According to a new report, published by KBV research, The Global Helium Market size is expected to reach $5.3 billion by 2030, rising at a market growth of 6.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 1,50,979.9 tonnes, experiencing a growth of 3.3% (2019-2022).
The Liquid segment is experiencing a CAGR of 7.1% during (2023 - 2030). In applications where precise temperature control is required, such as cryogenics and superconductivity research, liquid helium is often preferred. It is extremely cold (close to absolute zero) and can maintain stable temperatures for extended periods, making it ideal for cooling superconducting magnets in MRI machines and particle accelerators.
The Medical & Healthcare segment is leading the Global Helium Market by End-use in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2 billion by 2030. The medical and healthcare sector is expanding globally, driven by several factors, including population growth, aging populations, increasing prevalence of chronic diseases, and advancements in medical technology. There is a growing emphasis on early detection and prevention of diseases, which has led to an increased demand for imaging techniques like MRI that can detect conditions in their early stages. MRI is also used for treatment planning and monitoring, especially in areas such as oncology, where it can help guide biopsies, plan radiation therapy, and monitor the response to treatment. Thus, the increasing use of MRI in clinical practice will grow the segment.
The Cryogenics segment is registering a CAGR of 4.5% during (2023 - 2030). The use of helium in cryogenics has been increasintheue to the unique properties that make it ideal for cooling applications requiring extremely low temperatures. One of the primary uses of helium in cryogenics is in superconducting applications. Helium is also used in cryogenic research and in the production of cryogenic fluids. Helium is employed in cryogenic research to attain temperatures approaching absolute zero (-273.15°C or -459.67°F) in order to investigate the characteristics of substances under such conditions. In producing cryogenic fluids such as liquid oxygen and liquid nitrogen, helium is used as a refrigerant to cool the gases to their liquid state.
Full Report: https://www.kbvresearch.com/helium-market/
The North America region dominated the Global Helium Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.9 billion by 2030. The Europe region is anticipating a CAGR of 6.2% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 7% during (2023 - 2030).
By Phase (Volume, Tonnes, USD Billion, 2019-2030)
By End-use (Volume, Tonnes, USD Billion, 2019-2030)
By Application (Volume, Tonnes, USD Billion, 2019-2030)
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