Gaseous Helium Market Size, Share, Growth, and Industry Growth by Type (Grade A and Industrial-Grade Helium) By Application (Welding, Leak Detection, Pressurizing and Purging, Aerostatics, Cryogenics, and Others) Regional Forecast To 2031

Updated On: 08 April 2024

Gaseous Helium Market REPORT OVERVIEW

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The global gaseous helium market size was USD 989.56 million in 2021 and the market is projected to touch USD 1314.71 million by 2030, exhibiting a Compound annual growth rate (CAGR) of 3.21% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Helium is a chemical element. The symbol of the chemical element is (He), and the atomic number is 2. It is an odorless, colorless, non-toxic, tasteless, inert, and monatomic gas. It is the first in the noble gas group in the periodic table.

Increasing demand for helium in semiconductor and electronics sector is expected to fuel market growth. The chemical is extensively used in the healthcare sector for treating asthma, emphysema, and other conditions. Further, it is used in the defense and aerospace sector. It is also used in NMR and MRI technology as a coolant. Increased use of the product in welding and leak detection applications is anticipated to fuel market growth. Rapid urbanization and industrialization are estimated to fuel market progress in the forthcoming years. On the contrary, the high cost of extraction and stringent government regulations is predicted to hamper market growth in the forthcoming years.

COVID-19 Impact: Lower Demand for Extraction Activities to Hamper Market Growth

The outbreak of Coronavirus hampered extraction activities. Lower demand for the product and closure of manufacturing units hinder market progress. Also, the shutdown of production activities and disruption in supply and chain minimize market growth. However, increased demand for healthcare sector and usage use of the product in healthcare equipment’s to recover market growth.

LATEST TRENDS

"Rise in Demand for Helium in Semiconductors and Electronics Sectors to Fuel Market Growth"

Rising need for the product in the semiconductor and electronic sectors for its non-reacting properties. The product is ideal for the semiconductor manufacturing process due to its chemical reaction. The product has high thermal conductivity coupled with controlling the temperature of the silicon. These features of the product are anticipated to fuel market growth in the upcoming years. It is used in the electronic sector for its cooling properties. In addition, the product is used in certain semiconductor equipment such as MRI (Magnetic Resonance Imaging). These factors are projected to drive market growth in the forthcoming years. A rise in sales of electronic products and growing need for electronic devices such as smartphones, laptops, PC, and tablets are expected to fuel gaseous helium market growth in the forthcoming years.

Gaseous Helium Market SEGMENTATION

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• By Type

Based on type, the market is divided into grade A and industrial-grade helium.

Industrial-grade helium is expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into welding, leak detection, pressurizing and purging, aerostatics, cryogenics, and others.

Pressurizing and purging is expected to be the top part of application segmentation.

DRIVING FACTORS

"Increased Adoption of the Product in Healthcare Sector to Surge Market Growth "

An increased adoption of gaseous helium in the healthcare sector is predicted to fuel market growth. The product is used in the healthcare sector for treating asthma, emphysema, and other conditions. Rapid development in the healthcare sector coupled with the growing healthcare sector is predicted to boost the market growth. The product can be shaped freely, and it has more efficient than a single crystal. The product is extremely durable and has excellent optical transparency in ultraviolet. It is glassy and crystal-like. These features of the product are anticipated to surge market growth in the forthcoming years. The product is used in essential diagnostic equipment such as MRI’s. In addition, it us used in eye surgery which is projected to fuel market growth.

"Several Usage of the Product and Growing Awareness about the Product to Accelerate Market Progress"

The product is used to detect gas leaks and it is used to cool thermography. It is used to detect and monitor physiological processes by medical personnel. The product is a safe tracer because it is an inert gas. Further, it is used in national defense applications such as testing scientific balloons, rocket engine testing, air-to-air missile guidance system, and surveillance craft. These broad usages of the product are anticipated to fuel market growth. The product is used in Arc welding to create an inert gas shield, and it is used for a safe artificial breathing atmosphere by mixing oxygen and helium. The product is used for growing germanium crystals and silicon as it is a protective gas. Such broad usage of the product is predicted to accelerate market growth in the upcoming years.

RESTRAINING FACTORS

"High Cost of Extraction and Stringent Government Regulations to Limit Market Growth "

The high cost of extraction and stringent government regulations is predicted to hamper market growth in the forthcoming years.

Gaseous Helium Market REGIONAL INSIGHTS

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"Increased Spending Capacity and Rise in Disposable Income to Drive Market Share "

Asia Pacific is anticipated to hold the maximum gaseous helium market share due to the population's increased income and high spending capacity. Growing sales of electronic products in the region and high adoption of the product in the healthcare sector. Increasing demand for helium in the semiconductor and electronics sector is expected to fuel market growth. The chemical is extensively used in the healthcare sector for treating asthma, emphysema, and other conditions. Further, it is used in the defense and aerospace sector. It is also used in NMR and MRI technology as a coolant. Increased use of the product in welding and leak detection applications is anticipated to fuel market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Gulf Cryo (United Arab Emirates)
• Praxair Inc. (U.S.)
• Airgas (U.S.)
• Weil Group Resources, LLC. (U.S.)
• Somatrach (Africa)
• Messer Group GmbH (Germany)
• Gazprom (Russia)
• Air Liquide SA (France)
• Buzwair (U.S.)
• Exxon Mobil Corporation (U.S.)
• Linde AG (Ireland)
• Air Products & Chemicals, Inc. (U.S.)
• PGNiG (PL) (Poland)
• Iwatani Corporation (Japan)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.