Helium Market size was valued at USD 13.2 billion in 2021, growing at a CAGR of 8.2% during the forecast period 2022 to 2028. The global market report by PBI provides a thorough overview of the Helium market, which can be segmented by product type, process, end-user industry, and geography. By product type, the helium market is segmented into Liquid Helium, Gaseous Helium. Liquid helium is used in various end-user industries and processes, viz., in MRI, space technology, medical devices, scientific research, etc. Thus, the liquid helium segment is expected to grow the most in the forecast period. Based on the process, the Helium market is segmented into breathing mixes, medical devices, cryogenics, leak detection, pressurizing and purging, welding, and others. The use of helium can be estimated to increase in breathing mixes, cryogenics, and medical devices. Based on the end-user industry, aerospace and aircraft, electronics and semiconductors, nuclear power, healthcare, welding and metal fabrication, and others. Growing demand for helium in electronics and semiconductor industries, aerospace industries, and healthcare industries can be estimated following the trend of technology and society. Thus, the helium market will increase in these application segments in the forecast period.
In October 2022. A report published by gas world newsletter state that the global shortage of helium to reach its peak in the last quarter of 2022 due to hamper in production facility.
In January 2020, the purchase of the Ladder Creek helium plant and gathering system from DCP Midstream was announced by Tumbleweed Midstream. West of Colorado’s Cheyenne Wells is where the plant is situated. With an average concentration of roughly 3%, the helium produced in this area has a high helium content.