Summary:
The competitiveness of Chinese fluorochemical enterprises in 2025 can be assessed by capacity scale, technological barriers, segmental market share, and policy adaptability. Below is the core tiering of domestic players, spanning basic raw materials, high-end fluorinated products, and emerging application fields.
Tier 1: Full Value Chain Leaders and Industry Standard Setters
1. Zhejiang Juhua Co., Ltd. (600160.SH)
Core strengths:
Refrigerants: Market leader with 30% national HFC quota, HFO-1234yf capacity of 20,000 tpa, supplying Tesla and BYD.
High-end materials: Only Chinese producer certified by ASML for 5,000 tpa semiconductor-grade fluorinated liquids; holds over 35% PVDF market share in PV backsheet.
Policy adaptation: Actively engaged in Montreal Protocol compliance; energy consumption for HFCs reduced by 18% through tech upgrades, earning EU CBAM exemptions.
2025 update: New 50,000 tpa electronic-grade HF plant commissioned in Quzhou to supply SMIC’s 12-inch wafer line.
2. Dongyue Group (00189.HK)
Core strengths:
Hydrogen energy materials: World’s largest PEM supplier with 40% market share, serving Toyota Mirai and Chinese hydrogen trucks.
New energy materials: PVDF capacity expanded to 50,000 tpa (80% battery-grade), binding CATL and EVE; H1 2025 exports +120% YoY.
Fluorosilicone synergy: 30,000 tpa FVMQ capacity, replacing DuPont products in aerospace seals, GM >45%.
Technological edge: Proprietary ion-exchange membrane electrolyzer broke Asahi Kasei monopoly, 25% cheaper than imports.
Tier 2: Segment Champions and Technology Breakthrough Players
1. Do-Fluoride Chemicals (002407.SZ)
Core strengths:
Semiconductor chemicals: Pioneer in domestic substitution with 99.9999% purity electronic HF (ppt-grade), replacing Daikin products for YMTC’s 14nm nodes.
Lithium salts: 25% global market share in LiPF₆, 50,000 tpa LiFSI capacity certified by Panasonic and LG Chem.
Cost control: Integrated chain from fluorspar–HF–electronics; 90% HF self-sufficiency, unit costs 15% below peers.
2025 challenge: LiPF₆ price collapsed to RMB 54,000/t (–90% from peak); must boost premium via LiFSI and DFTFSI upgrades.
2. Sanmei Group (603379.SH)
Core strengths:
Refrigerants: Global leader in HCFC-141b with >50% market share; H1 2025 exports +47% YoY.
New energy pivot: 50,000 tpa PVDF plant launched; high-adhesion battery-grade grades certified by BYD Blade Battery.
Resource integration: Stake in Inner Mongolia fluorspar mine (reserves 2 mt), 60% HF self-sufficiency, costs 20% below outsourced.
Policy boost: R1234yf gained EU F-gas certification; 2025 EU exports expected to exceed RMB 300m.
Tier 3: Emerging Pioneers and Regional Leaders
1. Zhongxin Fluorine Materials (002915.SZ)
Core strengths:
Pharma intermediates: Leader in quinolone antibiotics intermediates with 50% market share, supplying Pfizer and Hengrui, GM >25%.
New energy pivot: 5,000 tpa PEEK launched, Tesla-certified for humanoid robot joints, unit value >RMB 10k.
Resource integration: Inner Mongolia fluorspar mine reserves of 2 mt, 60% HF self-sufficiency, backing high-margin downstream.
Tech reserves: Deploying NaPF₆ (sodium-ion electrolyte), expected to commercialize in 2026, piloted by CATL.
2. Lianchuang Co., Ltd. (300343.SZ)
Core strengths:
PVDF rising star: 30,000 tpa battery-grade PVDF (No.2 in China), supplying Gotion High-Tech and Funeng, with H1 2025 market share rising to 25%.
Fluorocarbon coatings: 20,000 tpa FEVE resins, substituting Nippon Paint in high-speed rail coatings, GM >40%.
Strategic integration: Acquired Shandong Hua’an to complete “HF–PVDF–coatings” chain, hedging feedstock volatility.
Industry Value and Risk Insights
High-potential tracks:
Hydrogen materials: Dongyue’s PEM, Juhua’s HF for fuel cells.
Semiconductors: Do-Fluoride’s electronic HF, Zhongjuxin’s 5nm etching fluids.
Solid-state batteries: Tianci’s LiFSI, Do-Fluoride’s DFTFSI.
Risks:
Price volatility: LiPF₆, PVDF under pressure from oversupply.
Tech substitution: HFO refrigerant patents expiring by 2026 may spark price wars; Sanmei and Yonghe must accelerate upgrades.
More information can be found at CCM Fluorine China Database.
About CCM:
CCM is the leading market intelligence provider for China’s agriculture, chemicals, food & feed and life science markets. Founded in 2001, CCM offers a range of content solutions, from price and trade analysis to industry newsletters and customized market research reports. CCM is a brand of Kcomber Inc.
For more information about CCM, please visit www.cnchemicals.com or get in touch with us directly by emailing econtact@cnchemicals.com or calling +86-20-37616606.