Press release
Helium Industry to See Robust Expansion, Valued at $7.27 Billion by 2029
Helium
What Is the Projected CAGR for the Helium Market from 2024 to 2025?
The helium market has witnessed significant expansion in the past few years. Its size is predicted to escalate from $5.19 billion in 2024 to $5.55 billion in 2025, registering a compound annual growth rate (CAGR) of 7.0%. The growth during the historic period is owed to vibrant economic development in emerging markets, heightened demand for chemical goods, and a surge in demand for bio-based dispersants.
What are the Expected Market Size and CAGR for Helium by 2029?
The helium market is projected to experience substantial growth in the upcoming years, expanding to $7.27 billion by 2029 with a compound annual growth rate (CAGR) of 7.0%. This growth during the forecast period can be associated with factors such as governmental backing, advancement in polymerization methods, an escalation in the demand for water-based dispersants, and increasing urbanization. Key trends anticipated within the forecast span are adoption of IoT technology by helium manufacturers, the employment of helium-filled hard drive technology, an upsurge in production capability, product innovation, and partnerships and collaborations.
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Which Factors Are Driving the Global Helium Market Expansion?
The expansion of the helium market is anticipated due to the increasing needs of the healthcare sector. Helium, in its unique properties of being inert, non-reactive with different elements, non-corrosive and non-combustible, is extensively employed in a variety of disease diagnosis apparatus. Its usage in the healthcare sector spans across various applications including adjunct therapy in ailments such as asthma exacerbation, ARDS, croup, COPD, and bronchiolitis. For example, helium is pivotal in the operation of magnetic resonance imaging (MRI) machines to control the strong magnets, which are instrumental in observing various conditions in the abdominal, chest, and pelvic region. They also play a significant role in diagnosing pregnancies.
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Which Segment Currently Holds the Largest Share of the Helium Market?
The helium market covered in this report is segmented -
1) By Type: Liquid Helium, Gaseous Helium
2) By Application: Breathing Mixes, Cryogenics, Leak Detection, Pressurizing and Purging, Welding, Controlled Atmosphere, Other Applications
3) By End User: Healthcare, Welding And Metal Fabrication, Electronics And Semiconductors, Laboratory, Lifting And Balloons, Other End-Users
Subsegments:
1) By Liquid Helium: Cryogenic Applications, Scientific Research
2) By Gaseous Helium: Industrial Applications, Medical Applications, Party Balloons And Inflatable Products, Electronics Manufacturing, Other Uses
Which Major Trends Are Shaping the Future of the Helium Industry?
The reduction of existing helium sources, particularly those under the purview of the US Bureau of Land Management (BLM), has prompted industrial gas businesses and distributors to explore fresh helium sources such as the extraction of helium from non-hydrocarbon origins. This process involves the generation and sale of helium as a single profit channel or one of the principle profit channels. For instance, Rex Canon, the CEO of IACX Energy, highlighted at the Global Helium Summit that if there were an alternative non-hydrocarbon gas available for commercial production and sale, like carbon dioxide, these gas fields with less than 0.6% helium content could have been utilized for secondary helium production and sales. He also stated that due to the dwindling BLM supplies, non-hydrocarbon helium sources served as viable alternatives to the conventional LNG flash gas and NRU off-gas sources.
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Which Key Players Dominate the Helium Industry Globally?
Major companies operating in the helium market include Air Products and Chemicals, Inc, Air Liquide S.A, Iwatani Corporation, Messer Group GmbH, Qatargas Operating Company Limited, Gulf Cryo, Air Water Inc, Axcel Gases, Nippon Helium Inc, Taiyo Nippon Sanso Corporation, The Linde Group Air Products, Chemicals Inc, Anhui Clean Energy Co., Ltd, Chengdu Taiyu Industrial Gases Co., Ltd, Hubei Daly LPG Cylinder Manufacturer Co., Ltd, Jiangsu Hongren Special Gas Co., Ltd, Qingdao Baigong Industrial and Trading Co., Ltd, Air Products Italia S.r.l, Basi Schoberl GmbH & Co. KG, Riessner-Gase GmbH, RealGas LLC, Cylinders Holding A.S, Cryoin Engineering Ltd, Galo Gas, Elme Messer K, Matheson Tri-Gas Inc, ExxonMobil, Chevron, ConocoPhillips, EOG Resources, Phillips 66, National Iranian Oil Company, Bristol Specialty Gases, Middle East Gases, Abu Dubai National Oil Company, Petrofac International Sharafco Group Companies, Ghazanfer Group, Al Mansoori Abu Dubai, Emirates Lube Oil Company, Lootah BC Gas, Renergen (RLT), My Gas (Pty) Ltd
What Are the Fastest-Growing Regions in the Helium Market?
Asia-Pacific was the largest region in the helium market in 2024. North America was the second-largest region in the global helium market. The regions covered in the helium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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