The global 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 finds applications in various end-use industries such as healthcare, aerospace, manufacturing, electronics and others due to its unique properties such as inertness, low boiling point and low density. It is used as as a pressurizing and lifting gas in balloons, airships and various lightweight applications.
Market key trends:
One of the major trends gaining momentum in the Global Gaseous And Liquid Helium Market Size is its increasing demand from the healthcare sector. Helium gas finds major usage in MRI scanners and cryosurgery. It assists in achieving very low temperatures necessary for superconductivity of electromagnets within MRI machines. Around 25% of the total helium production is consumed by the healthcare industry. Moreover, the growing geriatric population prone to chronic diseases is expected to propel the demand for medical imaging procedures like MRI scans globally, thus driving the need for helium over the forecast period.
Segment Analysis
Gaseous and Liquid Helium Market is primarily segmented into two types- gaseous helium and liquid helium. Among these, liquid helium emerged as the largest segment in 2022, accounting for nearly 50% share of the overall market. Liquid helium finds wide applications in fields requiring extremely low temperatures such as magnetic resonance imaging, superconducting magnets, and semiconductor manufacturing. Its demand is expected to rise further owing to increasing investments in space research programs utilizing liquid helium cooled rockets.
Key Takeaways
The global Gaseous and Liquid Helium Market is expected to witness high growth, exhibiting CAGR of 22.% over the forecast period, due to increasing investments in healthcare sector. The market size for 2023 is estimated to be US$ 7.05 Bn.
Regional analysis - North America dominated the global market in 2022 and is estimated to maintain its dominance over the forecast period. This is attributed to the presence of major helium producers and consumers in the region, especially the U.S. Asia Pacific is anticipated to witness fastest growth backed by rising healthcare spending and advancements in space research projects in countries such as China and India.
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. Key players are engaged in strengthening their production and supply capabilities to leverage growth opportunities in developing markets.
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The hazardous nature of traditional plastics is pushing governments all over the world to introduce stringent regulations to curb carbon emissions and the usage of harmful plastic products.
This is also estimated to provide momentum to the upscaling of the Global Bio-Based PET Market.Bio-Based Polyethylene Terephthalate (PET) is produced from ethylene glycol that is obtained from plants.
These plant sources include non-toxicity, recyclability, reduced carbon footprint, and a high resistance to shattering.
For instance, the Plant PET Technology Collaborative (PTC) by Virent, Inc uses paraxylene using beet sugar instead of fossil fuels.
These technological developments are anticipated to promote higher adoption of Bio-Based PET products, fueling growth in the market.Get Free Sample @ https://www.marketresearchfuture.com/sample_request/5823Industry Update:September 2018: PepsiCo formed a partnership with NaturALL Bottle Alliance to develop packaging made from 100% sustainable and renewable sources.
Following this, the Alliance aims to make 95% Bio-Based PET bottles.Key Players:Some of the prominent market vendors present in the Global Bio-Based PET Market include Braskem (Brazil), Gevo, Inc. (U.S.), TEIJIN LIMITED (Japan), Anellotech, Inc. (U.S.), TORAY INDUSTRIES, INC. (Japan), Indorama Ventures Public Company Limited (Thailand), M Chemicals (Italy), NatureWorks LLC (U.S.), Novamont S.p.A (Italy), Plastipak Holdings, Inc. (U.S.), Amyris (U.S.), and Toyota Tsusho Corporation (Japan).Market Segmentation:The report on Bio-Based Pet Market by Market Research Future (MRFR) includes a detailed analysis of various types of Raw Materials Used, Applications of Bio-Based PET, as well as specific regional analysis.
After losing all the impression of their achievements, great companies often fade away.
When the whole world was shifting towardsdigital photography in late 80s, Kodak refused to join the bandwagon, and continued with their existing products even after inventing the digital camera technology.
However, after 2010, Nokia's market value declined by about 90 percent and in 2011 Nokia was acquired by Microsoft.
why Nokia, which was considered as the undisputed king of mobile devices was thrown out of the market?The main reason is the introduction of iPhone in 2007.
At the time of iPhone's launch, half of all the devices sold in the planet were Nokia's.
Nokia's management thought they will continue to rule the market with dated Symbian OS and average phones.They never thought Apple would come-up with a superior hardware and software and the executives were afraid to acknowledge the fact even after knowing that it would take several years to develop a better OS that could compete with iOS.
