Canada Helium Market Report and Forecast 2024-2032

Canada Helium Market Size

The Canada helium market is projected to grow at a CAGR of 4.73% between 2024 and 2032.

Canada Helium Market Outlook

• As of May 2022, Saskatchewan was the only Canadian province commercially producing helium. It supplied around 1% of the world’s helium demand.

• The government aims to increase Saskatchewan’s helium production to supply 10% of the world’s helium demand by 2030.

• According to industry reports, as of December 2023, Canada held the fifth largest helium resource deposits globally.

Canada Helium Market Growth

Helium is significantly used in cooling magnetic resonance imaging (MRI) machines as well as in the production of fiber optics, flat panel displays, and semiconductors (transistors). The gas also finds application as a lifting gas in balloons as well as in leak detection for vacuum-sealed containers. As the use of helium, becomes increasingly common, its demand is expected to grow in Canada and the world.

As of December 2023, Canada is home to around 70 billion cubic feet of helium resources. Most of that is found in southern Alberta and Saskatchewan. The number of helium-producing wells in Saskatchewan in 2022 was 15. Further, the province’s helium production stood at 2,380 (103m3) in 2022.

According to the Canada helium market analysis, the rising demand for helium has spurred increased exploration and development activities in the country. The gas is listed on the Government of Canada's critical minerals list, which includes 31 minerals and metals that are essential for Canada’s sustainable economic growth. With opportunities for helium exploration and development in Saskatchewan and Alberta, Canada can take advantage of helium's potential for energy diversification and strengthen its market position globally. With the rising focus of the government to boost domestic production, the global helium demand could be met partially with Canadian-produced helium.

Canada Helium Industry Segmentation

Canada Helium Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.

Market Breakup by Phase

• Liquid

• Gas

Market Breakup by Application

• Breathing Mixes

• Cryogenics

• Leak Detection

• Pressurizing and Purging

• Controlled Atmosphere

• Welding

• Others

Market Breakup by End Use

• Aerospace and Aircraft

• Electronics and Semiconductors

• Nuclear Power

• Healthcare

• Welding and Metal Fabrication

• Others

Market Breakup by Region

• British Columbia

• Alberta

• The Prairies

• Central Canada

• Atlantic Canada

Canada Helium Market Share

The gas phase is dominating the global market. This growth can be attributed to the rising use of the product in a number of application sectors, such as nuclear power, welding and cutting, gas chromatography, leak detection, and cooling and refrigeration.

Leading Companies in Canada Helium Market

The key players in the market are investing in strategies to boost their helium production.

• Royal Helium Ltd.

• Avanti Helium Corp.

• Helium Evolution Incorporated 

• Others

Key Highlights of the Report