Covina, Sept. 13, 2023 (GLOBE NEWSWIRE) -- What is Helium?
Helium is the second-most abundant element in universe and primarily trapped in subsurface natural gas bunkers and is commercially recovered using a fractional distillation process. Helium is unreactive and used for providing an inert protective atmosphere for semiconductors, fiber optics and arc welding. Use of helium in detecting leakages in air-conditioning systems is likely to propel market growth.
Growing use of helium in semiconductor and electronics industries has driven the market growth. Wide use of helium in healthcare industries for MRI (magnetic resonance imaging) systems and for breathing observation has fruitful the demand for market growth. Further, rising use of helium in treating asthma, emphysema and other conditions and applications in defense & aerospace sectors is expected to drive the demand for Helium Market growth.
Key Highlights:
- In June 2023, the Irkutsk Oil Company (INC) launched a helium plant at Irkutsk region, Yarakta Oil and Gas condensate field in trial mode. The new launched plant has become has become second and largest in Russia and operating in application mode with capacity of 10 million liters per year.
Analyst View:
Wide use of helium in manufacturing or use in laser pointers, cryogenics, cardiopulmonary resuscitation pumps, superconductivity, liquid fuel rockets and monitoring blimps has powered the demand for Helium Market growth. Presence of major players and growing market consolidation activities is likely to propel Helium Market growth.
| Attributes | Details |
| Helium Market Value (2020) | US$ 6218.14Bn |
| Helium Market Projected Value (2030) | 9754.86Bn |
| Helium Market CAGR (2020 – 2030) | 4.6% |
Geography:
- North America - U.S., Canada
- Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
- Latin America - Brazil, Mexico, Argentina, Rest of Latin America
- Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
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Key Developments in the Helium Market:
- Supply Challenges: One of the significant developments in the helium market was the ongoing supply challenges. Helium is a finite resource, primarily extracted from natural gas fields, and there have been concerns about dwindling helium reserves. This has led to efforts to find new sources of helium, such as helium-rich natural gas fields.
- Increased Demand: Helium has a wide range of industrial and scientific applications, including in cooling for medical equipment, semiconductors, and aerospace. There was an increasing demand for helium, particularly in emerging markets, which put pressure on the supply chain.
- Market Consolidation: The helium market was characterized by a few major suppliers dominating the industry. Some mergers and acquisitions occurred, which further consolidated the market.
Impact of COVID-19 on the Helium Market:
- Short-Term Disruptions:
The pandemic caused temporary disruptions in the helium supply chain due to lockdowns, reduced production, and transportation challenges. This led to supply shortages in some regions.
- Long-Term Implications:
The economic impact of the pandemic affected various industries, including those reliant on helium. Reduced industrial activity in certain sectors, such as aerospace and manufacturing, led to decreased demand for helium.
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Competitive Analysis:
The key players operating the Helium market,
- Involves Kao Chemicals GmbH
- Enaspol GmbH
- SC Johnson Inc.
- Stepan Company
- Taiwan NJC corporation
- Lonza Inc
- Vicchem Pvt. Ltd.
- Spectrum Chemical Manufacturing Corp.
- Bonnyman Son & Company Ltd.
Questions answered in this report:
- What are the key market trends and market dynamics?
- Who are the major players in the market and what is their market share?
- What are the major drivers and restraints affecting the market?
- What are the growth opportunities in the market?
- What are the regional and local market conditions and consumer behavior?
- What is the market size and growth forecast for different regions and countries?
- What is the impact of government regulations and policies on the market?
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