Helium market seen reaching $4.9 billion by 2032

Allied Market Research says the global helium market is on track to grow from $3.3 billion in 2022 to $4.9 billion by 2032, driven by healthcare demand, technology advances and helium recycling. Asia-Pacific, liquid helium and the electronics sector are expected to be among the fastest-growing areas. Why it matters: - Helium is a critical input for healthcare, electronics, aerospace and cryogenic systems. - The market outlook points to steady demand even as limited reserves continue to constrain supply. - Recycling and conservation technologies could help ease supply pressure and open new growth opportunities. What happened: - Allied Market Research published a report on the global helium market covering phase type, application, end-use industry and region. - The report values the market at $3.3 billion in 2022 and projects growth to $4.9 billion by 2032. - The forecast implies a 4.2% compound annual growth rate from 2023 to 2032. - The report includes a sample download and a purchase inquiry page for the full research. The details: - Gaseous helium held the largest share in 2022, with more than two-thirds of global revenue, and is expected to stay the largest phase through 2032. - Liquid helium is projected to post the fastest phase growth, with a 4.7% CAGR, supported by cryogenic uses and its boiling point of -268.93 degrees Celsius (-452 degrees Fahrenheit). - Cryogenics led applications in 2022 with almost one-third of revenue and is expected to remain the largest application segment. - Controlled atmosphere is projected to be the fastest-growing application, with a 5.3% CAGR. - Electricals and electronics accounted for more than two-fifths of global revenue in 2022 and are expected to remain the largest end-use industry. - The broader “others” category, including automotive and metal fabrication, is projected to grow at a 4.9% CAGR. - Asia-Pacific held more than two-fifths of global revenue in 2022 and was the fastest-growing regional market, with a 4.6% CAGR. - The report lists major market players including Air Products and Chemicals, Linde, Praxair, Air Liquide, Gazprom, ExxonMobil, Gulf Cryo, IACX Energy, Matheson Tri-Gas and Taiyo Nippon Sanso. - The report says these companies are using product launches, collaborations, expansion, joint ventures and agreements to defend and grow market share. Between the lines: - Healthcare demand is a major growth driver because helium is used to preserve biological samples and support assisted reproduction. - Liquid helium remains important because of its role in superconductivity, low-temperature physics and materials science. - Asia-Pacific’s lead reflects helium demand in aerospace and defense, plus uses in purging, pressurizing and cooling systems. - The report’s technology section points to improved helium recovery, purification, cryogenic storage and leak detection as key ways to improve supply efficiency. - The sustainability issue is getting more attention after a 2020 assessment concluded helium production, supply and use are unsustainable without more recycling. What’s next: - The report expects gaseous helium to keep the largest share, while liquid helium, controlled atmosphere uses and the broader “others” end-use group grow faster. - Ongoing advances in recovery, purification and leak detection are likely to shape how suppliers manage constrained helium reserves. - Demand tied to MRI systems, particle accelerators, quantum computing and semiconductor manufacturing should continue to support the market outlook. The bottom line: - Helium is headed for moderate but durable growth, with the strongest upside in high-tech and medical applications and the biggest constraint still on the supply side.