Crude oil and natural gas are the major sources of energy for the automotive industries since many decades. Due to the negative environmental impact by the increasing consumption of crude oil and natural gas worldwide, and high crude oil prices, biofuels, such as bioethanol, are considered as a successful alternative for crude oil and natural gas as a fuel for automotive industries. • Ethanol is the lowest cost octane with octane rating of 113, providing strategies to save lots of money for both manufacturers and consumers. The bioethanol market is directly affected by the consumption of fuel. Since past four decades, ethanol remains as an effective tool to reduce harmful emissions from the automotive. As ethanol is a pure compound with 35% oxygen, it burns more cleanly and completely than petroleum products. Ethanol helps to reduce emissions of air toxics, carbon monoxide, particulate matter, nitrous oxides, and exhaust hydrocarbons, by displacing aromatics in petroleum products.

Sodium Cyanide is used in the manufacture of various chemicals, such as polymers/plastics, cyanuric chloride, and cyanogen chloride. Furthermore, the increasing demand for polymers is also expected to aid the growth of the sodium cyanide market. The chemicals segment does not include the applications of sodium cyanide in agriculture, such as fer tilizers and other agrochemicals. The plastic manufacturing industry is among the fastest growing industries in Africa, owing to its increasing use in packaging consumer goods, PVC, electrical accessories, polyester films, plastic- moulded extruded goods, among many others.

The biggest trend observed in recent years in relation to medical contrast media and injectors across the health care is doing more with less or maximizing the utility of the existing technology. The companies have started shifting rapidly toward integrating the injector systems with automation technology, such as electronic medical records, for automatic record and analysis of contrast dose data and picture archiving and communication systems. The companies, such as Bayer Healthcare, Bracco, Covidien, and Nemoto Kyorindo have established well upon improved sensors, particularly for CT and MRI, followed by dual flow technology, syringeless pressure injectors, power peripherally inserted central catheters (PICCs), and significant involvement of information technology in dedicated hardware and software directly pull the work list and patient data from RIS, PACS, and HIS.

Carbon nanotubes are considered a “supermaterial” with its unique applications that can radically change the face of the world. It is estimated that, currently, only about 50% of carbon nanotube material’s potential is tapped, and with the rapidly growing R&D activities around the world, various technological advancements in carbon nanotubes have been witnessed. Nanotubes have been playing a crucial role in technological advancements in various fields, including medicine, electronics, engineering, and various other applications. However, mass production of nanotubes in a cost-efficient way has always been a challenge. Innovations in developing robust and reliable production methods with proper control and measurement at an atomic scale have surfaced repeatedly. With reduced production time and cost, the nanotubes market have the potential for high growth in the near future.

The number of new tire plants and expansion projects has increased in various parts of the United States with South Carolina getting a high share of investments. South Carolina stood as the number one tire-producing state with an estimated daily production of 103,000 units, due to the expansions by Bridgestone Americas, Continental Tire, and Michelin. The tire market in North America is very competitive with continuous investments from major tire manufacturers. With the US automotive industry showing signs of future growth, the tire manufacturers are investing strategically to establish manufacturing sites close to their consumer locations. In 2017, replacement light truck tire shipments reached a high-water mark. There is a continuing competition for small farm tire market shares. This is a developing market, especially on the radial side.

The microelectronics market grossed USD 463 billion, in 2018. Manufacturers are, thus, experiencing the biggest sales growth since the turn of the millennium. According to World Semiconductor Trade Statistics (WSTS), worldwide, the semiconductor industry was projected to grow at a rate of 15.7% in 2018, to reach USD 477.1 billion. China, being the largest, accounted for more than 32% of global semiconductor sales, in 2018. This is going to create a demand for CVD coatings for microelectronics, of which, semiconductors occupy a major share.  Chemical Vapor Deposition process is the widely used deposition method for the production of high-quality, high-performance, solid materials, mostly under vacuum. CVD is often used in the semiconductor industry for the production of thin films, and goes into various segments, such as smartphones, PC’s, tablets, and other medical electronics.  Metals, such as aluminum, copper, etc., which are used in the manufacturing of microelectronics, are often deposited by CVD methods. Copper CVD is generally used as a substitute in integrated circuits.

Noise pollution adversely affects the lives of millions of people around the world. Problems related to noise include stress-related illnesses, high blood pressure, speech interference, hearing loss, sleep disruption, and lost productivity. Environment Protection Authority (EPA) Victoria plays an important role in protecting the community from noise pollution. It develops policies, regulations, and guidelines for preventing and controlling noise. Noise pollution is regulated by different authorities and levels of government. Under the Clean Air Act, the EPA established the Office of Noise Abatement and Control (ONAC), to further carry out investigations on noise and its effect on public health and welfare. However, in 1981, the administration concluded that noise issues addressing noise pollution shifted to the state and local levels, resulting in the closing of ONAC and noise issues transferring to state and local governments.

Adjuvants are used in agriculture to enha nce t he per forma nce o f t he pesticides, such as insecticides, herbicides, and fungicides. For the purpose of market sizing, utility and activator adjuvants have been covered under the market studied. The market sizing is done at the manufacturer level. China, India, Japan, Australia, Indo nesia, Thailand , Vietnam, South Korea, Malaysia, the Philippines, and Taiwan are considered in the scope of the study.

Coding and marking have remained an integral part of the product/commodity supply chain for years now. The overall technology itself has a crucial role to play in our daily lives, be it from the perspective of businesses, industries, or even consumers. The coding and marking process involves the imprinting of information and data on products and its packaging to enable an efficient track & trace process throughout the supply/distribution chain. This packaging could either be a primary or secondary form of packaging, depending on the product material to be coded. Similarly, the information or the data to be printed can vary as per product category. For instance, the coding and marking of a food item such as fruit cakes can have information such as best before dates and bar codes for tracking it. However, in the case of chemical fertilizers, the information related to the chemical may be highlighted more expansively.

Calcium bromide, zinc bromide, and sodium bromide are the derivatives of bromine, together referred to as clear brine fluids (CBFs). It is used in the oil and gas well drilling industry for solids-free completion, high-density, packer, and workover fluids. Clear brine fluids are majorly used to reduce the damage to the well bore and productive zone. The Clear Brine Fluids (CBFs) are used as drill-in fluids owing to various benefits, such as reducing bore-hole skin damage, reduce mechanical issues with respect to equipment and completion, cost effective and improved permeability, etc. Clear brine fluids are heavier than fresh water and obtained free of solids. Owing to this, it is mainly used in drilling processes. Since, it is a high-density fluids, which helps in preventing the migration of fluids between underground formations through the well bore.

The pest control market is segmented into type, pest type, application, and region. Based on type, the market is classified into chemical, mechanical, biological, and others. Based on pest type, the market is divided into insects, termites, rodents, and others. Based on application, the market is categorized into commercial, residential, agriculture, industrial, and others. Based on region, the market is analyzed across 15 Europe countries, which include Germany, UK, France, Italy, Spain, Netherlands, Switzerland, Poland, Czech Republic, Austria, Belgium, Greece, Slovakia, Portugal, Ireland, and rest of the Europe.

The highest single use of cooling water treatment chemicals is in cleaning water in power generation. For power generation and process facilities, cooling water treatment is often the most critical aspect. Overall, the cooling of various process fluids is directly tied to a plant’s essential operation. By 2030, the global electricity demand is estimated to rise by 75%. Even though the energy generated by renewable sources is proliferating, the scale of electricity produced by renewable sources is too small to satiate the rapidly rising demand. Owing to high levels of economic growth and continuous improvement in the quality of life, the developing countries are expected to see a rapid increase in power demand.

2019 年出口和汽车需求疲软，行业 PPI 持续下行，行业整体景气度低迷，2020 年需求端在三重利好作用下有望复苏：去杠杆周期结束、库存在低位、房地产后周期。供给段下游基础化工受安全环保政策影响，产能投放期拉长，预计2020 年下半年是产能扩张高峰，因此 2020 年只能是产能扩张期中的弱反弹

2019 年 11 月份中信基础化工行业指数下跌 0.87%，在 29 个中信一级行业中排名第 10 位。子行业中，氨纶、涂料油漆和锦纶板块表现居前。主要产品中，11 月份化工品上涨品种数量有所上升，下跌品种数量略有下降。上涨品种中，氩气、丙酮、异丙醇、乙烯、棕榈仁油涨幅居前。12 月份的投资策略建议继续关注优质一体化行业龙头企业以及维生素板块。 

在化工下属 31 个三级子板块中，轮胎板块表现出与化工下行大周期不同的发展节奏，最近 12 个季度大部分上市公司的主营收入保持平稳甚至逐季上升。过去十五年，中国轮胎的快速成长主要是攫取了全球商用车轮胎市场的份额。下一个十五年，在共享汽车情景下，以高性价比产品占领乘用车轮胎市场是中国轮胎企业的确定性成长空间，但只有少数已经布局了海外产能的几家领先企业可以参与分享未来的成长空间。在贸易壁垒保护下的市场中获取高额利润，中国轮胎企业国际化布局的红利仍将持续。我们认为，未来，拥有海外产能布局的轮胎企业将走上持续成长之路，建议关注目前估值较低、成长性确定的轮胎龙头标的！ 

受需求持续低迷，部分子行业扩产冲击，19 年主流化工品价格大幅下跌。前三季度化工行业营收小幅增长，利润下降明显，Q3 单季环比进一步走弱，仅改性塑料、涂料油漆油墨制造、日用化学品、无机盐、轮胎等偏下游子行业增长稳定。

上周基础化工板块上涨 2.3%，沪深 300 指数上涨 1.9%，基础化工板块跑赢大盘0.3 个百分点，涨跌幅居于所有板块第 14 位。涨幅居前：南岭民爆、硅宝科技、宏大爆破、华西股份、天晟新材；跌幅居前：*ST 盐湖、万盛股份、*ST 尤夫、国风塑业、百川股份。 

本篇报告旨在寻找精细化工行业估值已在底部，仅通过业绩增长即能推动市值提升的成长公司。19 年化工行业需求往下，主要是下游行业整体需求低迷，又叠加产品去库存和中美贸易摩擦，所以景气度下行。20 年化工景气度会比2019 年有所改善，化工品整体库存较低、20 年有望逐步进入补库存阶段，化工上市公司经过一年中美贸易摩擦的考验，基本有了应对之策、从边际上看业绩不会受更大影响。精细化工相对于大化工而言，技术壁垒更高、周期性弱；有些细分行业需求较好，有些细分行业集中度提升趋势明显，对于业绩增长确定性大的公司，会有较好的投资机会。

全球经济下行压力显现，需求承压。供给端新一轮扩产产能将陆续投产，行业景气回落。目前部分产品库存处于极低水平，行业估值亦处于历史较低分位。维持行业强于大市评级。判断行业集中度持续提升，龙头企业获得更多市场份额与更高盈利水平。

2019年前三季度，化工上市公司营收3.8万亿，仅同比增长2.43%，相较于去年全年接近21%的增速大幅下滑；2019年前三季度，化工上市公司净利1515亿，同比下滑0.68%，而去年全年行业同比增长接近21%。