The global Helium market is anticipated to grow significantly through 2028 due to the rise in demand for helium in the healthcare industry. In 2020, India's healthcare sector was worth about USD 280 billion.
The global Helium market is expected to expand during the projected period due to increasing demand from the healthcare industry as it helps in the treatment of various breathing diseases. Helium is a colorless, odorless, non-corrosive, non-toxic, and non-combustible gas mainly produced or sourced from natural gas wells. For better global positioning systems (GPS) in submarines and aircraft liquid helium is used to clean up noisy signals.
For instance, research into the use of supercooled helium is continuing. The National Aeronautics and Space Administration (NASA) and the National Science Foundation-funded research are anticipated to focus on helium-4, which will be cooled to almost absolute zero, enabling it to become a frictionless fluid and acquire the potential to generate aural experiences.
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In addition, helium is also used widely to advertise on blimps for different companies as well as NASA uses helium-filled balloons to sample the atmosphere in Antarctica to identify the causes of the depletion of the ozone layer.
Furthermore, many companies and research institutes have started investing in research and development regarding the development of technology based on helium. As the supply of helium becomes increasingly constrained, there is a growing focus on recycling helium to meet the growing demand. Helium recycling is becoming increasingly viable as technology improves and the cost of recycling decreases. Many research institutes and companies provide helium recycling services and this trend growing in the upcoming years.
For instance, in 2022, the UCLA Chemistry & Biochemistry Department focus on new liquid helium recycling system that offers sustainable research.
Furthermore, for instance, Anhui Daxin Vacuum Technology Co., Ltd. provides Helium Filled Recovery System
Moreover, the use of helium in renewable energy technologies such as nuclear fusion. Helium is a critical component in nuclear fusion reactions, and as the development of nuclear fusion technology continues, the demand for helium is likely to increase will further expand the growth of the Global Helium market in the forecast period.
For instance, ITER conducts nuclear fusion reactions in their research lab and produces gases with high temperatures and to detect these gases helium is used as standard gas.
Increase Demand from the Healthcare Sector
Helium is utilized to observe breathing. It is crucial to managing respiratory disorders such as asthma, emphysema, and others. Usually, the gas is utilized to treat lung conditions. Helium and oxygen are combined to treat acute and chronic respiratory conditions because they reach the lungs faster than any other substance. Helium is used to manage powerful magnets in magnetic resonance imaging (MRI) equipment, which is beneficial for monitoring various disorders within the stomach, pelvis, chest, and pregnancy diagnoses. Magnetic resonant imaging (MRI) machine operates using liquid helium as liquid helium reaches a temperature of -269°C which helps to cool down the magnet of the equipment. MRI is widely used in neurology along with cancer screening. Around 30% of the share of global helium consumption was attributable to its use in MRI scanners.
For instance, LBN Medical uses liquid helium in MRI Scanners
Furthermore, for instance, Air Products and Chemicals, Inc. offers KeepCOLD MRI magnet filling services using state-of-the-art liquid helium dewars.
Also, for commercially available superconducting magnets employed in NMR spectroscopy, helium is the only gas to maintain the low temperature necessary for generating the superconducting effect.
For instance, Bruckner produces superconducting magnets for NMR ranging from 300 MHz to 1.2 GHz.
Thus, increasing demand from the healthcare sector propels the growth of the market in the forecast period.
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Rising Demand for Particle Accelerators
Particle accelerators are a machine that uses electromagnetic fields to propel charged particles to very high speeds and energies. Helium is an essential component that plays a crucial role in the operation of these machines by providing a medium for cooling and conducting electricity. Particle accelerators generate a huge amount of heat during operation, and if not properly cooled, the machines can overheat and cause damage. Helium is a very stable refrigerant that can cool down objects to thousandths of a Kelvin, or less than minus 452°F ( -269°C).
Liquid helium is used to cool the superconducting magnets that guide the particles through the accelerator, allowing them to reach higher energies without being destroyed. Accelerators can be many miles long and need to be cooled throughout thus helium is employed in large quantities. After being filled with helium, an accelerator can keep using the refrigerant. Moreover, the particles in the accelerator are typically charged, and to keep them on track, they need to be guided by electromagnetic fields generated by the superconducting magnets.
Helium also used as a conductive medium in particle accelerators due to its low electrical resistance, which allows these magnetic fields to be created and maintained without significant energy losses. In addition, helium is also used as a target material in some types of particle accelerators because it is relatively light and can be easily ionized, allowing for a high probability of interactions between the particles and the target. In these accelerators, the particles are accelerated to high energies and then directed at a target material to create a shower of secondary particles. Furthermore, researchers need to top off the supply to account for the minimal quantity that leaks and drifts away from the accelerator each year. Therefore, increasing demand for helium for various applications in particle accelerators anticipated the growth of the market in the forecast period.
For instance, ReiCat’s gas drying systems use helium in the cooling system of the world's largest particle accelerator- the Large Hadron Collider (LHC).
Growing Adsorption from The Metal Fabrication Industry
Due to its stable and inert nature, lighter than air, high ionization potential, and no chemical reactions when exposed to other materials, helium gas use is rising in the metal fabrication business. These reasons make helium gas the preferred gas for all electric welding processes, including Tungsten Inert Gas (TIG), Metal Inert Gas (MIG), Metal Active Gas (MAG), Plasma, and Laser welding. Due to its excellent thermal conductivity, helium may be employed in welding processes that need more heat input. Helium gas sales will continue to rise throughout the projection period due to rising demand for thin sheet metal and associated goods in sectors including aerospace, medicine, industry, manufacturing, and automotive.
For instance, SicgilSol India Private Limited produces helium gas used as a pressurizing and purge gas in the arc welding & metal fabrication process.
However, one of the biggest challenges is the limited supply of helium as helium is a non-renewable resource and it is extracted from underground reservoirs mainly from natural gas fields and it cannot be replaced. As demand for helium continues to grow, the supply will become increasingly constrained which generates concern about the long-term availability of the resources since helium is a low-density gas that is difficult to store and transport, it requires high costs for storage and transport. Moreover, helium is not easily extracted and refined it requires advanced technology for extraction resulting in a high cost of production and a refining process. Along with this available of alternative gases such as nitrogen are used in some industrial applications instead of helium as it is cheaper and more readily available which further restraint the market growth.
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Table of Content-Helium Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Voice of Customer
- Global Helium Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Type (Gaseous and Liquid)
5.2.2. By Application (MRI & NMR, Semiconductors & Optic Fibers, Others)
5.2.3. By End Use (Aerospace, Electrical & Electronics, Medical, Welding, Others)
5.2.4. By Region (North America, Europe, Asia Pacific, South America, Middle East & Africa)
5.2.5. By Company (2022)
5.3. Market Map
5.3.1. By Type
5.3.2. By Application
5.3.3. By End Use
5.3.4. By Region
- North America Helium Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Application
6.2.3. By End Use
6.2.4. By Country
6.3. Pricing Analysis
6.4. North America: Country Analysis
6.4.1. United States Helium Market Outlook
6.4.1.1. Market Size & Forecast
6.4.1.1.1. By Value & Volume
6.4.1.2. Market Share & Forecast
6.4.1.2.1. By Type
6.4.1.2.2. By Application
6.4.1.2.3. By End Use
6.4.2. Mexico Helium Market Outlook
6.4.2.1. Market Size & Forecast
6.4.2.1.1. By Value & Volume
6.4.2.2. Market Share & Forecast
6.4.2.2.1. By Type
6.4.2.2.2. By Application
6.4.2.2.3. By End Use
6.4.3. Canada Helium Market Outlook
6.4.3.1. Market Size & Forecast
6.4.3.1.1. By Value & Volume
6.4.3.2. Market Share & Forecast
6.4.3.2.1. By Type
6.4.3.2.2. By Application
6.4.3.2.3. By End Use
- Europe Helium Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Application
7.2.3. By End Use
7.2.4. By Country
7.3. Pricing Analysis