Helium Gas Market Research Report By Application (Medical, Industrial, Electronics, Research and Development), By Purity (High Purity Helium (99.99% or higher), Medium Purity Helium (99% to 99.99%), Low Purity Helium (below 99%)), By Source (Natural Gas, Air Separation Plants), By Form (Liquefied Helium, Compressed Helium), By End User (Healthcare, Manufacturing, Aerospace and Defense, Research Institutions) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032.

Global Helium Gas Market Overview

The Helium Gas Market Size was estimated at 9.59 (USD Billion) in 2022. The Helium Gas Market Industry is expected to grow from 9.95(USD Billion) in 2023 to 13.8 (USD Billion) by 2032. The Helium Gas Market CAGR (growth rate) is expected to be around 3.7% during the forecast period (2023 - 2032).

Key Helium Gas Market Trends Highlighted

The helium gas market is projected to witness a steady growth in the coming years due to rising demand from various end-use industries. One of the key drivers for this growth is the increasing use of helium in medical applications, such as MRI scanners and respiratory therapy. The expanding electronics and semiconductor industries also contribute to the demand for helium as it is used in the manufacturing processes of these devices.Furthermore, the helium gas market is witnessing a shift towards greener and more sustainable practices. Helium recovery and recycling technologies are gaining traction, reducing the reliance on finite helium resources. This trend presents opportunities for companies to invest in innovative solutions that promote resource conservation.Recent advancements in the production and distribution of helium gas have also impacted the market dynamics. The development of new cryogenic separation technologies and the utilization of untapped helium sources, such as natural gas fields and geothermal reservoirs, are promising areas for growth. As a result, the helium gas market is expected to remain competitive with evolving technologies and increasing demand from diverse industries.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Helium Gas Market Drivers

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  Increasing Demand from Healthcare Sector

  
  

The healthcare sector is a key consumer of helium gas. An increase in the demand of helium gas in healthcare can be attributed to the rising concern of chronic diseases. Recent days the issues pertaining to controllable and uncontrollable diseases are gradually increasing which results in raising the demand on helium gas for operating MRI scan tests. Even out of traditional tests like trauma care, respiratory therapy helium gas is used nowadays in cryotherapy and in many as a source for freezing body parts of patients for doing various operations.Hence the demand of helium gas is increasing into healthcare. It is one of the major factors drawing the growth of  Helium Gas Market Industry.

Growing Adoption in Aerospace and Aviation

Helium gas is an element that has become indispensable in the aerospace and aviation industries. This gas is used as a lifting gas in airships or balloons. It can also be used to purge fuel tanks and cool an array of aircraft equipment, such as the craft’s power supply and sensors. The demand for helium gas will rise in this industry as the numbers of people wanting to avail themselves of aeroplane and spacecraft services grow.

Expansion of Semiconductor Manufacturing

Helium gas is needed for the manufacturing of semiconductors which are used in a variety of electronic devices. The demand for semiconductors is projected to increase in the years to come. This is as a result of the increasing usability of electronic devices and the development in AI and 5G technologies.

Helium Gas Market Segment Insights

Helium Gas Market Application Insights  

The  Helium Gas Market is divided by the most popular applications: Medical, Industrial, Electronics, and Research and Development. The Medical segment was the most popular in 2023. It is expected to be the most popular also in 2032. The MRI and fMRI technology is the leading influencer of such a high interest in helium. The Medical segment also benefits from the usage of helium in respiratory therapy, cryosurgery, and anesthesia.The Industrial segment is the second leader in the demand for helium. The Industrial segment is also going to develop at the highest pace. This increase is explained by the usage of helium in welding, metalworking, and semiconductors. The Electronics segment is going to develop rapidly as well. It takes the third position with respect to the demand for helium. The growing demand for flat panel displays, fiber optic cables, and semiconductors stimulates the usage of helium. The Research and Development segment is not expected to develop at the highest pace. It is going to take the fourth position in 2032. Nevertheless, it is worth mentioning that the Research and Development segment is not static. It follows the demands of the market.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Helium Gas Market Purity Insights  

The purity of helium gas has a vital impact on the applications as well as the market segmentation. Considering the revenues, the  helium gas market is dominated by the High Purity Helium, 99.99% and more, which meets the needs of critical industries, such as electronics, semiconductors, not to mention medical imaging. The current purity levels of this type allow the specialists to apply this kind of helium gas to the applications in need of exact mixtures and leakage screenings. As far as the Medium Purity Helium is concerned, 99% – 99.99%, the given type is used in welding, heat treatment, and laboratory research.Finally, the Low Purity Helium, below 99%, is used for balloons inflation, party decoration, and diving tanks. Speaking of the segmentation aspects, the market growth of each gas type is defined by the demand of the industries mentioned above and the processes that used to be impossible a few years ago, but now have become regular and highly demanded.

Helium Gas Market Source Insights  

Source Segment Insights and Overview of the  Helium Gas Market by source is segmented into Natural Gas and Air Separation Plants. Natural Gas is the dominant source of helium, accounting for over 95% of  helium production in 2023. The high concentration of helium in natural gas, coupled with the increasing demand for helium in various industries, is driving the growth of this segment. Air Separation Plants, on the other hand, are expected to witness significant growth in the coming years due to the increasing adoption of helium recovery technologies and the growing demand for helium in the medical and electronics industries.The  Helium Gas Market from Air Separation Plants is projected to reach USD 1.2 billion by 2032, growing at a CAGR of 4.2% during the forecast period.

Helium Gas Market Form Insights  

The  Helium Gas Market is segmented by Form into Liquefied Helium and Compressed Helium. Liquefied Helium held the largest market share in 2023, accounting for over 60% of the  market. This is due to its higher purity and lower transportation costs compared to Compressed Helium. Liquefied Helium is used in a variety of applications, including MRI scanners, semiconductor manufacturing, and cryogenic research. Compressed Helium, on the other hand, is more commonly used in applications such as welding, leak detection, and party balloons.The market for Compressed Helium is expected to grow at a CAGR of around 3.5% during the forecast period, driven by increasing demand from the welding and construction industries. Overall, the  Helium Gas Market is expected to reach a value of USD 13.8 billion by 2032, growing at a CAGR of 3.7% during the forecast period.

Helium Gas Market End User Insights  

The  Helium Gas Market is segmented into various end-user industries, including Healthcare, Manufacturing, Aerospace and Defense, and Research Institutions. Each segment holds a distinct market share and exhibits unique growth dynamics. In 2023, the Healthcare segment accounted for a significant portion of the  Helium Gas Market revenue, driven by its extensive use in medical procedures such as Magnetic Resonance Imaging (MRI) and cryotherapy. The demand for helium in healthcare is projected to remain robust in the coming years, supported by the growing prevalence of chronic diseases and advancements in medical technologies.The Manufacturing segment is another major end-user of helium gas. Helium is used in various industrial processes, including welding, metal fabrication, and semiconductor manufacturing. The  Helium Gas Market in the manufacturing sector is anticipated to witness steady growth, fueled by the increasing demand for high-tech products and the expansion of manufacturing activities across emerging economies. The Aerospace and Defense industry is a key end-user of helium gas, primarily for balloon-borne applications and cryogenic cooling systems.Helium's unique properties, such as its low density and high thermal conductivity, make it indispensable for these specialized applications. The  Helium Gas Market in the aerospace and defense sector is expected to exhibit moderate growth in the future, driven by ongoing government investments in defense programs and space exploration initiatives. Research Institutions are another significant end-user segment for helium gas. Helium is extensively used in scientific research, particularly in cryogenics, particle accelerators, and high-energy physics experiments.

Helium Gas Market Regional Insights  

North America held the largest market share in 2023, primarily due to the presence of major helium-producing countries such as the United States and Canada. Europe is expected to witness significant growth over the forecast period, driven by increasing demand from the medical and industrial sectors. APAC is anticipated to be the fastest-growing region, with China and India emerging as key markets. South America and MEA are expected to contribute a smaller share to the overall market but are projected to grow steadily.This growth is attributed to rising demand from various end-use industries, including healthcare, electronics, and aerospace.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Helium Gas Market Key Players and Competitive Insights

The supreme players in the helium gas market industry are busy enlarging their producing capacity. The key participants are as well as busy with the research and development of helium gas to enhance their technology. Major helium gas market companies are employing different technologies to enhance the production capacity by adopting business strategies such as mergers, the acquisition of other firms, partnerships, and acupuncture. The basic shortage through the helium gas market exists due to a growing demand in the healthcare sector, aerospace so, of nucleosynthetic, research, and electronics. The trend of  helium gas market is expected to be remaining fragmented in which few key players will hold most of the share.One of the major competitors in the helium gas market is Iwatani Corporation, the company is busy to expand their presence by the acquisition of other companies and construction of new projects. Recently, the company has acquired helium productions, which will increase the company’s production capacity by 20%. The company is busy in the research and development of the technology to enhance the purification and extraction technology.Another manufacturer, Air Liquide is busy in expansion of these distributing center into and to northern spending on healthcare so,  helium gas market. Recently, the company has signed long-term agreements with a large helium producer that pilots the company to increase the production of helium. Air occupies is that the research and development units of helium purification and storage facilities in the helium gas market.

Key Companies in the Helium Gas Market Include

• Nanjing Hanheng Gas Equipment Co., Ltd.


• Linde plc


• Praxair


• Chart Industries


• Quantum Environmental Technologies


• Air Liquide


• Matheson TriGas


• Taiyo Nippon Sanso Corporation


• Southern Union


• Iwatani Corporation


• Air Products Chemicals


• Gulf Cryo


• Trinity Hydrogen


• Messer Group

Helium Gas Market Industry Developments

The  helium gas market is projected to reach $13.8 billion by 2032, exhibiting a CAGR of 3.7% from 2024 to 2032. The increasing demand for helium in various industries, such as medical, aerospace, and electronics, is driving market growth. The medical sector accounts for the largest share due to the use of helium in MRI scanners and other medical equipment. Growing investments in space exploration and the rising popularity of helium balloons are also contributing to market expansion. Key industry participants include Air Liquide, Iwatani Corporation, and Praxair Technology, Inc. Technological advancements, such as the development of helium recovery systems, are expected to further enhance market growth in the coming years.

Helium Gas Market Segmentation Insights

Helium Gas Market Application Outlook

• Medical


• Industrial


• Electronics


• Research and Development

Helium Gas Market Purity Outlook

• High Purity Helium (99.99% or higher)


• Medium Purity Helium (99% to 99.99%)


• Low Purity Helium (below 99%)

Helium Gas Market Source Outlook

• Natural Gas


• Air Separation Plants

Helium Gas Market Form Outlook

• Liquefied Helium


• Compressed Helium

Helium Gas Market End User Outlook

• Healthcare


• Manufacturing


• Aerospace and Defense


• Research Institutions

Helium Gas Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa