Liquid Helium Market Size, Share, Growth and Industry Analysis by Type (Merchant, Packaged, And, On-Site), By Application (Artificial Air, Shielding Gas, Airship, And, Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Liquid Helium Market REPORT OVERVIEW

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The global liquid helium market size was USD 2209.94 million in 2021 and market is projected to touch USD 4567.3 million by 2031, at a CAGR of 7.53% during the forecast period.

Liquid helium can be defined as the presence of helium at very low temperatures. As the temperature gets cooler and cooler helium gets converted from its gaseous state it liquid state. Another name given to helium when it is present in its liquid state is superfluid. This chemical is used for various needs and purposes.

Helium is being used in some of the most technologically advanced sectors like welding, pressure and purging, medicine, and cryogenics due to its versatility.  This can be identified as the latest trend in the market.

Helium has a property where it can reach up to very low temperature. Magnetic Resonance Imaging (MRI) and NRM or nuclear magnetic resonance spectrometry are done with the help of liquid helium. These factors are collectively driving the liquid helium market growth.

COVID-19 impact: Reduction in Demand for Electronics and Semiconductor Industry Decreased Market Growth

The pandemic of COVID-19 was one such disease that created both health and financial crisis globally. Due to the rapidly spreading virus strict rules of social distancing and lockdowns were imposed by the government. The imposition of lockdowns became the major obstacle for the functioning of several industries.

Both semiconductor and electronics market faced the same problem. With a considerable reduction in the demand for products manufacturing of finished products also decreased. Helium in its liquified state is prominently used in both the electronics and semiconductor market. With the downfall of these sectors during pandemic, the liquid helium market faced losses.

LATEST TRENDS

"Versatile Nature of Liquid Helium to Increase Market Growth"

Helium is one of the most essential elements that is present on this earth. Helium which is available in both gaseous state and liquid state is employed in several industries due to its exceptional features.  

This element is being used in some of the most technologically advanced sectors like welding, pressure and purging, medicine, and cryogenics. Liquid helium is not limited to be used only in the above-mentioned sectors. Along with being included in the electronics and semi-conductor market, it has become a prominent part of the aerospace industry. The versatile nature of liquid helium is enabling it to be used in a lot of industries, driving its demand globally.

Liquid Helium Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following categories:

Merchant, packaged, and, on-site. The merchant segment is expected to hold the dominant market share through 2031.

• By Application:

Classification based on application into the following categories:

Artificial air, shielding gas, airship, and, others. The artificial air segment is predicted to dominate the market through 2031.

DRIVING FACTORS

"Unique Properties Helium to Amplify Market Growth"

Helium is a noble gas and is identified as an element with unique properties. This element has certain features that no other compound, or element has. Therefore, it forms a very important part of the cryogenic industry.

Within the cryogenic industry, liquid helium is used for performing heat transfer, lifting and analytical applications, shielding, and leak detections. Helium has a property where it can reach up to temperature which is as low as -261.1 degree Celsius. No other substance can replace helium in this aspect. As a result, helium in its liquid form is used experiments or situations which involve extremely cold temperatures. All of these factors are propelling the liquid helium market share.

"Several Applications of Liquid Helium in Medical Sector to Develop Market Growth"

Helium one such substance that is extensively used in the medical sector. This element has numerous applications in the healthcare segment. MRI or Magnetic Resonance Imaging is a medical procedure which is carried out with the help of helium in its liquified state.

As helium can reach very low temperatures, it is used for refrigerating superconducting magnets and its components. Superconducting magnets form a very crucial part of many medical devices. Apart from this helium is also very frequently used in space exploration projects, NRM or nuclear magnetic resonance spectrometry, and quantum computing.

RESTRAINING FACTOR

"Complications Involved in Liquification of Helium to Decrease Market Growth"

Helium in its liquid state has more applications when compared to helium in gaseous state. It is liquid helium that is very prominently used in sectors like healthcare, aerospace, and cryogenic industry. However, liquefying helium is very difficult and complex.   

Helium is an inert. Due to the presence of exactly the required number of electrons in its outermost or valence shell, it does not easily react with other elements. Helium is also characterized with very low density and high cost. All of these factors can together deteriorate the liquid helium market growth.

Liquid Helium Market Regional Insights

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"Asia Pacific to Dominate Market Growth During Research Period"

It has been observed that Asia Pacific is going to hold he largest share of the market during forecast period. The main reason for the prominent growth of helium industry in this region is the development of high-end industries like medicine, aerospace, electronics, and semiconductors.

Countries like India, China, and Japan are densely populated and have extensive healthcare systems. Liquid helium is employed in the medical industry of such nations. The unique properties of helium make it compatible to be used in several researches and experiments. All of these factors have contributed in making Asia Pacific the largest share holder of the market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position in the recent days. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market. Key market players have adopted unique strategies to flourish in the market. Many new innovations and changes are being seen in the market.

List of Market Players Profiled

• RasGas (Qatar)
• PGNiG (Poland)
• Praxair (U.S.)
• Air Liquide (France)
• Gazprom (Russia)
• Air Product (U.S.)
• Exxon (U.S.)
• Linde (Ireland)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also provides information about some of the top industry players in the market.