A report forecasts that the global market for helium will grow at an annual rate of 6.44% between 2016 and 2021. According to the report from global market research firm TechSci Research, rising demand for helium from sectors such as electronics, semiconductors, and healthcare will lead to the market growth for the gas.

Because helium has the lowest boiling point of any element and will not solidify under normal conditions even at temperatures approaching absolute zero, it is a useful as a coolant for superconducting magnets such as those used in MRI machines and super-colliders. It’s also one of the only gases that can pressurize and purge the liquid rocket engines of rockets.

Gaseous helium useful as a coolant for superconducting magnets such as those used in MRI machines and super-colliders. The report says that in 2015 Pennsylvania-based Air Products & Chemicals Inc. was the largest player in the global helium market. However, French industrial gas supplier Air Liquide completed its acquisition of Airgas in May 2016, and could challenge Air Products for the top spot.

Global helium production was dominated by the United States in 2015, and the country accounted for a production share of 62.41%, according to the report. Discoveries of new helium sources are expected to further drive the global helium market during the five-year forecast period. Gaseous helium was the market’s dominant product in 2015, mostly because of its use in semiconductors, leak detection, and welding applications. Liquid helium’s foremost use is in the science of cryogenics.

Another factor in the projected growth in demand for helium could be its stable price and increasing availability, says Karan Chechi, research director with TechSci Research. Chechi also says that the growing electronics sectors in China, Japan, and South Korea are anticipated to propel demand for gaseous helium.