Global Helium Market to Grow as New Applications of Inert Gases come to the Fore of the Industry: TMR

- The use of helium across major industries is largely on account of its low density and solubility gives it a leverage over other gases, creating fresh demand within the market.

- Advancements in the study of helium in light of medical and space engineering applications is also opening fresh pathways for market expansion.

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Transparency Market Research

Jan 25, 2021, 09:30 ET

ALBANY, N.Y., Jan. 25, 2021 /PRNewswire/ -- The applications of helium span into a multitude of industries and segments, creating new opportunities for growth across the global market. The low boiling point of helium makes it a suitable chemical agent in across several processes and experiments. Moreover, its distinct reactive properties have generated intrigue and interest amongst researchers, scientists, and scholars. This factor has also created new pathways for growth and advancement within the global helium market. Furthermore, researchers have pointed to the high potential of helium for new applications across heavy-duty operations and industries. In light of these factors, it is safe to assert that the global helium market would grow at a sturdy pace in the times to follow.

The total worth of the global helium market is expected to touch a value of US$ 3.5 Bn by the end of 2027, escalating up from a value of US$ 2.4 Bn in 2018. Furthermore, the CAGR for the helium market calculated for the period between 2019 and 2027 is expected to be 4%. The steady rate of growth for this market can be attributed to the barriers imposed on free sale, storage, and purchase of helium.

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Key Findings of the Market Report

Advancements in Research on Inert Gases

The interest of chemical scientists and researchers in the study of inert gases is not unknown. For several years, the domains of organic and inorganic chemistry have been focusing on understanding the obscure properties exhibited by inert gases. Besides, application of helium for manufacturing explosives or highly-reactive materials has also aided market growth. The manufacturing of these materials is guarded by strict rules and policies, making it imperative for the concerned manufacturing authorities to heed to the specifications of the government or state entities. Therefore, helium continues to be a matter of discussion and inspection for the state. Despite the evident constraints that come through this trend, helium continues to be a high-demand product across leading industries.

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Disruptive Advancements across the Chemical Research

The state of the chemical industry has improved by leaps and bounds in recent times, creating the inflow of fresh revenues for the market vendors. It is worthwhile to note that the global helium market has gained fresh revenues due to the popularity of cool mediums across the chemical industry. Moreover, research scholars and scientists are focusing on studying the properties and potential new applications of helium. This trend has also created new opportunities for growth and advancement across the global helium market.

Relevance of Helium in Healthcare and Medical Applications

Over the course of the next decade, the use of superconducting magnets is projected to increase. These magnets, manufactured from helium usage, hold tremendous relevance on NMR spectroscopy and MRI scanners. Therefore, the relevance of helium in medical and healthcare applications is creating fresh pathways for market expansion. Several medical researchers also concur with the relevance of helium in causing disruptive advancements across the healthcare sector.

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Use of Helium in Space Operations Management

The apollo space vehicles were powered by helium because the latter can be used to keep satellite systems cool. This is amongst the most resilient dynamics of growth and advancement for the global helium market. The domain of space engineering and research attracts formidable revenues from several key entities. Therefore, the application of helium in cooling liquid hydrogen and oxygen used in the domain of space engineering has driven sales across the market.

Global Helium Market: Competitive Landscape

Weil Group
Taiyo Nippon Sanso Corporation
Messer Group
Air Products and Chemicals, Inc.
Iwatani Corporation

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