The global helium gas market is projected to reach a valuation of US$ 2.8 Bn in 2022. With demand growing at a 5.1% CAGR, the market size will reach US$ 4.6 Bn by 2032. Helium is extensively used in the healthcare sector for various applications in recent days. Helium gas has physical and chemical characteristics such as high thermal conductivity, low solubility, and low density, which makes it an ideal element for many applications in the healthcare sector. Along with this, helium gas is biologically inert and its neuroprotective capabilities make it effective for adjunct therapy in many respiratory diseases such as asthma exacerbation, ARDS, COPD, bronchiolitis, and croup. It is used to cool the coil of wire and to drop the resistance of wire close to zero in Magnetic Resonant Imaging (MRI) machines. There are many coils of wire which conduct electricity and generate a strong magnetic field in MRI machines. Helium Ion Microscopy is a recently discovered application in pulmonary MRI radiology and imaging of organs, which is expected to create opportunities for growth for helium gas manufacturers. In addition to this, the consumption of helium gas in the metal fabrication and electronics industry is rising. In the metal fabrication industry, helium gas is used to increase the heat input in the process, which increases the productivity and the protection of the welding bath. It is suitable for all types of welding such as TIG, MIG, MAG, plasma, and Laser. Increasing demand for metal fabrication products across various industries such as automotive, aerospace, defense, and manufacturing is anticipated to bolster the growth in the helium gas market. Moreover, helium gas consumption is also increasing in electronic industry. It has several properties that it makes effective to be used in semiconductor manufacturing. A semiconductor is an important component in an electronic devices. It is extensively used in radio, television, cars, air conditioners, computers, mobile phones other electronic products which is expected to propel demand for helium gas in the forthcoming years. “Increasing applications of helium gas in GPS systems, along with growing usage in nuclear plants and other electronic applications will fuel the growth in the market over the forecast period,” says an FMI analyst. Key Takeaways:
Based on applications, demand for helium gas in the electronics segment is slated to reach as valuation of US$ 404 Mn by 2032. In terms of supply mode, sales in the cylinders segment are expected to remain high through 2032. The U.S. will continue dominating the North America helium gas market, with total sales reaching a valuation of US$ 816 Mn by 2032.