Helium Market - Growth, Trends, and Forecast (2019 - 2024)
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.
Read the full report: https://www.reportlinker.com/p05815059/?utm_source=PRN
- 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.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p05815059/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article