Global Helium Market to Reach $2.8 Billion by 2026

Helium represents an odorless, colorless, non-toxic, non-combustible and non-corrosive gas that is produced from natural gas wells. Helium is the second-lightest and second-most abundant element on the universe, accounting for 24% of the elemental mass. The global supply of the gas depends on 20 liquefaction units located across countries like the US, Russia, Poland, Qatar, Algeria, Australia and China. Growth in the global market is being driven by increasing consumption across end-use industries such as healthcare, semiconductor and electronics; and heavy investments in R&D to develop innovative helium-based systems. The increasing use of helium in semiconductor production, nuclear power generation plants and metal works is expected to bolster the market over the coming years. The market expansion is facilitated by extensive use of helium as cryogenic coolant defense and energy research. The increasing use of helium in semiconductor production, nuclear power generation plants and metal works, and medical applications like NMR and MRI is expected to bolster the market over the coming years.

Amid the COVID-19 crisis, the global market for Helium estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$2.8 Billion by 2026, growing at a CAGR of 4.3% over the analysis period. Gas, one of the segments analyzed in the report, is projected to grow at a 4.6% CAGR to reach US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Liquid segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 31% share of the global Helium market. Growth in the gas segment is driven by increasing demand for the gaseous phase from different end-use applications. Liquid helium represents a popular cryogenic material used for creating superconducting magnets and studying superconductivity. It finds use as cooling medium for various magnets and specific processes for NMR spectrometers and MRI scanners.

The U.S. Market is Estimated at $607.4 Million in 2021, While China is Forecast to Reach $387.6 Million by 2026

The Helium market in the U.S. is estimated at US$607.4 Million in the year 2021. The country currently accounts for a 27.01% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$387.6 Million in the year 2026 trailing a CAGR of 5.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR while Rest of European market (as defined in the study) will reach US$411.5 Million by the end of the analysis period. The US remains the dominating force in the electronic market, a key end-use of helium. Market expansion is supported by technological advances, rising demand and increasing number of research centers. The strong focus on creating high-end products has led to proliferation of development centers and manufacturing units in the US, pushing helium demand. The Asia-Pacific market for helium is anticipated to be driven by increasing demand from diverse industries such as mining, construction, automobiles and transportation. The region is one of the major semiconductor powerhouses, and served by Japan, South Korea, China and Taiwan that supply semiconductors and electronic components globally. In addition, countries including Algeria, Qatar, Poland, Australia and Russia produce significant amounts of helium.