Praxair

Mar 23, 2023

Helium market is anticipated to grow significantly through 2028 due to rise in demand for helium in electronics and semiconductor industry. China amassed around USD 16.5 Billion from sales of semiconductors in April 2022. Helium is a colorless, odorless, non-corrosive, non-toxic, and non-combustible gas mainly produced or sourced from natural gas wells. For better global positioning systems (GPS) in submarines and aircraft. For instance, research into the use of supercooled helium is continuing. The National Aeronautics and Space Administration (NASA) and the National Science Foundation-funded research are anticipated to focus on helium-4, which will be cooled to almost absolute zero, enabling it to become a frictionless fluid and acquire the potential to generate aural experiences. The worldwide helium market is significantly impacted by the rising R&D expenditures for technologies based on helium. Moreover, using helium for research on nuclear fusion reaction (ITER) and advertising on blimps for different companies will further expand the future growth of the helium market. Increase Demand from Healthcare Sector Helium is utilized to observe breathing. It is crucial to managing respiratory disorders such as asthma, emphysema, and others. Usually, the gas is utilized to treat lung conditions. Helium and oxygen are combined to treat acute and chronic respiratory conditions because they reach the lungs faster than any other substance. Magnetic resonant imaging (MRI) machine operates using helium. In 2021, around 30% of the share of global helium consumption was attributable to its use in MRI scanners. Also, for commercially available superconducting magnets employed in NMR spectroscopy, helium is the only gas to maintain the low temperature necessary for generating the superconducting effect. These factors will propel the market in the forecast period. Rising Demand for Particle Accelerators Helium is a very stable refrigerant that can cool down objects to thousandths of a Kelvin, or less than minus 450F ( -267C). The superconducting machinery of particle accelerators is cooled by liquid helium. Accelerators can be many miles long and need to be cooled throughout. In these accelerators, helium is employed in large quantities. After being filled with helium, an accelerator can keep using the refrigerant. Researchers need to top off the supply to account for the minimal quantity that leaks and wanders away from the accelerator each year. Thus, the market is anticipated to grow in the near future as helium is used heavily in particle accelerators. Growing Adsorption from The Metal Fabrication Industry Due to its stable and inert nature, lighter than air, high ionization potential, and no chemical reactions when exposed to other materials, helium gas use is rising in the metal fabrication business. These reasons make helium gas the preferred gas for all electric welding processes, including Tungsten Inert Gas (TIG), Metal Inert Gas (MIG), Metal Active Gas (MAG), Plasma, and Laser welding. Due to its excellent thermal conductivity, helium may be employed in welding processes that need more heat input. Helium gas sales will continue to rise throughout the projection period due to rising demand for thin sheet metal and associated goods in sectors including aerospace, medicine, industry, manufacturing, and automotive. Recent Developments In August 2022, Brothers Gas launched a UAE helium transfill facility both in gaseous and liquid form. In January 2022, Air Liquide announced a long-term agreement to supply ultra-high purity hydrogen, carbon dioxide, and helium to one of the world's largest semiconductor producers. Air Liquide entered into a long-term agreement with Laurentis Energy Partners, a leader in the clean-energy industry, to manufacture and distribute helium-3 (3He) in December 2021. In October 2021, Renerger announced the completion of a forward sale agreement for 100,000 units of helium in a 19-year agreement with Argonon Helium U.S. Inc. In June 2017, Qatar closed its two helium production plants because of the economic boycott imposed by other Arab states. Market Players Air Liquide SA, Air Products and Chemicals, Inc., Qatar Liquefied Gas Co Ltd, Praxair Technology, Inc., Linde plc, Messer SE & Co. KGaA, Matheson Tri gas Inc., Gulf Cryo, nexAir LLC, Noble Helium Limited are some of the key players of the Global Helium Market. Report Scope: In this report, the global helium market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below: Helium Market, By Type: Aerospace