Cosmetic dyes are color additives that are used as coloring agent in various cosmetic products such as facial make-up, nail products, eye make-up, and other type of products. Lip products soluble in the medium in which they are used. According to The Ecological and Toxicological Association of Dyes and Organic Pigments Manufacturers defined dyes as “intensely colored or fluorescent organic substances only, which impart color to a substrate by selective absorption of light. They are soluble and/or go through an application process, which at least temporarily, destroys any crystal structure by absorption, solution, and mechanical retention, or by ionic or covalent chemical bonds”.

Agrochemicals are the chemicals used in the management of agricultural ecosystems and micro-organisms in the farming area. The use of agrochemicals is critical in increasing the crop yield. Agrochemicals include various fertilizers, herbicides, insecticides, fungicides, soil conditioners, and others. Fertilizers are used in the agricultural lands to increase the growth of plants and crop yield. The term agrochemicals may also include synthetic fertilizers, hormones, and other chemical growth agents, as well as concentrated stores of raw animal manure. The global agrochemicals market is segmented into type and region. Based on type, it is categorized into fertilizers and pesticides. Based on fertilizers, the market is bifurcated into synthetic and biofertilizers. Whereas, pesticides are categorized as insecticides, herbicides, fungicides, and other pesticides. Based on region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.

近期受疫情和油价暴跌影响，化工品价格普遍进入下跌通道，然而蛋氨酸却成为 逆势上涨的“少数派”，价格较年初上涨 30%。我们认为这是因为其背后有强大 的供需格局支撑，并且随着供需边际改善，蛋氨酸的强势有望维持。

L 草铵膦浪潮来临，农户草铵膦使用成本将下降，估计市场规模达 10 亿美元，是草铵膦的 4-5 倍，同时 L 草铵膦行业集中度只会更高。

当前国内疫情基本控制，但是下游需求仍未完全恢复，海外疫情持续发 酵，对国内化工品出口产生较大影响。一季度国际油价断崖式下跌，全 球化工品需求不振，国内化工行业库存明显提升，建议重点关注化工下 游刚需和新材料环节的投资机会。