The compound semiconductors market holds a substantial scope for growth in the global market. Currently, it is in its growing stage; however, its contribution to the global market is expected to witness significant growth within the next six years. High cost associated with compound semiconductor wafer manufacturing is a major limitation for the market growth. However, recent innovations, which implant high efficiency and innovative features in smart devices, have enabled the technology to reach a wider audience base. Numerous players are entering the compound semiconductors market with innovative products. Emerging development in IoT and growth of autonomous products are expected to drive the market growth in the future.

This report provides comprehensive analyses of the types of CNTs available in the market, such as SWCNT and MWCNT, along with current market trends and future growth potential. It focuses on the application areas of CNTs such as structural polymer composites, conductive polymer composites, conductive adhesives, fire retardant plastics, metal matrix composites, Li-ion battery electrodes, and others, including rubber tire reinforcement. It includes the analysis of CNTs across end-user industries such as electricals & electronics, aerospace & defense, energy, sporting goods, automotive, industrial, and others, including healthcare & life science and personal care. Moreover, the report analyzes the current market trends of the carbon nanotubes market across different regions and forecasts the opportunities in the market by analyzing government regulations, policies, and consumer preferences across various geographic regions.

Electron beam physical vapor deposition (EB-PVD) coatings are formed by a thin film deposition technique called as electron beam physical vapor deposition (electron beam evaporation). It is one of the thermal evaporation processes where electrons evaporate the coating material and cause it to deposit on the substrate. On contact with the substrate, the evaporant condenses and forms thin film on the substrate. Coating produced by EB-PVD process is in the scale of microns (μm). Coating can be single layer or multi-layered as per the properties required in the substrate. EB-PVD coatings mainly function as a thermal barrier coating (TBC) for high temperature environments such as in turbine blades and automotive engine components. Moreover, EB-PVD coatings improve the optical properties of optical lenses and enhance corrosion resistance of medical devices and biomedical implants.

Armor materials, used as protective clothing, play a significant role in protection of vehicle, army personnel, and aircrafts. The report focuses on armor materials and its major applications including vehicle, aerospace, and body armors. It analyzes the current market trends of armor materials, and related products in different geographies and suggests the future growth opportunities for key market players. In addition, it highlights numerous factors that influence the growth of the global market such as key drivers, restraints, growth opportunities, and the role of different key players. Market segmentation based on material types of armor materials such as metals and alloys, composite, ceramics, and fiberglass is also included, along with the quantitative data in terms of both value and volume.

The epitaxial wafer market for compound semiconductor holds a substantial scope for growth in the global market. Currently, it is in its growing stage, however, its contribution to the global market is expected to witness significant growth within the next six years. High cost associated with wafer manufacturing is a major limitation for market growth. However, recent innovations, which embed high efficiency and innovative features in smart devices, have enabled the technology to reach a wider audience base. Numerous players are entering the epitaxial wafer market for compound semiconductor with innovative products. Emerging development in IoT and growth of autonomous products are expected to drive the market growth in the future. The scope of the report discusses the potential opportunities for the market players to enter the global epitaxial wafer market for compound semiconductor. This report also provides in-depth analysis of the market, outlining current trends, key driving factors, and key area of investment. The report includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder in the value chain. It features the strategies adopted by the key market players to maintain their foothold in the market.

美妆线上高景气度趋势不变，双十一国货新锐品牌及部分传统国货品牌依托灵活营销策略及以用户为中心的选品策略获得高速增长，展现出品牌实力。我们看好国货品牌在电商新环境下把握流量变化趋势，保持进攻态势，获得份额提升，建议关注珀莱雅、上海家化、御家汇。

2020 年11 月淘系平台化妆品类（美容护肤+彩妆）成交额合计580.35亿元，同比增长33.66%。其中美容护肤类成交额448.81 亿元，同比增长35.88%；彩妆类成交额为131.54 亿元，同比增长26.59%。

顺周期景气向上，行业盈利逐季改善 随着疫情有效控制，化工行业 下游主要产业逐渐回暖，带来化工品需求改善，行业盈利逐季向上修 复。即使扣除中国石化转让管网资产影响，20Q3 归母净利环比增速仍 高达 60%。综合判断地产（竣工面积）、汽车、家电、纺服在 2021 年 将实现恢复性正增长，存在结构性投资机会。考虑到化工行业整体呈 现传统产能过剩、新兴产能不足的局面，我们认为，未来行业的竞争 主要体现在成本之争、成长之争。

疫情短暂冲击国内经济，化工行业景气先抑后扬。2020 年1 季度，受到疫情冲击影响，我国宏观经济出现较大幅度下滑，Q1 GDP 增速为-6.8%，比2019 年Q1 下降13.2 个百分点，为30 年以来的增速最低值；随着疫情得到有效管控，经济开始企稳复苏，前三季度GDP 实现正增长。受此影响化工行业景气先抑后扬，整个基础化工行业上市公司前三季度实现营业收入同比-18.36%，归母净利润同比-16.26%；其中第三季度净利润大幅改善，同比+104.34%。

2020 年化工后来居上，跑赢大盘：2020 年A股化工行业起伏较大，上半年受到疫情影响，国际油价大幅下跌，拖累整个板块下行，5 月份开始随着国际油价的上行，化工指数开始超过年初水平。进入三季度，随着下游行业的回暖和产品价格的回升，机构资金开始追逐化工板块，因此三季度以来化工指数后来居上，开始大幅跑赢沪深300 指数。

2021 年将是新一轮库存周期的开端。2020 年受疫情影响，内需外需先抑后扬，行业景气度在Q3 企稳反弹。微观上，环氧丙烷、MDI、有机硅中间体DMC、PA66 等价格出现大幅上涨，也表明需求出现边际改善。

中国化工品价格指数（ 中国化工品价格指数（ CCPI）： 本周 CCPI较上周继续 下跌 0.7%，较上月 ，较上月同期上涨 6.3%，年内增速 为 4.5%，较去年同期上涨 3.9%。

展望2021年，根据中金宏观团队的研究，年初新冠疫苗有望落地，保需求的政策效力有望逐步体现，全球经济可能呈现共振复苏态势。我们预计，化工行业景气度有望在国内国际双循环的驱动下持续提升.化工产业的新格局愈加清晰:预计十四五期间产业链上下游协同保障国内供应与自主创新培育高质量产品的能力有望持续加强，具备良好格局的化工龙头公司盈利有望长期成长。继续看好景气趋势上行与内生增长强劲的万华化学、扬农化工、龙蟒佰利、奥克股份;以及行业景气触底回升的华鲁恒升、合盛硅业、华峰氨纶。

环氧丙烷原料路线多样，应用领域丰富。目前国内主流工艺包括氯醇法、共 氧化法（PO/SM法、PO/TBA法、CHP法）以及HPPO直接氧化法，下游应用主要为聚 醚多元醇、碳酸二甲酯、丙二醇及其衍生物等。

2021 年整体进入防御性投资思路，降低预期寻找确定性更强的增长方向。周期板块看好确定性更强的复苏与涨价方向；新材料板块看好确定性更强的需求增长业绩释放方向。同时站在更长远的视角看，我们认为当前亦需关注化工企业转型升级的可能性。

2020 年上半年在新冠疫情影响下，内外需不振，原油价格快速下跌，带动化工品价格 整体下跌，因而行业收入、利润均出现大幅下滑。随着国内疫情得到有效控制，海外逐 步复工复产，下游需求逐步好转，原油价格快速反弹，带动化工品价格指数走出“深 V” 走势；基础化工经营显著改善，Q3 以来行业收入及利润的累计同比跌幅逐月收窄。目 前原油价格和化工品价格指数仍位于历史较低水平，随着全球经济的持续回暖，2021 年 化工产品价格和行业盈利有望继续上行。

今年上半年由于疫情和油价双重冲击，下游需求低迷导致行业库存水平整体处于较高水平。经过Q2-Q3 国内需求的稳步恢复，行业库存水平已经明显下降，进入被动去库存阶段。当前随着国内地产基建、家电、汽车、纺服、农业等主要下游的需求复苏，以及全球疫情有望进入可控阶段，海内外需求有望共振，行业将迎来景气上行周期。