North America Helium-3 Market, By Type (Ultra High Purity Grade Helium, 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)- Market Trends and Forecast to 2029.
North America Helium-3 Market Analysis and Insights
The North America helium-3 market is expected to grow significantly in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 3.2% in the forecast period of 2022 to 2029 and is expected to reach USD 85,113.16 thousand by 2029. The major factor driving the growth of the helium-3 market is the continuous deployment of detecting equipment. Magnetic Resonance Imaging (MRI) and other medical imaging modalities are gaining prominence and wide application scope of helium-3.
Helium-3 is a primordial substance found in Earth's mantle and is a light and stable isotope of helium comprising two protons and one neutron. Helium-3 comprises more protons than neutrons, making it the only stable isotope of any element. Helium-3 is considered to be a naturally nucleogenic and cosmogenic nuclide. Helium-3, an isotope of helium, is a nonradioactive, nontoxic and inert gas. Helium-3 accounts for about 0.0001% of the helium on earth. However, it is present in abundance on the moon. The sun has been emitting helium-3 as a waste product for billions of years. Helium-3 is used in national security, medicine, research and homeland security.
The North America helium-3 market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief. Our team will help you create a revenue impact solution to achieve your desired goal.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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By Type (Ultra High Purity Grade Helium, 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. and Canada
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Market Players Covered
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ISOFLEX, Laurentis Energy Partners Inc., Air Liquide, Savannah River Site, and Space Industries
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Market Definition
The continuous deployment of detecting equipment is an important driver for the North America helium-3 market. Magnetic Resonance Imaging (MRI) and other medical imaging modalities are gaining prominence, and the wide application scope of helium-3 is expected to propel the growth of the North America helium-3 market. The major restraints that may negatively impact the North America helium-3 market are the scarcity of helium-3 on the planet, and the extraction of helium-3 necessitates a large quantity of energy and heavy mining equipment. The extraction of helium-3 from the lunar surface is becoming more important and is expected to provide an opportunity in the North America helium-3 market. However, a rising number of issues regarding the extraction of helium-3 from lunar surfaces is projected to challenge the North America helium-3 market growth.
North America Helium-3 Market Dynamics
Drivers
- The continuous deployment of detecting equipment
Helium-3 is essential in neutron detection apparatus based on the absorption principle. He-3 filled proportional counters are common neutron detectors best suited for detecting thermal neutrons. Helium-3 absorbs neutrons and emits high-energy particles detected as a current and converted to neutron counts. Larger kinds are also employed for pulse height spectroscopy of epithermal and fast neutrons. This detector is extremely sensitive to photon radiation, and the residual quantity may be well differentiated using electrical techniques. He-3 proportional counters have a wide range of applications, including monitoring substrates rich in hydrogen, such as water and oil, where the measured substrate functions as a moderator. TGM's He-3 detectors, for example, are commonly employed in conjunction with a fast neutron source to assess moisture content in soil and concrete. They are also used to determine the amount of oil in the stratum of an oil well while it is being drilled.
- Magnetic Resonance Imaging (MRI) and other medical imaging modalities are gaining prominence
Helium-3 is widely employed in medical imaging methods, including magnetic resonance imaging (MRI), in clinical respiratory implications such as asthma, chronic obstructive pulmonary disease, cystic fibrosis, radiation-induced lung damage, and transplantation. Helium is most often used as a cryogen in MRI equipment. Cryogens are substances that sustain extremely low temperatures, such as ice in a cooler. Helium has a liquid temperature of more than 450 degrees below zero. Because the coils in MRI machines must be kept close to this temperature to generate the intense magnetic field required to take pictures, the coils are surrounded by liquid helium in MRI machines.
- Wide application scope of Helium-3
Helium-3 has a wide range of applications, allowing it to flourish worldwide. Almost all helium-3 is being employed for security purposes across the world. Cryogenics, quantum computers, neutron scattering facilities, oil and gas exploration, and various medical applications are other uses. Helium-3 is used by space organizations as an inert purge gas for hydrogen systems and as a pressurizing agent for ground and flight fluid systems. Helium is also used as a cryogenic agent to cool various materials and in precision welding operations. Helium's usage as a non-toxic, inert gas makes it excellent for use in controlled atmosphere conditions. Helium is a liquid at temperatures below 269 degrees Celsius, making it a suitable coolant for quantum computing research. In modern medicine, MRI technology is indispensable. The superconductive magnets within MRI scanners reach extremely high temperatures and are cooled by helium. Each year, a single MRI scanner consumes 700 liters of helium. Used as a coolant in thermographic quantum detectors, purge gas in missile propulsion systems, and fuel pressurizing agent.
Opportunities
- The extraction of Helium-3 from lunar surfaces is becoming more important
In recent decades, science fiction and fact have been motivated by the concept of collecting a clean and efficient kind of energy from the Moon. The solar wind has assaulted the Moon with massive amounts of Helium-3, unlike Earth, which is shielded by its magnetic field. Because it is not radioactive and does not create hazardous waste, it is anticipated that this isotope might supply safer nuclear energy in a fusion reactor. Helium-3 concentrations on the Moon's surface are on the order of 0.01 ppm. Several people have advocated exploring the moon, mining lunar regolith, and utilizing helium-3 for fusion. Because of the low quantities of helium-3, any mining equipment would have to handle a vast amount of regolith. Some ideas have recommended that helium-3 extraction be tacked onto a bigger mining and development project.
- Increased emphasis on its potential as a nuclear power plant fuel
Helium-3 (He3) is employed as a nuclear fusion fuel in current fusion research. Scientists have been striving to develop nuclear power using nuclear fusion rather than nuclear fission due to radioactivity and nuclear waste. The same energy source that powers the Sun and other stars are used in nuclear fusion. One possible approach is to employ helium-3 and deuterium as fuel in "aneutronic" (no neutron) fusion reactors. When helium-3 and deuterium fuse to form regular helium and a proton, less energy is wasted, and the process is simpler to manage. Nuclear fusion reactors employing helium-3 might thus provide a very efficient kind of nuclear power with almost little waste or radiation, even though the protons produced have a charge. Because the proton can be confined using electric and magnetic fields, direct electric generation is twice as efficient as thermal power generation.
Restraints/Challenges
- The scarcity of Helium-3 on the planet
Helium-3, a helium isotope, is a nonradioactive, harmless, and inert gas. On Earth, there is a limited supply of helium-3. The unexpectedly large amounts of helium-3 observed near volcanic hotspots may indicate the presence of a rare helium-bearing chemical complex deep below the Earth. Helium-3 accounts for around 0.0001% of all helium on Earth. Cryogenics, homeland security, quantum computing, neutron scattering facilities, oil and gas exploration, and various medical uses are among the applications. With the increased use of Helium-3, the world is running out of it.
- A rising number of issues have been raised regarding the extraction of helium-3 from lunar surfaces
The prospect of mining helium-3 on the Moon as a fuel source for future clean, safe nuclear power plants is intriguing and poses several issues. Some of these problems are quite technical, relating to the viability of the nuclear physics involved. Other concerns surround the significant realities of traveling to the Moon, mining and superheating vast quantities of lunar rock, and then returning the valuable cargo to Earth. Three issues of feasibility have been considered. The task is technically demanding and complex. Politically and legally, present international accords do not offer a foundation for lunar mining activity. In terms of finances, the mission only makes a net profit in the best-case scenario and only for medium- to large-scale activities that need significant initial investment.
Further study should focus on the mining operation and prices of fusion reactors to make lunar Helium-3 consumption practical since their influence considerably outweighs all other mission parts. Nonetheless, several modes of transportation may be examined. Many issues, not only technological ones, remain to be resolved in mining helium-3.
Recent Development
- In October 2018, according to VacuTec MeBtechnik GmbH, the neutron detectors 70 060 - 70 065 were proportional counter tubes filled with Helium-3 for optimal thermal neutron sensitivity. Because of its great neutron sensitivity and relatively low Gamma-radiation sensitivity, it is excellent for portable neutron detectors and neutron measurements in tiny cavities or pipelines
- In September 2021, Laurentis Energy Partners began production of a Helium-3 isotope used in medical imaging. He-3 is a non-toxic inhalant used to assess lung function. After inhaling the hyperpolarized He-3 gas, gas mixes may be scanned using a Magnetic Resonance Imaging (MRI) scanner to generate detailed anatomical and functional pictures of lung breathing. This innovative approach enables the identification and treatment of a wide range of chronic respiratory disorders
North America Helium-3 market Scope
North America 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
Based on type, the North America helium-3 market is classified into two segments, namely ultra high purity grade helium and high purity grade helium.
Product Type
- Gas
- Liquid
Based on product type, the North America helium-3 market is classified into gas and liquid.
Application
- Oil and Gas
- Defense
- Power Plant
- Medical
- Others
Based on the application, the North America helium-3 market is classified into oil and gas, defense, power plant, medical, and others.
End-Use
- NMR
- Border Security
- Fusion Research Labs
- Others
Based on end-use, the North America helium-3 market is segmented into NMR, border security, fusion research labs, and others.
North America Helium-3 Market Regional Analysis/Insights
The North America helium-3 market is segmented on the basis of type, product type, application, and end-use.
North America is dominating the helium-3 market comprises of the countries U.S., Canada.
U.S. is dominating the helium-3 market in terms of market share and market revenue because of the wide application scope of helium-3 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 downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Helium-3 Market Share Analysis
North America helium-3 market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points are only related to the companies focus on the North America Helium-3 market.
Some of the prominent participants operating in the North America Helium-3 market are ISOFLEX, Laurentis Energy Partners Inc., Air Liquide, Savannah River Site, and Space Industries
Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Data models include Vendor Positioning grids, Market Time Line Analysis, Market Overview and Guide, Company Positioning grids, Company Market Share Analysis, Standards of Measurement, North America Vs. Regional and Vendor Share Analysis. Please request an analyst call in case of further inquiry.
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