The Global Third-generation HFCs Refrigerant Market was valued at USD 5.1 Billion in 2025 and is projected to reach USD 7.2 Billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period (2024–2030). This growth is propelled by the phasedown of ozone-depleting substances under the Montreal Protocol and its Kigali Amendment, increasing demand for air conditioning and refrigeration, and the critical transition toward lower Global Warming Potential (GWP) alternatives in developed and emerging economies.

As the global cooling industry navigates stringent environmental regulations and the push for sustainable technologies, the role of leading chemical manufacturers becomes paramount. In this blog, we profile the Top 10 Companies in the Third-generation HFCs Refrigerant Industry—a group of chemical giants and specialized producers shaping the future of thermal management with innovative, next-generation solutions.

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🔟 1. The Chemours Company

Headquarters: Wilmington, Delaware, USA
Key Offering: Opteon™ series (e.g., XL41, XL40), Freon™ refrigerants

Chemours is a global leader in fluoroproducts, offering a wide portfolio of third-generation HFCs and their lower-GWP replacements. The company’s Opteon™ portfolio is designed to meet evolving regulatory demands while delivering high performance in air conditioning, refrigeration, and heat pump applications.

Sustainability Initiatives:

• Investing over $100 million in Opteon™ production capacity
• Committed to achieving a 60% reduction in operational GHG emissions by 2030
• Pioneering the development of fourth-generation HFOs

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Global Third-generation HFCs Refrigerant Market – View in Detailed Research Report

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9️⃣ 2. Arkema

Headquarters: Colombes, France
Key Offering: Forane® refrigerants (R32, R125, R410A), HFO blends

Arkema is a major European producer of fluorochemicals, with a strong focus on sustainable refrigerant solutions. The company’s Forane® range includes key third-generation HFCs and is actively developing blends that offer reduced environmental impact for the HVAC-R industry.

Sustainability Initiatives:

• Development of low-GWP fluorine-based solutions
• Integration of circular economy principles in product lifecycle
• Active participation in international environmental agreements

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8️⃣ 3. Daikin Industries, Ltd.

Headquarters: Osaka, Japan
Key Offering: R32 refrigerant (acclaimed for its lower GWP), air conditioning systems

Daikin is not only a world-leading air conditioner manufacturer but also a significant producer of refrigerants. The company’s promotion of R32, a third-generation HFC with roughly one-third the GWP of R410A, has been a major driver in the industry’s shift toward more sustainable options.

Sustainability Initiatives:

• Global advocacy for R32 adoption
• Investment in HFO (R1234yf, R1234ze) technology
• Targeting carbon neutrality by 2050

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7️⃣ 4. Honeywell International Inc.

Headquarters: Charlotte, North Carolina, USA
Key Offering: Solstice® HFOs, Genetron® HFCs

Honeywell is a pioneer in developing and commercializing low-GWP refrigerants. While known for its fourth-generation Solstice® HFOs, the company remains a key supplier of third-generation HFCs and is instrumental in facilitating the industry transition through its broad portfolio and technical expertise.

Sustainability Initiatives:

• Multi-billion dollar investment in Solstice® technology
• Helping customers avoid over 326 million metric tons of CO2e
• Commitment to carbon neutrality in its operations by 2035

Download FREE Sample Report:
Global Third-generation HFCs Refrigerant Market – View in Detailed Research Report

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6️⃣ 5. Orbia Advance Corporation (formerly Mexichem)

Headquarters: Mexico City, Mexico
Key Offering: Fluoro-based solutions, R134a, R410A

Orbia, through its Fluorinated Solutions business (formerly Mexichem), is a leading global integrated producer of fluorochemicals. The company has a significant manufacturing footprint for third-generation HFCs and is expanding its capacity for next-generation products to meet global regulatory trends.

Sustainability Initiatives:

• Investment in new production lines for low-GWP refrigerants
• Focus on energy efficiency and emission reductions in manufacturing
• Developing solutions aligned with the Kigali Amendment timelines

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5️⃣ 6. Shandong Dongyue Organosilicon Materials Co., Ltd.

Headquarters: Zibo City, Shandong, China
Key Offering: R32, R125, R410A, R134a

Shandong Dongyue is one of China’s largest and most comprehensive fluorochemical producers. The company plays a critical role in supplying the domestic and Asian markets with essential third-generation HFCs, supporting the massive regional demand for refrigeration and air conditioning.

Sustainability Initiatives:

• R&D focus on green and environmentally friendly chemical products
• Expansion of production capacity for key HFCs and their alternatives
• Adherence to China’s national phase-down schedule for HFCs

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4️⃣ 7. Zhejiang Juhua Co., Ltd.

Headquarters: Quzhou, Zhejiang, China
Key Offering: Refrigerant gases (R22, R32, R125, R134a), fluoropolymers

Zhejiang Juhua is a significant state-involved chemical enterprise in China with a strong focus on the fluorine chemical industry. It is a major supplier of refrigerant blends and components, crucial for the manufacturing of air conditioners and refrigeration equipment worldwide.

Sustainability Initiatives:

• Technological upgrades for cleaner production processes
• Development of high-value, low-GWP fluorine products
• Active role in China’s fluorochemical industry consolidation

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3️⃣ 8. Jiangsu Meilan Chemical Co., Ltd.

Headquarters: Taizhou, Jiangsu, China
Key Offering: Refrigerants (R125, R32, R410A), Fluorinated Intermediates

Jiangsu Meilan is a specialized manufacturer of fluorochemicals, including key third-generation HFC refrigerants. The company has established itself as a reliable supplier in the global market, with a strong export orientation and a focus on product quality and consistency.

Sustainability Initiatives:

• Continuous process optimization to reduce environmental footprint
• Preparation for the transition to next-generation refrigerants
• Compliance with international standards and regulations

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2️⃣ 9. Zhonghao Chenguang Research Institute of Chemical Industry

Headquarters: Zigong, Sichuan, China
Key Offering: Specialty fluorochemicals, refrigerant blends, R&D services

Zhonghao Chenguang is a research-intensive enterprise focusing on the development and production of advanced fluorinated materials. It serves as an important supplier of specialty refrigerants and contributes significantly to the technical advancement of the industry.

Sustainability Initiatives:

• Strong emphasis on R&D for novel low-GWP molecules
• Collaboration with academic and industrial partners
• Focus on high-performance, environmentally compliant products

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1️⃣ 10. Luxi Chemical Group Co., Ltd.

Headquarters: Liaocheng, Shandong, China
Key Offering: Chemical fertilizers, methanol, refrigerant gases (R32)

Luxi Chemical is a large-scale chemical conglomerate in China that has expanded into the fluorine chemical chain. The company’s production of R32 and other HFCs adds significant capacity to the global market, catering to both domestic infrastructure growth and international demand.

Sustainability Initiatives:

• Diversification into value-added chemical segments
• Investment in environmental protection and safety measures
• Aligning production with China’s dual carbon goals

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

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🌍 Outlook: The Future of Refrigerants Is Lower-GWP and Regulation-Driven

The third-generation HFCs refrigerant market is at a pivotal crossroads. While these chemicals currently dominate due to their performance and established infrastructure, the industry is rapidly pivoting towards ultra-low GWP alternatives like HFOs and natural refrigerants, driven by global environmental mandates.

📈 Key Trends Shaping the Market:

• Accelerated HFC phasedown schedules under the Kigali Amendment, particularly in developed regions
• Rising demand for air conditioning in Asia-Pacific, Latin America, and the Middle East
• Technological innovation in blending HFCs with HFOs to create transitional, lower-GWP solutions
• Growing emphasis on lifecycle climate performance (LCCP) and energy efficiency

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

The companies listed above are not only supplying the essential cooling agents for modern life—they are actively engineering the sustainable transition of the global refrigeration and air conditioning industry.