Growing adoption of helium across various applications along with discovery of new helium sources to fuel growth in global helium market through 2023
According to 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. Growth in the market can be attributed to increasing demand for helium in electronics industry, semiconductors, space research and MRI & NMR scanning. Moreover, commissioning of two more extraction units of helium in Qatar along with implementation of helium extraction Act 2017 in USA, is likely to positively influence global helium market during the forecast period. Additionally, rising focus of companies on discovery of new helium sources due to limited availability of the already existing helium sources is further likely to aid the growth of global helium market in the coming years.
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On the basis of type, 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 forecast period as well. Growth of this segment is led by high profitability as compared to liquid helium and 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 semiconductor and rising number of MRI & NMR scans across the countries in these regions.
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Global helium market is dominated by Air Product & Chemicals, Inc., as the company has the largest crude helium sourcing contracts with US Department of the Interior Bureau of Land Management for the year 2018. The company is likely to maintain its dominance during forecast period as well. “Growing electronics sector in China, Japan and South Korea is anticipated to propel demand for gaseous helium over the coming years. Moreover, 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 decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global helium market
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