The scope of our recent study on the "Helium Market Forecast to 2031 - Global Analysis - by Type, Application, End-use Industry, and Geography" includes the factors fueling the helium market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.
The helium market size is projected to reach US$ 4.62 billion in 2023 to US$ 7.25 billion by 2031; it is estimated to register a CAGR of 5.8% from 2023 to 2031.
The healthcare sector is one of the primary end users of helium. Helium plays an important role in medical imaging, particularly in magnetic resonance imaging (MRI) scanners. It acts as a cooling agent for superconducting magnets that are essential for the machine's function. Helium also finds significant applications in cryogenics in healthcare, wherein its extremely low temperature is utilized to preserve biological samples. The element is also employed in medical equipment such as lung ventilators, where a mix of oxygen and helium aids patients suffering from respiratory issues by reducing the density of the gas mixture. Increasing population, rising technological advancements, and evolving patient needs are driving the growth of various healthcare industries across the world. Australia, China, India, Indonesia, Japan, New Zealand, South Korea, Thailand, and Vietnam, among others, are key enablers of the healthcare market growth in Asia Pacific. The notable market growth in these countries is attributed to a significant population base and the rising number of pharmaceutical companies. Asia Pacific accounts for more than 60% of the global population, which serves as an immense commercial opportunity for biopharmaceutical, medical device, and healthcare companies. The region has also emerged as one of the most prominent healthcare technology investment destinations in the world. Moreover, the population in several Asia Pacific countries is rapidly aging?, ?boosting the need for hospitals, home healthcare, and hospice care.
Helium plays a crucial role in semiconductor manufacturing due to its unique properties, such as being inert, having high thermal conductivity, and low boiling point. It is used as a cooling and carrier gas in various steps of semiconductor production, ensuring optimal conditions for processes that require precision and stability. During the etching and deposition stages, helium acts as a carrier gas that helps regulate the temperature and remove byproducts, maintaining a clean environment that enhances the reliability and quality of the microchips. Additionally, helium's use in plasma etching aids in creating finely detailed circuits by helping control the plasma density and ion energy, which are essential for precise patterning on wafers. The gas also plays a role in leak detection within semiconductor fabrication equipment, ensuring that no contaminants compromise the integrity of the highly sensitive production processes. Due to its properties, helium contributes significantly to the efficiency, yield, and performance of semiconductor devices.
Asia Pacific accounted for a remarkable share of the helium market in 2023. China and India are the largest markets for helium in Europe. China is the largest manufacturer worldwide, with the presence of several diverse industries. Also, China is the global leader in the production of passenger cars, commercial vehicles, and electronic product assembly. The government of China has introduced the "Made in China 2025" initiative, which further drives the manufacturing sector. Helium is a critical component in the manufacturing of semiconductors, including a wide range of electronic devices. With China being a global leader in electronics production and its commitment to advancing its semiconductor industry, the need for helium in these processes continues to grow. Additionally, helium is used in fiber optics manufacturing and as a leak detection gas, further enhancing its importance in the tech industry.
India has emerged as a significant player in electronic manufacturing, with the Government of India's "Make in India" initiative and various incentives attracting multinational companies to build production facilities in the country. In September 2022, the Government of India revamped its US$ 10 billion Production Linked Incentive (PLI) scheme to provide up to 50% co-funding for project costs of building semiconductor fabs and display fabs. In February 2024, the Government of India approved the construction of three semiconductor plants by companies such as Tata Group and CG Power, with a total valuation of US$ 15.2 billion. Thus, growing emphasis on semiconductor manufacturing is driving demand for helium, which is used to rapidly cool down chips during the production process.
Based on end-use industry, the electronics and semiconductors segment is projected to register the fastest CAGR from 2023 to 2031. Helium is one of the major atmospheric gases used in the electronics and semiconductors industry. It is used to manufacture fiber optic cables that are used as high-speed cables. These cables are also used in Wi-Fi applications. Moreover, helium plays a significant role in improving storage capacities in computer hard drives and cooling semiconductor chips used in smartphones, TVs, computers, tablets, and other products. Semiconductor manufacturing processes require various chemicals and specialty gases. Helium is used throughout the semiconductor manufacturing process, particularly for wafer cooling, wherein no other viable alternatives exist owing to helium's cryogenic properties, exceptional thermal conductivity, chemical inertness, and high diffusivity. The demand for helium in semiconductor manufacturing is increasing with the US Chips Act, EU Chips Act, and several other initiatives taken by governments across the world to boost the semiconductor industry's growth.
Asia Pacific is expected to register the fastest CAGR in the global helium market from 2023 to 2031. Asia Pacific is one of the prominent markets utilizing helium owing to the growing industries such as healthcare, electronics, semiconductors, and space exploration in several countries in the region. Asia Pacific is one of the largest manufacturers of semiconductors and electronics, with countries such as Taiwan, South Korea, and China leading the global market. An increasing number of on-fleet vehicles in countries such as China, India, and South Korea propels the demand for printed circuit boards (PCBs) and semiconductors. With China's evolution into a high-skilled manufacturing hub, developing countries such as South Korea, India, Taiwan, and Vietnam are attracting several businesses that plan to relocate their low- to medium-skilled manufacturing facilities to neighboring countries to benefit from the low labor costs existing in these countries. As per the study by the Semiconductor Industry Association, ~75% of global semiconductor capacity is based in China and East Asia. Semiconductor companies will benefit from a cost advantage of 25-50% with the start of manufacturing activities in the region. Helium plays a critical role in semiconductor manufacturing, wherein it is used as a coolant and protective gas in processes that require high precision, such as chip production. With the increasing demand for consumer electronics, 5G networks, and EVs, the need for semiconductors is expected to grow in the coming years, resulting in higher helium consumption.
The report includes the segmentation of the global helium market as follows:
The global helium market is segmented based on type, application, and end-use industry. Based on type, the market is bifurcated into liquid and helium. In terms of application, the market is segmented into breathing mixes, cryogenics, leak detection, pressurizing and purging, welding, controlled atmosphere, semiconductor, MRI, and others. By end-use industry, the market is segmented into aerospace, automotive, electronics and semiconductors, power, healthcare, welding and metal fabrication, recreation or events, and others.
By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The helium market in Europe is sub-segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific helium market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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