Press release
Helium Market: Insights and Future Trends - Global Forecast 2024
Helium Market
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 growth in the forecast period can be attributed to government support, improvement in polymerization techniques, a rise in demand for water-based dispersants and rising urbanization. Major trends in the forecast period include helium manufacturers adopting iot technology, use of helium-filled hard drive technology, an increase in production capacity, product innovation and partnerships and collaborations..
Market Overview -
Helium is a chemical element also known as Nobel gas (inert gas), which is available in natural gas form and can be converted into liquid form by lowering the temperature to below 270 degrees. Helium is an odorless, tasteless, colorless, inert, non-toxic monatomic gas that uses the lowest boiling and melting points.
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Increasing Demand From The Healthcare Industry To Drive Market Growth
The helium market's growth is expected to be driven by the growing demand from the healthcare industry. Helium is widely used in various disease diagnosis equipment as it has unique properties such as being inert in nature, non-reactive with other elements, noncorrosive and non-flammable. Helium is used in various applications in the healthcare industry, such as adjunct therapy in asthma exacerbation, ARDS, croup, COPD, and bronchiolitis. For instance, helium is utilized in magnetic resonance imaging (MRI) apparatus to regulate powerful magnets, which are useful for monitoring various conditions within the abdominal, chest, and pelvis. They are also useful in pregnancy diagnosis.
Competitive Landscape -
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
Transition To Non-Hydrocarbon Helium Production
The decline of existing helium supply sources, particularly in the US Bureau of Land Management's (BLM) system, is causing industrial gas companies and distributors to seek new sources of helium supply, such as the production of helium from non-hydrocarbon sources. Helium production from non-hydrocarbon sources is a process where helium is produced and sold as either the only revenue stream or one of the key revenue streams. For example, at the Global Helium Summit, Rex Canon, IACX Energy's CEO, pointed out that ""If there were another non-hydrocarbon gas present that could be produced and sold as a commercial product, such as carbon dioxide, gas fields with helium content lower than 0.6% could have been developed for the production and sale of helium as a secondary product."" He also mentioned that due to the decline of the BLM supplies, non-hydrocarbon sources of helium were a good alternative to the traditional sources from LNG flash gas and NRU off-gas.
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Key Segments -
The helium market covered in this report is segmented -
1) By Type: Liquid Helium, Gaseous Helium
2) By Application: Breathing Mixes, Cryogenics, Leak Detection, Pressurizing and Purging, Welding, Controlled Atmosphere, Other Applications
3) By End User: Healthcare, Welding And Metal Fabrication, Electronics And Semiconductors, Laboratory, Lifting And Balloons, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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