Helium Market Size to Grow at 8.3% CAGR, North America to Dominate by 2030 | Maximize Market Research

Helium Market Report, 2024-2030: The global Helium Market Size is expected to reach USD 27.06 billion by 2030, expanding at a CAGR of 8.3% from 2024 to 2030.

The International Helium Market is estimated to be valued at USD 15.48 Billion within 2023 and grow at a Compound Annual Growth Rate (CAGR) of 8.3% to reach USD 27.06 Billion until 2030 on the path of firm growth(the global helium market is strongd)(the global helium market)). Such growth will mostly be driven by the increasing demand for helium, as a resource that is being used for electronics, medical imaging, and cryogenics that propels technological growth.

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Drivers and potential opportunities for market growth

The global helium market has been witnessing tremendous growth for a few reasons. The increase in demand for helium in electronics and semiconductor industries is one of the key factors driving this market. Helium is also used in semiconductors, where it helps cool magnets and create the right atmosphere for making advanced microchips. Helium needs in this sector is expected to grow up in sharp manner, as technology improves with time and people start using more electronic devices.

Another major sector is the medical industry, especially the field of magnetic resonance imaging (MRI). Helium is also crucial for cooling the superconducting magnets used in MRI machines, meaning there is no alternative to the use of helium in medical diagnostics. While newer, lower helium requiring MRIs are continuously being developed, the demand for helium in the healthcare sector continues to be healthy, and is projected to rise.

Segmentation Analysis

On the basis of phase, it is bifurcated into gaseous helium and liquid helium.

By Phase: Helium is classified into both liquid and gas phases and the liquid phase segment accounted for the highest market share. The main application of liquid helium is medical use, specifically cooling superconducting magnets in MRI machines. It is also used in cryogenics, which requires a minimum temperature. Helium gas in its gaseous state, which is used for pressurizing, purging, and welding processes, has also been an important shareholding in the market.

Based on Application: The helium market is further divided into cryogenics, breathing mixes, lead detection, welding, and controlled atmosphere. Out of these, the cryogenics segment of helium market has been dominating the global market share owing to the application of helium as super coolant for a number of applications such as MRI, nuclear magnetic resonance (NMR) spectroscopy, particle accelerators and etc. This segment is projected to grow in the future as an increasing number of cryogenic applications, especially in the medical and scientific field rely on helium.

By End-Use Industry: Helium is utilized in a number of industries such as aerospace & aircraft, electronics & semiconductors, healthcare, nuclear power as well as welding & metal fabrication. For 2023, the largest share (more than 34%) of the market is just about covered by the healthcare segment. Helium plays an important role in MRI systems and in the treatment of breathing disorders like asthma, emphysema, etc., which makes it a necessary element in the health care sector.

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Regional Insights

North America — North America is the largest helium market in the world, with a sizeable share of global helium consumption in the United States. Helium demand arising from advanced technologies in semiconductor manufacturing in the U.S., which is the world's largest electronics market and associated with high rates of helium consumption for global chip manufacturing, will continue to hold down substitutes for helium. In addition, the country accounts for a large proportion of the world's helium reserves, which strengthens its market position.

EUROPE– The helium market in Europe has been growing at a steady pace owing to the fact that advance technologies are intensively used in healthcare, aerospace, and electronics market. With the progressing growth of the industrial sector in Germany and France, the demand for helium is anticipated to grow further.

Asia Pacific: Industrialization in neighboring nations will generate a significant demand in the asia pacific region 수산업으로 다수의 성장; 시장. Furthermore, the rapid expansion of electronics manufacturing industries along with rising healthcare needs will lead to a substantial increase in the desired helium consumption across the region.

Middle East & Africa — The Middle East and Africa are also expected to play an important part in developing the global helium market. His repeal follows the increase in demand for helium from the aerospace and medical sectors within the region. But it is a smaller share than compared to North America, Europe, or those types of regions.

Competitor Analysis

Couple of the primary players are pushing growth for the helium market. These companies are concentrating on increasing their production capacities, discovering new helium reserves and signing strategic partnerships in order to cater the growing demand.

Air Products and Chemicals, Inc. — Another top company in helium supply, Air Products & Chemicals specializes in industrial gases. The company has been busy to increase its capabilities in helium production and obtain new helium supply as well.

Linde plc — Linde is another global largest supplier of helium, offering high-purity helium for wide range of applications. Forte has a successful business in electronics and healthcare markets, and is famous for acquisitions focused on improving its helium supply chain.

Praxair Technology, Inc.: Praxair, which is now part of Linde plc, has played an important role in the helium market growth, particularly in semiconductor and medical applications. GHOSE: The company remain focused on expanding production and distribution capabilities for helium.

Air Liquide — A world leader in gases, technologies and services for Industry and Health. In response to the increased need for helium in medical imaging and other essential uses, the company is making substantial investments in helium production centers.

Gazprom: Gazprom is one of the largest producers of natural gas in the world and a major helium supplier. Helium is a byproduct of the extraction of natural gas, in which the company engages and is in the process of expanding its helium production to assist the corresponding demand across a number of industries.

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Recent Developments

Various projects are influencing the helium market with the development of new helium production projects along with agreements. Linde and Air Products, on the other hand, have both ramped helium operations up-header, ramped helium output and both coming in the emerging, expanding helium markets of the mega-three. Recent developments in helium recovery and recycling technologies are also enabling the easing of supply difficulties and therefore securing a sustainable helium supply for years to come.

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