HFC Phase-Down Schedule Kigali Amendment Annex A B C Market – View in Detailed Research Report

MARKET INSIGHTS

Global HFC Phase-Down Schedule Kigali Amendment Annex A, B, and C market size was valued at USD 18.74 billion in 2025. The market is projected to grow from USD 19.21 billion in 2026 to USD 28.63 billion by 2034, exhibiting a CAGR of 5.1% during the forecast period.

The Kigali Amendment to the Montreal Protocol, which entered into force in January 2019, establishes a legally binding phase-down schedule for hydrofluorocarbons (HFCs) across Annex A, B, and C country groupings. Annex A encompasses developed nations, including the United States, European Union member states, and other high-income economies, which were required to begin reducing HFC consumption by 10% from their baseline by 2019, reaching an 85% reduction by 2036. Annex B covers economies in transition such as Russia and Belarus, while Annex C includes Article 5 developing nations such as China, India, and Brazil, which operate under differentiated timelines and baseline calculations. The HFCs targeted under this framework – widely used as refrigerants, foam-blowing agents, and aerosol propellants – carry global warming potentials hundreds to thousands of times greater than carbon dioxide.

The market is gaining considerable momentum as regulatory pressure accelerates the transition toward low-GWP alternatives such as hydrofluoroolefins (HFOs), natural refrigerants, and next-generation blends. Furthermore, the refrigeration, air conditioning, and foam manufacturing sectors are actively reformulating product lines to align with phase-down mandates. Key industry participants including Honeywell International Inc., The Chemours Company, Daikin Industries Ltd., and Arkema S.A. are at the forefront of developing and commercializing compliant refrigerant alternatives, reinforcing the market’s trajectory through sustained innovation and strategic global partnerships.

Product Definition

Hydrofluorocarbons (HFCs) are synthetic, non-ozone depleting gases primarily used as refrigerants, foam-blowing agents, and aerosol propellants. They possess high global warming potentials (GWPs), ranging from 100 to 10,000 times that of CO₂, making their phasedown critical to climate mitigation efforts.

Top 10 Companies in the HFC Phase-Down Schedule Kigali Amendment Annex A B C Market

10. Gujarat Fluorochemicals Limited (India)

Headquarters: Ahmedabad, India
Key Offering: High purity HFCs and specialty fluorochemicals

Gujarat Fluorochemicals Limited is a leading Indian fluorochemical manufacturer, supplying HFCs to the refrigeration and HVAC markets across Asia. The company focuses on process optimization to reduce emissions and improve energy efficiency.

Sustainability & Growth Initiatives:

• Investing in low‑GWP alternative production lines.
• Implementing closed-loop recovery systems for HFCs.
• Expanding capacity to meet growing demand in emerging markets.

9. SRF Limited (India)

Headquarters: Chennai, India
Key Offering: HFCs, HFOs, and specialty fluorochemicals

SRF Limited is a diversified chemical group with a strong presence in the HFC market. It has been actively developing low‑GWP refrigerants and has partnerships with global technology providers.

Sustainability & Growth Initiatives:

• Scaling production of HFO-based refrigerants.
• Adopting green manufacturing practices.
• Strengthening R&D for next-generation blends.

8. Dongyue Group Limited (China)

Headquarters: Shanghai, China
Key Offering: HFCs, HFOs, and specialty chemicals

Dongyue Group is one of China’s largest fluorochemical producers, focusing on HFCs for refrigeration and air-conditioning applications. The company is transitioning its portfolio toward lower-GWP solutions.

Sustainability & Growth Initiatives:

• Investing in HFO and natural refrigerant technology.
• Implementing energy-efficient production processes.
• Expanding market reach in the Asia-Pacific region.

7. Linde plc (Ireland)

Headquarters: Dublin, Ireland
Key Offering: HFCs, HFOs, and industrial gases

Linde plc is a global industrial gas and engineering company that supplies HFCs and low-GWP alternatives to the HVAC and refrigeration sectors worldwide.

Sustainability & Growth Initiatives:

• Developing low-GWP refrigerants for commercial use.
• Integrating carbon-capture solutions in production.
• Expanding service and support for retrofit projects.

6. Arkema S.A. (France)

Headquarters: Paris, France
Key Offering: HFCs, HFOs, and specialty polymers

Arkema is a leading global specialty chemicals company that produces a range of fluorochemicals, including HFCs and low-GWP blends for refrigeration and air-conditioning applications.

Sustainability & Growth Initiatives:

• Investing in HFO research and development.
• Launching low-GWP product lines.
• Partnering with OEMs to accelerate adoption.

5. Daikin Industries Ltd. (Japan)

Headquarters: Osaka, Japan
Key Offering: Refrigerants, HVAC equipment, and low-GWP solutions

Daikin is a global HVAC leader that manufactures a wide range of refrigerants, including HFCs and low-GWP alternatives, along with high-performance HVAC systems.

Sustainability & Growth Initiatives:

• Developing HFO-based refrigerants for commercial use.
• Deploying energy-efficient HVAC technologies.
• Expanding global service networks for retrofits.

4. Honeywell International Inc. (United States)

Headquarters: Charlotte, North Carolina, USA
Key Offering: HFCs, HFOs, refrigerants, and HVAC solutions

Honeywell is a diversified technology company that supplies HFCs and low-GWP refrigerants to the refrigeration, air-conditioning, and industrial sectors worldwide.

Sustainability & Growth Initiatives:

• Investing in HFO and natural refrigerant development.
• Implementing green manufacturing practices.
• Providing training programs for technicians.

3. The Chemours Company (United States)

Headquarters: Wilmington, Delaware, USA
Key Offering: HFCs, HFOs, and specialty chemicals

The Chemours Company is a leading fluorochemical manufacturer that supplies HFCs and low-GWP alternatives to the global HVAC and refrigeration markets.

Sustainability & Growth Initiatives:

• Expanding HFO production capacity.
• Developing low-GWP blends for commercial applications.
• Implementing carbon-neutral manufacturing goals.

2. Sinochem Holdings Corporation Ltd. (China)

Headquarters: Beijing, China
Key Offering: HFCs, HFOs, and specialty chemicals

Sinochem Holdings is one of China’s largest fluorochemical producers, focusing on HFCs for refrigeration and air-conditioning, and actively transitioning to low-GWP solutions.

Sustainability & Growth Initiatives:

• Investing in HFO and natural refrigerant technologies.
• Adopting energy-efficient production processes.
• Expanding market presence in Asia-Pacific.

1. AGC Inc. (Japan)

Headquarters: Tokyo, Japan
Key Offering: HFCs, HFOs, and specialty chemicals

AGC Inc. is a leading global specialty chemicals and glass manufacturer that supplies HFCs and low-GWP refrigerants to the HVAC and refrigeration industries worldwide.

Sustainability & Growth Initiatives:

• Investing in HFO-based refrigerant development.
• Implementing green manufacturing practices.
• Expanding service networks for retrofits and maintenance.

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Outlook: The Future of HFC Phase-Down Schedule Kigali Amendment Annex A B C Market

The HFC phase-down market is expected to accelerate as regulatory frameworks tighten and demand for low-GWP solutions rises. Manufacturers are investing heavily in R&D to deliver safer, more efficient refrigerants, while service and training sectors expand to support retrofits and maintenance.

Future Trends

• Rapid adoption of hydrofluoroolefins (HFOs) and natural refrigerants.
• Increased deployment of energy-efficient HVAC and refrigeration systems.
• Growth in reclamation, recycling, and recovery services.
• Expansion of digital monitoring and predictive maintenance for retrofits.
• Greater collaboration between OEMs, service providers, and governments to meet phase-down targets.