Helium finds extensive usage in various sectors like healthcare, electronics, aerospace and general industrial applications as it has unique physical properties like low boiling point, non-reactive nature and high thermal conductivity. It is used in Magnetic Resonance Imaging (MRI) machines and semiconductor manufacturing as a purge gas. Helium enhances the effectiveness of emergency response teams due to its ability to detect gas leaks.
The global Gaseous and Liquid Helium Market is estimated to be valued at US$ 7.05 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing usage of helium for diverse applications like cryogenics, pressurizing and purging has accelerated the demand in the market over the recent years. Helium finds usage in manufacturing semiconductors where it is used as an inert gas to provide moisture- and oxygen-free environment needed during the production process. It helps improve the performance and efficiency of semiconductors. The widening range of applications in healthcare sector especially in MRI scanning has further propelled the consumption of helium across the globe. With technological advancements, newer applications are emerging which is expected to augment the growth of gaseous and liquid helium market during the forecast period.
Segment Analysis
The global gaseous and liquid helium market size is dominated by cryogenic and pressurized gas applications due its inert and low boiling point properties. The cryogenic application segment accounts for the major share as helium finds extensive usage in cryogenic research activities and production of superconducting magnets. This application segment demands large volumes of helium to achieve extremely low temperatures needed for experiments and manufacturing processes.
Key Takeaways
The global gaseous and liquid helium market is expected to witness high growth over the forecast period of 2023 to 2030. The global Gaseous and Liquid Helium Market is estimated to be valued at US$ 7.05 Bn in 2023 and is expected to exhibit a CAGR of 6.3% over the forecast period 2023 to 2030.
Regional analysis shows that Asia Pacific region is currently the fastest growing regional market and is expected to dominate the global market by 2030. Key factors contributing to the Asia Pacific market growth include increasing investments in capital intensive fields such as semiconductors, healthcare, aerospace, defense and energy where helium finds critical applications. North America currently holds the largest share of the global market owing to large scale healthcare and scientific research activities in the US and Canada. Major players in the region are expanding their production capacities to cater to the rising demand. The European market is also expanding at a significant rate driven by growing semiconductor manufacturing industry and scientific research programs in countries like Germany, UK and France.
Key players operating in the gaseous and liquid helium market include ThermoFisher Scientific, Air Liquide, Linde Plc., Iceblick Ltd., Gulf Cryo, RasGas, Messer Group, Air Products and Chemicals Inc., Matheson Tri-Gas Inc., andnexair llc. Leading players are focusing on developing advanced air separation plants to produce helium in large volumes. Partnerships and collaborations across the value chain are also helping key companies to strengthen their market position.
Get more insights on this topic: https://www.newsstatix.com/gaseous-and-liquid-helium-market-share-and-opportunity-analysis/
Comments
0 comment