The current situation of industrial refrigerants

The current situation of industrial refrigerants

At a critical period of intergenerational transition: Currently, the industrial refrigerant industry is in a critical period of intergenerational transition driven by environmental policies, with accelerated reduction of second-generation refrigerants, deepening of third-generation refrigerant quota system, and accelerated commercialization of fourth generation refrigerants. For example, by 2025, the production quota for the second-generation refrigerant R22 will be reduced by 18%, and the domestic quota will be lowered to 86000 tons; Although the quota for the third-generation refrigerant R32 has increased by 40800 tons year-on-year, the actual increase is limited due to limitations in raw material matching and equipment operating rates; The fourth generation refrigerant HFOs (hydrofluoroolefins) has entered the early stage of commercialization, and companies such as Juhua Corporation and Sanmei Corporation already have production capacity.

The contradiction between market supply and demand has intensified: the demand side is driven by high temperatures, high growth in air conditioning production, and overseas replenishment cycles, while the supply side is constrained by quotas and increased concentration, resulting in high prices. From January to March 2025, the price of R32 increased by 67.86% year-on-year, while the price of R22 increased by 60%. The tight supply-demand balance supported the high price operation.

Industry concentration has increased: Under the quota system, the refrigerant industry exhibits high concentration characteristics, and leading enterprises rely on their scale advantages and technological barriers to enhance performance certainty, further increasing industry concentration.

Stricter environmental policies: The government will continue to strengthen the control of high GWP refrigerants and promote the research and application of environmentally friendly refrigerants. For example, fourth generation refrigerants (HFOs) are gradually becoming the main direction for industry upgrading due to their low GWP values and good environmental performance. At the same time, the government will increase its support for energy conservation, emission reduction, and energy efficiency improvement, promoting the green development of the refrigerant industry.

Technological innovation drives development: Technological innovation is an important driving force for the development of the refrigerant industry. Enterprises need to innovate in energy conservation, emission reduction, safety and reliability, develop new environmentally friendly refrigerants, optimize production processes, improve production efficiency and product quality. The introduction of intelligent production equipment and systems will achieve automation and intelligence in the production process, enhancing the overall competitiveness of the industry.

Diversification of application fields: With the continuous advancement of technology, refrigerants will show a trend of diversified applications. In addition to traditional air conditioning and refrigerator fields, the application of refrigerants in heat pumps, cold chain logistics, data center liquid cooling technology and other fields will gradually increase. For example, in the field of heat pumps, the application of refrigerants in northern heating will increase; In the field of cold chain logistics, the demand for refrigerants will increase with the rapid development of the industry; In data center liquid cooling technology, the application of refrigerants will improve heat dissipation efficiency and energy efficiency ratio.