Global Helium Market: Snapshot
Helium is the second component on the periodic table. It is a dreary an unscented gas yet it has various utilizations, some of which may shock you! Helium gas is actually ‘lighter-than-air’ because of its amazingly low thickness, which clarifies its most notable use; enhancing inflatables. Helium’s quality on earth was affirmed in 1895, anyway it was first found in 1868 when French space expert, Pierre Janssen, saw an obscure gas during a sun based overshadowing. This is the place the name ‘Helium’ began, as it was named after the Greek God of the sun, Helios. Since the gas is used in variety of applications, its demand has skyrocketed in recent years. Owing to this growing demand, the global helium market is expected to grow exponentially in coming years.
- Helium is industrially recouped from flammable gas stores, for the most part from Texas, Oklahoma and Kansas. This allows, North America to dominate the regional front of global helium market. It is utilized as an idle shield for curve welding, to pressurize the fuel tanks of fluid energized rockets and in supersonic windtunnels. Helium is joined with oxygen to make a nitrogen free air for remote ocean jumpers so they won’t experience the ill effects of a condition known as nitrogen narcosis. Fluid helium is a significant cryogenic material and is utilized to examine superconductivity and to make superconductive magnets. This helps the global helium market to grow exponentially in coming years.
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- The developing trend of helium application in areas such as nuclear power plants, metal works, and semiconductor production is turning into a top need for makers in the helium market. Although, fluid and oleous coolants fill in as an option in contrast to helium, because of the beginning of helium deficiency in the market. In that capacity, makers should concentrate on expanding helium holds with the assistance of extraction from petroleum gas and oil mining. This also helps the global helium market to grow substantially in coming years.
Sales of Cryogenic Devices Surge with Improvements in Manufacturing Processes
Helium is a synonymous term with most cryogenic applications. Its exceptional cooling abilities are proving to be useful for the development of various cryogenic devices. Cryogenics currently accounts for the second-highest production amongst all applications in the helium market, with a ballpark output of ~38 million cubic meters in the year 2018. Hence, companies in the helium market are innovating cryogenic turbines that provide the liquefaction of helium. As such, companies in the helium ecosystem are increasing their capabilities to enhance the quality of cryogenic devices to cater to the needs of stakeholders in the aerospace industry. This trend is also helping in magnetic resonance imaging for the purpose of scientific research.
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Companies in the helium landscape are expanding their scope of application in tissue and organ preservation, superconductivity, and mechanical engineering. The sales of cryogenic turbines are estimated to surge during the forecast period. As such, companies in the helium market are simplifying complex manufacturing processes with improved and optimized titanium and stainless steel parts. These parts are processed with the help of vacuum brazing and chemical nickel coating. They are also expanding the use of electron beam welding in manufacturing processes that are validated through several samples. On the other hand, companies are developing cryogenic compressors and pumps. They are also increasing their focus on aerodynamic gas bearings.
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