May 10, 2022
According to the recent research report titled ‘Global Helium Market (2021 Edition) - Analysis by Type (Gaseous, Liquid), Application (MRI Machines, Lifting, Scientific, Semiconductor, Welding, Others), By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’ available with MarketStudyReport, global helium market recorded USD 4462.19 million in 2020 and is expected to have exponential growth through 2026.
The factors driving the global helium market growth are growing product demand from the healthcare, electronic, and space travel balloons applications. It is worth noting that high prices and a limited amount of Helium drive purchasers to buy in bulk at the lowest feasible price and store it for future use.
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Helium demand is growing due to its increased use in practically all sectors around the world. The product is an extremely demanding and price-inelastic raw commodity in the world market due to the fact that it cannot be synthesized, substituted, or manufactured in many situations.
Global helium market is segmented in terms of type, application scope, and regional landscape.
By type, the market is segmented into liquid and gaseous. Among these, the gaseous segment is predicted to grow significantly during the forecast period. The gaseous form of Helium is known to have significant development potential in the next years because it is used in a variety of industries such as chromatography, electronics (production cooling), laboratory applications, and breathing atmospheres, among others.
On the basis of application landscape, the market is bifurcated into lifting, scientific usage, MRI/NMR machines, welding, and others.
The regional landscape of global helium marketplace extends to Europe, Asia Pacific, the Middle East & Africa, Latin America, and North America.
In 2020, Asia Pacific captured the largest market share owing to the highest helium demand and will continue to be the major consumer during the analysis period. This high demand fueled by rapid expansion of electronics sector in the region. In Asia, helium is used extensively in microelectronics, flat-panel screen, and optical fiber manufacturing.
The competitive landscape of global helium market is defined by companies such as Messer Group, Iwatani Corporation, ExxonMobil Corporation, Gazprom Energy, Saudi Aramco, Uniper SE, Polskie Górnictwo Naftowe i Gazownictwo S.A, Linde plc., and Air Liquide S.A.