Chemplast Sanmar - R-32 Gas Manufacturer

R-32 gas future demand ?

R-32 gas demand is projected to grow robustly worldwide through 2030, with its market size expected to more than double due to energy regulations, the need for efficient cooling, and ongoing replacement of high-GWP refrigerants.
Market Growth and Drivers

The global R-32 refrigerant market size was valued at about $3.2 billion in 2023 and is expected to reach $6.5 billion by 2032, expanding at a CAGR of roughly 8–11% depending on the source.

Main demand drivers:

Increasing air conditioner and refrigeration usage in Asia (India, China, Southeast Asia) and the Middle East.
Strong policy push to phase out higher-GWP gases (like R-410A), with R-32 serving as an interim, eco-friendlier option until stricter standards arrive.
Adoption is boosted by international climate agreements (Kigali Amendment, F-gas regulations) and green building standards.

Future Demand Outlook

R-32 demand is expected to remain strong until at least 2030:
Most new AC and HVAC systems globally are shifting to R-32 for efficiency and compliance.
Even as regions like the EU move toward R-290 and CO₂ after 2030, R-32 will dominate commercial and residential applications in markets where technical, cost, and safety constraints slow the transition to alternatives.
The price of R-32 increased by 20% in early 2025, pointing to supply tightness alongside rising consumption.

India’s Prospects

India’s AC market is growing at 15% annually, making it one of the fastest-rising global consumers of R-32 refrigerant.
Leading Indian manufacturers have announced large projects in anticipation of continued, strong domestic and export demand.
R-32 is therefore set to remain the mainstream refrigerant for AC and refrigeration systems—globally and especially in developing regions—through most of this decade, supported by consumer, regulatory, and industry trends.Future demand for R-32 refrigerant gas is expected to grow strongly until at least 2030, driven by regulations phasing out higher-GWP refrigerants, booming air conditioning markets in economies like India, and increasing consumer awareness of energy efficiency and climate impact. Global R-32 market size is projected to more than double from around $3 billion in 2023 to over $6 billion by 2032, growing at a CAGR of 7–11% depending on the region and forecast source.

Drivers of Future Demand

Regulatory changes (Montreal Protocol, Kigali Amendment, EU F-Gas regulations) are propelling adoption as R-32 offers much lower global warming potential than older refrigerants like R-410A.
Rapid growth of the air conditioning and refrigeration sectors in Asia, Middle East, and emerging markets supports strong R-32 consumption trends.
Its suitability for energy-efficient HVAC systems and favorable technical properties make it a preferred choice for manufacturers until even greener solutions become mass-market.

Outlook to 2030 and Beyond

R-32 demand will remain strong globally through at least 2029, dominating new installations for residential and light commercial air conditioning.
After 2030, European and some advanced markets may shift more to natural refrigerants (R-290, CO₂), but R-32 is expected to maintain market leadership where cost, safety, and infrastructure constraints persist.
Price and supply chain pressures are already evident, with a 20% price rise in 2025 signaling tight supply alongside robust demand in developing regions.
In India, the air conditioning market is growing at above 15% annually, cementing R-32’s importance for at least the next 5–7 years.
In summary, demand for R-32 refrigerant gas will expand strongly in the foreseeable future, making it a pillar of global and Indian HVAC growth through the rest of this decade.

R-32 gas maker companies

R-32 gas (difluoromethane) is produced by several major global and Indian companies specializing in refrigerants and HVAC solutions. Daikin stands out as a pioneering manufacturer, but there are many others in the market as well.^[1]^[2]^[3]

Key Global R-32 Manufacturers

· Daikin Industries Ltd. (Japan) – A pioneer and one of the world’s largest manufacturers of R-32 refrigerant.^[3]^[1]

· Honeywell International Inc. (USA).^[2]

· The Chemours Company (USA).^[2]

· Arkema S.A. (France).^[2]

· Linde plc (Ireland/Germany).^[2]

· Orbia (formerly Mexichem, Mexico).^[1]^[2]

· Sinochem Group Co., Ltd. (China).^[1]^[2]

· Dongyue Group Co., Ltd. (China).^[1]^[2]

· Asahi Glass Co., Ltd. (AGC Inc., Japan).^[2]

· Mitsubishi Chemical Corporation (Japan).^[2]

Major Indian R-32 Producers/Suppliers

· Godrej.^[4]

· Refex Industries Ltd., Chennai.^[5]

· Gujarat Fluorochemicals Limited (GFL), marketed under the “REFRON” brand.^[6]

· Maharashtra Polybutene Company Limited (MPCL), producing R-32 as “Reftron”.^[7]

· Floron (brand).^[8]^[4]

· Stallion (brand).^[4]^[8]

· SVCG (Sri Venkateswara Carbonic Gases).^[9]^[10]

· Ajay Air Products Pvt Ltd, Delhi.^[11]

· Ashirwad Gas, Gujarat.^[12]^[11]

· Noor Sales, Maharashtra.^[11]

· Shravan Refrigeration.^[8]

Notes

· Daikin not only manufactures R-32 but has also provided technical assistance globally to support its adoption.^[3]

· Several of the above companies also act as importers or major distributors of R-32 gas for the air conditioning and refrigeration industry in India and abroad.^[13]^[4]^[11]

· The market includes both global heavyweights and a wide array of regional Indian brands and bulk suppliers.^[8]^[11]

These companies and brands are the leading sources for R-32 refrigerant globally and within India, meeting the needs of air conditioning, industrial, and commercial refrigeration.^[4]^[1]^[2]

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listed indian manufacturers

The major listed Indian manufacturers of R-32 refrigerant gas include SRF Ltd, Navin Fluorine International Ltd, Chemplast Sanmar Ltd, Gujarat Fluorochemicals Ltd (GFL), and newly emerging Stallion India Fluorochemicals.^[18]^[19]^[20]^[21]^[22]

Listed Indian R-32 Manufacturers

Company Name	Stock Exchanges	Segment	Key Notes
SRF Ltd	NSE, BSE	Fluorochemicals/Refrigerants	Leading Indian producer of R-32^[19]^[23]
Navin Fluorine International Ltd	NSE, BSE	Specialty Fluorochemicals	Major player, expanding into R-32^[19]^[20]
Chemplast Sanmar Ltd	NSE, BSE	Specialty Chemicals	Recently announced large R-32 capex^[19]^[20]
Gujarat Fluorochemicals Ltd (GFL)	NSE, BSE	Fluoropolymer/Refrigerants	“REFRON” brand, established R-32 maker^[18]
Stallion India Fluorochemicals	BSE SME (recent IPO)	Refrigerant Gases	Setting up advanced R-32 facility^[21]^[22]

Notes

· SRF Ltd and Navin Fluorine International Ltd are the longstanding producers, with Chemplast Sanmar and Stallion India Fluorochemicals investing aggressively in this segment as of 2025.^[19]^[20]^[21]^[22]

· Gujarat Fluorochemicals Ltd is well-known for its “REFRON” brand and is considered a core manufacturer of R-32 in India.^[18]

· These companies are all publicly traded, allowing investors and researchers to track their financials and expansion announcements.^[20]^[21]^[22]^[19]

For industrial and investment research, these listed companies represent the main Indian sources for R-32 gas manufacturing as of 2025.^[23]^[21]^[22]^[19]^[20]^[18]

⁂

Chemplast Sanmar Ltd for R-32 gas pant

Chemplast Sanmar Ltd is investing ₹340 crore in a greenfield plant dedicated to the production of R-32 refrigerant gas. The new facility is located in Tamil Nadu and leverages the company’s established expertise in fluorination chemistry. The projected capacity of the R-32 plant is around 34,000 to 40,000 tons per year, set to be commissioned by October 2026 (subject to regulatory clearances).^[38]^[39]^[40]^[41]^[42]^[43]^[44]

Key Project Highlights

· Investment: ₹340 crore for the greenfield facility.^[40]^[41]^[42]^[43]^[45]

· Location: Tamil Nadu (Karaikal/Cuddalore region).^[42]^[38]

· Targeted Capacity: 34,000–40,000 tons per annum of R-32 gas.^[44]^[38]

· Timeline: Expected commissioning by October 2026, contingent on environmental clearance.^[39]

· Rationale: The company is expanding into R-32 to support climate-friendly refrigeration solutions and build on its established specialty chemicals portfolio.^[41]^[40]

· Procurement Strategy: Key raw materials like HF (hydrogen fluoride) will be sourced via a mix of domestic supply and imports; methylene dichloride will be provided partially from internal resources.^[39]

· Sustainability: The plant will feature a zero liquid discharge (ZLD) system and other environmental safeguards.^[38]

Additional Information

· Chemplast Sanmar’s broader specialty chemicals segment, including the Custom Manufactured Chemicals (CMC) division, is experiencing strong growth, supporting the overall expansion strategy.^[40]^[41]

· This R-32 project signals an increasing focus by Indian manufacturers on low-global-warming refrigerants amid tightening environmental regulations and rising demand from the HVAC sector.^[45]^[41]

Chemplast Sanmar is thus positioning itself as a major domestic source of R-32, contributing to both environmental compliance and the evolving needs of the refrigeration and air conditioning market in India.^[43]^[41]^[42]^[45]^[44]^[40]