A market research report by IDTechEx, references data from the World Semiconductor Trade Statistics, which predicts semiconductor demand growth of 13.1% in 2024, driven by strong demand from AI applications. The growth of semis is a major driver for global helium demand. Based on various sources from helium producers, the 2023 market share of semiconductors in the helium industry was ~14%, translating to roughly 1.2bcf of helium demand. However, 2023 saw an exceptionally weak year for the semiconductor sector, with demand dropping by ~15%, due to soft Asian markets, resulting in a low base for recovery. While optimism remains, the semiconductor recovery has been slower than expected, and helium demand in 2024 is still likely to remain below 2022 levels (~1.4bcf). According to AKAP's estimates, helium demand growth from the semis industry is expected to be ~10% for 2024 (~1.3bcf) and continue at the same pace for the rest of the decade. Overall, this translates to ~8.7bcf of helium demand by the end of the decade, representing a roughly 6% CAGR.
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