Gaseous and Liquid Helium Market Current Conditions and Future Outlook Analysis 2024 - 2031 | Air Products and Chemicals, Inc., Linde plc

Market Overview:

The global gaseous and liquid helium market size was valued at US$ 7.05 billion in 2023 and is projected to reach US$ 29.87 billion by 2030 at a CAGR of 22.9% during the forecast period, 2023-2030.

Market Dynamics:

The gaseous and liquid helium market is expected to grow at a significant rate during the forecast period. This is owing to increasing demand from healthcare sector. Helium plays a vital role as carrier gas in MRI machines used for medical imaging. Another factor fueling the market growth is rising use of liquid helium in manufacturing of semiconductors and fiber optics. Helium facilitates ultra-low temperature processes in fabrication of these components. Furthermore, increasing investments in research studies involving cryogenic applications will contribute to the market expansion over the coming years.

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Increasing use of liquid helium for MRI and NMR machines is driving the gaseous and liquid helium market

Liquid helium finds widespread application as a coolant in MRI and NMR machines. With increasing prevalence of various diseases and growing healthcare spending, the demand for MRI and NMR diagnostic machines is rising substantially across the globe. According to various estimates, over 50,000 MRI machines and 60,000 NMR instruments are currently in use worldwide. Furthermore, developing economies in Asia Pacific and Latin America are witnessing higher installation rates of these machines to meet the growing need for advanced diagnostics. The expansion of healthcare infrastructure and rising accessibility is expected to propel the usage of MRI and NMR technologies going forward. Since each machine requires periodic refilling of liquid helium to sustain ultra-low temperature operation, the utilization in medical sector acts as a key growth driver for the global gaseous and liquid helium market.

Emerging renewable helium production methods can offer new opportunities

To overcome the issues arising from diminishing natural reserves, research organizations as well as private companies are engaged in the development of renewable helium production technologies. Experimental pathways like helium extraction from uranium deposits and nuclear fission, production from lunar minerals, and underground mineral gasification are being explored. Furthermore, approaches involving helium reclamation from the exhaust of gas-cooled nuclear reactors also hold promise. If commercialized successfully at scale, these renewable helium sourcing methods can ensure long-term supply security and stabilize prices in the market. They present lucrative opportunities for investments and cooperation between private industrial stakeholders and research institutes. Continuous technology advancement in this arena can help address the critical supply-chain challeRising focus on sustainable usage and conservation practices is a key trend

With the recognized potential scarcity of helium in the coming decades, there is a rising industry-wide trend of prioritizing sustainable usage and conservation practices. Stakeholders are exploring various strategies to minimize wastage and recover helium from different application sites. For instance, the development of closed-loop processes involving helium recovery and purification is gaining prominence. Similarly, the implementation of leak detection and material recycling programs can help augment conservation efforts. Some end-users are also optimizing equipment designs to reduce helium consumption. The growing trend of sustainability underscores the need for innovative business models involving secondary helium markets and recycling infrastructure development. It will remain a defining factor influencing strategies and investments across the helium supply chain in the future.

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Top Companies Included in This Report:

★ 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

Market Segmentation:

By Product Type:

★ By End-Use Industry: Healthcare and Medical, Electronics and Semiconductors, Aerospace and Defense, Energy and Power, Automotive, Research and Development, Other Industrial Sectors
★ By Distribution Method: Bulk Supply, Cylinder and Packaged Gas Distribution, On-Site Generation

By Applications:

★ By Application: Cooling and Cryogenics, Welding and Cutting, Leak Detection, Breathing Mixtures, Fiber Optics, Manufacturing, Semiconductor Manufacturing, Other Industrial Applications

Key Regions/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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The report offers insights on the following topics:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Competitor Landscape of the Gaseous and Liquid Helium Market by Players

Chapter 4: Market Size of the Gaseous and Liquid Helium Market by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, Recent Developments, and Investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Analysis of Value Chain and Sales Channels, including notable product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

Ultimately, the Gaseous and Liquid Helium Market report serves as a reliable source for acquiring market research to significantly enhance your business. It furnishes essential insights into regional economic conditions, product pricing, profitability, capacity, production, supply, demand, market growth rate, and forecasts. Additionally, the report includes a SWOT analysis, investment feasibility analysis, and return on investment analysis for new projects within the Gaseous and Liquid Helium industry.

Should the aforementioned report not meet your precise requirements, we offer customized research tailored to comprehensively address your specific business needs. Our customized research will encompass all the pertinent business information necessary to assist you in making strategic and profitable business decisions.

Author Bio:

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