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The Gaseous and Liquid Helium Market is Estimated To Witness High Growth Owing To Helium use growing across end use industries

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The Gaseous and Liquid Helium Market is estimated to be valued at US$ 7.05 Bn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Helium is an inert chemical element and only gas that remains liquid at atmospheric pressure below its boiling point of -268.9°C. It has applications across various industries including medical, aerospace, electronics and energy sector. Due to its exceptional properties such as lack of reactivity, low boiling point and ability to leak through even the smallest openings, liquid and gaseous helium finds use in welding, pressurizing and purging, cryogenics and semiconductor manufacturing.

Market key trends:
One of the major trends driving the growth of the Global Gaseous And Liquid Helium Market Size is growing demand from healthcare sector. Helium is used for magnetic resonance imaging (MRI) where it is purged into magnets in order to reduce friction and maintain minimal temperature. It also finds applications in leak detection in cryogenic rooms and vessels used for liquid oxygen and other gases. Expanding healthcare infrastructure especially in emerging economies is fueling the need for advanced diagnostic solutions like MRI thereby supporting helium consumption. The other factor aiding market growth is increasing requirement from electronics industry. Due to ability to efficiently transfer heat, liquid helium is used extensively for cooling of superconducting magnets employed in manufacturing of computer chips, flat panel displays and semiconductor materials. Mounting electronics production across the globe is positively impacting market revenue over coming years.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate for the gaseous and liquid helium market due to high capital requirements to set up helium production facilities and stringent regulations. Bargaining power of buyers: The bargaining power of buyers is high in the gaseous and liquid helium market as it is a niche product with limited sellers and buyers can easily switch between suppliers. Bargaining power of suppliers: The bargaining power of suppliers is high given the limited number of producers and suppliers of helium globally. Suppliers have control over prices. Threat of new substitutes: There are limited substitutes for helium in applications such as MRI and welding due to its unique physical and chemical properties. Competitive rivalry: Intense competition exists among existing players.

SWOT Analysis
Strength: Helium has unique properties such as being inert and lightweight which make it irreplaceable in critical applications. Weakness: Limited natural sources and reserves of helium threaten its supply. Production of helium is a capital intensive process. Opportunity: Growing end-use industries such as healthcare, aerospace and electronics are driving demand for helium. Threats: Stringent government regulations pertaining to helium export and possible alternatives can impact the market.

Key Takeaways
The global gaseous and liquid helium market is expected to witness high growth at a CAGR of 22% over the forecast period, due to increasing demand from diverse end-use industries such as healthcare, electronics and aerospace. Regionally, North America dominated the global market in 2023 with the largest reserves of helium and is expected to continue to remain the fastest growing market during the forecast period.

Key players operating in the gaseous and liquid helium market include Air Products and Chemicals, Inc., Linde plc, Praxair, Inc. (now part of Linde), Air Liquide S.A., Gazprom, RasGas (now part of Qatar Petroleum), ExxonMobil Corporation, Matheson Tri-Gas, Inc., Iwatani Corporation, Messer Group GmbH.

Read Our More Blogs : https://www.dailyprbulletin.com/gaseous-and-liquid-helium-market-forecast-outlook-trend-2023-2030/

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