U.S. and Canada Helium Gas Market Size By Type (liquid helium and gaseous helium), By Application (cryogenics, semiconductor and fiber optics, welding and magnet production), By Geographic Scope And Forecast

U.S. and Canada Helium Gas Market Size And Forecast

U.S. and Canada Helium Gas Market size was valued at USD 2,499.51 Million in 2021 and is projected to reach USD 3,643.69 Million by 2030, growing at a CAGR of 4.60% from 2023 to 2030.

The growing use of helium in the semiconductor industry is driving the demand for the helium gas industry in the coming years. The U.S. and Canada report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

What is Helium Gas?

Helium is a vital element that cannot be replaced in the manufacture of MRI scanners, as well as in space exploration, rocketry, and some areas of scientific research. For other applications, other gases may replace helium, although not necessarily with the same performance or favorable economics.

Helium is produced either by the process of nuclear fusion of the Sun or by the slow and steady radioactive decay of the Earth’s rock, which is responsible for the entire Earth’s gas supply. It cannot be produced artificially and it is uneconomical to obtain it directly from the air. Instead, the vast majority of commercially available helium is obtained as a byproduct of natural gas production from a small number of natural gas reservoirs with relatively high helium concentrations. Over the past ten years or so, LNG has increased the amount of economically usable helium.

U.S. and Canada Helium Gas Market Overview

The growing use of helium in the semiconductor industry is driving the demand for the helium gas industry in the coming years. Helium is a noble gas. As a consequence, helium is chemically inert like nitrogen, with the extra benefit of having a high thermal conductivity. A number of the properties of liquid helium obtained from natural gas harvesting are used in the production of semiconductors. Helium is an “inert” gas, which means it doesn’t react with other elements, which makes it ideal for creating semiconductors. Furthermore, the surging demand for liquid helium from the medical fields further escalates its demand. Helium is utilized in the healthcare sector for a variety of purposes, including adjunct therapy for bronchiolitis, ARDS, croup, and asthmatic exacerbations. Helium is used in magnetic resonance imaging (MRI) equipment to control a strong magnet that is beneficial for monitoring conditions in the stomach, chest, and pelvis and for diagnosing pregnancy. In order to treat respiratory disorders including emphysema and asthma, helium gas might be utilized. Due to its usage in MRI scanners, NMR spectrometers, and as a cooling medium for magnets, liquid helium also serves medical purposes.

However, the helium shortage is forcing the end user application to look for potential alternatives to helium. A US helium facility in Cliffside, Texas, had to shut down in January due to a gas leak, necessitating urgent repairs. About a third of the world’s helium supply is now unavailable since the factory is still shut down after four months. During the same period, the Russian energy giant Gazprom finished the construction of a massive new helium plant in the far eastern city of Amur in September. However, the plant was severely damaged by fires on October 8 and January 5 and had to be shut down until at least the end of 2022.

Nevertheless, the growing space satellite applications propel the demand for helium. For instance, Helium is used by hydrogen-fueled rockets to cool any overheated satellite components while they are in orbit. Again, to cool the heated components, helium would be needed at a temperature of about 4 Kelvin (-460 degrees). The liquid helium is kept in a cryostat, which has multiple layers of insulation and can maintain a very low temperature for several years in space. In space rockets, astronauts use helium to evacuate any leftover gases while mixing hydrogen and oxygen in the fuel vessel. The gas is then pumped into the fuel tank to create pressure, which is used to launch the rocket into space. Helium is used to limit hydrogen flammability during take-off because it is inert, ensuring that the astronauts reach orbit without accident.

U.S. and Canada Helium Gas MarketSegmentation Analysis

U.S. and Canada Helium Gas Market is segmented on the basis of Type, Application and Geography.

U.S. and Canada Helium Gas Market by Type

• Liquid helium
• Gaseous helium

To Get Summarized Market Report By Type-

Based on the type, the helium gas market is segmented into liquid helium and gaseous helium. In 2021, the liquid helium segment accounted for the largest market share owing to the usage of NMR and MRI devices in medicine, which has raised the need for liquid helium. Helium is utilized extensively by electronics manufacturing businesses to produce flat-panel displays, semiconductors, and optical fibers. The material is used as a coolant in the fabrication of silicon wafers, electronic devices, and panel assembly.

U.S. and Canada Helium Gas Market by Application

• cryogenics
• semiconductor and fiber optics
• welding and magnet production
• aerostatics
• leak detection and gas chromatography
• medical field
• others

To Get Summarized Market Report By Application-

Based on the application, the helium gas market is segmented into cryogenics, semiconductor and fiber optics, welding and magnet production, aerostatics, leak detection and gas chromatography, medical field, and others. The medical field segment is dominant in the helium gas market in terms of revenue. There are numerous uses for helium in the medical industry. Since it can cool MRI magnets to a temperature of -269° C, liquid helium is the ideal option. Helium is also used to keep track of breathing. It is a key component in the treatment of asthma, emphysema, and other breathing problems.

U.S. and Canada Helium Gas Market by Geography

• U.S.
• Canada

To Get Summarized Market Report By Geography- 

The United States is the world’s biggest helium supplier, generating 2.15 billion cubic feet (61 million cubic meters) in 2020, accounting for around 44% of total global production. This estimate represents around 150 years of supply at 2020 US production levels. However, because helium is mostly created as a byproduct of natural gas production, it is improbable that all 306 billion cubic feet of helium would be produced. Since the beginning of the decade, the US helium supply has been declining, falling from roughly 4.7 bcf/y to 3.0 bcf/y. This is due to diminishing existing helium output, but more crucially, a steep drop in production out of storage from the BLM.

Helium is one of several intriguing chances for Canada to access its huge wealth of natural resources. As a result, the helium sector in the region will benefit greatly from this, while also ensuring that these in-demand resources are produced sustainably and responsibly. Saskatchewan has substantial subterranean helium reserves. Parts of Alberta, British Columbia, and Manitoba also offer significant growth potential as part of Canada’s expanding helium sector. Oil and gas firms drilling in Southwestern Saskatchewan discovered helium concentrations in nitrogen carrier gas in the 1950s and 1960s, leading to the development of several new wells throughout the years. However, Saskatchewan now has nine active helium wells and 24 in the drilling process. The provincial government anticipates that more than 100 helium wells will be discovered in Saskatchewan. The province just welcomed Canada’s largest helium purification factory, which is estimated to produce more than 50 million cubic feet of purified helium annually.

Key Players

The “U.S. and Canada Helium Gas Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are North American Helium, Weil Group, Airgas, Inc., Linde plc, Messer Americas, Air Products and Chemicals, Inc., Exxon Mobil Corporation, IACX Energy, Grand Gulf Energy, American Air Liquide Holdings, Inc., BLOW-IT Helium, Matheson, Leland Limited, Medical-Technical Gases, Inc., First Helium Inc., Royal Helium Ltd, Avanti Energy, Quantum Technology Corporation, Helium Evolution, and Desert Mountain Energy Corp.

The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally. The major players in the market are Exxon Mobil Corporation, Linde plc, and American Air Liquide Holdings, Inc.

Key Developments

North America Helium Expansion • North American Helium launched its third helium purification device. This facility is located near the village of Mankota in southwestern Saskatchewan.

Linde Recognition • Praxair Canada Inc., a subsidiary of Linde that operates in Canada, has changed its name to Linde Canada Inc. This name change represents the company’s evolution since the merger of Linde, Inc. and Linde AG and connects the Canadian operation with the global Linde brand. The company’s objective is to become the world’s top industrial gas and engineering company.

Messer Acquisition • According to the company, the majority of Linde Plc’s North American gases business as well as some of its South American commercial operations were acquired by Messer Group and CVC Capital Partners.

Air Products And Chemicals, Inc. Recognition • By a prospective $1.07 billion contract, Air Products and Chemicals will provide NASA’s Kennedy Space Center in Florida with 33 million liters of liquid helium and lease six unique liquid helium pumps.

Acquisition • Air Products announced that it has completed the acquisition of five steam methane reformer (SMR) hydrogen production facilities from PBF Energy Inc. for USD 530 million and started long-term hydrogen supply from these plants to PBF refineries. Air Products’ newly acquired SMRs, with a combined production capacity of nearly 300 million standard cubic feet per day, are located in Torrance and Martinez, California, and Delaware City, Delaware. Air Products originally announced this now-closed deal on 30.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each r