Driven by tightening global environmental regulations and China’s HFC quota system, the refrigerant industry is entering a new stage. The previous model of relying on capacity expansion and price competition is gradually being replaced by competition in quota management, industrial chain integration and technology reserves.
Under the Kigali Amendment, China froze HFC production and consumption in 2024 and will start reduction from 2029. In 2026, the total production quota for third-generation refrigerants is 797,800 tons. The top six manufacturers account for 89.53% of the quota, indicating a clear trend of market concentration.
Supply constraints are combining with resilient demand from air conditioners, automotive air conditioning and refrigeration appliances. In 2025, China’s output of air conditioners reached 266.98 million units and automobile production hit 34.78 million units. As of August 2026, average prices of R32, R125 and R134a reached 64,500 CNY/ton, 55,000 CNY/ton and 64,000 CNY/ton respectively.
In the long term, the industry is moving toward low-GWP fourth-generation refrigerants and high-end fluorochemical materials. Companies with sufficient quotas, diversified product portfolios and integrated supply chains are expected to remain more competitive.
Focus keyphrase：global refrigerant market trend Meta Description：Global environmental policies and China’s HFC quota system are reshaping the refrigerant industry. Supply constraints, steady demand and low-GWP trends are creating new market dynamics.