The global helium market has been estimated at USD XX. XX billion in 2016 and is projected to reach USD XX.XX billion by 2021, at a CAGR of X.X% during the forecast period.
Helium is the second most abundant element in the Universe; however, sparse on earth. Currently, helium consumed, globally, is extracted from natural gas, which has a low helium concentration. Helium gas is most commonly used in the healthcare industry as a coolant, for the superconducting magnets in MRI. The other end-user industries include aviation & aerospace, electronics and semiconductors, and nuclear power.
The market is mainly driven by the increase in urbanization and industrialization in developing economies like India, China, etc. Other factors include the massive research done in the helium production. However, the market faces certain drawbacks like government regulations, volatile price of helium, and expensive extraction process. These factors may act as a roadblock to the growth of the market.
The helium market, on the basis of phase, is divided into liquid and gas. Liquid helium amounts to 25-30% of the total helium consumed, worldwide. The market can further be segmented by application into cryogenics, breathing mixes, coolant, wielding and rocket fuel. The cryogenic segment had the highest market share, which amounted to 26% of total helium consumption, in 2015.
The market has also been geographically segmented into APAC, North America, Europe, South America, and MEA. In terms of consumption in 2016, MEA and Europe led the market, with a share of 37%, collectively. It was followed by North America and Asia-Pacific. The extensive demand for helium in countries such as India and China, for electronics and semiconductors, has made Asia-Pacific an area of immense potential and opportunities.
Opportunities and Market Players:
The increase in packaging and transport technology and the discovery of huge natural gas deposit, of more than 2 trillion tcf in Tanzania in Feb, 2016, is expected to create opportunities for the growth of global helium market.
Some of the major companies dominating the market for helium production and uses are:
Key Deliverables in the Study