Chemours is a global specialty chemicals company spun out of DuPont in 2015. It operates three segments: Thermal & Specialized Solutions (TSS), Titanium Technologies (TT), and Advanced Performance Materials (APM). TSS makes fluorochemical refrigerants, with its flagship Opteon line of low-GWP HFO refrigerants used in residential, commercial, and automotive A/C, refrigeration, and data center cooling. Opteon is displacing legacy HFC refrigerants (sold under the Freon brand) under regulatory mandates like the U.S. AIM Act and EU F-Gas Directive, driving strong margin expansion in TSS. TT produces TiO2 white pigment, sold under the Ti-Pure brand, primarily for paints and coatings. TT is the largest segment by revenue but operates in a commodity-like market facing excess global capacity and soft pricing. APM makes high-performance fluoropolymers and specialty materials under brands including Teflon, Viton, Nafion, and Krytox, serving semiconductors, electronics, aerospace, automotive, and clean energy applications. Chemours makes money by manufacturing these chemicals and selling them at a spread above raw material and production costs. TSS margins are driven by the regulatory-mandated shift toward premium-priced Opteon; TT margins are driven by the TiO2 pricing cycle and plant utilization; and APM margins depend on product mix, with high-purity semiconductor and clean energy materials commanding premiums over more commoditized industrial products. Chemours serves roughly 2,400 customers across 110 countries and carries significant legacy PFAS liabilities inherited from DuPont.