Albany, NY -- (SBWIRE) -- 07/07/2014 -- Helium is a colorless, non-toxic, inert, mono-atomic gas. It is colorless and odorless in nature. Its melting points and boiling points are the lowest among all other elements. It exists in the gaseous state in extreme conditions. It is one of the lightest elements and most abundant elements found in nature. The use of helium reduces the distorting effects of temperature variations in space. It is commonly used as a carrier gas in gas chromatography. In addition, it is used in cryogenics. Furthermore, it is used in to cool certain metals required for superconductivity. It is also used in applications such as lasers, nuclear reactors, plasma cleaning, magnetic levitating trains among others.
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Increasing demand of helium in cryogenic applications for its utilization in MRI equipment is expected to drive the helium demand over the next few years. In addition, it is used for various other applications such as welding, in-leak detection, heat transfer markets which may boost the demand for helium in near future. However, inhalation of helium is dangerous if done in excess as it displaces oxygen needed for respiration. Thus, stringent regulations on the use of helium coupled with volatility in pricing of helium may hamper the helium market within the forecast period. On-going research and development on the use of helium for other industrial purposes such as aerospace and analytical applications may open new avenues for the helium market over the next few years.
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North America dominated the helium market in 2012. However, Asia Pacific is expected to witness the fastest growth on account of increasing industrialization and urbanization in emerging economies such as China and India. Some of the market players in this industry segment are Air Products, Linde, Praxair, Exxon Mobil, DCP Midstream, Matheson, IACX Energy and ONEOK among others.
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