Helium-3: Introduction

  • Helium-3, an isotope of helium, is a nonradioactive, nontoxic, and inert gas. A rare quantity of helium-3 is available on the Earth. Helium-3 accounts for about 0.0001% of helium on Earth. However, it is present in abundance on the moon as, sun has been emitting helium-3 as waste product since billions of years. Helium-3 is used in national security, medicine, research, and homeland security.
  • Helium-3 is produced through nuclear decay of tritium, a radioactive isotope of hydrogen. The most common source of production of helium-3 is the nuclear weapons program in the U.S.
  • Helium-3 does not trade in the marketplace. It is produced as a byproduct of maintenance of nuclear weapons and is then accumulated in a stockpile from which supplies are either transferred directly to other agencies or sold publicly at auctions.

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Key Drivers & Restraints of Helium-3 Market

  • Increase in demand for neutron detectors in military to prevent the smuggling of nuclear and radiological materials at borders is expected to augment the global helium-3 market during the forecast period. Helium -3 is non-toxic and has the property to absorb neutron and produce a detection signal. This property makes its adoption viable.
  • Rise in investment in well logging activities to analyze the porosity and permeability of reservoirs is anticipated to propel the global helium-3 market in the near future, as neutron detector is used in well logging activities
  • Helium offers cryogenic properties. Scientists use a mixture of helium-4 & helium-3 to achieve temperatures just a few thousandths of a degree above absolute zero. At temperatures below 2.5 milli-kelvin, helium-3 becomes a superfluid. This property of helium is propelling the demand for helium-3 across the globe.
  • Demand for highly polarized gas has been increasing significantly in magnetic resonance imaging, as highly polarized gas allows MRI to get real-time visualization of a patient’s lung capacity and capability. This property of highly polarized gas is anticipated to stimulate the global helium-3 market during the forecast period.

COVID-19 Impact Analysis

  • Governments of various countries enforced nationwide lockdowns, as a part of precautionary measures to limit the spread of coronavirus.  As a result, export and manufacturing activity declined significantly. Many outbound sailings were cancelled and ports faced bottlenecks due to the shortage of manpower. This made it difficult for helium suppliers to get empty containers out of China and back to sources in Qatar and the U.S. for refilling. In turn, this has hampered the demand for helium-3.
  • Approximately 95% of helium is produced as a byproduct of liquefied natural gas. Decrease in demand for LNG is estimated to lower the production of helium in the near future. 

Oil & Gas End-user Segment to Hold Major Share of Global Market

  • The global helium-3 market can be segmented based on end-user and region
  • In terms of end-user, the global helium-3 market can be divided into medical, oil & gas, defense, power plant, and others. Oil & Gas industry extensively employs helium-3 in well logging activity to analyze the porosity and permeability of reservoirs.

Asia Pacific to Hold Major Share of Global Helium-3 Market

  • In terms of region, the global helium-3 market can be classified into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • The helium-3 market in Asia Pacific is expected to expand at a significant pace during the forecast period. Increase in investments in exploration of helium-3 is anticipated to fuel the helium-3 market in the region during the forecast period. For instance, India has sent two non-manned lunar exploration missions – Chandrayaan-1 and Chandrayaan-2 – into space to explore the possibilities of helium-3.
  • North America is projected to hold vital share of the global helium-3 market during the forecast period. Growth of the market in the region can be ascribed to increase in deployment of helium-3 based neutron detectors at borders in the U.S. to secure the country against smuggled nuclear and radiological materials.

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Key Players Operating in Global Market

Currently, the global helium-3 market is at a niche stage; hence, a few manufacturers operate in the market. Leading companies operating in the global helium-3 market include:

  • ISOFLEX
  • Chemgas
  • PROMETEON S.R.L
  • LND, INC.

Global Helium-3 Market: Research Scope

Global Helium-3 Market, by End-user

  • Oil & Gas
  • Medical
  • Power Plant
  • Defense
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Helium3 Market

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