Market for Helium to Gain Impetus Globally by Growing at CAGR of more than 6%
The global helium market is anticipated to show a CAGR of 6% for next 6 years. The new research report “Global Helium Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 to 2023” provided by DecisionDatabases.com elaborately covers the current and future market dynamics of this market.
Increase in urbanization and industrialization in developing economies of India and China is the major factor that drives the demand of global helium market. The massive research done in helium production and developing semi-conductor industry are the major factors pushing the market uphill. Helium is widely used in NMR machines, MRI (magnetic resonance imaging) and nuclear reactors as a coolant. MRI machines function by generating an intense magnetic field through a superconducting magnet and a series of current-carrying coils. Moreover, the use of helium in MRI equipment is another significant factor which is anticipated to propel the demand for helium over the next five years.
Global helium market can be segmented on the basis of product, application and distribution model. By product, the global helium market can be classified into gaseous helium and liquid helium. Based on applications, the global helium market can be segmented into health care, aerostatics, transportation, electronics, cryogenics, semiconductor & fibre optics, leak detection & gas chromatography, welding and others. Helium is widely employed as a cryogenic coolant in most of the defence research and cutting edge. Liquid helium is used in quantum mechanics to analyse the behaviour and atomic structure of subatomic particles such as protons, neutrons and electrons and thus such efforts are contributing to the demand for the helium market globally. Based on distribution model, the global helium market can be segmented into merchant, packaged and on-site. Among these, the packaged mode of distribution accounted for approximately half of the market share during the previous year. Consumers with small volume requirements are usually catered through the packaged distribution mode, where compressed gas is sold in metal cylinders. These cylinders are often delivered to the customer's facilities on-demand or can be bought by the consumer at a chain of vendor-owned or distributor facilities.
Geographically, the report segments the global helium market into regions such as North America, Europe, Latin America, Asia Pacific and the Middle East & Africa. Of above, North America led the market in terms of consumption in 2016 and it occupies the largest share of the helium market. Asia-Pacific is anticipated to be the fastest-growing regional segment in the coming years owing to faster pace of urbanization and industrialization in emerging economies such as India and China. The single largest consumer of helium in the world is U.S., followed by Europe and Asia-Pacific. However, the ample demand for helium in countries, such as India and China, for electronics & semiconductors, has made Asia-Pacific an area of huge potential for market growth.
The major global and domestic players operating in the helium market include Matheson Tri-Gas, Inc., Air Liquid, Qatar gas Operating Company (Qatar gas), Air Products & Chemicals, Inc., Linde AG, ONEOK, Praxair, Inc., Ras Laffan Liquefied Natural Gas Company (RasGas), Sonatrach Spa, IACX Energy, ExxonMobil Corp., Polish Oil and Gas Company (PGNiG), DCP Midstream, and OAO Gazprom.
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