Cryogenics Expected to Carry Gains in Helium Demand

Cleveland, OH, March 29, 2024 — US demand for helium is forecast to increase 2.2% yearly in volume terms through 2027, according to Helium: United States, a report recently released by Freedonia Focus Reports. Gains will stem exclusively from the cryogenics segment, which is forecast to remain the largest and fastest growing, increasing 7.7% per year through 2027. Increasing investment in electro-medical equipment will lead to growing demand for helium for use in magnetic resonance imaging (MRI) machines. Demand for replacement MRI units will be supported by a trend toward high-field-strength units that facilitate higher resolution medical imaging, which will bolster demand for helium, as such units often require more coolant. In addition, an aging domestic population and expanding uses for MRI in medical diagnosis will continue to boost machine demand and utilization, supporting consumption during production and maintenance. Further gains will be limited by losses in all other segments, stemming from competition from alternative gases and the implementation of recycling and recovery technology. However, the dominance and strength of growth in the cryogenics segment will lead to overall advances − the segment accounted for 39% of demand in 2022 and is expected to account for 51% of demand by 2027.

These and other key insights are featured in Helium: United States. This report forecasts annually to 2027 US helium demand in cubic meters. Total demand is segmented by end use in terms of:

• cryogenics

• controlled atmospheres

• pressuring and purging

• welding

• leak detection

• breathing mixtures

• other end uses such as chromatography and lifting gas

To illustrate historical trends, total demand, trade, and the various segments are provided in annual series from 2012 to 2022.

More information about the report is available at:

https://www.freedoniagroup.com/freedonia-focus/helium-united-states-ff65037.htm

About Freedonia Focus Reports

Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Metals, Minerals, & Glass reports can be purchased at Freedonia Focus Reports or MarketResearch.com.

Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:

• total historical market size and industry output

• segmentation by products and markets

• identification of market drivers, constraints, and key indicators

• segment-by-segment outlook in five-year forecasts

• a survey of the supply base

• suggested resources for further study