Helium is hard to replace

Helium is common in space but extremely rare on Earth. Helium formed by radioactive decay accumulates in natural gas fields, which means modern civilization effectively depends on underground reserves. A significant portion of current supply comes from the US and Qatar, so when Middle East maritime logistics are disrupted, price spikes and supply disruptions occur immediately.

Helium matters not simply because it is light, but because of its unique physical properties that are difficult to substitute with other materials. Due to its lowest boiling point and its ability to remain liquid even at low temperatures, there is effectively no substitute in the cryogenic range. It is also inert and has high thermal conductivity, making it widely used for cooling, purging, leak detection, and process stabilization.

The major use cases are as follows.

• MRI: Needed to cool superconducting magnets. The latest equipment has significantly reduced boil-off, but the tens of thousands of already-installed units still remain highly dependent on helium.
• Semiconductors: Used in wafer growth, cooling, purging, cleaning, vacuum chambers, and EUV/DUV processes, with some processes being nearly impossible to substitute.
• Optical fiber: Used for cooling during manufacturing to prevent bubbles, with virtually no alternative.
• Aerospace purging: Needed for cleaning liquid hydrogen and liquid oxygen tanks.
• Lifting gas: Used in balloons and airships, but this accounts for a limited share.
• Science and instrumentation: Used in superconducting magnets like the LHC, SQUIDs, mass spectrometers, and leak detection.
• Welding and diving: Also used as a welding shielding gas and as a deep-sea breathing gas.

The core message is that helium's supply shock has a large ripple effect not so much because of the volume used, but because there are so many areas where it cannot be replaced. Some industries are reducing consumption or changing designs, but places that need helium, such as semiconductors, MRI, and scientific equipment, are unlikely to avoid the impact for the time being.