Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Helium - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Helium Market to Reach $2.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Helium estimated at US$2.3 Billion in the year 2022, is projected to reach a revised size of US$2.8 Billion by 2026, growing at a CAGR of 4.3% over the analysis period.
Growth in the global market is being driven by increasing consumption across end-use industries such as healthcare, semiconductor and electronics; and heavy investments in R&D to develop innovative helium-based systems. Manufacturers of semiconductors, optical fibers and flat panel displays depend heavily on helium for cooling applications.
The increasing use of helium in semiconductor production, nuclear power generation plants and metal works is expected to bolster the market over the coming years. The market expansion is facilitated by extensive use of helium as cryogenic coolant defense and energy research. The increasing use of helium in semiconductor production, nuclear power generation plants and metal works, and medical applications like NMR and MRI is expected to bolster the market over the coming years. Gas, one of the segments analyzed in the report, is projected to grow at a 4.6% CAGR to reach US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Liquid segment is readjusted to a revised 3.6% CAGR for the next 7-year period.
This segment currently accounts for a 31% share of the global Helium market. Growth in the gas segment is driven by increasing demand for the gaseous phase from different end-use applications. Liquid helium represents a popular cryogenic material used for creating superconducting magnets and studying superconductivity. It finds use as cooling medium for various magnets and specific processes for NMR spectrometers and MRI scanners. The U.S. Market is Estimated at $627.6 Million in 2022, While China is Forecast to Reach $387.6 Million by 2026
The Helium market in the U.S. is estimated at US$627.6 Million in the year 2022. The country currently accounts for a 27.01% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$387.6 Million in the year 2026 trailing a CAGR of 5.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR while Rest of European market (as defined in the study) will reach US$411.5 Million by the end of the analysis period. The US remains the dominating force in the electronic market, a key end-use of helium.
Market expansion is supported by technological advances, rising demand and increasing number of research centers. The strong focus on creating high-end products has led to proliferation of development centers and manufacturing units in the US, pushing helium demand.
The Asia-Pacific market for helium is anticipated to be driven by increasing demand from diverse industries such as mining, construction, automobiles and transportation. The region is one of the major semiconductor powerhouses, and served by Japan, South Korea, China and Taiwan that supply semiconductors and electronic components globally.
In addition, countries including Algeria, Qatar, Poland, Australia and Russia produce significant amounts of helium. What`s New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the digital archives
Complimentary updates for one year
Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
Impact of COVID-19 and a Looming Global Recession: Adverse Implications for Global Helium Market
Industrial Activity Remains Subdued in the Immediate Term: Stringent Regulations & Price Volatility Hinder Expansion of Helium Market
An Introduction to Helium: Intriguing Element with Plethora of Applications
Rising Demand from End-Use Industries to Help Helium Market Scale New Heights in Long Term: Overview and Outlook
World Helium Market by Application (2020 & 2027): Percentage Breakdown of Sales for Cryogenics, Welding, Laboratory, Lifting Balloons, Fiber Optics, Pressurizing & Purging, Leak Detection, Breathing Mixtures, and Other Applications
Healthcare Occupies Larger Addressable Share of Helium Market
Rising Natural Gas Output to Buoy Helium Market
Gaseous Helium Segment Dominates Global Helium Market
World Helium Market by Type (2020 & 2027): Percentage Breakdown of Sales for Gas, and Liquid
Asia and North America Enjoy Commanding Presence in Global Helium Market
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS (Total 30 Featured):
Air Products and Chemicals, Inc
Polish Oil and Gas Company
Widespread Utility of Helium in Cryogenics Augments Market Prospects
Evolving Role of Cryogenics in Space Systems Bodes Well
Helium for Effective Operation of MRI Machines
Relevance of Welding in Numerous Processes Augurs Well
Lifting Balloons: Another Established Application
Opportunities in Breathing Mixtures Market
Relevance of Helium in Fiber Optics Manufacturing
Rising Use in Defense & Military Applications
Helium Continues to Gain Traction in Pressurizing & Purging Applications
Leak Testing Made Easier with Helium
Critical Role in Semiconductor Manufacturing Underpins Future Growth
Slowdown in Electronics Industry Hampers Immediate Prospects
Falling Consumer Confidence Impacts Sales of Automotive and Consumer Electronics
4. GLOBAL MARKET PERSPECTIVE III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/z94y2r
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