helium Helium is a vital resource, essential in modern technologies with major critical and irreplaceable use throughout the science, medicine and manufacturing industries. There is growing demand for helium in various high-tech applications such as cryogenics, welding and pressure & purging, in addition to more recent developments which include hybrid air vehicles, helium-filled hard drives, and Space Exploration.
Its unique properties make it an essential component in cryogenic, heat transfer, shielding, leak detection, analytical and lifting applications. There is no substitute for helium in applications where temperatures below -261.1°C (-429°F) are required. It is therefore the most important element in studying super-cold conditions in low-temperature physics studies. Helium is a critical component in the manufacturing process, specifically ones which serve unique high-tech applications in MRIs and semiconductor chip manufacturing.
Major factors driving the market are the increasing consumption of helium in the electronics and semiconductor industry as well as the growing usage in the healthcare industry. Space is another key growth area, as well as quantum computing.
The main global industrial consumers of liquid helium are the medical, aerospace, and electronics industries. The medical industry is the largest consumer and mainly uses helium to maintain the superconducting properties of magnets in applications such as magnetic resonance imagery (MRI) and nuclear magnetic resonance spectrometry (NMR) equipment. The demand for MRI scanners is increasing, especially in the developing world.
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