NEW YORK, Sept. 11, 2019 /PRNewswire/ --
Market Overview
The market for helium is expected to register a CAGR of 3.69%
during the forecast period of 2019-2024. Major factors driving the
market are the increasing consumption of helium in the electronics
and semiconductor industry and the growing usage in healthcare
system. However, the high cost of the extraction process and the
stringent government regulations concerning helium use are likely
to hinder the growth of the market studied.
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- Gas phase helium dominated the market in 2018, and it is also
projected to register the highest CAGR during the forecast
period.
- Development of efficient storage and transport methods for gases
is anticipated to provide numerous opportunities over the forecast
period.
- North America dominated the
market with the largest consumption, followed by Asia-Pacific and Europe. However, Asia-Pacific is likely to register the highest
CAGR through the forecast period.
Key Market Trends
Electronics Industry to Drive the Market Growth
- The electronics and semiconductor industry is a significant
consumer of helium. Helium is used as the sleeve in rods that
create LCD screens. It is also used as a protective gas for
flushing vessels, during the processing of semiconductor chips, and
as a cooling gas during the growth of silicon crystals.
- Helium is also considered vital for the manufacturing of optic
fiber cables, as the presence of helium in the atmosphere prevents
bubble trapping inside the fiber cables. Hard drives are filled
with helium, in order to achieve large amounts of disks and high
data storage capacity.
- Due to the increasing focus on the adoption of small size, the
use of semiconductor chips or integrated circuits is increasing at
a high rate, not only for the computers and smartphones but also
for memory chips and image sensors.
- The mass production of electronic devices in Taiwan, China, and India is responsible for the high demand for
helium in the region. Moreover, the Chinese government is aiming to
raise up to USD 31.5 billion, to
invest in domestic chip companies, in order to build a world-class
semiconductor industry, which is likely to further propel the
growth of the helium market.
North America to Dominate the
Market
North America accounted for the
largest share of the market, with the
United States alone consuming a share of more than 33% of
the global market (more than the entire Asia-Pacific region). The United States is the world's largest and
most powerful economy. In terms of size, the electronics market in
the United States is the largest
market. Owing to the rapid pace of innovation in the advancement of
technology and R&D activities in the electronics industry,
there is a high demand for newer and faster electronic products.
Owing to the usage of advance technology, the increasing number of
R&D centers, and rising demand from consumers, the helium
market is expected to grow over the forecast period. The United States expenditure in healthcare
stood at USD 3.48 trillion in 2017,
and is further expected to increase in 2018. The increasing
geriatric population and the increasing requirement for medical
facilities for the treatment of chronic diseases have been
supporting the growth of the healthcare sector, as well as the
consumption of helium in the country, over the forecast period.
Competitive Landscape
The helium market is highly consolidated, with the top four players
accounting for approximately 85% of the total market. The major
market players include Air Products and Chemicals Inc., Air
Liquide, Linde plc (Praxair Technology Inc.), Taiyo Nippon Sanso
Corporation, Iwatani Corporation, Messer Group, etc. With the
merger of Linde AG and Praxair Technology Inc. closed in
Oct 2018, the combined entity is a
global industrial gas leader with a market capitalization of
approximately USD 90 billion.
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