Pune, Maharastra -- (SBWIRE) -- 02/19/2016 -- RnRMarketResearch.com adds "Global Helium Market 2016-2020" to its research database. The analysts forecast global market for helium to grow at a CAGR of 8.52% during the period 2016-2020. Helium is the second most abundant element in the universe after hydrogen, but is still relatively sparse on earth. Helium is usually extracted along with natural gas, wherein the concentration of the former varies between .03%-0.80%. Gas fields with less than 0.1% concentration are often termed as poor reserves. Some fields in Russia and Siberia are said to have helium reserves in concentrations up to 0.8%.
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Global industrial growth is one of the major drives in the market. There has been continuous expansion in global manufacturing output over the past five years. The industrial growth is driven by rising demand for investment goods, intermediate goods, and consumer goods, particularly, driven in the high-growth economies of China, India, Brazil, South Africa, and Indonesia.
Healthcare accounted for 28% of the consumption share during 2014. Helium is used in MRI, NMR machines and nuclear reactors as a coolant due to its chemical inertness and high specific heat. Helium is used in these machines to cool the low-temperature superconducting materials and magnets to temperatures close to absolute zero, which in turn enables the creation of powerful magnetic fields. They are also used for fixed and floating offshore oil rigs. The report predicts this segment to grow at a rate of 7% during the forecast period.
The market is divided into the following segments based on application: Aerospace and Aircraft, Aerostatics, Electronics and Semiconductors, General Industries, Healthcare, Transportation
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Helium market analyst have estimate there has been a series of innovations on the front of packaging, wherein metal packaging is being replaced by composite materials made of plastic or aluminum. These cylinders offer immense benefits in terms of energy savings on account of their lightweight nature without any compromise on safety.
The key leading vendors analyzed in voice controlled devices market are Airgas, Air Liquide, Linde, Messer Group, Praxair. Other prominent vendors are Air Products, Buzwair, Gazprom, Gulf Cryo , Iceblick, Iwatani, Ras Gas, Taiyo Nippon, Sanso.
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The global helium market is dominated by chemical vendors from Europe and US who have an integrated distribution network and rely on their proprietary manufacturing technologies. These providers have manufacturing facilities located across the world and operate through strategic partnerships and joint ventures.
Further, the report states that the primary challenge to the vendors in the noble gas market is handling the profit margins in view of volatile price fluctuations and the rising cost of production.
Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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