Helium Market Foreseen to Grow Exponentially by 2031

Global Helium Market Introduction

Helium is an extremely durable crystalline advanced industrial material with excellent optical transparency in ultraviolet, visible, and infrared radiations up to approximately five-meter wavelength. It is crystal-like and glassy. Polycrystalline helium is used as an optically transparent material in different forms. It is a derivative obtained from silica-based glass through crystallization. Monocrystalline transparent ceramic is widely used as a substitute for conventional glass. Helium possesses higher thermal resistance than glass or resin and is also stronger and harder. Helium can be shaped more freely and its productivity is more efficient than a single crystal.

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Rise in Demand for Helium in Electronics and Semiconductors Industry Driving Global Market

Helium possesses several properties that are leveraged in the semiconductor manufacturing process. It is an 'inert' gas, i.e. it does not react with other elements. This makes it ideal for usage in chemical reactions that take place during the semiconductor manufacturing process.

Helium also has high thermal conductivity. It conducts heat away effectively. This helps control the temperature of the silicon. This is increasingly important as the dimensions of the circuitry on the silicon continue to shrink. It would be impossible to drive this miniaturization without the process control that helium provides. Finally, helium is used extensively due to its cooling properties. It is a liquid at extremely low temperatures, which allows it to cool magnets to a temperature that optimizes their properties. These magnets are used in certain semiconductor equipment, as well as Magnetic Resonance Imaging (MRI) systems and other medical applications. Thus, increase in demand for helium in the semiconductors industry is expected to drive the global helium market.

Increase in Demand for Helium in Particle Accelerators

Helium is a stable refrigerant that is able to cool things down to thousandths of a Kelvin, or less than minus 450°F ( -267°C). No other coolant can be compared to helium. Liquid helium cools the superconducting equipment in particle accelerators. Accelerators can be several miles long and require cooling all along their bodies. Large amount of helium is used in these accelerators. Once an accelerator is filled with helium, it is able to continually reuse the refrigerant. Therefore, researchers only need to top off the supply to account for the small amount that leaks and drifts away from the accelerator every year. Thus, rise in application of helium in particle accelerators is expected to boost the market in the near future.

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Low Solubility in Water and Blood Propelling Helium Gas Segment

In terms of type, the helium market has been bifurcated into gas and liquid. The helium gas segment held prominent share of the global helium market in 2021. It is anticipated to grow at a CAGR of 4.1% during the forecast period. Helium is used as deep sea diving gas at water depths below 30 m due to its extremely low solubility in water and blood. Helium/oxygen breathing mixtures such as heliair, trimix, and heliox are used instead of nitrogen/oxygen breathing mixtures to avoid nitrogen narcosis or the build-up of nitrogen in blood. Additionally, helium does not cause corrosion to the equipment and is not toxic. It is used as a preferred protective gas due its chemical inertness. Helium is used as cooling gas due its very high specific heat and thermal conductivity in semiconductor manufacturing. Thus, growth of the helium gas segment is expected to drive the helium market during the forecast period.

Regional Outlook of Global Helium Market
In terms of value, Asia Pacific is estimated to be a highly attractive region of the global helium market during the forecast period. The region held 49.2% share of the market in 2021.  Market share of Asia Pacific is expected to increase during the forecasted period. This can be ascribed to the rise in investments in the healthcare industry in the region. Presence of developing economies such as China and India in the region is also likely to drive the helium market in Asia Pacific during the forecast period.

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Europe held 26.0% share of the global market in 2021. The market in Europe is expected to grow at a rapid pace during the forecast period owing to the wide application of helium in the healthcare industry and other industrial activities in the region. Thus, Asia Pacific and Europe are major markets for helium across the globe.

The helium market in North America is likely to witness low attractiveness during the forecast period, while that in Middle East & Africa is projected to witness moderate attractiveness during the forecast period. Growth of the industrial sector in Middle East & Africa is anticipated to drive the helium market in the region during the forecast period.

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Analysis of Key Players in Global Helium Market
The global helium market is highly consolidated, with a small number of large-scale vendors controlling majority of the share. Most of the companies are investing significantly in comprehensive research and development activities. Expansion of product portfolios and mergers and acquisitions are the key strategies adopted by prominent players. The Linde Plc., Axcel Gases, Taiyo Nippon Sanso Corporation, Air Products and Chemicals, Inc., and Messer Group are the prominent entities operating in the market.

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