Helium Gas Market to reach $34 Billion by 2030; the growing demand for semiconductors, rising applications in healthcare and growing investments in helium exploration drive the market.

Helium Gas market size is expected to reach $34 billion by 2030 after growing at a CAGR of 4.6% during the forecast period 2024-2030, according to the latest market research report published by IndustryARC, titled, “Helium Gas Market - By Form (Liquified and Compressed), By Supply (Cylinders, Bulk & Micro Tanks, Drum and On-site), By Purity (High Purity Helium, Medium-Purity Helium, Industrial-Grade Helium), By Application (MRI Scanning, Welding and Metal Fabrication, Cryogenics, Lifting and Balloons, Leak Detection, Breathing Mixes, Pressurizing and Purging, Controlled Atmosphere Source and Others), By End-Use Industry (Healthcare, Electronics, Aerospace & Defense, Energy, Industrial Manufacturing and Others), By Geography - Opportunity Analysis & Industry Forecast, 2024-2030”.

The major drivers of the helium gas market include its critical applications in semiconductors, where it is essential for cooling during chip production and advanced technology manufacturing. In healthcare, helium plays a vital role in MRI systems, providing the cooling necessary for high-performance imaging. Increasing investments in helium exploration and production are addressing supply challenges ensuring more stable and sustainable access to helium resources

North America dominated the helium gas market in 2023 with a market share of 40% owing to to its vast natural helium reserves and state-of-the-art extraction and distribution infrastructure. The United States, in particular, is rich in helium resources, with key sites like the LaBarge field in Wyoming and the Texas Panhandle serving as critical sources for the global supply. Additionally, North America's robust industrial and healthcare sectors drive strong, consistent demand for helium in fields like cryogenics, healthcare, aerospace and manufacturing. In 2023, U.S. helium sales reached 79 million cubic meters, valued at $1.1 billion, primarily used in sectors like aerospace, MRI, and semiconductors. The U.S. extracted 60 million cubic meters from natural gas and imported 12 million cubic meters. Helium recycling remains limited in the U.S., and the Federal Helium System’s remaining 51.5 million cubic meters is being privatized. Helium prices stayed around $14 per cubic meter, with no full substitutes for cryogenic uses.

Helium is becoming increasingly important in the aviation industry, particularly in aircraft and spacecraft technologies. It is used for applications such as inflating airships, weather balloons, and lighter-than-air aircraft. Helium's unique properties being non-flammable, lighter than air, and chemically inert make it ideal for such uses, providing safer and more efficient alternatives to hydrogen. In the aerospace sector, helium is also used in cooling systems for spacecraft, rocket pressurization and fuel systems due to its ability to manage extreme temperatures and prevent chemical reactions. As both commercial aviation and space exploration expand, the demand for helium in these areas continues to rise. In February 2024, Hybrid Air Vehicles (HAV) began the safety approval process for its helium-filled Airlander 10 aircraft, applying for Type Certification with the Civil Aviation Authority. The Airlander 10, which emits 90% less carbon than conventional aircraft, is set to be slower but more sustainable, with commercial operations planned by 2028. After improvements following a 2016 crash, the aircraft uses helium for buoyancy and features a 100-seat cabin. HAV is progressing through the necessary certification tests.

The demand for semiconductors has been increasing rapidly, driven by the growth of technologies such as artificial intelligence, 5G, the Internet of Things (IoT), and consumer electronics. Semiconductors are crucial components in a wide range of devices, including smartphones, computers, medical equipment, and automotive systems. The production of semiconductors relies heavily on helium for cooling during manufacturing, as it helps maintain the necessary low temperatures for precision equipment and processes. With the global push for advancements in tech and the expansion of industries like AI and 5G, the demand for semiconductors is set to rise. The US CHIPS Act and investments by companies like TSMC and Intel will boost production. 

Key companies profiled in the Helium Gas Market are Air Liquide SA, Air Products and Chemicals, Inc., Linde Plc, QatarEnergy LNG, Iwatani corporation, Messer Group, Nippon Sanso Holdings Corp, Matheson Tri-Gas Inc., North American Helium (NAH), Gazprom and Others.

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