Market Synopsis
The Global Helium
Market was valued at around USD 4.08 billion in 2018 and is expected to
register a healthy CAGR during the review period. Helium is produced in
the natural environment due to radioactive decaying, which remains trapped in
reserves as natural gas. With the depleting natural gas reserves containing
helium, the need for producing pure play helium has increased, which is likely
to drive the market growth in the coming years. The market players are
emphasizing on recovering helium from liquefied natural gas (LNG)
facilities. For instance, in 2018, Air Products and Chemicals, Inc and
Sonatrach signed two gas production and delivery agreements to recover helium
from Sonatrach’s LNG facilities. The recovered helium will be delivered to
HELIOS, a joint venture between Air Products and Chemicals, Inc and Sonatrach.
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The global demand for helium is
increasing due to its extensive use in cryogenics, particularly, magnetic
resonance imaging (MRI) scanners. The growth of the semiconductor industry in
the developing countries of Asia-Pacific is likely to offer significant
opportunities for global market players. However, the availability of low-cost
alternatives such as argon, liquid nitrogen, and hydrogen is likely to hamper
the market growth.
Market Segmentation
The global helium market has been
segmented by form, application, end-use industry, and region.
Based on form, the global market
has been classified into liquid and gas. The gas segment accounted for the
largest market share in 2018 on account of its increasing applications in metal
fabrication, welding, leak detection, and pressurizing. Liquid helium is used
in cryogenic applications, particularly magnetic resonance imaging (MRI)
scanners for cooling magnets.
Based on application, the global
market has been divided into cryogenics, pressurizing and purging, welding,
leak detection, breathing mixtures, controlled atmosphere, and others. The
cryogenics segment accounted for the largest market share in 2018 on account of
wide use of liquid helium in MRI scanners due to its low temperature in the
liquid state. The welding segment accounted for the second-largest share of the
global helium market owing to increasing demand for shielding gas in welding
applications and metal fabricated products used in the aerospace and automotive
industries.
Based on end-use industry, the
global market has been divided into aerospace & defense, electrical
& electronics, medical, automotive, energy, leisure/recreational, welding
& metal fabrication, and others. The growth of the global helium market is
mainly driven by its extensive use in the aerospace and medical industries. The
semiconductor was the fastest growing segment on account of increasing
consumption of chips with rapid technological advancements in the developing
countries.
Competitive Analysis
·
The Linde Group
·
Air Products and Chemicals, Inc
·
Qatargas Operating Company Limited
·
Noble Helium Pty Ltd
·
Praxair Technology, Inc
·
Air Liquide
·
Weil Group
·
Nippon Helium Inc
·
Messer Group GmbH
·
nexAir LLC
·
Gulf Cryo
Regional Analysis
Based on region, the global helium
market has been segmented into North America, Europe, Asia-Pacific, Latin
America, and the Middle East & Africa. The market in Asia-Pacific accounted
for the largest share of the global helium market owing to increasing
investments in the aerospace & defense industry coupled with the presence
of major players of the aerospace & defense industry such as Boeing, United
Technologies Corporation, and GE Aviation.
Europe is also expected to be the
prominent market on account of the expanding medical industry coupled with
rapid technological advancements in the medical procedures.
The market in Asia-Pacific is
likely to witness healthy growth on account of the rapid growth of the
semiconductor industry in the developing countries coupled with increased
spending on electronics.
The markets in Latin America and
the Middle East and Africa are likely to register healthy CAGRs on account of
the growth of the major end-use industries such as aerospace & defense,
electrical & electronics, and automotive.
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