by The global Gaseous and Liquid Helium Market is estimated to be valued at US$ 7.05 Bn or billion in 2023 and is expected to exhibit a CAGR of 22.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Helium is an indispensable industrial gas used across diverse applications including MRI, semiconductor manufacturing, fiber optics, research laboratories, health care, welding, and cryogenics, among others. It is an inert, non-reactive, and light gas having the ability to help MRI machines and gas balloons work. It serves as a critical coolant and protects sensitive equipment from oxidation during the manufacturing of semiconductors. The unique physical and chemical properties of helium make it vital for various applications driving its rising demand worldwide.
Market key trends:
One of the major trends in the gaseous and liquid helium market is the emerging applications of helium in new technologies. Helium finds increasing usage in quantum computing as a coolant to achieve extremely low temperatures required for qubit operation. It is also being utilized in neon signs as an inert gas filler to generate bright lighting effects. Moreover, helium’s lifting capability is augmenting its application in airships and aerostats for defense and civilian purposes. The rapid development of these new applications is expected to upsurge helium consumption, thereby propelling the market growth over the forecast period. Additionally, increasing research activities exploring novel helium applications will further support the positive market outlook.
Porter’s Analysis
Threat of new entrants: The gaseous and liquid helium market requires high capital investments in infrastructure such as extraction facilities, transportation and storage tanks. This poses significant barriers for new companies to enter the market.
Bargaining power of buyers: The buyers in the market include industrial gases companies and end-use industries such as healthcare, electronics and aerospace. Their bargaining power is moderate as helium has limited substitutes and demand is increasing rapidly.
Bargaining power of suppliers: Major suppliers such as Qatar, Algeria and the US have substantial control over global helium supplies. Fluctuations in crude helium prices directly impact the market.
Threat of new substitutes: Currently there are no cost-effective or widely available substitutes for helium in most applications. Ongoing research is trying to develop substitutes but this threat remains low.
Competitive rivalry: The market is moderately competitive with the presence of large multinational players. Companies compete on factors like reliability of supply, product quality, and pricing.
Key Takeaways
The Global Gaseous And Liquid Helium Market Size is expected to witness high growth, exhibiting 22% CAGR over the forecast period 2023 to 2030, due to increasing demand from healthcare sector for MRI scans and application in semicon materials and fiber optics.
Regional analysis: North America dominates currently with a share of over 35% attributed to large reserves in the US. Asia Pacific is the fastest growing region owing to rapid industrialization and demand from electronics industry. China is emerging as a key consumer market for helium.
Key players operating in the gaseous and liquid helium market are Air Products and Chemicals, Inc., Linde plc, Praxair, Inc. (now part of Linde), Air Liquide S.A., Gazprom, RasGas (now part of Qatar Petroleum), ExxonMobil Corporation, Matheson Tri-Gas, Inc., Iwatani Corporation, Messer Group GmbH.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
