India’s Refrigerant Makers Bet Big on R-32 and HFO Capacity

Indian fluorochemical producers announced a wave of capacity expansions in 2026, driven by rising air-conditioning demand and Kigali Amendment quota obligations. Gujarat Fluorochemicals unveiled plans to add R-134a capacity to its existing portfolio of R-32, R-22, R-125 and R-410A, enabling fuller utilization of its Montreal Protocol entitlement. SRF Ltd. more than doubled its capital expenditure for a fourth-generation refrigerant project at Gopalpur, Odisha, to ₹22.8 billion ($240 million), including a 20,000-metric-ton-per-year HFO plant scheduled for completion by February 2028. Stallion India Fluorochemicals announced a ₹2 billion HFO facility in Rajasthan targeting a 2027 startup, alongside an R-32 expansion at Ukhaliya to reach 10,000 metric tons per year by October 2026. Tanfac Industries also raised approximately $50 million to enter the R-32 segment.