CLEVELAND, March 4, 2021 /PRNewswire/ -- US demand for helium is forecast to grow 3.2% per year in volume terms through 2024, according to Helium: United States, a report recently released by Freedonia Focus Reports. Advances will reflect anticipated expansion in supply and related decline in prices, as well as rising demand for helium in healthcare and scientific research applications. Structural declines will prevent faster growth, specifically in markets where end users implemented helium recycling equipment or equipment compatible with less expensive and more available gases.
Demand for helium in cryogenics end uses is forecast to remain the largest and fastest growing segment, increasing 5.0% per year through 2024. Demand for replacement magnetic resonance imaging (MRI) units will be supported by a trend toward high-field-strength units, which will bolster demand for helium, as such units often require more coolant. In addition, an aging domestic population and expanding uses for MRI in medical diagnosis will continue to boost machine demand and utilization, supporting consumption during production and maintenance.
These and other key insights are featured in Helium: United States. This report forecasts to 2024 US helium demand in cubic meters. Total demand is segmented by end uses in terms of:
pressuring and purging
other end uses such as chromatography and lifting gas
To illustrate historical trends, total demand and the various segments are provided in annual series from 2009 to 2019.
About Freedonia Focus Reports Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Materials & Chemicals reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
total historical market size and industry output
segmentation by products and markets
identification of market drivers, constraints, and key indicators