Helium Demand Set to Grow over 8% CAGR till 2019
Owing to non-existence of helium substitute for various critical applications such as MRI, Optical Fiber, Cryogenics and much more to drive global helium demand
According to a recently published report by TechSci Research, “Global Helium Market Forecast and Opportunities, 2019”, the global helium market revenues are expected to grow at a CAGR of around 8% through 2014-19. With the growing demand for helium from every end user industries the future outlook for helium looks quite attractive. However, the market continuously faces challenges with demand and supply and the increasing prices.
The regionally controlled demand and supply scenario of Helium highlights interesting insights with North America leading both demand and supply. However, with the production instigation of Helium – II plant in Qatar in 2013 the supply scenario is set to witness some changes as Qatar emerges as the 2nd largest producer of Helium with the commencement of this plant.
The report further highlights that the supply of Helium to Asian countries which was currently routed through US is expected to witness a shift to Qatar. It is forecast that the demand for Helium is expected to witness maximum growth from Asia Pacific region as almost all the end user industries are witnessing robust growth in the region such as MRI, Optical Fiber, Cryogenics, Welding, Electronics, Diving, etc.
The emerging economies such as Brazil, India and China are emerging as large customers for the Helium suppliers globally as manufacturing sector in these countries is toughing new heights resulting in growth opportunities.
The unique properties demonstrated by helium leaves no room for a substitute element, which can replace it in critical applications such as low temperature cryogenics. Furthermore, due to its chemical inertness and non-flammability, helium is ideal for use as a purge gas in satellite launch vehicles. Other applications of helium include leak detection, wherein the small atomic size of helium facilitates detection of even miniscule cracks through a mass spectrometer.
“Global Helium Market Forecast and Opportunities, 2019” has evaluated the future growth potential of global helium market and provides statistics and information on market structure and industry behavior trends. The report includes global helium market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in helium market across the globe.
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