US Helium Demand to Rise on Expanding Supply, Declining Prices

2/26/2021

Cleveland, OH, February 26, 2020 — US demand for helium is forecast to grow 3.2% per year in volume terms through 2024, according to Helium: United States, a report recently released by Freedonia Focus Reports. Advances will reflect anticipated expansion in supply and related decline in prices, as well as rising demand for helium in healthcare and scientific research applications. Structural declines will prevent faster growth, specifically in markets where end users implemented helium recycling equipment or equipment compatible with less expensive and more available gases.

Demand for helium in cryogenics end uses is forecast to remain the largest and fastest growing segment, increasing 5.0% per year through 2024. Demand for replacement magnetic resonance imaging (MRI) units will be supported by a trend toward high-field-strength units, 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.

These and other key insights are featured in Helium: United States. This report forecasts to 2024 US helium demand in cubic meters. Total demand is segmented by end uses 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 and the various segments are provided in annual series from 2009 to 2019.

More information about the report is available at:

https://www.freedoniafocusreports.com/Helium-United-States-FF65037/?progid=91541