The global helium market was valued at XX million cubic meter in 2016 and is projected to reach XX.XX million cubic meter by 2022, at a CAGR of XX% during the forecast period 2017-2022.
The global helium market was valued at USD XX.XX million in 2016 and is projected to reach USD XX.XX million by 2022, at a CAGR of XX.X% during the forecast period 2017-2022.
Helium is the second most abundant element in the universe; however, it is scarce on earth. Currently, helium 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. Other end-user industries of helium include aviation & aerospace, electronics & semiconductors and nuclear power.
The market is mainly driven by the increase in urbanization and industrialization in developing economies of India, China, etc. Other factors that influence market growth include the massive research done in helium production. However, the market faces certain drawbacks, such as 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 is divided on the basis of phases into liquid and gas. Liquid helium amounts to 25-30% of the total helium consumed, worldwide. The market is further segmented by application into cryogenics, pressuring & purging, breathing mixes, controlled atmospheres, wielding cover gas, leak detection and others. The cryogenic segment had the highest market share, which amounted to XX% of total helium consumption in 2016. In the global helium market report, we have taken the following major end-user sectors into consideration: aviation, aerospace, electronics & semiconductors, nuclear power, health care and others. The report also consists of the production analysis of major countries.
Asia-Pacific, North America, Europe and rest of the world are the geographical regions taken into consideration for this study. In terms of consumption in 2016, North America led the market, with a share of XX%. The United States is the single largest consumer of helium in the world. The United States is followed by Europe and Asia-Pacific in helium consumption. The extensive demand for helium in countries, such as India and China, for electronics & semiconductors, has made Asia-Pacific an area of immense potential and opportunities for market growth.
The growth in packaging and transportation technologies and the discovery of huge natural gas deposit, of more than two trillion tcf in Tanzania in February 2016, are expected to create opportunities for the growth of global helium market. Some of the major companies studied in this market report for helium production and uses are
In major recent developments, the German industrial gases group Linde and its American counterpart Praxair group have agreed in 2016 on a merger to become a global leader in the market; however, it will take a few months for this decision to materialize.
Key Deliverables in the Study