Summary

Helium-3 Market Research Report by Form (Liquid and Gas) By Application (Oil & Gas, Defense, Power Plant, Medical and Others), by Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) Forecast to 2035
Market Overview
The global Helium-3 (³He) market has been experiencing significant growth, with a market size of approximately USD 672.62 million in 2024. Projections of a compound annual growth rate (CAGR) of 9.03% from 2025 to 2035 emphasize the growing demand and diverse applications of this rare isotope. The unique properties of helium-3 render it a valuable resource in a variety of high-tech industries, including medical imaging, cryogenics, nuclear fusion research, and neutron detection. This isotope of helium is non-radioactive.
In the helium-3 market, businesses face unique opportunities and challenges. One of the primary market drivers is the growing demand for helium-3 in scientific research, medical applications, and other industries. The continuous advancements in technology, as well as the increasing utilization of apparatus that rely on helium-3 for refrigeration and detection purposes, are the driving forces behind this demand.
Recent market trends suggest a significant rise in research and development initiatives that focus on the extraction of helium-3 from a variety of sources, including lunar regolith and nuclear fusion reactions. Significant interest has been generated, and opportunities have been presented for space exploration companies and research institutions to investigate and exploit the potential availability of helium-3 from lunar sources.
Key players in the helium-3 market are actively developing innovative extraction and production methods to meet the growing demand. Additionally, they are interested in securing access to helium-3 reserves and establishing a sustainable supply chain through partnerships and collaborations.

Market segment insights
The global Helium 3 market has been divided into the following application categories: Oil and gas, defense, power plants, medical, and other industries.
The Global Helium 3 market has been divided into liquid and gas segments according to its physical state.

Regional Perspectives
The Helium-3 regional market is segmented into the following geographic regions: North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. North America is the largest regional market for Helium3, comprising the majority of the market share. Europe is the second-largest regional market, with Asia-Pacific following in that order. The increasing demand for Helium3 in a variety of applications, including aerospace, medical imaging, and scientific research, is the primary factor contributing to the market growth. The Helium-3 Market is highly fragmented, with a substantial number of minor and medium-sized companies operating within it. The primary participants in the market are Messer Group, Praxair Technology, Inc., Iwatani Corporation, and Air Liquide.

Major Players
The Helium-3 Market is dominated by a number of prominent companies, including SHI Planet Energy, NuScale Power, Terrestrial Energy, First Helium, Alteria Energy, Helium3, General Atomics, TAE Technologies, Magma Energy, Hokkaido Electric Power, Luna Innovations, Energy Fuels, Helium One, Helion Energy, and Deep Isolation.

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Table of Contents

TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ............................................................................................................... 30
1.1 MARKET ATTRACTIVENESS ANALYSIS ........................................................................................................... 31
1.1.1 GLOBAL HELIUM 3 MARKET, BY FORM ............................................................................................................... 32
1.1.2 GLOBAL HELIUM 3 MARKET, BY APPLICATION ..................................................................................................... 33
1.1.3 GLOBAL HELIUM 3 MARKET, BY REGION ............................................................................................................ 34
2 MARKET INTRODUCTION ............................................................................................................ 36
2.1 DEFINITION .................................................................................................................................................................. 36
2.2 SCOPE OF THE STUDY .............................................................................................................................................. 36
2.3 RESEARCH OBJECTIVE ............................................................................................................................................ 36
2.4 MARKET STRUCTURE .............................................................................................................................................. 38
2.5 KEY BUYING CRITERIA ............................................................................................................................................ 39
3 RESEARCH METHODOLOGY ...................................................................................................... 40
3.1 OVERVIEW .................................................................................................................................................................... 40
3.2 DATA FLOW .................................................................................................................................................................. 42
3.2.1 DATA MINING PROCESS ....................................................................................................................................... 43
3.3 PURCHASED DATABASE: ......................................................................................................................................... 44
3.4 SECONDARY SOURCES: ............................................................................................................................................ 45
3.4.1 SECONDARY RESEARCH DATA FLOW: ........................................................................................................................ 46
3.5 PRIMARY RESEARCH: ............................................................................................................................................... 47
3.5.1 PRIMARY RESEARCH DATA FLOW: ....................................................................................................................... 48
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ........................................................................................ 49
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE ............................................................................................................. 49
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: ........................................................................................... 50
3.6.1 CONSUMPTION & NET TRADE APPROACH ................................................................................................................ 50
3.6.2 REVENUE ANALYSIS APPROACH ............................................................................................................................ 50
3.7 DATA FORECASTING................................................................................................................................................. 51
3.7.1 DATA FORECASTING TECHNIQUE ............................................................................................................................ 51
3.8 DATA MODELING ........................................................................................................................................................ 52
3.8.1 MICROECONOMIC FACTOR ANALYSIS: ....................................................................................................................... 52
3.8.2 DATA MODELING: ............................................................................................................................................... 53
3.9 TEAMS AND ANALYST CONTRIBUTION ........................................................................................................... 55
4 MARKET DYNAMICS .................................................................................................................... 58
4.1 INTRODUCTION ........................................................................................................................................................... 58
4.2 DRIVERS ......................................................................................................................................................................... 59
4.2.1 GROWING DEMAND FOR HELIUM-3 IN NUCLEAR FUSION RESEARCH PROJECTS .................................................................... 59
4.2.2 INCREASING USE OF HELIUM-3 IN NEUTRON DETECTION FOR SECURITY APPLICATIONS ........................................................ 60
4.3 RESTRAINTS ................................................................................................................................................................ 61
4.3.1 LIMITED NATURAL AVAILABILITY INCREASES EXTRACTION AND PRODUCTION COSTS ............................................................... 61
4.3.2 LACK OF LARGE-SCALE COMMERCIAL MINING INFRASTRUCTURE DELAYS MARKET GROWTH .................................................... 62
4.4 OPPORTUNITY ............................................................................................................................................................. 63
4.4.1 ADVANCEMENTS IN SPACE EXPLORATION FOR FUEL IN NUCLEAR REACTORS ...................................................................... 63
4.4.2 EXPANDING APPLICATIONS IN CRYOGENICS FOR SUPERCONDUCTING MAGNET COOLING ....................................................... 64
4.5 IMPACT ANALYSIS OF COVID - 19 ........................................................................................................................ 65
4.6 IMPACT ANALYSIS OF RUSSIA-UKRAINE WAR ............................................................................................. 65
5 MARKET FACTOR ANALYSIS ...................................................................................................... 67
5.1 SUPPLY CHAIN ANALYSIS ..................................................................................................................................... 67
5.1.1 PARTICIPANTS .................................................................................................................................................... 67
5.1.1.1 RAW MATERIALS SUPPLIERS ......................................................................................................................... 67
5.1.1.2 MANUFACTURERS ........................................................................................................................................ 68
5.1.1.3 DISTRIBUTORS ............................................................................................................................................ 68
5.1.1.4 END-USERS .............................................................................................................................................. 69
5.1.2 VALUE PERCOLATION ACROSS THE CHAIN ................................................................................................................. 69
5.1.3 INTEGRATION LEVELS ........................................................................................................................................... 70
5.1.4 KEY ISSUES ADDRESSED ..................................................................................................................................... 70
5.2 PORTER’S FIVE FORCES MODEL ........................................................................................................................... 72
5.2.1 THREAT OF NEW ENTRANTS ................................................................................................................................... 72
5.2.2 BARGAINING POWER OF SUPPLIERS ......................................................................................................................... 73
5.2.3 THREAT OF SUBSTITUTES ...................................................................................................................................... 73
5.2.4 BARGAINING POWER OF BUYERS ............................................................................................................................ 73
5.2.5 INTENSITY OF RIVALRY .......................................................................................................................................... 74
5.3 REGULATORY FRAMEWORK ................................................................................................................................. 74
5.3.1 GOVERNMENT POLICIES ....................................................................................................................................... 74
5.3.2 CERTIFICATIONS & STANDARDS .............................................................................................................................. 75
5.4 TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS .......................................................................... 76
5.4.1 TECHNOLOGY ROADMAP ..................................................................................................................................... 76
5.4.2 COMPATIBILITY WITH APPLICATIONS ....................................................................................................................... 76
5.4.3 ADVANCED TESTING AND ANALYSIS ....................................................................................................................... 77
5.5 CASE STUDY ANALYSIS .......................................................................................................................................... 78
5.5.1 CASE STUDY 1 : HELIUM-3 IN NUCLEAR FUSION RESEARCH – ITER’S ROLE AND FUTURE IMPLICATIONS ................................ 78
5.5.2 CASE STUDY 2 : HELIUM-3 IN NATIONAL SECURITY – U.S. AND CHINA’S STRATEGIC INTEREST IN HELIUM-3 FOR ADVANCED NEUTRON DETECTION .................................................................................................................................................................... 78
5.6 BROAD LEVEL GAP ANALYSIS TO UNDERSTAND UNTAPPED AREAS .................................................. 79
5.6.1 BASED ON FORM ............................................................................................................................................... 79
5.6.2 BASED ON APPLICATION ...................................................................................................................................... 80
5.7 R&D UPDATE ................................................................................................................................................................ 81
5.7.1 CURRENT SCENARIO ............................................................................................................................................. 81
5.7.2 FUTURE ROADMAP ............................................................................................................................................. 81
5.7.3 CHALLENGES ..................................................................................................................................................... 82
5.7.4 NOVEL APPLICATIONS .......................................................................................................................................... 82
5.7.5 KEY DEVELOPMENTS .......................................................................................................................................... 83
5.8 PESTEL ANALYSIS ..................................................................................................................................................... 83
5.8.1 POLITICAL FACTORS ............................................................................................................................................. 83
5.8.2 ECONOMIC FACTORS ........................................................................................................................................... 83
5.8.3 SOCIAL FACTORS ................................................................................................................................................ 84
5.8.4 TECHNOLOGICAL FACTORS .................................................................................................................................... 84
5.8.5 ENVIRONMENTAL FACTORS .................................................................................................................................... 84
5.8.6 LEGAL FACTORS ................................................................................................................................................. 85
6 GLOBAL HELIUM 3 MARKET, BY FORM ..................................................................................... 87
6.1 INTRODUCTION ........................................................................................................................................................... 87
6.2 LIQUID ............................................................................................................................................................................. 88
6.3 GAS .................................................................................................................................................................................. 88
7 GLOBAL HELIUM 3 MARKET, BY APPLICATION ........................................................................ 89
7.1 INTRODUCTION ........................................................................................................................................................... 89
7.2 OIL & GAS ....................................................................................................................................................................... 90
7.3 DEFENSE ........................................................................................................................................................................ 90
7.4 POWER PLANT ............................................................................................................................................................ 91
7.5 MEDICAL ........................................................................................................................................................................ 91
7.6 OTHERS .......................................................................................................................................................................... 91
8 GLOBAL HELIUM 3 MARKET, BY REGION .................................................................................. 93
8.1 OVERVIEW .................................................................................................................................................................... 93
8.2 NORTH AMERICA ....................................................................................................................................................... 95
8.2.1 US.................................................................................................................................................................. 100
8.2.2 CANADA ........................................................................................................................................................... 101
8.2.3 MEXICO ........................................................................................................................................................... 102
8.3 EUROPE .......................................................................................................................................................................... 104
8.3.1 GERMANY ......................................................................................................................................................... 109
8.3.2 UK .................................................................................................................................................................. 110
8.3.3 FRANCE ............................................................................................................................................................ 111
8.3.4 RUSSIA ............................................................................................................................................................ 112
8.3.5 ITALY ............................................................................................................................................................... 113
8.3.6 SPAIN ............................................................................................................................................................. 114
8.3.7 REST OF EUROPE ................................................................................................................................................. 115
8.4 ASIA PACIFIC ............................................................................................................................................................... 117
8.4.1 CHINA.............................................................................................................................................................. 122
8.4.2 INDIA .............................................................................................................................................................. 123
8.4.3 JAPAN ............................................................................................................................................................ 124
8.4.4 SOUTH KOREA ................................................................................................................................................... 125
8.4.5 MALAYSIA ........................................................................................................................................................ 126
8.4.6 THAILAND ......................................................................................................................................................... 127
8.4.7 INDONESIA ....................................................................................................................................................... 128
8.4.8 REST OF ASIA PACIFIC .......................................................................................................................................... 129
8.5 SOUTH AMERICA ....................................................................................................................................................... 131
8.5.1 BRAZIL ............................................................................................................................................................. 135
8.5.2 ARGENTINA........................................................................................................................................................ 136
8.5.3 REST OF SOUTH AMERICA .................................................................................................................................... 137
8.6 MIDDLE EAST & AFRICA .......................................................................................................................................... 139
8.6.1 GCC COUNTRIES ................................................................................................................................................ 143
8.6.2 SOUTH AFRICA ................................................................................................................................................... 144
8.6.3 REST OF MIDDLE EAST & AFRICA ............................................................................................................................ 145
9 COMPETITIVE LANDSCAPE ........................................................................................................ 147
9.1 COMPETITIVE OVERVIEW............................................................. 147
9.2 MAJOR PLAYERS IN THE GLOBAL HELIUM 3 MARKET .............................................................................. 147
9.3 MAJOR PLAYERS IN TERMS OF MARKET DISRUPTORS & INNOVATORS ............................................ 148
9.4 COMPETITIVE BENCHMARKING .......................................................................................................................... 148
9.5 STRATEGIES OF MARKET LEADERS IN THE GLOBAL HELIUM 3 MARKET ......................................... 149
9.5.1 AIR LIQUIDE S.A. .......... 149
9.5.2 LINDE PLC ................... 149
9.5.3 AIR PRODUCTS & CHEMICALS, INC.................................... 149
9.5.4 IWATANI CORPORATION............................................................. 149
9.5.5 PJSC GAZPROM ............. 149
9.6 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN GLOBAL HELIUM 3 MARKET ................................................ 150
9.7 KEY DEVELOPMENTS & GROWTH STRATEGIES ............................................................................................ 150
9.7.1 CONTRACTS AND AGREEMENT ............................................................................................................................... 150
9.7.2 EXPANSION/ACQUISITION/PARTNERSHIP .............................................................................................................. 151
10 COMPANY PROFILES .................................................................................................................. 152
10.1 AIR LIQUIDE S.A. ......................................................................................................................................................... 152
10.1.1 COMPANY OVERVIEW ......................................................................................................................................... 152
10.1.2 FINANCIAL OVERVIEW...................................................................... 153
10.1.3 PRODUCTS/SERVICES OFFERED.......................................... 154
10.1.4 KEY DEVELOPMENTS.................................................................... 154
10.1.5 SWOT ANALYSIS .............. 155
10.1.6 KEY STRATEGIES ............. 155
10.2 AIR PRODUCTS & CHEMICALS, INC................................ 156
10.2.1 COMPANY OVERVIEW ..................................................................... 156
10.2.2 FINANCIAL OVERVIEW.............................................................. 156
10.2.3 PRODUCTS OFFERED..................................................... 157
10.2.4 KEY DEVELOPMENTS................................................ 157
10.2.5 SWOT ANALYSIS............................................................... 158
10.2.6 KEY STRATEGIES..................................................... 158
10.3 IWATANI CORP. ....................... 159
10.3.1 COMPANY OVERVIEW............................................................. 159
10.3.2 FINANCIAL OVERVIEW ....... 159
10.3.3 PRODUCTS OFFERED .... 160
10.3.4 KEY DEVELOPMENTS.. 160
10.3.5 SWOT ANALYSIS ............................................................................................................................................ 161
10.3.6 KEY STRATEGIES ............................................................................................................................................ 161
10.4 LINDE PLC ..................................................................................................................................................................... 162
10.4.1 COMPANY OVERVIEW ..................................................................................................................................... 162
10.4.2 FINANCIAL OVERVIEW .......................................................................................................................................... 162
10.4.3 PRODUCTS OFFERED ...................................................................................................................................... 163
10.4.4 KEY DEVELOPMENTS ...................................................................................................................................... 163
10.4.5 SWOT ANALYSIS ............................................................................................................................................ 164
10.4.6 KEY STRATEGIES ......... 164
10.5 PJSC GAZPROM ........................ 165
10.5.1 COMPANY OVERVIEW......................................................... 165
10.5.2 FINANCIAL OVERVIEW...................................................... 165
10.5.3 PRODUCTS/SERVICES OFFERED........................................... 165
10.5.4 KEY DEVELOPMENTS...................................................... 165
10.5.5 SWOT ANALYSIS.......................................................................... 166
10.5.6 KEY STRATEGIES .................. 166
10.6 GULF CRYO ................................ 167
10.6.1 COMPANY OVERVIEW........................................................ 167
10.6.2 FINANCIAL OVERVIEW ....... 167
10.6.3 PRODUCTS OFFERED ... 167
10.6.4 KEY DEVELOPMENTS ..... 167
10.6.5 SWOT ANALYSIS ......... 168
10.6.6 KEY STRATEGIES ......... 168
10.7 IACX ENERGY ........................... 169
10.7.1 COMPANY OVERVIEW............................................................ 169
10.7.2 FINANCIAL OVERVIEW ......... 169
10.7.3 PRODUCTS OFFERED................................................ 169
10.7.4 KEY DEVELOPMENTS.................................................. 169
10.7.5 SWOT ANALYSIS .......... 170
10.7.6 KEY STRATEGIES .......... 170
10.8 LAURENTIS ENERGY PARTNERS INC............................. 171
10.8.1 COMPANY OVERVIEW.................................................. 171
10.8.2 FINANCIAL OVERVIEW ....... 171
10.8.3 PRODUCTS OFFERED ... 171
10.8.4 KEY DEVELOPMENTS ... 171
10.8.5 SWOT ANALYSIS ........... 172
10.8.6 KEY STRATEGIES ......... 172
10.9 MATHESON TRI-GAS, INC. ..... 173
10.9.1 COMPANY OVERVIEW ... 173
10.9.2 FINANCIAL OVERVIEW ....... 173
10.9.3 PRODUCTS OFFERED.................................................... 173
10.9.4 KEY DEVELOPMENTS .... 173
10.9.5 SWOT ANALYSIS ......... 174
10.9.6 KEY STRATEGIES ......... 174
10.10 MESSER GROUP ...................... 175
10.10.1 COMPANY OVERVIEW 175
10.10.2 FINANCIAL OVERVIEW ....... 175
10.10.3 PRODUCTS OFFERED.......................................................... 175
10.10.4 KEY DEVELOPMENTS.......................................................................... 175
10.10.5 SWOT ANALYSIS........................................................... 176
10.10.6 KEY STRATEGIES..................................................................... 176