chemically inert, making it unreactive from other substances in normal conditions.
Helium possesses several unique properties that make it valuable for various applications. It has the lowest boiling point of any element, which allows it to remain in a gaseous state at extremely low temperatures. It is lighter than air, which enables it to rise and float, making it ideal for filling balloons and airships.
Helium has numerous applications in scientific research and experimentation. Its low boiling point and inert nature make it a crucial coolant in cryogenics, enabling scientists to achieve extremely low temperatures required for various studies, such as superconductivity and quantum mechanics. Helium finds application in gas chromatography, a scientific method utilized for the analysis and separation of intricate mixtures in the fields of chemistry and biology.
Helium plays a vital role in medical and healthcare applications. As a breathing gas used to treat respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD), helium is frequently combined with oxygen. Helium's low density lowers airway resistance and makes it easier for patients to breathe. Helium is also used to cool the superconducting magnets in magnetic resonance imaging (MRI) scanners.
One of the most well-known uses of helium is in filling balloons and airships. Due to its lighter-than-air property, helium enables balloons to float effortlessly in the sky. The use of helium in balloons is not limited to recreational purposes but also extends to meteorological research, aerial photography, and scientific experiments that require elevated observations or data collection. Helium's unique properties contribute to breakthroughs in scientific research, Including discoveries in quantum physics and enabling the development of advanced technologies such as superconductivity and MRI scanning.
On the basis of phase type, the liquid segment is the fastest-growing segment of the helium market in 2022. Liquid helium is a widely utilized cryogenic coolant due to its exceptional ability to reach Incredibly low temperatures. With a boiling point of -268.93 degrees Celsius (-452 degrees Fahrenheit), it is an ideal choice for maintaining extreme cold conditions in various scientific research applications. Specifically, it plays a crucial role in fields like superconductivity, low-temperature physics, and materials science. Liquid helium is indispensable for cooling superconducting magnets, which are integral components in advanced technologies such as MRI machines and particle accelerators.
On the basis of application, the breathing mixture segment is the fastest-growing segment of the helium market in 2022. Breathing mixtures that Include helium are commonly used in certain specialized applications, such as deep-sea diving and aerospace activities. The addition of helium to breathing mixtures serves specific purposes based on the properties of the gas. Helium is often mixed with oxygen to create a breathing mixture called heliox, which is used in deep-sea diving. When diving at great depths, the Increased pressure can cause a condition called nitrogen narcosis, also known as 'rapture of the deep.' To counteract this, helium is used to replace some or all of the nitrogen in the breathing mixture. Helium has a lower density and higher thermal conductivity than nitrogen, making it safer to use at extreme depths.
On the basis of the end-use industry, the others Including automotive, metal fabrication, and others segment is the fastest-growing segment of the helium market in 2022. Helium-filled tires can provide advantages such as decreased weight, enhanced fuel efficiency, and improved heat dispersion. Moreover, helium finds application as a shielding gas in specific welding methods like gas tungsten arc welding (GTAW) or tungsten inert gas (TIG) welding. In these techniques, helium is combined with other gases, such as argon, to generate the desired protective environment around the welding arc. By Incorporating helium, these processes achieve enhanced arc stability, elevated heat transfer, and prevention of metal oxidation during welding.
By region, the Asia-Pacific is the fastest-growing region of the helium market in 2022. The Asia-Pacific region is a leading hub for research and development in the field of cryogenics and superconductivity. Helium plays a crucial role as a cryogenic coolant in a wide range of applications such as superconducting magnets, MRI machines, particle accelerators, and NMR spectrometers. These technologies have significant implications for scientific research, healthcare, and materials science.
In January 2021, the Lingang Economic District in China chose Fives Group to supply 13 Cryomec cryogenic centrifugal pumps for their upcoming air separation unit (ASU). The ASU is specifically designed to generate more than 2,000 tons of oxygen per day, highlighting the importance of cryogenics in large-scale industrial processes.
The major players operating in the global helium market Include Air Liquide S.A., Air Products & Chemicals Inc., ExxonMobil Corporation, Gazprom PJSC, Gulf Cryo S.A.L., IACX Energy, Linde plc, Matheson Tri-Gas, Inc., Praxair, Inc., and Taiyo Nippon Sanso Corporation.
Helium, a colorless noble gas, is highly abundant in the universe, second only to hydrogen. Its unique properties, Including a low boiling point and gaseous state at very low temperatures, make it valuable for applications requiring extreme cold environments. Furthermore, helium is non-flammable and chemically inert, making it unreactive from other substances in normal conditions.
Helium possesses several unique properties that make it valuable for various applications. It has the lowest boiling point of any element, which allows it to remain in a gaseous state at extremely low temperatures. It is lighter than air, which enables it to rise and float, making it ideal for filling balloons and airships.
Helium has numerous applications in scientific research and experimentation. Its low boiling point and inert nature make it a crucial coolant in cryogenics, enabling scientists to achieve extremely low temperatures required for various studies, such as superconductivity and quantum mechanics. Helium finds application in gas chromatography, a scientific method utilized for the analysis and separation of intricate mixtures in the fields of chemistry and biology.
Helium plays a vital role in medical and healthcare applications. As a breathing gas used to treat respiratory conditions such as asthma and chronic obstructive pulmonary disease (COPD), helium is frequently combined with oxygen. Helium's low density lowers airway resistance and makes it easier for patients to breathe. Helium is also used to cool the superconducting magnets in magnetic resonance imaging (MRI) scanners.
One of the most well-known uses of helium is in filling balloons and airships. Due to its lighter-than-air property, helium enables balloons to float effortlessly in the sky. The use of helium in balloons is not limited to recreational purposes but also extends to meteorological research, aerial photography, and scientific experiments that require elevated observations or data collection. Helium's unique properties contribute to breakthroughs in scientific research, Including discoveries in quantum physics and enabling the development of advanced technologies such as superconductivity and MRI scanning.
On the basis of phase type, the liquid segment is the fastest-growing segment of the helium market in 2022. Liquid helium is a widely utilized cryogenic coolant due to its exceptional ability to reach Incredibly low temperatures. With a boiling point of -268.93 degrees Celsius (-452 degrees Fahrenheit), it is an ideal choice for maintaining extreme cold conditions in various scientific research applications. Specifically, it plays a crucial role in fields like superconductivity, low-temperature physics, and materials science. Liquid helium is indispensable for cooling superconducting magnets, which are integral components in advanced technologies such as MRI machines and particle accelerators.
On the basis of application, the breathing mixture segment is the fastest-growing segment of the helium market in 2022. Breathing mixtures that Include helium are commonly used in certain specialized applications, such as deep-sea diving and aerospace activities. The addition of helium to breathing mixtures serves specific purposes based on the properties of the gas. Helium is often mixed with oxygen to create a breathing mixture called heliox, which is used in deep-sea diving. When diving at great depths, the Increased pressure can cause a condition called nitrogen narcosis, also known as 'rapture of the deep.' To counteract this, helium is used to replace some or all of the nitrogen in the breathing mixture. Helium has a lower density and higher thermal conductivity than nitrogen, making it safer to use at extreme depths.
On the basis of the end-use industry, the others Including automotive, metal fabrication, and others segment is the fastest-growing segment of the helium market in 2022. Helium-filled tires can provide advantages such as decreased weight, enhanced fuel efficiency, and improved heat dispersion. Moreover, helium finds application as a shielding gas in specific welding methods like gas tungsten arc welding (GTAW) or tungsten inert gas (TIG) welding. In these techniques, helium is combined with other gases, such as argon, to generate the desired protective environment around the welding arc. By Incorporating helium, these processes achieve enhanced arc stability, elevated heat transfer, and prevention of metal oxidation during welding.
By region, the Asia-Pacific is the fastest-growing region of the helium market in 2022. The Asia-Pacific region is a leading hub for research and development in the field of cryogenics and superconductivity. Helium plays a crucial role as a cryogenic coolant in a wide range of applications such as superconducting magnets, MRI machines, particle accelerators, and NMR spectrometers. These technologies have significant implications for scientific research, healthcare, and materials science.
In January 2021, the Lingang Economic District in China chose Fives Group to supply 13 Cryomec cryogenic centrifugal pumps for their upcoming air separation unit (ASU). The ASU is specifically designed to generate more than 2,000 tons of oxygen per day, highlighting the importance of cryogenics in large-scale industrial processes.
The major players operating in the global helium market Include Air Liquide S.A., Air Products & Chemicals Inc., ExxonMobil Corporation, Gazprom PJSC, Gulf Cryo S.A.L., IACX Energy, Linde plc, Matheson Tri-Gas, Inc., Praxair, Inc., and Taiyo Nippon Sanso Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the helium market analysis from 2022 to 2032 to identify the prevailing helium market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the helium market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global helium market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Cryogenics
- Pressurizing and Purging
- Welding
- Controlled Atmosphere
- Leak Detection
- Breathing Mixture
- Others
By End-Use Industry
- Aerospace and Defense
- Medical and Healthcare
- Electricals and Electronics
- Others
By Phase Type
- Liquid
- Gaseous
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Air Liquide S.A.
- Air Products & Chemicals Inc.
- ExxonMobil Corporation
- Gazprom PJSC
- Gulf Cryo S.A.L.
- IACX Energy
- Linde plc
- Matheson Tri-Gas, Inc.
- Praxair, Inc.
- Taiyo Nippon Sanso Corporation
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HELIUM MARKET, BY PHASE TYPE
CHAPTER 5: HELIUM MARKET, BY APPLICATION
CHAPTER 6: HELIUM MARKET, BY END-USE INDUSTRY
CHAPTER 7: HELIUM MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Helium Market,' The helium market was valued at $3.3 billion in 2022, and is estimated to reach $4.9 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.Helium is a chemical element with the atomic number 2 and the symbol He. It is a colorless, odorless, and tasteless gas that is the second most abundant element in the universe. One of the most well-known and important uses of helium is in its liquid form for cryogenics. When cooled to extremely low temperatures, helium becomes a liquid with unique properties. Its low boiling point of -268.93 degrees Celsius (-452 degrees Fahrenheit) makes it an excellent coolant for superconducting magnets used in magnetic resonance imaging (MRI) machines and particle accelerators. Helium's ability to maintain extremely low temperatures also makes it useful in cryogenic research, where scientists study the behavior of materials at extremely cold temperatures.
In addition to cryogenics, helium has various other applications in different domains. In the field of aerospace, helium is used as a lifting gas in airships and balloons. Due to its low density, it provides buoyancy to these vehicles, allowing them to float in the air. Helium-filled balloons are commonly used for recreational purposes, as well as for scientific research, weather observations, and aerial photography.
Helium is also utilized in the field of gas chromatography, which is a technique used to separate and analyze the components of a mixture. Its low boiling point and inert nature make it an ideal carrier gas for this analytical method. Helium is commonly used in gas chromatographs to carry the sample through the column, where the different components are separated based on their interactions with the stationary phase.
Helium's unique properties also make it valuable in scientific research and experimentation. In particle physics, helium is used as a coolant in particle accelerators to maintain low temperatures and enable the efficient operation of superconducting magnets. These magnets are essential for bending and focusing particle beams during experiments.
Furthermore, helium is used in astrophysics research. Liquid helium is used to cool infrared detectors and telescopes, allowing scientists to observe and study distant celestial objects with greater precision. Helium is also used in the field of spectroscopy, where the interaction of light with matter is analyzed. Its inertness and stability make it an ideal medium for maintaining precise conditions during spectroscopic experiments.
Helium recycling and conservation is expected to provide sufficient development prospects for the expansion of the global helium market in the future years. Helium recycling involves collecting, purifying, and reusing helium gas to prevent its loss or release into the atmosphere. This process helps conserve the available supply and reduce the need for new extraction. It finds applications in industries reliant on helium, such as cooling systems, cryogenic procedures, and leak detection. Efficient storage and distribution systems can enhance helium use and minimize losses by optimizing conditions, preventing leaks, and improving transportation methods. Cryogenic systems and cold traps are crucial for helium recycling, capturing and recovering helium during processes like cryogenic cooling. In June 2021, Dalian Shipbuilding Industry, a subsidiary of China State Shipbuilding Corporation, delivered the world’s first dual-fuel VLCC 2x3500m³ C-type liquefied natural gas (LNG) cryogenic storage tank where helium gained popularity as a cooling agent.
Price volatility of helium find a challenge in helium market. Price volatility poses a significant challenge for businesses that depend on helium due to the limited global supply and increasing demand. Fluctuations in helium prices can be substantial, primarily due to the ongoing supply-demand imbalance. Even minor disruptions in the supply chain can have a significant impact on prices.
Helium's demand is relatively inelastic, meaning that changes in price have a limited effect on demand in the short term. This lack of substitutability further exacerbates the price volatility as industries like healthcare and electronics have no viable alternatives to helium. Regardless of price increases, these businesses must secure a helium supply.
The helium market is segmented into phase type, application, end-use industry, and regions. On the basis of phase type, the market is bifurcated into liquid and gaseous. On the basis of application, the market is categorized into cryogenics, pressurizing and purging, welding, controlled atmosphere, leak detection, breathing mixture, others. On the basis of the end-use industry, the market is divided into aerospace and defense, medical and healthcare, electricals and electronics, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
In addition, the report covers profiles of key industry participants such as Air Liquide S.A., Air Products & Chemicals Inc., ExxonMobil Corporation, Gazprom PJSC, Gulf Cryo S.A.L., IACX Energy, Linde plc, Matheson Tri-Gas, Inc., Praxair, Inc., and Taiyo Nippon Sanso Corporation.
Key Market Trends:
- By Phase type, liquid is the fastest-growing segment with a CAGR of 4.7%.
- On the basis of application, the breathing mixture segment is experiencing rapid growth, with a remarkable CAGR of 4.9%
- Based on the end-use industry, other segments including automotive, metal fabrication are the fastest growing segments.
- Region-wise, Asia-Pacific is the fastest-growing segment in the market.
Companies Mentioned
- Air Liquide S.A.
- Air Products & Chemicals Inc.
- ExxonMobil Corporation
- Gazprom PJSC
- Gulf Cryo S.A.L.
- IACX Energy
- Linde plc
- Matheson Tri-Gas, Inc.
- Praxair, Inc.
- Taiyo Nippon Sanso Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | June 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 3.3 billion |
| Forecasted Market Value ( USD | $ 4.9 billion |
| Compound Annual Growth Rate | 4.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
