Why the Helium Market is Set to Explode? Major Key Players are Air Liquide, Oil and Gas Exploration Company Krakow Ltd, Messer Group, Matheson Tri-Gas, ExxonMobil, ONEOK, Qatargas Operating Company Limited, Qatargas

The growing investments in research and development (R&D) for helium-based devices is a key trend impacting the global helium market. For instance, there is ongoing research to employ supercooled helium for improved global positioning system (GPS) in submarines and airplanes. The research funded by the National Aeronautics and Space Administration (NASA) and the National Science Foundation is expected to work upon helium-4, cooled to nearly the absolute zero temperature, thereby rendering helium to become a frictionless fluid and develop an ability to produce auditory sensations. The research aims to envisage usage of this property in making sensitive gyroscopes for better navigation in submarines and airplanes.

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The helium market is classified on the basis of phase into liquid and gas. Larger share is attributed to gas-based consumption in the market. Gaseous helium is majorly employed in welding. It provides an inert gas shield to protect the weld zone from the external atmosphere. Two major welding processes that use helium are gas tungsten arc welding (GTAW) and gas metal arc welding (GMAW). Other adoption areas of gas-based helium include pressuring and purging, fiber optics, semiconductors, leak detection, and as a heat transfer medium.

The demand for liquid helium in medical equipment and devices is majorly dominated by its adoption in MRI and NMR machines. During operation, MRI scanners require liquid helium to cool their superconductive magnet coils to a lower temperature. Moreover, the extremely low boiling point of helium allows it to be chosen for cryogenic experiments. Currently, for commercially available superconducting magnets employed in NMR spectroscopy, helium is the only material available to maintain the low temperature necessary for generating the superconducting effect. With increasing access to healthcare facilities across the globe, the demand for adoption of the element is also likely to propel the helium market.

The growth in helium market is moderately restrained by high cost of extraction and transportation of the gas, thereby rendering the business as highly capital-intensive. The logistics for transporting helium are complex and account for high cost due to the requirement of dedicated cryogenic containers for hauling and transport. Moreover, storage of helium also requires complex tanks that have double-walled pressure containers with multi-layer vacuum insulation and external radiation shield chilled with liquid nitrogen to regulate the storage quantity.

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Helium is a colorless, odorless, non-corrosive, non-toxic, and non-combustible gas mainly produced or sourced from natural gas wells. The gas also occurs naturally in air, in extremely minute concentration by its release during radioactive decay of uranium. Helium is the second lightest and the second most abundant element in the observable universe, constituting nearly 24% of the total elemental mass. The entire global helium supply depends on roughly 20 liquefaction plants, located in countries such as the U.S., Poland, Russia, Algeria, Qatar, China, and Australia. In the report, the helium market is segmented on the basis of phase, application, end-use industry, and region.

Some of the other major players operating in the global helium market are Air Liquide, Messer Group, Polish Oil and Gas Company, Iwatani Corporation, Exxon Mobil Corporation, Matheson Tri-Gas, ONEOK Inc., and Qatargas Operating Company Limited.

The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Russia, Japan, China, India, Indonesia, Brazil, Saudi Arabia, and South Africa.

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