印度制冷剂（HFCs）行业介绍

Industry Overview - The demand for HFCs in India is expected to grow at a CAGR of 10-15% [2] - India has implemented a quota system for second-generation refrigerants [11] - The Indian HFC industry is dominated by SRF, which holds approximately 60% of the market share [6] Demand Analysis - The total demand for R32 in India is approximately 18,000 tons per year, with 12,000 tons for OEM and 6,000 tons for the aftermarket [3] - R134a, primarily used in automotive air conditioning, has a total demand of 13,000 tons per year [3] - The demand for R410a, a mixture of R32 and R125, is around 3,000 tons per year [2] Supply Analysis - India's total HFC production capacity is approximately 63,000 tons, with SRF contributing 29,500 tons of R32, 8,000 tons of R125, and 12,000 tons of R134a [7] - NFIL is set to add 4,500 tons of R32 capacity by February 2025 [7] - India's HFC production exceeds domestic demand, primarily to meet export needs, especially to the US and the Middle East [9] Export and Import Trends - R32 export prices have declined from $8.3/kg in Q1FY23 to $4.3/kg in Q1FY25 [24] - R125 export prices dropped from $18.6/kg in Q1FY23 to $6.4/kg in Q1FY25 [24] - R134a import prices increased from $2.8/kg in Q1FY23 to $3.7/kg in Q1FY25 [26][29] Key Players - SRF is the largest player in the Indian HFC market, with a total capacity of 47,000 tons, including 27,000 tons of R32, 12,000 tons of R134a, and 8,000 tons of R125 [32] - NFIL has expanded its R32 capacity to 8,500 tons and has partnered with Honeywell to produce HFOs [35][36] - GFL focuses on R22 production for fluoropolymers and has a significant presence in the global fluorochemical market [40][41] Regulatory and Environmental Factors - India is phasing out HCFCs, with a cumulative reduction target of 97.5% by 2030 and complete elimination by 2040 [13][14] - India plans to reduce HFC production by 10% in 2032, 20% in 2037, 30% in 2042, and 85% in 2047 [15][16] - The Indian government promotes the use of HFCs as alternatives to reduce carbon footprints, with R410a and R32 being the most common substitutes for HCFC-22 [12]