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Future Perspectives: Key Trends Shaping the Helium Market Up to 2029
Helium Market
Projected Market Growth and Size of the Helium Market
The helium market is expected to experience significant growth by 2029, reaching a valuation of $7.27 billion. This growth corresponds to a compound annual growth rate (CAGR) of 7.0% over the forecast period. Factors contributing to this expansion include supportive government policies, advancements in polymerization techniques, increased demand for water-based dispersants, and accelerating urbanization worldwide. Additionally, emerging trends such as the adoption of Internet of Things (IoT) technology by helium producers, the use of helium in hard drive technology, capacity expansions, product innovations, and strategic partnerships are poised to drive further market development.
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Top Companies Leading the Helium Market
The helium market features several prominent players that dominate the industry landscape. These 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, and The Linde Group Air Products, Chemicals Inc. Other significant companies include Anhui Clean Energy Co., Ltd, Chengdu Taiyu Industrial Gases Co., Ltd, Hubei Daly LPG Cylinder Manufacturer Co., Ltd, and Jiangsu Hongren Special Gas Co., Ltd. Additional notable participants are 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, and National Iranian Oil Company. The market also includes specialized gas providers such as 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), and My Gas (Pty) Ltd.
Strategic Acquisition Expanding Helium Supply
In a significant move in September 2023, Air Water America Inc., a chemical manufacturing company based in the United States, acquired American Gas Products LLC. Although the financial details were not disclosed, this acquisition strengthens Air Water America's helium supply capabilities, broadens its market presence, and diversifies its gas product lineup. American Gas Products LLC specializes in supplying helium gas, propane, medical gases, industrial gases, and welding products across the U.S. This strategic purchase positions Air Water America for increased growth and enhanced reliability within the helium and industrial gas sectors.
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Emerging Trends Highlighting Shifts in Helium Sourcing
With existing helium supplies, especially those managed by the US Bureau of Land Management (BLM), steadily declining, companies in the industrial gas sector are turning to alternative sources. One such approach gaining traction is the production of helium from non-hydrocarbon origins. This method either focuses solely on helium production or includes it as a key revenue stream alongside other gases. At the Global Helium Summit, Rex Canon, CEO of IACX Energy, emphasized that fields containing non-hydrocarbon gases like carbon dioxide, even with helium content below 0.6%, could be viable for helium extraction as a secondary product. He pointed out that as BLM supplies diminish, helium sourced from non-hydrocarbon origins offers a promising alternative to conventional sources such as LNG flash gas and NRU off-gas.
Key Market Segments Driving Helium Demand
This report categorizes the helium market into several vital segments to better understand its demand drivers. The market is divided by type, application, and end-user sectors. By type, the helium market includes liquid helium and gaseous helium. Application-wise, it covers breathing mixes, cryogenics, leak detection, pressurizing and purging, welding, controlled atmosphere, and other uses. End users span across healthcare, welding and metal fabrication, electronics and semiconductor industries, laboratories, lifting and balloons, as well as other sectors.
Detailed Subsegments Within the Helium Market
Focusing on subsegments, liquid helium is primarily used in cryogenic applications and scientific research. Meanwhile, gaseous helium finds applications in industrial uses, medical fields, party balloons and inflatable products, electronics manufacturing, and various other purposes. This segmentation highlights the diverse roles helium plays across different industries, underpinning its sustained demand and market potential.
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