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

So, the semiconductor industry's really hungry for helium, and that's giving the whole helium market a serious boost in the coming years. Helium's one of those noble gases, kind of a loner – chemically inert, like nitrogen, but with this amazing high thermal conductivity. All those properties of liquid helium, the stuff we get from natural gas, are super useful in making semiconductors. Because helium is an “inert” gas, it doesn't react with much, which makes it perfect for building those tiny circuits. Plus, the medical field's need for liquid helium is really driving up demand. Helium is everywhere in healthcare, used for things like helping kids with bronchiolitis, ARDS, croup, and asthma attacks. And get this, it's absolutely essential for magnetic resonance imaging (MRI) machines, keeping those powerful magnets cool so they can see what's going on inside your stomach, chest, pelvis, and even track a pregnancy! They might even use helium gas to help people breathe easier if they have emphysema or asthma. You know, liquid helium is also critical for medicine as it's inside MRI scanners and NMR spectrometers, acting as a fantastic cooling agent for those seriously powerful magnets. Pretty cool, right?

Okay, so check it outthis whole helium shortage thing is making people seriously consider other options, you know? And remember that huge helium facility in Cliffside, Texas? Well, that place had to shut its doors back in January thanks to a gas leak – total bummer. They're still working to get it fixed, but since it's been offline for four whole months, we're talking about a third of the world's helium supply just poof! gone. But wait, there's more! Right around the same time, Gazprom, that big Russian energy company, finally finished their gigantic new helium plant way out in Amur in September. But, seriously, it caught fire twice (October 8th and January 5th) and is now out of commission. Word is, it won't be back up and running until at least the end of 2022!

So, get thisall those awesome satellites being launched are actually making us need more helium! Crazy, right? Like, those rockets using hydrogen fuel? They need helium to stop the satellite parts from roasting way up in space. We're talking seriously chilled helium – like, 4 Kelvin (-460 degrees!) – to cool everything down. That liquid helium lives in this thing called a cryostat – it's basically a super-thermos that keeps things insanely cold for years, even in space. And wait for it... astronauts also use helium in space rockets to flush out any leftover gasses when they're mixing hydrogen and oxygen for fuel. Then, they pump the helium into the fuel tank to create pressure that launches the rocket into space. Oh, and because helium's super chill (inert, that is), it helps keep the hydrogen from being too flammable when they take off, so everyone gets to orbit safe and sound. Pretty neat, huh?

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- 

Okay, so the US and helium? We're kind of a big deal! In 2020, we produced a massive 2.15 billion cubic feet (that's 61 million cubic meters!), making up about 44% of the world's total. That's a lot of balloons! Sounds like we're swimming in the stuff, right? Estimates say we've got around 150 years’ worth at that rate. But, here's the catchhelium's usually a byproduct of natural gas production. So, even though there's potentially 306 billion cubic feet of helium waiting underground, we probably won't get to all of it. And here's another thingour helium supply has actually been decreasing since 2020, dropping from about 4.7 bcf/y to 3.0 bcf/y. This is partly due to declining helium extraction from current sources, and also because the BLM's storage production has taken a real hit.

Canada's looking at a major win, potentially unlocking its massive natural resources with helium leading the charge! It's a huge chance to give the helium industry a real kick, ensuring we snag these valuable resources in a way that's both responsible and sustainable. Saskatchewan is practically sitting on a helium treasure trove, with Alberta, British Columbia, and Manitoba also showing serious potential for Canada's booming helium market. Believe it or not, way back in the '50s and '60s, oil and gas folks drilling in Southwestern Saskatchewan stumbled upon helium mixed with nitrogen, leading to the development of dedicated wells. Today, Saskatchewan boasts nine active helium wells, with another 24 in the works! The province is even forecasting over 100 helium wells to pop up in Saskatchewan. And here's the kicker – they just launched Canada’s largest helium purification facility, expected to churn out more than 50 million cubic feet of that precious helium annually! Learn more here.

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