The Gaseous and Liquid Helium market is estimated to be valued at US$ 7.05 Bn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Helium gas and liquid helium find wide applications across various industries such as healthcare, aerospace, electronics, welding, leak detection, scientific research and cryogenics among others. In the healthcare industry, helium is used for MRI scans, cryosurgery and lifting gas for balloons. The inert and non-flammable properties of helium make it ideal for filling lifting balloons and airships.

Market Dynamics:
The rising demand from the healthcare industry is expected to be a major growth driver for the gaseous and liquid helium market over the forecast period. According to the US Bureau of Labor Statistics, the healthcare industry is projected to be one of the fastest growing sectors over the next decade. With growing prevalence of chronic diseases such as cancer, demand for healthcare imaging solutions like MRI machines is growing significantly. As helium is vital for cooling the superconducting magnets used in MRI machines, its demand from the healthcare sector is projected to grow substantially over the coming years. Further, with increasing focus on cryosurgery and cryotherapy for treating various medical conditions, consumption of liquid helium is also anticipated to rise at a healthy pace. Another key factor expected to fuel market growth is expansion of aerospace and cryogenics applications of helium. However, limited helium reserves and stringent government regulations surrounding its production and distribution may pose a challenge to the market.

SWOT Analysis

Strength:
- Helium is an essential commodity used in various applications like cryogenics, aerospace, marine etc.
- Demand from healthcare industry has increased for MRI scanning which is a major application area.
- The gaseous and liquid helium market has limited substitutes available.

Weakness:
- Helium reserves are depleting faster than they are being produced. Some major reserves are expected to be depleted in the next few decades.
- Prices of helium gas are highly volatile depending on the supply-demand scenario in the global market.

Opportunity:
- Growing demand from semiconductor and fiber optic industries for manufacturing processes requiring extremely low temperatures.
- Increasing research activities in the field of low-temperature physics, medicine and materials science would boost consumption.

Threats:
- Political issues and nationalism around helium reserves can disrupt supply.
- Technological advancements may reduce helium usage in future or enable recovery/recycling of helium from exhaust streams.

Key Takeaways

The Global Gaseous And Liquid Helium Market Size is expected to witness high growth, exhibiting CAGR of 22% over the forecast period, due to increasing demand from healthcare industry for applications like MRI scanning.

Regional analysis: North America dominates the global market with largest share due to significant helium reserves in the region. Asia Pacific is projected to witness fastest growth owing to rising research expenditure and growing semiconductor industry in China and other Asian countries.

Key players: Key players operating in the gaseous and liquid helium market are Air Products and Chemicals, Inc., Linde plc, Praxair, Inc. (now part of Linde), Air Liquide S.A., Gazprom, RasGas (now part of Qatar Petroleum), ExxonMobil Corporation, Matheson Tri-Gas, Inc., Iwatani Corporation, Messer Group GmbH. The market is consolidated in nature with top players occupying major share.

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