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Helium is the universe's second-most plentiful element. It is primarily trapped in subsurface natural gas bunkers and is commercially recovered using a fractional distillation process. In the longer term, rising helium use in the electronics and semiconductor industries, as well as increased use in the healthcare sector, are expected to fuel market demand. On the other hand, the high cost of the extraction procedure and the strict government rules governing the usage of helium are anticipated to stifle the market's expansion. The market was led by gas-phase helium, which is also expected to grow at the fastest rate over the next few years. Over the projected period, it is expected that the development of efficient gas storage and transportation techniques will present several opportunities. However, the aerospace industry suffered a significant setback as a result of the COVID-19 epidemic, which resulted in the industry's shrinkage in recent years, significantly impacting helium's growth prospects in aerospace applications.

Region Analysis:

In terms of region, Helium is used extensively in the healthcare industry in North America. The US spends a significant portion of its GDP on health care. The US also possesses the world's largest aerospace industry. According to the Federal Aviation Administration (FAA), the commercial fleet in the United States is expected to rise by 2% every year to 8,756 in 2041. In addition, the entire general aviation fleet numbered 204,980 aircraft in 2020, with a forecast of 208,790 by 2041. This will almost certainly enhance the country's use of market research.

Key Development:

• In March 2022, Total Helium Ltd. announces the start of its first helium and methane sales and provides further updates on its operations at its project in western Kansas where it aims to extend the Hugoton Gas Field, the largest conventional onshore natural gas and helium field in North America.
• In February 2022, SHI Cryogenic Group has introduced its brand-new F-20L Compressor to its line of Freedom helium compressors. The smallest model in the series, the F-20L Compressor boasts a single-phase electric supply and has a typical power consumption of 2.25-2.4kW at 50Hz and 2.6kW at 60Hz.

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Segmentation:

The global Helium market is accounted for US$ 6218.14 million in 2020 and is estimated to be US$ 9754.86 million by 2030 and is anticipated to register a CAGR of 4.6%. The global Helium market is segmented based on type, application and region.

• Based on Type, the global Helium market is segmented into Industrial Grade, and Non-Industrial Grade.
• Based on the Application, the target market is segmented into Detergent, Bleach, Shampoo, and Amphoteric Surfactant.

Competitive Analysis:

The key players operating the global Helium market involves Kao Chemicals GmbH, Enaspol GmbH, SC Johnson Inc., Stepan Company, Taiwan NJC corporation, Lonza Inc.,Vicchem Pvt. Ltd., Spectrum Chemical Manufacturing Corp. and Bonnyman Son & Company Ltd.