The global Gaseous and Liquid Helium Market is estimated to be valued at US$ 7.05 billion in 2023 and is expected to exhibit a CAGR of 22.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The gaseous and liquid helium market encompasses the production and distribution of helium in its gaseous and liquid forms. Helium is a naturally occurring gas that is used for various applications in industries such as healthcare, electronics, and aerospace. It is known for its low boiling point and inertness, making it an ideal choice for cryogenic applications. The growing demand for cryogenics, particularly in the healthcare sector, is driving the growth of the gaseous and liquid helium market.
Market Key Trends:
One key trend in the gaseous and liquid helium market is the increasing demand for helium in the healthcare industry. Helium is widely used in medical imaging techniques such as magnetic resonance imaging (MRI) and positron emission tomography (PET). The inert nature of helium allows it to be used safely in these imaging techniques without any adverse effects on the human body. The rising prevalence of chronic diseases and the increasing need for accurate diagnostic tools are driving the demand for helium in the healthcare industry.
For example, helium is used in MRI machines to cool down the superconducting magnets, which generate a strong magnetic field necessary for imaging. Without helium, MRI machines would not be able to function properly. As the demand for MRI scans continues to rise, the demand for helium in the healthcare industry is also expected to increase.
PEST Analysis:
- Political: The political stability of countries that produce and export helium can impact the supply and pricing of helium in the market.
- Economic: The economic growth of countries and their healthcare expenditures influence the demand for helium in the healthcare industry.
- Social: The increasing prevalence of chronic diseases and the need for accurate medical imaging techniques drive the demand for helium.
- Technological: Advancements in medical imaging technology and the development of new cryogenic applications create new opportunities for the gaseous and liquid helium market.
Key Takeaways:
1: The global Gaseous And Liquid Helium Market Share is expected to witness high growth, exhibiting a CAGR of 22.9% over the forecast period, due to increasing demand for cryogenics. The healthcare industry, in particular, is driving the demand for helium due to its crucial role in medical imaging techniques.
2: North America is the fastest-growing and dominating region in the gaseous and liquid helium market. The region has a well-established healthcare infrastructure and a high demand for medical imaging techniques.
3: Key players operating in the global gaseous and liquid helium market are Air Products and Chemicals, Inc., Linde plc, Praxair, Inc. (now part of Linde), Air Liquide S.A., Gazprom, RasGas (now part of Qatar Petroleum), ExxonMobil Corporation, Matheson Tri-Gas, Inc., Iwatani Corporation, and Messer Group GmbH.
In conclusion, the gaseous and liquid helium market is expected to experience significant growth in the coming years, driven by the increasing demand for cryogenics, especially in the healthcare sector. The market is dominated by key players who play a crucial role in meeting the growing demand for helium. North America is leading in terms of market growth, fueled by its advanced healthcare infrastructure.
Comments
0 comment