February 29, 2024
Gaseous and Liquid Helium Market

Global Gaseous and Liquid Helium Market Is Estimated To Witness High Growth Owing To Increasing Demand

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 of 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The Gaseous and Liquid Helium Market is experiencing significant growth due to its increasing demand in various industries such as healthcare, electronics, and aerospace. Helium is widely used for cooling applications in the medical field, as well as for superconducting magnets in MRI machines. In the electronics industry, helium is used for leak testing and semiconductor production. However, the market is hindered by the limited availability of helium resources, which makes it a scarce and expensive commodity.

Market Key Trends:
One key trend in the Gaseous and Liquid Helium Market is the growing demand for helium in cryogenic applications. Cryogenics involves the use of very low temperatures, and helium is essential for achieving and maintaining these temperatures. For example, in the field of superconductivity, helium is used to cool materials to extremely low temperatures, allowing for zero electrical resistance and enabling the creation of powerful magnets.

An example of this trend can be seen in the increasing use of helium in the field of quantum computing. Quantum computers require extremely cold temperatures to operate, and helium is used to achieve these temperatures. As quantum computing continues to advance, the demand for helium in this sector is expected to increase significantly.

Segment Analysis:
The Gaseous and Liquid Helium Market is segmented based on the form of helium – gaseous or liquid. The segment analysis shows that the gaseous segment dominates the market, accounting for the largest share. This is because gaseous helium has a wider range of applications compared to liquid helium. Gaseous helium is commonly used for cooling and purging applications, as well as in welding and breathing mixtures. The versatility and relatively lower cost of gaseous helium make it the preferred choice in many industries.

Key Takeaways:
Market size related content:
The global Gaseous And Liquid Helium Market Share is expected to witness high growth, exhibiting a CAGR of 22.9% over the forecast period. This growth is primarily driven by the increasing demand for helium in various industries, such as healthcare, electronics, and aerospace. The limited availability of helium resources poses a challenge for the market, leading to its scarcity and high prices.

Regional analysis related content:
North America dominates the Gaseous and Liquid Helium Market, accounting for the largest share. This can be attributed to the presence of key players in the region and the high demand for helium in industries such as healthcare and electronics. Asia Pacific is expected to be the fastest-growing region due to the increasing industrialization and technological advancements in countries like China and India.

Key players related content:
Key players operating in the global Gaseous and Liquid Helium Market include Air Products and Chemicals, Inc., Linde plc, Praxair, Inc., Air Liquide S.A., Gazprom, RasGas (now part of Qatar Petroleum), ExxonMobil Corporation, Matheson Tri-Gas, Inc., Iwatani Corporation, and Messer Group GmbH. These companies are focusing on expanding their production capacities and investing in research and development to meet the growing demand for helium.

In conclusion, the Gaseous and Liquid Helium Market is experiencing significant growth due to its increasing demand in various industries. Cryogenic applications, such as quantum computing, are driving the demand for helium. The gaseous segment dominates the market, and North America is the leading region. Key players are investing in expanding their production capacities to meet the growing demand.