The global helium market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Helium is a colorless, odorless, tasteless noble gas that is not combustible and does not support combustion. It is mainly obtained from natural gas using adsorption technologies. Medically it is used as a diluent for other gases, being especially useful with oxygen in the treatment of certain cases of respiratory. It is used mostly in applications such as petroleum refinery, ammonia production, methanol production, as fuel and others. The commercial method of preparing 99.9% pure Helium is from natural gas using a pressure swing adsorption (PSA).
Rising demand for helium from aerospace, electronics & semiconductors, medical and other industries is likely to drive the market. Demand from aerospace, electronics & semiconductors, medical and other related industries is actually increasing because of the rapid economic growth in developing countries. Additionally, demand from metal cutting & welding, functional fluids and other industries are likely to increase at a greater rate because of an upsurge in demand.
Drivers and Restraints of Helium Market
Growing investments in downstream industries in regions like the Asia and Americas are likely to offer tremendous possibilities for Helium market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Helium generation is exposed to the probability of volatility in supply and price of natural gas. Transportation and safety are among the few challenges of this market. Recent mergers and acquisitions in industrial gases industry have caused further consolidation in the oxygen market making business tough for small and new players in the market.
Helium Market by Region
The Americas were the largest consumer of Helium and this pattern is anticipated to be identical over the following few years. Consumption in the Americas is showing an upward trend because of the increase in economic activity in the USA. USA, Canada, Brazil were the largest consumers of helium in this region. Growing demand for aerospace, electronics & semiconductors, medical and other applications will drive the helium market in the region. Consumption of helium in Europe was second highest and is likely to grow at a reasonable rate next to the Americas. Asia is likely to grow at a significant rate due to demand from aerospace, electronics & semiconductors, medical and other industries. Demand from the Middle East and Africa was low relatively and is likely to stay the same in the next few years.
Top players in this market include Air Liquide, Air Products and Linde-Praxair. Other significant players operating in the helium market include Messer Group GmbH, Taiyo Nippon Sanso Corporation, Asia Technical Gas Co (PTE) LTD (ATG) and Showa Denko K.K.. among others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth