WiseGuyReports.com adds “Global Helium Market Research Report 2020” reports to its database.
PUNE, MAHARASTRA, INDIA, February 17, 2020 /EINPresswire.com/ — Helium Market:
The helium market consists of sales of helium gas. Helium is a chemical element also known as Nobel gas (inert gas) which is available in natural gas form and can be converted into liquid form by lowering the temperature to below -270 degrees.
The global helium market was worth $ 10.6 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 11% and reach $15.73 billion by 2023.
The helium market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific accounts for around 40% of the market.
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The helium market overed in this report is segmented by type into liquid helium, gaseous helium. It is also segmented by end-user into aerospace and aircraft, electronics and semiconductors, nuclear power, healthcare, welding and metal fabrication, other end-user industries.
The helium market growth is expected to be driven by the growing demand from the healthcare industry. Helium is widely used in various disease diagnosis equipment, as it has unique properties such as inert in nature, non-reactive with other elements, noncorrosive and non-flammable. Helium is used in various applications in the healthcare industry such as adjunct therapy in asthma exacerbation, ARDS, croup, COPD, and bronchiolitis. For instance, Helium is utilized in magnetic resonance imaging (MRI) apparatus to regulate powerful magnet, which is useful for monitoring various conditions within the abdominal, chest and pelvis also useful in pregnancy diagnosis.
Stringent safety regulations associated with the manufacturing and transportation of helium gas was a major restraint on the market. These substances are toxic and hazardous when exposed to exposed extreme temperatures and pressures. Companies in this industry should invest in equipment, technologies and processes to limit the toxic levels and chemical concentrations. These regulations increased the operating costs of companies in this industry, thus limiting the scope for investments relating to the launch of new products and expansion into new markets, thereby affecting the market growth.
Decline of existing helium supply sources, particularly in the US Bureau of Land Management’s (BLM) system, are causing industrial gas companies and distributors to seek new sources of helium supply such as production of helium from non-hydrocarbon sources. Helium production from non-hydrocarbon sources is a production where helium is produced and sold as either the only revenue stream or one of the key revenue streams. For example, in 2018 there were five fields producing lift-grade, gaseous Grade 5.0, or liquid helium from non-hydrocarbon sources in the UK and Canada. Additionally, at Global Helium Summit 2018, Rex Canon, IACX Energy’s CEO, pointed out that “If there were another non-hydrocarbon gas present that could be produced and sold as a commercial product, such as carbon dioxide, gas fields with helium contents lower than 0.6% could have been developed for the production and sale of helium as a secondary product”. He also mentioned that due to decline of the BLM supplies, non-hydrocarbon sources of helium were a good alternative to the traditional sources from LNG flash gas and NRU off-gas
In October 2018, The Linde Group and Praxair, Inc. merged to create a combined entity with a market capitalization of $90 billion. As part of the agreement, Praxair shareholders will receive one share of Linde plc for each Praxair share. Linde AG shareholders will receive 1.54 shares of Linde plc for each Linde AG share tendered. This merger is expected to further consolidate the market by creating a global leader in terms of both sales and geographic footprint. Praxair has a strong presence in Eastern Europe and The Middle East, whereas Linde has a strong presence in Europe and Asia. The merged company is expected to be a leader in each of these four regions, thus leaving only three companies to compete in the industrial gas market on a global basis. Linde AG is a Brazil-based producer and supplier of industrial, process and specialty gases. Paxair is a US-based atmospheric, process, and specialty gases, and surface coatings producer.
Major players in the market are Airgas, Air Liquid, Linde, Messer Group, Air Products, Gazprom, Gulf Cryo, Matheson Tri-Gas, Exxon, PraxairHelium Market Global Report 2020 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global helium market.
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Source: EIN Presswire