Helium Market Size, Share, Growth & Forecast 2031 (2024)

Global Helium Market size was valued at USD 3.94 billion in 2019 and is poised to grow from USD 4.45 billion in 2023 to USD 13.26 billion by 2031, growing at a CAGR of 12.9% in the forecast period (2024-2031).

Helium is used as a coolant for the Large Hadron Collider (LHC) and superconducting magnets in MRI scanners and NMR spectrometers. It is also used to cool satellite instruments and was used to cool the liquid oxygen and hydrogen that powered the Apollo spacecraft. The main types of helium are liquid helium and gaseous helium. Liquid helium is a superfluid, it essentially behaves like a zero-viscosity fluid governed by Euler's equations.

These are used in applications such as breathing mixtures, cryogenics, leak detection, pressurization and purging, welding, controlled atmosphere, and other applications that are used by end-users such as aerospace and aircraft, electronics and semiconductors, nuclear power, healthcare, welding, and metal fabrication, and other end-user industries.

Helium is used in various healthcare applications as adjunctive therapy in the exacerbation of asthma, ARDS, croup, COPD, and bronchiolitis. For example, helium is used in magnetic resonance imaging (MRI) systems to regulate powerful magnets, which is useful for monitoring various conditions of the abdomen, chest, and pelvis, and also useful for diagnosing pregnancy.

US Helium Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Helium market is segmented based on the Types, Application, end user, and region. Based on the Types, the Helium Market is segmented as liquid and gas. Based On Application, the Helium Market is segmented as Breathing Mixes, Cryogenics, Leak Detection, Pressurizing and Purging, Welding, Controlled Atmosphere, and Others. Based on end user, the Helium Market is segmented into healthcare, electronics & semiconductors, aerospace, defense, energy and power, and others. Based on Region Helium Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Helium Market Analysis by Types

Based on its types, the global helium market can be segmented into liquids and gas. Among these there is Large-scale usage of gaseous helium, which also has the biggest market share, it is frequently used in welding. Gas-based helium has applications in fiber optics, semiconductors, leak detection, pressurizing and purging, and as a heat transfer medium. The need for gas from medical applications like NMR and MRI, expansion in the semiconductor industry, and electronics in the APAC region are the main factors driving the growth of the worldwide helium gas market. The utilization of gas helium in recent years has been on the rise with increasing adoption in various end-use segments.

Helium Market Driver

• The development of conventional and unconventional gas reserves has been the focus of investments by gas operators due to the significant increase in natural gas demand. Helium is obtained as a by-product of natural gas. Therefore, it is projected that an increase in capital spending on-field development will lessen the inconsistent supply.
• Semiconductor chips are used in electronic devices like PCs, tablets, and smartphones to perform computational, storage, and communication tasks. Most of these chips are constructed of silicon, a typical semiconductor substance.
• Due to its high thermal conductivity, which helps regulate the silicon's temperature, helium is widely used in the production of semiconductors. Helium also has inert gas and low-temperature properties. Its usage in the electronics industry is anticipated to increase as a result. Thus, it is projected that increased investments in the electronics sector will fuel the worldwide helium market.

Helium Market Restraint

• Helium gas production and transportation are subject to stringent safety rules, which has had a significant impact on the industry. When exposed to high temperatures and pressures, these chemicals become toxic and dangerous. Equipment, methods, and procedures should be invested in by businesses in this sector to reduce harmful levels and chemical concentrations. These laws raised the operational costs of businesses in this sector, reducing the opportunity for investments in the introduction of new products and the opening of new markets, and so impacting market expansion.

The Global Helium market is medium concentrated, with prominent players in the market which accounting over 75% of the total market. Key players include Air Liquide, Linde PLC, Matheson Tri-Gas Inc., Iwatani Corporation, and Messer Group, among others. They conduct out partnerships, mergers, acquisitions, collaborations, and other strategy.

Helium Market Top Player's Company Profiles

• Linde Plc.
• Air Products and Chemicals, Inc.
• Linde AG
• RasGas Company Limited
• Buzwair Industrial Gases Factories
• Praxair, Inc.
• Air Liquide S.A.
• Matheson Tri-Gas Inc.
• Iwatani Corporation
• Gazprom
• ExxonMobil Corporation
• Qatar Petroleum
• Gazprom Export LLC
• Taiyo Nippon Sanso Corporation
• Airgas, Inc.
• Messer Group
• Showa Denko K.K.
• Gulf Cryo Holding
• Australian Helium Pty Ltd.
• PGNiG SA
• Weil Group Resources, LLC

Helium Market Recent Developments

• In January 2022, A long-term arrangement to deliver extremely high purity hydrogen, helium, and carbon dioxide to one of the biggest semiconductor manufacturers in the world is announced by Air Liquide. In order to support this new deal, Air Liquide intends to invest almost 60 million dollars in the construction, ownership, and operation of onsite plants and systems at a new production site in Phoenix, Arizona.
• In October 2021, the conclusion of a forward-sale deal for 100,000 units of helium over a 19-year period to Argonon Helium US Inc. was announced by Renerger.

• Geographically, the North American healthcare industry is where helium is used the most frequently. The United States invests a large portion of its GDP in healthcare. The National Health Expenditure Accounts (NHEA) report that healthcare spending in the United States increased 9.7% in 2020, totaling USD 4.1 trillion, or USD 12,530 per person. 19.7 percent of the nation's Gross Domestic Product was spent on healthcare (GDP).
• In a similar manner, India's healthcare industry has grown significantly as a result of improved services, expanded coverage, and rising public and private spending. A number of multinational companies are ready to set up manufacturing bases in the nation as a result of government policy liberalization that has made it possible for 100 percent FDI in the medical device sector.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Helium market Analysis, in terms of product gaseous phase has the biggest market share as there is Large-scale usage of gaseous helium, it is frequently used in welding. in terms of application, the white goods segment held the largest share-based systems will challenge the market growth during the forecast period.