Growing adoption of helium across various applications along with the discovery of new helium sources to fuel growth in the global helium market through 2023. According to the recently published TechSci Research report “Global Helium Market By Application, By Type, By Distribution, By Region, Competition Forecast & Opportunities, 2013 – 2023’’, global helium market is projected to surpass $ 8.2 billion by 2023.
The Important Elements of the Helium Market
Growth in the market can be attributed to increasing demand for helium in the electronics industry, semiconductors, space research, and MRI & NMR scanning. Moreover, the commissioning of two more extraction units of helium in Qatar along with the implementation of the helium extraction Act 2017 in the USA, is likely to positively influence the global helium market during the forecast period.
Additionally, the rising focus of companies on the discovery of new helium sources due to the limited availability of the already existing helium sources is further likely to aid the growth of the global helium market in the coming years.
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On the basis of type, the global helium market is segmented into gaseous and liquid, of which, the gaseous segment dominated the market in 2017 and is anticipated to continue its dominance during the forecast period as well. Growth of this segment is led by high profitability as compared to liquid helium and a rising number of small and mid-size users, which are the major demand generator for gaseous helium.
A large demand for helium gas emanates from North America and Asia-Pacific due to growing semiconductors and the rising number of MRI & NMR scans across the countries in these regions.
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The global helium market is dominated by Air Product & Chemicals, Inc., as the company has the largest crude helium sourcing contracts with the US Department of the Interior Bureau of Land Management for the year 2018. The company is likely to maintain its dominance during the forecast period as well. “Growing electronics sector in China, Japan, and South Korea is anticipated to propel the demand for gaseous helium over the coming years. Moreover, the rising focus on recycling helium due to its high price and limited availability is further likely to contribute to its demand. Additionally, merger and acquisition activities taking place in the market would further steer growth in the global helium market in the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Helium Market By Application, By Type, By Distribution, By Region, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of global helium and provides statistics and information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global helium market
About TechSci Research
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