|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The helium market size was estimated to be more than 6,500 million cubic feet in 2021, and the market is projected to register a CAGR of around 4% during the forecast period (2022-2027).
However, due to the COVID-19 outbreak, the aerospace industry took a severe blow, which resulted in the contraction of the aerospace industry in recent times, which negatively affected the growth prospects of helium in aerospace applications.
- In the medium term, increasing consumption of helium in the electronics and semiconductor industry and the growing usage in the healthcare industry are likely to drive the market demand.
- However, on the flip side, the high cost of the extraction process and the stringent government regulations concerning helium use are likely to hinder the growth of the market studied.
- Gas-phase helium dominated the market, and it is also projected to register the highest CAGR during the forecast period.
- The development of efficient storage and transport methods for gases is anticipated to provide numerous opportunities over the forecast period.
Scope of the Report
Helium is the second-most abundant element in the universe. It is mostly trapped in subterranean natural gas bunkers and is commercially extracted through a method known as fractional distillation. After attaining the required purity, helium is distributed, either in a gas form at normal temperature or in liquid form at a very low temperature. Helium in bulk quantities is usually shipped in unvented, pressurized containers pulled by trucks and tractors for small-scale customers. Whereas, for large-scale customers, helium is transported through pipelines from the closely located processing plants. By phase, the market is segmented into liquid and gas. By application, the market is segmented into breathing mixes, cryogenics, leak detection, pressurizing and purging, welding, controlled atmosphere, and other applications. By end-user industry, the market is segmented into aerospace and aircraft, electronics and semiconductors, nuclear power, healthcare, welding and metal fabrication, and other end-user industries. For each segment, the market sizing and forecasts have been done on the basis of volume (million cubic feet).
|Pressurizing and Purging|
|Aerospace and Aircraft|
|Electronics and Semiconductors|
|Welding and Metal Fabrication|
|Other End-user Industries|
Key Market Trends
Healthcare Sector to Dominate the Market
- Helium has a wide range of uses in the healthcare industry. It can reach a temperature of -269° C, making liquid helium the best option for cooling the magnets of MRI machines. Helium is also being used for breathing observation. It is an essential component in treating emphysema, asthma, and other conditions that affect breathing.
- The gas is usually used to treat lung diseases. Oxygen and helium are used together for the treatment of acute and chronic forms of respiratory ailments, as the combination reaches the lungs faster than all the others. There is no substitute for helium in cryogenic helium applications.
- Geographically, helium finds the largest amount of use in the North American healthcare sector. The United States spend a major share of their GDP on healthcare. Acccording to the National Health Expenditure Accounts (NHEA), the United States healthcare spending grew 9.7 percent in 2020, reaching USD 4.1 trillion or USD 12,530 per person. The healthcare spending accounted for 19.7 percent of the nation's Gross Domestic Product (GDP).
- Similarly, healthcare has become one of the largest sectors in India due to its strengthening coverage, services, and increasing expenditure by public and private players. Liberalization of government policies has also enabled 100% FDI in the medical devices market, and thus, a number of multi-national companies are looking forward to establishing their manufacturing bases in the country.
- Such factors are likely to increase the demand for helium over the forecast period.
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North America Region to Dominate the Market
- North America accounted for the largest share of the market, with the United States alone consuming a share of 30% of the global market.
- According to ZVEI, the electronics market in United States stood at EUR 617 bilion in 2019 and is forecasted to increase at a rate of 9% in 2021 and 5% in 2022 after a marginal decrease of 1% in 2020.
- Furthermore, the United States has the largest aerospace industry in the world. Acccorfing to Federal Aviation Administration (FAA), in United States, the commercial fleet is forecast to increase to 8,756 in 2041, an average annual growth rate of 2% per year. Additionally, the total general aviation fleet accounted for 204,980 aircrafts in 2020 and is expected to increase to 208,790 units by 2041. This is likely to increase the usage of market studued in the country.
- Additionally, MRI diagnostics is a growing field, both in terms of the number of installed scanners and the number of scans being performed. Based on data by OECD, the United States is one of the leaders in MRI, second only to Japan, both in terms of availability and utilization.
- Such aforementioned factors are expected to increase the demand for helium during the forecast period.
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The helium market is highly consolidated, with the top five players accounting for over 75% of the total market. The major players in the market include (not in any particular order) Air Liquide, Linde PLC, Matheson Tri-Gas Inc., Iwatani Corporation, and Messer Group, among others.
- In January 2022, Air Liquide announces a long term agreement to supply ultra high purity hydrogen, helium, and carbon dioxide to one of the world’s largest semiconductor manufacturers. Air Liquide plans to invest nearly 60 million U.S. dollars to build, own and operate onsite plants and systems at a new manufacturing site in Phoenix, Arizona, in support of this new agreement.
- In December 2021, Air Liquide has entered into a long-term agreement with Laurentis Energy Partners, a leader in the clean-energy industry, to produce and distribute helium-3 (3He).
- In October 2021, Renerger have announced the completion of a forward-sale agreement for an amount of 100,000 units of helium in a 19 year agreement to Argonon Helium US Inc.
- In Mar 2019, Messer acquired the majority of Linde AG’s gas business in North America and Linde and Praxair's business activities in South America.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Growing Consumption in the Electronics and Semiconductor Industry
4.1.2 Increasing Use in the Healthcare Industry
4.2.1 Expensive Extraction Process
4.2.2 Stringent Government Regulations Concerning Helium Use
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size by Volume)
5.2.1 Breathing Mixes
5.2.3 Leak Detection
5.2.4 Pressurizing and Purging
5.2.6 Controlled Atmosphere
5.2.7 Other Applications
5.3 End-user Industry
5.3.1 Aerospace and Aircraft
5.3.2 Electronics and Semiconductors
5.3.3 Nuclear Power
5.3.5 Welding and Metal Fabrication
5.3.6 Other End-user Industries
5.4.1 Production Analysis
220.127.116.11 United States
18.104.22.168 Other Countries
5.4.2 Consumption Analysis
22.214.171.124.4 South Korea
126.96.36.199.5 Australia & New Zealand
188.8.131.52.6 Rest of Asia-Pacific
184.108.40.206 North America
220.127.116.11.1 United States
18.104.22.168.4 United Kingdom
22.214.171.124.6 Rest of Europe
126.96.36.199 Rest of the World
188.8.131.52.1 South America
184.108.40.206.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Air Liquide
6.4.2 Air Products and Chemicals Inc.
6.4.3 Exxon Mobil Corporation
6.4.5 Gulf Cryo
6.4.6 Iwatani Corporation
6.4.7 Linde PLC
6.4.8 Matheson Tri-Gas Inc.
6.4.9 Messer Group GmbH
6.4.10 NexAir LLC
6.4.11 PGNIG SA
6.4.12 Qatargas Operating Company Limited
6.4.14 Weil Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of Efficient Storage and Transport Methods for Gases
7.2 Huge Reserve of Natural Gas Found in Tanzania
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Frequently Asked Questions
What is the study period of this market?
The Helium Market market is studied from 2017 - 2027.
What is the growth rate of Helium Market?
The Helium Market is growing at a CAGR of <4% over the next 5 years.
Which region has highest growth rate in Helium Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Helium Market?
North America holds highest share in 2021.
Who are the key players in Helium Market?
Air Liquide, Linde Plc, Matheson Tri-Gas Inc., Air Products and Chemicals Inc., Iwatani Corporation are the major companies operating in Helium Market.