Global Helium 3 Market, By Type (Ultra High Purity Grade Helium and High Purity Grade Helium), Product Type (Liquid and Gas), Application (Oil and Gas, Defence, Power Plant, Medical, and Others), End-Use (NMR, Border Security, Fusion Research Labs, and Others) – Industry Trends and Forecast to 2031.
Helium-3 Market Analysis and Size
The helium-3 market is a niche segment, primarily driven by its potential applications in nuclear fusion and cryogenics. Helium-3's unique properties, such as its non-radioactive nature and high energy potential in fusion reactions, have sparked interest in its commercial viability. However, the market for helium-3 is currently limited by its extreme scarcity on Earth, with most existing supplies derived from tritium decay in nuclear weapons stockpiles.
The global helium 3 market size was valued at USD 178.68 million in 2023 and is projected to reach USD 224.59 million by 2031, with a CAGR of 2.9% during the forecast period of 2024 to 2031.In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016 - 2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Ultra High Purity Grade Helium and High Purity Grade Helium), Product Type (Liquid and Gas), Application (Oil and Gas, Defence, Power Plant, Medical, and Others), End-Use (NMR, Border Security, Fusion Research Labs, and Others)
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Countries Covered
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U.S., Canada, China, Brazil, Argentina, Rest of South America, and Middle East and Africa
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Market Players Covered
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Raims, Ltd. (U.K.), Air Products & Chemicals, Inc. (U.S.), Linde Plc (U.K.), Air Liquide (France), Messer Group (Germany), Taiyo Nippon Sanso India (India), MESA Specialty Gases & Equipment (U.A.E.), Matheson Tri (Gas Inc., (U.S.), Iwatani Corp. (Japan), Gazprom PJSC (Russia), Gulf Cryo SAL (Lebanon), IACX Energy (U.S.), ISOFLEX (U.S.), LND, Inc (U.S.), Chemgas (Belgium), Laurentis Energy Partners Inc. (U.S.), Air Liquide (France), Savannah River Site (U.S.), and NIT (Russia)
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Market Opportunities
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Market Definition
Helium-3 (He-3) is a rare isotope of helium with two protons and one neutron, making it lighter than the more common helium-4 isotope. It is present in extremely small quantities in the Earth's atmosphere and produced in small amounts by the radioactive decay of tritium. It is non-radioactive and has a very low boiling point, making it useful in cryogenics. It is also a potential fuel for nuclear fusion reactions, as it can be combined with deuterium to produce a reaction that releases significant energy with minimal radioactive byproducts.
Helium-3 Market Dynamics
Drivers
- Helium-3 Applications in Neutron Detection Technology
Helium-3 plays a crucial role in neutron detection equipment that operates on the absorption principle. Proportional counters filled with He-3 are commonly used as neutron detectors, particularly for detecting thermal neutrons. When He-3 absorbs neutrons, it emits high-energy particles detected as a current, which is then converted into neutron counts. These detectors are also used for pulse height spectroscopy of epithermal and fast neutrons. They exhibit high sensitivity to photon radiation, and the residual quantity can be accurately differentiated using electrical techniques. He-3 proportional counters find diverse applications, such as monitoring hydrogen-rich substrates such as water and oil, where the substrate moderates. For instance, TGM's He-3 detectors are frequently used alongside a fast neutron source to gauge moisture content in soil and concrete. They are also utilized to determine oil quantities in the stratum of an oil well during drilling operations.
- Helium-3 in Medical Imaging
Helium-3 finds extensive application in medical imaging techniques, particularly in magnetic resonance imaging (MRI), for various clinical respiratory conditions suh as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, radiation-induced lung damage, and transplantation. In MRI equipment, helium is primarily used as a cryogen, which is a substance that maintains extremely low temperatures similar to ice in a cooler. Helium has a liquid temperature below -450 degrees Fahrenheit. To produce the intense magnetic field necessary for imaging, the coils in MRI machines must be maintained at this temperature. Hence, liquid helium surrounds the coils in MRI machines.
Opportunities
- Diverse Applications and Global Impact
Helium-3 is utilized across various applications, contributing to its global significance. Predominantly, helium-3 finds extensive use in security-related endeavors worldwide. It is pivotal in cryogenics, quantum computing, neutron scattering facilities, oil and gas exploration, and various medical applications. Space agencies leverage helium-3 as an inert purge gas for hydrogen systems and a pressurizing agent for ground and flight fluid systems. In its liquid state below -269 degrees Celsius, Helium is an effective coolant for quantum computing research. Notably, helium is indispensable in modern medicine for MRI technology, where superconductive magnets require helium cooling.
Furthermore, it is a coolant in thermographic quantum detectors, a purge gas in missile propulsion systems, and a fuel pressurizing agent. Its non-toxic, inert properties make helium ideal for use in controlled atmosphere conditions. All of these are creating opportunities for the market.
- Clean and Efficient Nuclear Fuel
Helium-3 (He3) is used as a nuclear fusion fuel in ongoing research. Scientists aim to harness nuclear fusion, the same energy source that powers the Sun and other stars, as a cleaner alternative to nuclear fission, which produces radioactivity and nuclear waste. One potential approach involves using helium-3 and deuterium as fuel in "aneutronic" (neutron-free) fusion reactors. This fusion reaction produces regular helium and a proton, wasting less energy and simplifying the process. Fusion reactors utilizing helium-3 could offer a highly efficient form of nuclear power with minimal waste or radiation despite the charged protons produced. The proton can be contained using electric and magnetic fields, making direct electric generation twice as efficient as thermal power generation, which presents market opportunities.
Restraints/ Challenges
- Limited Supply of Helium-3
Helium-3 is rare on Earth, but substantial quantities have been found near volcanic hotspots, suggesting the existence of a rare helium-containing chemical compound deep within the Earth.Helium-3 comprises approximately 0.0001% of all helium on Earth. Its applications include cryogenics, homeland security, quantum computing, neutron scattering facilities, oil and gas exploration, and various medical uses. However, due to the increasing demand for helium-3, the global supply is becoming depleted.
- Moon Mining Challenges
Technical obstacles include the intricate nuclear physics and the development of advanced extraction, processing, and transportation technologies. Practical challenges include the complexities of lunar travel, the extraction of large quantities of lunar rock, and the transportation of cargo back to Earth. Feasibility concerns also include the lack of a clear legal framework for lunar mining in current international agreements and uncertain economic viability due to the substantial initial investments required. Mining helium-3 on the Moon for future nuclear power faces complex challenges.
This helium 3 market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Helium 3 market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In October 2023, North America Helium (NAH) revealed the commencement of its seventh production facility. Situated near Ponteix, Saskatchewan, in Cadillac, this upcoming facility will have an initial helium production capacity of 22 million cubic feet per year (MMcf/year). Due to the ongoing success of drilling operations in the area, NAH is already planning expansion for this facility in 2024
- In September 2021, Laurentis Energy Partners initiated the production of a helium-3 isotope utilized in medical imaging. Helium-3 (He-3) is a non-toxic inhalant crucial for evaluating lung function. Following the inhalation of hyperpolarized He-3 gas, gas mixtures can be scanned using a Magnetic Resonance Imaging (MRI) scanner to produce detailed anatomical and functional images of lung breathing. This innovative method allows for the detection and management of various chronic respiratory disorders
Helium 3 Market Scope
The helium-3 market is categorized based on type, product type, application, and end-use. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Type
- Ultra-High Purity Grade Helium
- High Purity Grade Helium
Product Type
- Gas
- Liquid
Application
- Oil and Gas
- Defense
- Power Plant
- Medical
- Others
End-Use
- NMR
- Border Security
- Fusion Research Labs
- Others
Helium-3 Market Regional Analysis/Insights
The helium 3 market is analyzed and market size insights and trends are provided by country, type, product type, application, and end-use as referenced above.
The countries covered in the market report are U.S., Canada, China, Brazil, Argentina, the rest of South America, and Middle East and Africa.
North America is expected to dominate the market due to advancements in technology and growth in the number of research and development centers.
Europe is expected to be the fastest growing during the forecast period due to the increasing prominence of magnetic resonance imaging (MRI) and other medical imaging modalities in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Helium-3 Market Share Analysis
The helium 3 market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to helium 3 market.
Some of the major players operating in the helium 3 market are:
- Raims, Ltd. (U.K.)
- Air Products & Chemicals, Inc. (U.S.)
- Linde Plc (U.K.)
- Air Liquide (France)
- Messer Group (Germany)
- Taiyo Nippon Sanso India (India)
- MESA Specialty Gases & Equipment (U.A.E.)
- Matheson Tri, (Gas Inc. (U.S.)
- Iwatani Corp. (Japan)
- Gazprom PJSC (Russia)
- Gulf Cryo SAL (Lebanon)
- IACX Energy (U.S.)
- ISOFLEX (U.S.)
- LND, INC. (U.S.)
- Chemgas (Belgium)
- Laurentis Energy Partners Inc. (U.S.)
- Air Liquide (France)
- Savannah River Site (U.S.)
- NIT (Russia)
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