Helium Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented Phase (Liquid and Gas), Application (Breathing Mixes, Cryogenics, Leak Detection, Pressurizing and Purging, Welding, Controlled Atmosphere, and Other Applications), End-user Industry (Aerospace and Aircraft, Electronics and Semiconductors, Nuclear Power, Healthcare, Welding and Metal Fabrication, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, and Rest of the World). The report offers market size and forecasts for Helium in volume (million cubic feet) for all the above segments.

Market Snapshot

Helium Market - Market Summary
Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

<4 %

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Market Overview

The Global Helium Market size was estimated to be 6,688 million cubic feet in 2020 and the market is projected to register a CAGR of around 4% during the forecast period (2021-2026).

However, due to the COVID-19 outbreak, the aerospace industry took a severe blow, which resulted in the contraction of the aerospace industry in recent times, which negatively affected the growth prospects of helium in aerospace applications. Moreover, aircraft manufacturing companies have also been witnessing a decline in the number of orders compared to previous years, with many aviation companies cutting down on their previous orders. For instance, in July 2020, Avolon canceled its additional 27 Boeing 737 MAX planes order, after it already canceled about 75 of the jet orders in April, with the COVID-19 pandemic affecting its operations. Such trends may impact the new orders during the short and medium term as a result of changes in aviation companies’ investment plans. Similarly, the slowing down of R&D activities due to the economic slowdown and lockdowns due to the COVID 19 outbreak has negatively impacted the growth of the electronics and semiconductor industry in the short term, and thereby the global helium market have been affected adveresely.

  • On the medium term, increasing consumption of helium in the electronics and semiconductor industry and the growing usage in the healthcare industry is likely to stimiulate the market demand. There is a high demand for modern electronic products due to the rapid pace of innovation, the advancement of technology, and R&D activities in the electronics industry. The growth in the number of manufacturing plants and development centers, focusing on high-end products is expected to drive the market studied.
  • However, on the flip-side the high cost of the extraction process and the stringent government regulations concerning helium use are likely to hinder the growth of the market studied.
  • Gas-phase helium dominated the market and is also projected to register the highest CAGR during the forecast period.
  • The development of efficient storage and transport methods for gases is anticipated to provide numerous opportunities over the forecast period.
  • North America dominated the market with the largest consumption, followed by Asia-Pacific and Europe. However, Asia-Pacific is likely to register the highest CAGR through the forecast period.

Scope of the Report

Helium is the second-most abundant element in the universe. Approximately 24% of the galaxy’s elemental mass consists of helium. It is mostly trapped in subterranean natural gas bunkers and is commercially extracted through a method known as fractional distillation. After attaining the required purity, helium is distributed, either in a gas form at normal temperature, or in liquid form at very low temperature. Helium in bulk quantities is usually shipped in unvented, pressurized containers pulled by trucks and tractors for small-scale customers. Whereas, for large-scale customers, helium is transported through pipelines from the closely located processing plants. The helium market is segmented by phase, application, end-user industry, and geography. By phase, the market is segmented into Liquid and Gas. By application, the market is segmented into Breathing Mixes, Cryogenics, Leak Detection, Pressurizing and Purging, Welding, Controlled Atmosphere, and Other Applications. By end-user industry, the market is segmented into Aerospace and Aircraft, Electronics and Semiconductors, Nuclear Power, Healthcare, Welding and Metal Fabrication, and Other End-user Industries. The report also covers the market size and forecasts for the Helium Market in 14 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (million cubic feet).

Phase
Liquid
Gas
Application
Breathing Mixes
Cryogenics
Leak Detection
Pressurizing and Purging
Welding
Controlled Atmosphere
Other Applications
End-user Industry
Aerospace and Aircraft
Electronics and Semiconductors
Nuclear Power
Healthcare
Welding and Metal Fabrication
Other End-user Industries
Geography
Production Analysis
United States
Qatar
Algeria
Australia
Poland
Russia
Other Countries
Consumption Analysis
Asia-Pacific
China
India
Japan
South Korea
Australia and New Zealand
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
Italy
United Kingdom
Russia
Rest of Europe
Rest of the World
South America
Middle-East and Africa

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Key Market Trends

Healthcare Sector to Dominate the Market

  • Helium has a wide range of uses in the healthcare industry. It can reach a temperature of -269° C, making liquid helium the best option for cooling the magnets of MRI machines. Helium is also being used for breathing observation. It is an essential component in treating emphysema, asthma, and other conditions that affect breathing.
  • The gas is usually used to treat lung diseases. Oxygen and helium are used together for the treatment of acute and chronic forms of respiratory ailments, as the combination reaches the lungs faster than all the others. There is no substitute for helium in cryogenic helium applications.
  • The demand for helium in the healthcare sector is increasing, owing to the rising demand for MRI scans. MRI has also seen growing applications in cancer screening and neurology.
  • Geographically, helium finds the largest amount of use in the North American healthcare sector. The United States and Canada spend a major share of their GDP on healthcare. The Medicaid enrollment rate in the United States increased in 2019, owing to the Affordable Care Act and implementation of continuous Medicaid expansion. Furthermore, the COVID-19 outbreak is expected to contribute to the projected increase in healthcare spending, thereby, increasing the demand for the helium market in the forthcoming years.
  • Similarly, healthcare has become one of the largest sectors in India, due to its strengthening coverage, services, and increasing expenditure by public, as well as private players. Liberalization of government policies has also enabled 100% FDI in the medical devices market, and thus, a number of multi-national companies are looking forward to establishing their manufacturing bases in the country.
  • Such factors are likely to increase the demand for helium over the forecast period.
Helium Market - Segmentation Trends

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North America Region to Dominate the Market

  • North America accounted for the largest share of the market, with the United States alone consuming a share of 30% of the global market.
  • The US electronics market is the largest market in the world, in terms of size. Furthermore, it is expected to remain the leading market over the forecast period, due to the application of advanced technology, an increase in the number of R&D centers and increasing demand from the consumers.
  • There is a significant increase in the number of manufacturing plants and development centers in the United States, primarily due to the focus on developing high-end products. This is expected to boost the demand for helium over the forecast period.
  • Moreover, the United States has the largest aerospace industry in the world. According to the Federal Aviation Administration (FAA), the total active general aviation fleet is expected to increase from 212,885 in 2018 to 211,575 aircraft by 2039, owing to the growth in air cargo. This is likely to increase the usage of helium in the country.
  • Additionally, MRI diagnostics is a growing field, both in terms of the number of installed scanners and the number of scans being performed. Based on data by OECD, the United States is one of the leaders in MRI, second only to Japan, both in terms of availability and utilization.
  • The Canadian consumer electronics industry experienced growth and grabbed new opportunities in the key product category, as Canadians are valuing new product innovations. With this, the demand for and production of semiconductors are also expected to increase in the country. The revenue of the home appliances market was valued at about USD 1.3 billion in 2018, and it is expected to reach approximately USD 2 billion by 2022. This exciting scenario is quite instrumental in fueling the market demand for helium in electronic applications of the country. The key factor driving the growth of this industry is the improved network connectivity in the country.
  • Such aforementioned factors are expected to increase the demand for helium during the forecast period.
Helium Market - Regional Trends

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Competitive Landscape

The global market for helium is highly consolidated, with the top five players accounting for over 75% of the total market. The major players in the market include Air Liquide, Linde plc, Matheson Tri-Gas Inc., Iwatani Corporation, and Messer Group, among others.

Recent Developments

  • In June 2019, Renergen raised about AUD 10 million for the Virginia Gas Project. It will fund a feasibility study for the commercialization of the high concentration helium reserves contained in the Virigina Gas project’s prospective sandstone deposit.
  • In Mar 2019, Messer acquired the majority of Linde AG’s gases business in North America and Linde and Praxair's business activities in South America.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Consumption in the Electronics and Semiconductor Industry

      2. 4.1.2 Increasing Use in Healthcare Industry

    2. 4.2 Restraints

      1. 4.2.1 Expensive Extraction Process

      2. 4.2.2 Stringent Government Regulations Concerning Helium Use

      3. 4.2.3 Unfavorable Conditions Arising due to the Impact of COVID-19

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size by Volume)

    1. 5.1 Phase

      1. 5.1.1 Liquid

      2. 5.1.2 Gas

    2. 5.2 Application

      1. 5.2.1 Breathing Mixes

      2. 5.2.2 Cryogenics

      3. 5.2.3 Leak Detection

      4. 5.2.4 Pressurizing and Purging

      5. 5.2.5 Welding

      6. 5.2.6 Controlled Atmosphere

      7. 5.2.7 Other Applications

    3. 5.3 End-user Industry

      1. 5.3.1 Aerospace and Aircraft

      2. 5.3.2 Electronics and Semiconductors

      3. 5.3.3 Nuclear Power

      4. 5.3.4 Healthcare

      5. 5.3.5 Welding and Metal Fabrication

      6. 5.3.6 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Production Analysis

        1. 5.4.1.1 United States

        2. 5.4.1.2 Qatar

        3. 5.4.1.3 Algeria

        4. 5.4.1.4 Australia

        5. 5.4.1.5 Poland

        6. 5.4.1.6 Russia

        7. 5.4.1.7 Other Countries

      2. 5.4.2 Consumption Analysis

        1. 5.4.2.1 Asia-Pacific

          1. 5.4.2.1.1 China

          2. 5.4.2.1.2 India

          3. 5.4.2.1.3 Japan

          4. 5.4.2.1.4 South Korea

          5. 5.4.2.1.5 Australia and New Zealand

          6. 5.4.2.1.6 Rest of Asia-Pacific

        2. 5.4.2.2 North America

          1. 5.4.2.2.1 United States

          2. 5.4.2.2.2 Canada

          3. 5.4.2.2.3 Mexico

        3. 5.4.2.3 Europe

          1. 5.4.2.3.1 Germany

          2. 5.4.2.3.2 France

          3. 5.4.2.3.3 Italy

          4. 5.4.2.3.4 United Kingdom

          5. 5.4.2.3.5 Russia

          6. 5.4.2.3.6 Rest of Europe

        4. 5.4.2.4 Rest of the World

          1. 5.4.2.4.1 South America

          2. 5.4.2.4.2 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Air Liquide

      2. 6.4.2 Air Products and Chemicals, Inc.

      3. 6.4.3 Exxon Mobil Corporation

      4. 6.4.4 Gazprom

      5. 6.4.5 Gulf Cryo

      6. 6.4.6 Iwatani Corporation

      7. 6.4.7 Linde Plc

      8. 6.4.8 Matheson Tri-Gas Inc.

      9. 6.4.9 Messer Group GmbH

      10. 6.4.10 NexAir LLC

      11. 6.4.11 PGNIG SA

      12. 6.4.12 Qatargas Operating Company Limited

      13. 6.4.13 Renergen

      14. 6.4.14 Weil Group

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Development of Efficient Storage and Transport Methods for Gases

    2. 7.2 Huge Reserve of Natural Gas Found in Tanzania

**Subject to Availability

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Frequently Asked Questions

The Helium Market market is studied from 2016 - 2026.

The Helium Market is growing at a CAGR of <4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2019.

  • Air Products and Chemicals Inc.
  • Air Liquide
  • Linde Plc
  • Matheson Tri-Gas Inc.

Are the major companies operating in Helium Market.

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