Helium Market Size, Share, Growth Analysis, By Phase (Breathing Mixes, Cryogenics), By Application, By End-use, By Region - Industry Forecast 2024-2031

Global Helium Market size was valued at USD 3.2 billion in 2022 and is poised to grow from USD 3.34 billion in 2023 to USD 4.76 billion by 2031, growing at a CAGR of 4.5% during the forecast period (2024-2031).

Helium is used as a coolant for the Large Hadron Collider (LHC) and superconducting magnets in MRI scanners and NMR spectrometers. It is also used to cool satellite instruments and was used to cool the liquid oxygen and hydrogen that powered the Apollo spacecraft. The main types of helium are liquid helium and gaseous helium. Liquid helium is a superfluid, it essentially behaves like a zero-viscosity fluid governed by Euler's equations.

These are used in applications such as breathing mixtures, cryogenics, leak detection, pressurization and purging, welding, controlled atmosphere, and other applications that are used by end-users such as aerospace and aircraft, electronics and semiconductors, nuclear power, healthcare, welding, and metal fabrication, and other end-user industries.

Helium is used in various healthcare applications as adjunctive therapy in the exacerbation of asthma, ARDS, croup, COPD, and bronchiolitis. For example, helium is used in magnetic resonance imaging (MRI) systems to regulate powerful magnets, which is useful for monitoring various conditions of the abdomen, chest, and pelvis, and also useful for diagnosing pregnancy.

US Helium Market is poised to grow at a sustainable CAGR for the next forecast year.