H1 2023: In North America, Helium prices fluctuated during H1 2023. In the first three months of 2023, Helium prices in North America rose due to limited product supply. The Helium shortage and fluctuations in upstream (natural gas) prices influenced overall Helium market sentiments. Factors like the US bank crisis and increased product demand and played a role in shaping the market dynamics. Helium prices surged with growing international demand. In late February 2023, North American Helium Inc. (NAH) introduced two new helium purification plants in Saskatchewan. One of them is located in Consul, Saskatchewan and the one in southwest of Eastend, Saskatchewan. In the second quarter of 2023, Helium prices experienced an upward trend due to increased demand amid a supply shortage. In April 2023, NAH accomplished the construction and successful commissioning of its sixth helium purification facility located near Mankota, Saskatchewan. The new facility, situated next to the existing plant in Mankota, effectively doubled the total productive capacity of this area to surpass 50 million cubic feet per year. Factors such as the US banking crisis and growing demand for the product significantly influenced the overall market dynamics of Helium. Helium prices surged as demand for the product in the global market increased. Additionally, production costs remained elevated due to factors like higher natural gas prices contributed to the overall market dynamics of Helium in the North American market.
The global Helium market stood at approximately 6 million tonnes in 2022 and is expected to grow at a CAGR of 4.35% during the forecast period until 2032. Helium, an inert gas with low-temperature liquefaction properties, is accessible in both gaseous and liquid states for commercial use. Its non-reactive, non-corrosive, and non-flammable characteristics make it suitable for various applications, including breathing mixes, cryogenics, leak detection, welding, pressurizing, purging, and controlled atmosphere scenarios. Helium is widely utilized in diverse industries such as aerospace, electronics, semiconductors, nuclear power, healthcare, welding, metal fabrication, and more.
Helium, a versatile gas with unique attributes, is strategically positioned as a market powerhouse across diverse sectors. In the medical sector, it's the backbone of MRI technology, ensuring precision cooling for optimal machine performance. The aerospace industry soars with helium, utilizing it for buoyant airships and weather balloon inflation. In welding applications, helium's shielding prowess safeguards against contamination, while its inert qualities make it the go-to for leak detection industry-wide. The electronics sector rides on helium's nature, leveraging its role in semiconductor production and manufacturing processes requiring low temperatures. Laboratories and research hubs count on helium's low boiling point for various experiments. Helium is vital in semiconductors for cooling superconducting magnets, ensuring precision in wafer inspection, and preventing damage during ion implantation. It's essential in lithography for cooling optics, enhancing patterning accuracy, and serves leak detection, ensuring equipment integrity in semiconductor manufacturing. With multifaceted applications, helium stands as an irreplaceable player in technological, scientific, and industrial arenas, positioning itself as an essential component driving innovation and progress across diverse markets.
There has been a consistent and growing demand for helium within the healthcare sector, particularly for Magnetic Resonance Imaging (MRI) applications. The semiconductor and electronics industry is also anticipated to witness an upsurge in helium demand, driven by the rising preference for LED screens. However, it's crucial to note that the market growth might face challenges due to strict government regulations governing helium usage and the cost-intensive extraction process. Despite these hindrances, the increasing need for ultra-low temperature freezers is poised to contribute significantly to helium demand, presenting a positive trajectory for the market in the forecast period. In essence, the healthcare industry's reliance on helium for advanced medical imaging and the expanding applications of helium in cutting-edge technologies, like LED screens, highlight the diverse and evolving landscape of helium consumption. While regulatory factors and extraction costs pose potential constraints, the ongoing demand from specific sectors, such as ultra-low temperature freezers, suggests a nuanced and dynamic market outlook. The global Helium market is anticipated to reach nearly 11.8 million tonnes by 2032.
The Asia Pacific region emerges as the predominant consumer of helium globally, primarily propelled by surging demand within the healthcare sector and the semiconductor and electronics industry. This dominance is further underpinned by the region's escalating population and rising per capita income, particularly in emerging economic powerhouses such as India and China. The increasing economic prosperity in these nations has fostered a surge in various industries, contributing to the growing need for helium across diverse applications like healthcare and cryogenic sectors. The flourishing healthcare sector, the Asia Pacific region benefits from a dynamic industrial landscape, where helium finds utility in an expanding array of applications. As helium continues to be a vital resource in cutting-edge technologies and medical advancements, its consumption in the Asia Pacific region is expected to exhibit sustained growth, solidifying its pivotal role in driving regional and global helium markets.
Based on the end-user industry, the global Helium market is divided into Breathing Mixes, Cryogenics, Leak Detection, Welding, Pressurizing and Purging, Controlled Atmosphere, and Others. However, Breathing Mixes Industry dominates the Helium market and held approximately 35% of the global Helium market in 2022.
Major players in the Global Helium market are Exxon Mobil Corporation, Linde Plc, Air Liquide, Qatargas Operating Company Limited, Gulf Cryo, Messer Group GmbH, Renergen, Air Products and Chemicals, Inc., Gazprom, Iwatani Corporation, PGNIG SA Matheson Tri-Gas Inc., NexAir LLC, Weil Group, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Helium which covers production, demand and supply of Helium market in the globe.
• To analyse and forecast the market size of Helium
• To classify and forecast Global Helium market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Helium market in the globe.
To extract data for Global Helium market, primary research surveys were conducted with Helium manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Helium market over the coming years.
ChemAnalyst calculated Helium demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Helium. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Helium manufacturers and other stakeholders
• Organizations, forums and alliances related to Helium distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Helium manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Helium market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
6 million tonnes
Market size Volume in 2032
11.8 million tonnes
Growth Rate
CAGR of 4.35% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Type, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Breathing Mixes, Cryogenics, Leak Detection, Welding, Pressurizing and Purging, Controlled Atmosphere, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Helium in terms of volume in 2022?
Ans:
The global market size of Helium had reached approximately 6 million tonnes in 2022.
Q2.
Which region is the major consumer of Helium?
Ans:
Asia Pacific region is the leading consumer of Helium globally.
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