Helium Market Demand | Size, Development Data, Growth Analysis & Forecast 2022 to 2027
Market Synopsis
The Global
Helium Market demand was valued at around USD 4.08 billion in 2018 and is
expected to register a healthy CAGR during the review period. Helium is
produced in the natural environment due to radioactive decaying, which remains
trapped in reserves as natural gas. With the depleting natural gas reserves
containing helium, the need for producing pure play helium has increased, which
is likely to drive the market growth in the coming years. The market players
are emphasizing on recovering helium from liquefied natural gas (LNG)
facilities. For instance, in 2018, Air Products and Chemicals, Inc and
Sonatrach signed two gas production and delivery agreements to recover helium
from Sonatrach’s LNG facilities. The recovered helium will be delivered to
HELIOS, a joint venture between Air Products and Chemicals, Inc and Sonatrach.
The global demand
for helium is increasing due to its extensive use in cryogenics, particularly,
magnetic resonance imaging (MRI) scanners. The growth of the semiconductor
industry in the developing countries of Asia-Pacific is likely to offer
significant opportunities for global market players. However, the availability
of low-cost alternatives such as argon, liquid nitrogen, and hydrogen is likely
to hamper the market growth.
Market
Segmentation
The global Helium
Market Demand has been segmented by form,
application, end-use industry, and region.
On the basis of
form, the global market has been classified into liquid and gas. The gas
segment accounted for the largest market share in 2018 on account of its
increasing applications in metal fabrication, welding, leak detection, and
pressurizing. Liquid helium is used in cryogenic applications, particularly
magnetic resonance imaging (MRI) scanners for cooling magnets.
Based on
application, the global market has been divided into cryogenics, pressurizing
and purging, welding, leak detection, breathing mixtures, controlled
atmosphere, and others. The cryogenics segment accounted for the largest market
share in 2018 on account of wide use of liquid helium in MRI scanners due to
its low temperature in the liquid state. The welding segment accounted for the
second-largest share of the global helium market owing to increasing demand for
shielding gas in welding applications and metal fabricated products used in the
aerospace and automotive industries.
Based on end-use
industry, the global market has been divided into aerospace & defense,
electrical & electronics, medical, automotive, energy, leisure/recreational,
welding & metal fabrication, and others. The growth of the global helium
market is mainly driven by its extensive use in the aerospace and medical
industries. The semiconductor was the fastest growing segment on account of
increasing consumption of chips with rapid technological advancements in the
developing countries.
Competitive
Analysis
Some of the key
players operating in the global helium market growth are The Linde Group
(Germany), Air Products and Chemicals, Inc (US), Qatargas Operating
Company Limited (Qatar), Noble Helium Pty Ltd (Australia), Praxair Technology,
Inc (UK), Air Liquide (France), Weil Group (US), Nippon Helium Inc (Japan),
Messer Group GmbH (Germany), nexAir LLC (US), and Gulf Cryo (Kuwait),
Regional
Analysis
Based on region,
the global Helium
Stocks has
been segmented into North America, Europe, Asia-Pacific, Latin America, and the
Middle East & Africa. The market in Asia-Pacific accounted for the largest
share of the global helium market owing to increasing investments in the
aerospace & defense industry coupled with the presence of major players of
the aerospace & defense industry such as Boeing, United Technologies
Corporation, and GE Aviation.
Europe is also
expected to be the prominent market on account of the expanding medical
industry coupled with rapid technological advancements in the medical
procedures.
The market in
Asia-Pacific is likely to witness healthy growth on account of the rapid growth
of the semiconductor industry in the developing countries coupled with
increased spending on electronics.
The markets in
Latin America and the Middle East and Africa are likely to register healthy
CAGRs on account of the growth of the major end-use industries such as
aerospace & defense, electrical & electronics, and automotive.
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