The Global Third-generation HFCs Refrigerant Market is undergoing a significant transformation, driven by the global phase-down of ozone-depleting substances and the urgent push for more sustainable cooling solutions. While exact market valuations vary by source, the market is projected to experience substantial growth through 2030, propelled by the ongoing replacement of older refrigerants in air conditioning, refrigeration, and fire-fighting systems worldwide. This evolution is underpinned by stringent international regulations like the Kigali Amendment to the Montreal Protocol, which mandates a gradual reduction in the production and consumption of high-global-warming-potential (GWP) HFCs.

As the industry pivots towards lower-GWP alternatives and next-generation technologies, the companies that develop and supply these crucial chemicals are at the forefront of this change. In this profile, we examine the Top 10 Companies in the Third-generation HFCs Refrigerant Industry—a group of global chemical giants and specialized manufacturers shaping the future of thermal management.

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🔟 1. The Chemours Company

Headquarters: Wilmington, Delaware, USA
Key Offering: Opteon™ portfolio (XL, XF, XP series), Freon™ refrigerants

Chemours is a global leader in fluoroproducts and a dominant force in the refrigerants market. Its Opteon™ platform is a series of HFO (Hydrofluoroolefin) and HFC-based low-GWP solutions designed to replace older, high-GWP refrigerants across various applications, from residential AC to commercial refrigeration.

Sustainability & Innovation Initiatives:

• Major investments in HFO production capacity to meet rising demand for low-GWP solutions.

• Pioneering the development of non-flammable, low-GWP alternatives for challenging applications.

• Commitment to achieving carbon neutrality within its operations by 2050.

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9️⃣ 2. Arkema

Headquarters: Colombes, France
Key Offering: Forane® refrigerants (including R32, R410A, R407C, and HFO blends)

Arkema is a leading European chemical company with a strong portfolio of fluorochemicals. Its Forane® brand is widely recognized in the HVAC-R industry, offering a range of third-generation HFCs and is actively developing fourth-generation HFO solutions to address evolving regulatory and environmental needs.

Sustainability & Innovation Initiatives:

• Development of ultra-low GWP HFO blends like R1234ze and R1234yf.

• Focus on creating sustainable solutions for the refrigeration and foam blowing sectors.

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8️⃣ 3. Daikin Industries, Ltd.

Headquarters: Osaka, Japan
Key Offering: R-32 refrigerant, HFC blends, and HFO development

Daikin is not only a world leader in air conditioning manufacturing but also a significant producer of refrigerants. The company has been a prominent advocate for R-32, a lower-GWP HFC, as a near-term replacement for R-410A in stationary air conditioning systems, significantly influencing market adoption.

Sustainability & Innovation Initiatives:

• Global promotion and licensing of R-32 technology to other manufacturers.

• Active R&D in next-generation refrigerants with even lower environmental impact.

• Environmental vision to achieve carbon neutrality by 2050.

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7️⃣ 4. Honeywell International Inc.

Headquarters: Charlotte, North Carolina, USA
Key Offering: Solstice® portfolio (HFOs), Genetron® refrigerants (HFCs)

Honeywell is a pioneer in the development and commercialization of low-GWP HFO technology. Its Solstice® product line includes refrigerants, blowing agents, and propellants that offer high energy efficiency and significantly reduced climate impact compared to previous generations.

Sustainability & Innovation Initiatives:

• Multi-billion-dollar investment in HFO manufacturing capacity globally.

• Solstice® ze (R-1234ze) is a key ultra-low GWP solution for chillers and foam applications.

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6️⃣ 5. Orbia Advance Corporation (formerly Mexichem)

Headquarters: Mexico City, Mexico
Key Offering: Fluoroproducts including R-134a, R-410A, R-404A, and R-32

Operating through its Fluorinated Solutions business (formerly Fluor), Orbia is a major global producer of fluorochemicals and a key supplier of HFC refrigerants. The company plays a critical role in the supply chain, serving diverse markets from automotive to stationary cooling.

Sustainability & Innovation Initiatives:

• Investment in production optimization to meet phasedown schedules efficiently.

• Development of balanced solutions that consider safety, performance, and environmental impact.

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5️⃣ 6. Zhejiang Juhua Co., Ltd.

Headquarters: Quzhou, Zhejiang, China
Key Offering: R22, R32, R134a, R125, R410A, and other fluorochemicals

As one of China’s largest fluorochemical producers, Zhejiang Juhua holds a significant market share in the Asia-Pacific region. The company manufactures a comprehensive range of HFCs and is scaling up production of key components like R32 to support the regional and global transition.

Sustainability & Innovation Initiatives:

• Expansion of production capacity for lower-GWP HFCs like R32.

• Investment in R&D for environmentally friendly fluorine-containing new materials.

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4️⃣ 7. Shandong Dongyue Organosilicon Materials Co., Ltd.

Headquarters: Zibo, Shandong, China
Key Offering: R22, R32, R125, R134a, and R410A refrigerants

Dongyue is a leading Chinese enterprise specializing in the deep processing of fluorosilicone materials. It has a strong presence in the refrigerant market, producing essential HFCs that are critical for both domestic consumption and international export markets.

Sustainability & Innovation Initiatives:

• Focus on building an integrated industrial chain from raw materials to high-value-added products.

• Emphasis on green manufacturing processes and circular economy principles.

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3️⃣ 8. Jiangsu Meilan Chemical Co., Ltd.

Headquarters: Taizhou, Jiangsu, China
Key Offering: HFC refrigerants including R125, R32, R410A, and R407C

Meilan Chemical is a major supplier in the global refrigerant market, with a strong export business. The company produces a variety of HFCs that serve as direct replacements for HCFCs and are also used as components in lower-GWP blends.

Sustainability & Innovation Initiatives:

• Continuous improvement of production technology to enhance efficiency and reduce environmental footprint.

• Strategic focus on products aligned with international environmental protocols.

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2️⃣ 9. Zhejiang Sanmei Chemical Co., Ltd.

Headquarters: Quzhou, Zhejiang, China
Key Offering: R22, R32, R125, R134a, R410A, and other specialty chemicals

Zhejiang Sanmei is another key player in China’s robust fluorochemical industry. The company manufactures a wide spectrum of refrigerants and has established a reliable supply network to meet the demands of a transitioning global market.

Sustainability & Innovation Initiatives:

• Adherence to strict quality and environmental management systems.

• Exploration of new product development to stay ahead of regulatory curves.

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1️⃣ 10. Luxi Chemical Group Co., Ltd.

Headquarters: Liaocheng, Shandong, China
Key Offering: R22, R32, R134a, and other basic chemical products

Luxi Chemical is a large-scale chemical conglomerate in China with a significant fluorine chemical business segment. It contributes substantially to the domestic and global supply of HFC refrigerants, supporting the ongoing phase-out of older substances.

Sustainability & Innovation Initiatives:

• Integration of refrigerant production within a larger, diversified chemical operations framework.

• Commitment to technological upgrades for sustainable production practices.

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🌍 Outlook: The Future of Refrigerants is Lower-GWP and Climate-Friendly

The third-generation HFCs refrigerant market is at a critical juncture. While these chemicals currently serve as the dominant replacement for HCFCs, the industry’s trajectory is firmly pointed towards even more sustainable, fourth-generation solutions with minimal climate impact. The leading companies are heavily invested in this transition, balancing current market needs with future-oriented innovation.

📈 Key Trends Shaping the Market:

• Accelerated adoption of lower-GWP single-component HFCs like R-32, particularly in Asia-Pacific.

• Rapid growth in the HFO and HFO-blend segment, driven by regulations in North America and Europe.

• Increasing importance of energy efficiency as a key selection criterion alongside GWP.

• Growing investment in recycling, reclamation, and destruction programs to manage existing refrigerant banks responsibly.

Get Full Report Here: Global Third-generation HFCs Refrigerant Market – View in Detailed Research Report

The companies profiled are not just supplying chemicals; they are enabling the global transition to smarter, more efficient, and environmentally responsible cooling—a critical component in the fight against climate change.