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The global helium-3 market size was USD 378.0 Million in 2022 and is expected to register a rapid revenue CAGR of 9.0% during the forecast period

VANCOUVER, BRITISH COLUMBIA, CANADA, June 6, 2024 /EINPresswire.com/ -- The global helium-3 market, valued at USD 378.0 million in 2022, is set for significant growth, driven by a robust (CAGR) of 9.0% during the forecast period. This surge is largely fueled by the increasing demand for detection equipment and the growing adoption of Magnetic Resonance Imaging (MRI) and other medical imaging technologies.

Helium-3 Overview

Helium-3 is a light, stable isotope of helium, notable for its two protons and one neutron. Its applications are diverse, spanning various high-tech industries and specialized fields such as border security, fusion research, space exploration, and defense. Helium-3 is available in two main purity grades: ultra-high purity and high purity.

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Key Market Drivers

Rising Demand for Detection Equipment: The popularity of fast neutron spectroscopy measurements is boosting demand for helium-3, especially in medical laboratories where it is critical for MRI and nuclear magnetic resonance spectroscopy. The annual demand for helium-3 has reached approximately 65,000 liters.
Strategic Partnerships: Air Liquide's long-term agreement with Laurentis Energy Partners, signed on December 7, 2021, underscores the growing importance of helium-3. This partnership ensures a steady supply of helium-3, extracted as a byproduct of energy production at the Darlington power plant in Canada, for various applications including quantum computing, astrophysics, and medical imaging.
Market Challenges

Despite the promising growth, the market faces challenges such as high production costs and limited availability. Helium-3 extraction is energy-intensive and complex, contributing to higher costs. Moreover, the limited supply, primarily sourced from dismantling nuclear weapons, poses a constraint on market expansion.

Helium-3 Top Companies and Competitive Landscape

The global helium-3 market is consolidated, with large and medium-sized players accounting for most of the market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective helium-3 products in the market.

Some of the major companies included in the global helium-3 market report are:

Helium-3 Ventures
Bruker
Oxford Instruments
Praxair Technology Inc.
Air Liquide
Savannah River Site
Raims Ltd.
LND Inc.
Isoflex
Chemgas
NTI
Merck KGaA
European Space Agency
Laurentis Energy Partners Inc.
Helium-3 Latest Industry News

On February 3, 2023, Bruker installed two new compact 1.0 GHz NMR spectrometers for advanced molecular and structural biology applications, exceeding expectations. initially late 2022. Two new Ascend NMR Evo 1.0 GHz systems operate at 4.2 Kelvin with no sub-liquid temperatures. The helium temperature and thus liquid helium consumption are approximately 65% lower than with the previous 1.0 GHz, 2 Kelvin two-stage magnet. These new 1.0 GHz NMR magnets also significantly reduce area, weight and ceiling height requirements and are suitable for most single-story laboratories.

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Market Segments

Type Insights:

Ultra-High Purity Grade: Dominates the market due to its critical role in MRI machines, semiconductor manufacturing, and optical fiber production. It is characterized by a purity level of 99.9995%.
High Purity Grade: Used where slightly lower purity levels are acceptable, such as in shielding gas and blimps.
Product Insights:

Gas Segment: Expected to grow steadily, driven by its applications in nuclear fusion, welding, and leak detection. Gas helium's precise control over thermal processes makes it essential in producing ultra-high purity gas.
Liquid Segment: Anticipated to hold a significant market share due to its unique properties that support low-temperature applications and its use as a superfluid in advanced technologies.

Application Insights:

Medical Segment: Rapid growth expected due to helium-3's use in MRI, X-rays, and surgical procedures, particularly for its inert properties that aid in neuroprotection and treating abdominal diseases.

Cryogenics Segment: Fastest-growing segment, driven by the demand for superconductors, quantum applications, and x-ray crystallography.
End-Use Insights:

Cryogenics: Expected to dominate, benefiting from helium-3’s low mass and high-temperature properties, which are ideal for superconductors and quantum applications.

Helium-3 Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global helium-3 market on the basis of type, form, application, end-use, and region:

Type Outlook (Revenue, USD Million; 2019-2032)
Ultra-High Purity Grade
High Purity Grade

Product Outlook (Revenue, USD Million; 2019-2032)
Gas
Liquid

Application Outlook (Revenue, USD Million; 2019-2032)
Oil & Gas (O&G)
Defense
Power Plant
Medical
Others

End-use Outlook (Revenue, USD Million; 2019-2032)
Cryogenics
Nuclear Magnetic Resonance (NMR)
Border Security
Fusion Research Labs
Space Exploration
Others

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Regional Outlook (Revenue, USD Million; 2019–2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

The helium-3 market is on a strong growth trajectory, bolstered by rising demand in medical imaging and advanced technology applications. Strategic partnerships and technological advancements will be pivotal in overcoming production challenges and ensuring a steady supply to meet global demand.

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