[CJ] Fluorochemical Update Recommendation: Refrigerants Long-term Uptrend, Fluoromaterials Poised to Take Off, Highly Cost-effective for Allocation

English summary

### [CJ] Fluorochemical Update Recommendation: Refrigerants Long-term Uptrend, Fluoromaterials Poised to Take Off, Highly Cost-effective for Allocation Time: 2026-07-30 16:31:55 Content: [CJ] Fluorochemical Update Recommendation: Refrigerants Long-term Uptrend, Fluoromaterials Poised to Take Off, Highly Cost-effective for Allocation. In the first half of this year, refrigerants underwent a demand-side stress test: 1) poor performance in air conditioning and automotive end-markets; 2) export decline due to strait blockades; 3) overseas inventory destocking. Under these conditions, R22, R32, R134a, and R124 rose by 43.8%, 2.4%, 10.3%, and 14.6% respectively, mainly due to normal annual growth in the maintenance market and high industry concentration. Meanwhile, companies significantly raised R32 long-term contract prices in Q3, further demonstrating the industry's strong pricing power. Looking ahead, inventories are at low levels, El Niño brings hot weather, and demand recovery on the margin could lead to short-term improvement. In the long run, further reduction of refrigerant quotas in 2029 may accelerate the pace of price increases.…