Global Helium Market Size 2024, Forecast To 2033
11 Mar, 2024
The helium market has witnessed strong growth, escalating from $4.81 billion in 2023 to $5.22 billion in 2024, marking a compound annual growth rate (CAGR) of 8.6%. The growth in the historical period is attributed to strong economic growth in emerging markets, an increasing demand for chemical products, and a rising demand for bio-based dispersants. Projected for the forecasted period is continued strong growth, reaching $6.92 billion in 2028 at a CAGR of 7.3%. Drivers for this growth include government support, improvement in polymerization techniques, a rise in demand for water-based dispersants, and increasing urbanization. Key trends in the forecast period involve helium manufacturers adopting IoT technology, the use of helium-filled hard drive technology, an increase in production capacity, product innovation, and partnerships and collaborations.
Global Helium Market Key Driver
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. In 2023, the helium market witnesses significant growth, driven by healthcare applications. This trend continues in 2024, as the demand for helium in the healthcare sector remains robust. Looking forward to 2028, the market size is projected to further expand, reflecting the continued reliance on helium in medical applications.
Get A Free Sample Of The Global Helium Market ReportGlobal Helium Market 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
By Geography:The regions covered in the helium market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Asia-Pacific was the largest region in the helium market in 2023. North America was the second-largest region in the global helium market. The regions covered in the helium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Helium Industry Players
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
Get The Full Global Helium Market Report
Helium 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.
Helium Global Market Report 2023 provides data on the global helium market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The helium market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.