Helium Market Size to Reach USD 6.10 Billion by 2034, Driven by Semiconductor, Healthcare, and Cryogenic Applications

Helium Market Overview:

Helium, a rare and nonrenewable inert gas, plays a vital role across multiple industries such as healthcare, electronics, aerospace, and food processing. Its unique characteristics, including non-flammability, low boiling point, and inertness, make it indispensable in applications where precision, purity, and cooling efficiency are paramount.

According to Straits Research, the global helium market size is estimated at USD 4.12 billion in 2025 and is projected to reach USD 6.10 billion by 2034, growing at a CAGR of 4.5% during the forecast period.

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Key Market Drivers

The helium market's growth trajectory is primarily supported by its widespread adoption in the healthcare and semiconductor industries. In healthcare, helium's use in MRI scanners and as a breathing gas mixture continues to drive demand. The semiconductor industry relies heavily on helium for cooling processes and leak detection, essential to maintaining manufacturing quality for advanced microchips and fiber optics.

A major growth driver also comes from the food industry, where helium is used in modified atmosphere packaging (MAP) to replace oxygen, thereby extending the shelf life of perishable products. As global consumers increasingly demand fresh and minimally processed foods, the use of helium in packaging continues to expand.

Governments across Asia, Europe, and North America are also investing in semiconductor self-reliance and aerospace research, which further amplifies helium demand in precision cooling and leak-detection systems.

Segmental Overview

By phase, the gaseous helium segment dominates the market, holdinga 65% share in 2025. This segment is widely used for leak detection, breathing applications, welding, and analytical processes. The liquid helium segment is projected to grow at the fastest rate of 5.7% through 2034, primarily due to its critical role in cryogenics and superconductivity applications.

By application, cryogenics leads with over 32% share, reflecting helium's importance in cooling superconducting magnets, MRI scanners, and particle accelerators. The lifting segment, used in balloons, airships, and atmospheric research, is projected to record a 6.45% CAGR, emerging as the fastest-growing category.

In terms of end use, the healthcare sector holds approximately 29% share, driven by the increasing use of helium in medical imaging and respiratory therapies. The electronics and semiconductor industries are expected to witness the strongest growth, given the critical role of helium in precision manufacturing, plasma cooling, and fiber optic cable production.

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Emerging Trends and Opportunities

The global helium market is undergoing a transformation led by recycling and recovery technologies. Since helium is a finite natural resource, industries are increasingly adopting helium recovery and reliquefaction systems to improve efficiency and sustainability. Companies are investing in advanced systems that capture and reuse helium from cryogenic and research operations, helping mitigate supply shortages.

Another key trend is the integration of carbon capture technologies into helium production facilities. This initiative is helping producers minimize greenhouse gas emissions while ensuring stable helium supply chains. Collaborations between helium producers and clean technology companies are setting a new benchmark for environmentally responsible production.

At the same time, technological innovation in helium-free MRI scanners poses a challenge to traditional helium consumption patterns. Leading imaging manufacturers have developed helium-free systems that reduce dependency on liquid helium, potentially reshaping demand dynamics in the healthcare sector. However, given the growing number of MRI installations worldwide, helium will remain essential for high-performance and superconducting imaging systems in the near term.

Regional Insights

North America currently leads the global helium market, accounting for over 30% of total revenue in 2025. Strong demand from healthcare, aerospace, and research institutions underpins regional dominance. The United States continues to be the single largest market, supported by extensive R&D activities and established helium extraction facilities.

Asia Pacific is forecast to be the fastest-growing region, with an expected CAGR of 6.87% during 2026-2034. Rapid industrialization, expanding electronics manufacturing, and rising healthcare investments across China, India, Japan, and South Korea are key growth factors. National initiatives promoting domestic chip production and food security are also adding momentum.

Europe shows steady growth due to rising aerospace applications and industrial gas demand, while the Middle East and Africa are emerging as niche helium consumers in the pharmaceutical and analytical sectors. Latin America is also witnessing increased adoption in electronics and advanced manufacturing industries, strengthening its position in the global supply network.

Competitive Landscape

The global helium market is moderately consolidated, with a few major players dominating global supply. Key companies include Air Products and Chemicals, Linde PLC, Air Liquide, Messer Group, ExxonMobil, and Gulf Cryo. These players leverage advanced extraction technologies, global logistics networks, and long-term supply contracts to maintain market leadership.

Emerging companies such as Desert Mountain Energy are contributing to new helium discoveries and production efficiency. The company's exploration efforts have led to multiple high-grade helium wells and recent funding to expand operations. Similarly, Blue Origin has collaborated with quantum technology firms to source helium-3 for specialized applications, underscoring the gas's growing importance in advanced computing and scientific research.

Recent industry initiatives include:

Development of helium recovery and reliquefaction systems for research and industrial use.
Expansion of helium infrastructure across the U.S. and Asia to meet semiconductor demand.
Integration of carbon capture systems to reduce emissions in helium extraction plants.
Investment in quantum computing research and aerospace applications, where helium remains indispensable.

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Expert Insights

"Helium is transitioning from a traditional industrial gas to a strategic resource essential for next-generation technologies," said Vrushali Bothare, Research Practice Lead at Straits Research. "With rapid advances in quantum computing, semiconductor manufacturing, and cryogenics, helium will continue to play a critical enabling role for decades to come."

Outlook

The helium market's evolution is being shaped by three major forces: technological innovation, sustainability, and supply diversification. Companies investing in recycling systems, carbon capture, and regional production facilities stand to gain a competitive edge. Simultaneously, governments' strategic initiatives in semiconductors, aerospace, and healthcare infrastructure are expected to create a strong and sustained demand base.

As industries pivot toward high-performance materials, superconducting technologies, and precision manufacturing, helium will remain an essential enabler of innovation worldwide.

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