The Impact of the Different Market Factors on Helium-3 Market in Upcoming! Forecast to 2025

Space Race among Nations for Mining Helium-3 Proving Conducive
Helium-3 (He3) is a light, stable isotope of helium with two protons and one neutron, which has the potential to be used as a fuel in future nuclear fusion power plants. Helium-3 has significant use in homeland security, national security, medicine, industry, and science. The demand for helium-3 has been rising, since the rise in the number of terrorist attacks across the world. After September 11, 2001, the Federal government of the United States started stationing neutron detectors at the U.S. border to help secure the country against smuggled nuclear and radiological material. The continuous deployment of detecting equipment has created a heavy demand for the helium-3 market.
Helium-3 is popularly used in medical imaging techniques and magnetic resonance imaging (MRI) in clinical respiratory implications, such as asthma, chronic obstructive pulmonary disorders, cystic fibrosis, radiation-induced lung damage, and various transplantation. This has resulted in the shrinking of the helium-3 stockpile and hence, there is a need for large quantities of helium-3, which is outstripping the current supply. Due to the severe need for He3, many governments have consequently indicated their plan to go to the Moon to deposit helium-3 as a fuel supply. Such plans are expected to be fruitful during the forecast period. These factors are expected to drive the helium-3 market during the forecast period.
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Increased He3 Applications Striving to Drive Helium-3 Market
Almost 80% of helium-3 is presently being used for security purposes worldwide. Other applications include cryogenics, quantum computing, neutron scattering facilities, oil & gas exploration, and other medical purposes. The increasing use of He3 has led to a shortage and hence, the financial, technical, and political potential of returning to the Moon for helium-3 is estimating to meet the global demand for energy and sensibly competitive options for meeting that demand. Currently, helium-3 is generated as a byproduct of the continuance of nuclear weapons, which obtain a supply of around 15 kg in a year. Naturally, helium-3 is emitted by the Sun within its solar winds. As our atmosphere prevents helium-3 from arriving on the Earth, researchers are now planning to explore space to fulfill the ongoing demand for the gas. However, the ongoing COVID-19 pandemic has delayed the research and development due to limited work resources and stringent government regulations to stay at home.
Helium-3 Mostly Extracted as Byproduct of Tritium
The rapid progression in medical science and growing use of Nuclear Magnetic Resonance Imaging (NMR) has made helium-3 a highly desirable tool for various medical purposes. Moreover, He3 used in balloons can decrease temperatures to almost absolute zero which produces non-radioactive medical lung imaging and identify neutrons radiating from hidden nuclear devices. Moreover, helium-3 is a part of a clean energy source that is non-toxic and non-corrosive gas, which can be easily administered and provides high-resolution imaging of the human body interior, particularly lungs.
The current supply of helium-3 is mostly derived from the U.S. and Russia. Other sources of helium-3 may present diverse terms of technical and policy challenges. Governments can expand the supply of helium-3, either from traditional sources or by promoting the development of new sources. In other terms, creating helium-3 from these sources may be ineffective on cost grounds. Until previous years, the National Nuclear Security Administration (NNSA) has created tritium for use in nuclear warheads. The tritium decays into helium-3 and that is replaced to maintain warhead effectiveness. Helium-3 was extracted as a byproduct of sustaining the purity of the tritium supply.
Europe Plans to Extract Helium-3 from Moon
The rising applications of helium-3 in the medical, defense, and oil industries, and logging projects to investigate the permeability of reservoirs are anticipated to drive the global helium-3 market during the forecast period. Moreover, helium-3 is proven to be an important isotope in neutron detection instruments. It has a huge absorption cross-section for thermal neutron beams and utilized as a converter gas in neutron detectors. Moreover, helium-3 can be used as a fuel in nuclear fusion power plants. Another vital benefit of using helium-3 fuels is that the reaction results can be managed by electric and magnetic fields and consequently be utilized for direct energy reformation, which is far more efficient than thermal conversion.
In 2020, the global helium-3 market was dominated by the Asia Pacific, owing to the improvement in the defense industry and the rise in the manufacturing and practice of neutron detectors in various countries of the region. In addition, the helium-3 market in North America is expected to expand in the near future due to the presence of major manufacturers in the U.S., and the growing demand for helium-3 in military applications. Moreover, in Europe, nations have established various government programs to extract helium-3 from the Moon. The usage of helium-3 is increased making a scarcity of supply. Thus, the global helium-3 market is anticipated to reach ~US$ 800 Mn by 2031, expanding at a CAGR of ~9% during the forecast period.
Helium-3 Market: Overview
• 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 0001%of helium on earth. However, it is present in abundance on the moon. The 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 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
• According to Transparency Market Research’s latest research report on the global helium-3 market for the historical year 2020and the forecast period 2021 to 2031, rise in usage of helium-3 in nuclear detectors used in defense application is a key factor that is expected to boost the global helium-3 market during the forecast period
• In terms of revenue, the global helium-3 market is estimated to reach ~US$ 800Mn by 2031, expanding at a CAGR of ~9% during the forecast period
Rise in Usage of Helium-3 in Nuclear Detectors: Key Driver
• Rise in investment in well logging activities to analyze 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
• Led by recent advancements in medical technology, helium-3 has become a highly desirable tool for Nuclear Magnetic Resonance Imaging (NMR). Hyper polarized helium-3 is a stable nontoxic isotope that is easily administered and gives very high resolutions of the interior of the human body, specifically the lungs.
• Helium offers cryogenic properties. Scientists use a mixture of helium-4 and helium-3 to achieve temperatures just a few thousandths of a degree above absolute zero. At temperatures below 5millikelvin, helium-3 becomes superfluid. This property of helium is propelling its demand across the globe.
• Implementation of stringent government regulations regarding environmental protection is estimated to boost the deployment of floating power plants in several end-use industries across the globe. Major end-use industries such as healthcare, manufacturing, chemical, and building & construction are expanding at a rapid pace around the globe. Growth in end-use industries can be ascribed to increase in demand for clean energy. This is propelling the demand for power generation from nuclear fusion. In turn, this is estimated to augment the demand for helium-3.
• Researchers from various countries introduced the idea of an automated mobile lunar machine that would excavate the regolith to a depth of three meters. It would collect the excavated regolith and separate particles 50 micrometers in size electrostatically, as these particles contain the highest helium content. The remaining soil would be dumped back on the lunar surface. These particles would be heated to 600°C - 700°C to boil off the trapped gases, which are collected and compressed into cylinders. The cooled particles are also dumped back on the surface.
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