The global helium-3 market is expected to exhibit strong growth, reaching USD 0.3 million by 2030. As per the report titled "Helium-3 Market Size, Share & Recession Impact Analysis, By Type (Ultra-High Purity Grade Helium and High Purity Grade Helium), By Product Type (Gas and Liquid), By Application (Oil and Gas, Defense, Power Plant, Medical and Others), By End-Use (NMR, Border Security, Fusion Research Labs and Others), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 0.2 million and USD 0.3 million in 2030. The market is expected to exhibit a CAGR of 3.10% during the forecast period.
Helium-3 Isotope used in Medical Imaging Production has Developed at Laurentis Energy Partners
In September 2021, an isotope of helium-3 utilised in medical imaging production was developed by Laurentis Energy Partners. An inhalant used to evaluate lung function is called He-3. After inhaling the hyperpolarized He-3 gas, gas mixtures may be studied using a Magnetic Resonance Imaging (MRI) scanner to generate detailed anatomical and functional photographs of lung breathing. A variety of chronic respiratory problems can be identified and treated thanks to this ground-breaking method.
Market Growth Will Be Driven by Growing Use of MRI and Other Medical Imaging Modalities
Helium-3 is frequently used in medical imaging techniques, such as magnetic resonance imaging (MRI), for clinical respiratory applications such asthma, chronic obstructive pulmonary disease, cystic fibrosis, radiation-induced lung damage, and lung transplantation. The most used cryogen for MRI equipment is helium. Cryogens are materials that can withstand very low temperatures, like ice in a cooler. More than 450 degrees below zero is the liquid temperature of helium. The coils in MRI machines are encircled by liquid helium because they need to be kept at or near this temperature to provide the strong magnetic field necessary to acquire photographs.
Limited Availability of Helium-3 Could Impede Growth
An inert gas that is nonradioactive, safe, and composed of the helium isotope helium-3. There is a finite amount of helium-3 on Earth. The unexpectedly high concentrations of helium-3 found close to volcanic hotspots may point to the existence of a unique chemical complex containing helium deep within the Earth. About 0.0001% of the helium on Earth is helium-3. Among the applications include cryogenics, homeland security, quantum computing, neutron scattering equipment, oil and gas exploration, and many medical uses. The world is running out of helium-3 due to its rising use.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the helium-3 market plan acquisitions to improve their brand recognition globally. For instance, in August 2021, the United States Nuclear Corporation and the Polish start-up Solar System Resources Corporation have signed a strategic agreement for the delivery of helium-3 isotope from lunar surface resources. It is the first transatlantic pact ever made and signifies an alliance for an unmanned mining expedition to the moon to recover this isotope.
Recent Development:
Helium-3 Isotope used in Medical Imaging Production has Developed at Laurentis Energy Partners
In September 2021, an isotope of helium-3 utilised in medical imaging production was developed by Laurentis Energy Partners. An inhalant used to evaluate lung function is called He-3. After inhaling the hyperpolarized He-3 gas, gas mixtures may be studied using a Magnetic Resonance Imaging (MRI) scanner to generate detailed anatomical and functional photographs of lung breathing. A variety of chronic respiratory problems can be identified and treated thanks to this ground-breaking method.
Market Growth Will Be Driven by Growing Use of MRI and Other Medical Imaging Modalities
Helium-3 is frequently used in medical imaging techniques, such as magnetic resonance imaging (MRI), for clinical respiratory applications such asthma, chronic obstructive pulmonary disease, cystic fibrosis, radiation-induced lung damage, and lung transplantation. The most used cryogen for MRI equipment is helium. Cryogens are materials that can withstand very low temperatures, like ice in a cooler. More than 450 degrees below zero is the liquid temperature of helium. The coils in MRI machines are encircled by liquid helium because they need to be kept at or near this temperature to provide the strong magnetic field necessary to acquire photographs.
Limited Availability of Helium-3 Could Impede Growth
An inert gas that is nonradioactive, safe, and composed of the helium isotope helium-3. There is a finite amount of helium-3 on Earth. The unexpectedly high concentrations of helium-3 found close to volcanic hotspots may point to the existence of a unique chemical complex containing helium deep within the Earth. About 0.0001% of the helium on Earth is helium-3. Among the applications include cryogenics, homeland security, quantum computing, neutron scattering equipment, oil and gas exploration, and many medical uses. The world is running out of helium-3 due to its rising use.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the helium-3 market plan acquisitions to improve their brand recognition globally. For instance, in August 2021, the United States Nuclear Corporation and the Polish start-up Solar System Resources Corporation have signed a strategic agreement for the delivery of helium-3 isotope from lunar surface resources. It is the first transatlantic pact ever made and signifies an alliance for an unmanned mining expedition to the moon to recover this isotope.
Recent Development:
- In 2019, a number of technologies connected to the Lunar Resource Extraction Vehicle have reached early stage technology readiness level (TRL) thanks to work by Space Industries (LEV). In 2020, the company was involved in the selection and development of several technologies, and is expected to further prototype and showcase these innovations in 2021.
List of Key Players Profiled in the Report
- ISOFLEX
- Raims Ltd
- LND, INC
- Chemgas
- Laurentis Energy Partners Inc.
- Air Liquide
- Savannah River Site
- Space Industries and Federal state unitary enterprise
Further Report Findings
- The market in North America is expected to gain a huge portion of the global Helium-3 market share in the coming years due to an increase in helium-3 production and availability in the United States.
- Additionally, the U.S. Department of Energy's (DOE) Isotope Program is in charge of regulating helium-3 production, sales, and distribution across the nation.
- In the Europe, the growth in this region is primarily driven by an expansion of government programmes and ambitions to collect helium-3 from the moon.
| Attributes | Details |
| Market Size in 2022 | USD 0.2 Billion |
| Market Forecast in 2030 | USD 0.3 Billion |
| Compound Annual Growth Rate | 3.10 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Type, By Product Type, By Application, By End Use and By Geography |
| By Type |
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| By Product Type |
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| By Application |
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| By End Use |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
