2024年上半年化工行业经营逐步向好，利润环比改善明显，在海外化工企业处于原料物流成本高企、停产事 件频发的环境下，我国全产业链化工品的经营优势不断凸显，在全球的市场份额持续提高。受益于国内经济 活动持续恢复以及海外市场需求提升，维持化工行业“推荐”评级。

Dimethyl ether is sourced from different resources such as natural gas, coal, and bio-based products. The expanding research for dimethyl ether as an alternative fuel option will likely create lucrative opportunities for the market during the forecast period. After the easing of lockdowns, the LPG fuel blending industry picked up, and the demand has risen globally.

Dimethyl ether is sourced from different resources such as natural gas, coal, and bio-based products. The expanding research for dimethyl ether as an alternative fuel option will likely create lucrative opportunities for the market during the forecast period. After the easing of lockdowns, the LPG fuel blending industry picked up, and the demand has risen globally. Global countries such as China, India, South Africa, Brazil, and Germany are aggressively shifting to use dimethyl ether as an alternate fuel, as these countries are highly dependent on imports to fulfill their local LPG demand. The growing demand for the LPG blending application is expected to propel the market's growth. However, the heightened costs of changing the current infrastructure to use dimethyl ether may restrain market growth. Thus, the demand for alternative fuel options such as dimethyl ether-based products in LPG blending industries is offering immense growth potential to the dimethyl ether market over the forecast period.

Water-soluble films (also known as PVA/PVOH films) are emerging innovative downstream products of the polyvinyl resin value chain, derived from polyvinyl alcohol resin through extrusion or cast film methods.

The global bioanalytical testing services market is estimated to grow at a CAGR of 10.2% from 2022 to 2030. Key factors driving the market growth are increasing outsourcing of R&D activities by pharmaceutical companies and high demand for analytical testing of biosimilars and biologics. However, the challenges in development and validation of bioanalytical methods hinders the market growth.

Ultra High-performance Concrete (UHPC) is also known as reactive powder concrete (RPC). It is typically formulated by combining supplementary cementitious materials, Portland cement, reactive powders, limestone and or quartz flour, fine sand, high-range water reducers, and water. The Ultra High-Performance Concrete (UHPC) offers better compressive strength than other concrete materials. The minimum specified compressive strength of UHPC is 17,000 pounds per square inch (120 MPa), and the maximum specified compressive strength is 29,000 pounds per square inch (psi) (200 Mpa).

Dimethyl ether is sourced from different resources such as natural gas, coal, and bio-based products. The expanding research for dimethyl ether as an alternative fuel option will likely create lucrative opportunities for the market during the forecast period. After the easing of lockdowns, the LPG fuel blending industry picked up, and the demand has risen globally. Global countries such as China, India, South Africa, Brazil, and Germany are aggressively shifting to use dimethyl ether as an alternate fuel, as these countries are highly dependent on imports to fulfill their local LPG demand. The growing demand for the LPG blending application is expected to propel the market's growth. However, the heightened costs of changing the current infrastructure to use dimethyl ether may restrain market growth. Thus, the demand for alternative fuel options such as dimethyl ether-based products in LPG blending industries is offering immense growth potential to the dimethyl ether market over the forecast period.

Cellular glass is a lightweight and rigid insulating material made primarily from recycled glass. It is produced in the form of rigid boards, blocks, or granules, and it is widely used primarily for its excellent thermal insulating properties and resistance to moisture and fire.

Adhesive is a substance particularly used to bond two surfaces together. Adhesives have strong shear and tensile strength, making them viable bonding materials for high-pressure situations. There are two general types of adhesives i.e. structural and non-structural. Sealants are paste-like substances that block the flow of fluids through a surface, gap or joint by filling all the spaces between two separate substrates. Sealants usually consists of elastomer, which gives them a paste-like consistency. Examples of sealants can be acrylic systems, silicones, and urethane. Adhesives and sealants are applicable for bonding a wide range of materials, including plastics, metals, ceramics, and composites. Adhesives and sealants are highly preferred in packaging, construction, and automotive industry.

Adhesive is a substance particularly used to bond two surfaces together. Adhesives have strong shear and tensile strength, making them viable bonding materials for high-pressure situations. There are two general types of adhesives i.e. structural and non-structural. Sealants are paste-like substances that block the flow of fluids through a surface, gap or joint by filling all the spaces between two separate substrates. Sealants usually consists of elastomer, which gives them a paste-like consistency. Examples of sealants can be acrylic systems, silicones, and urethane. Adhesives and sealants are applicable for bonding a wide range of materials, including plastics, metals, ceramics, and composites. Adhesives and sealants are highly preferred in packaging, construction, and automotive industry.

Biosurfactants are known as surface-active compounds that can be synthesized by a selected number of natural and biobased sources. Biosurfactants are popular for their biodegradability and low eco-toxicity. Besides biodegradability, low toxicity & high production potential, biosurfactants have a high surface and interfacial activity. Biosurfactants are commercially produced from natural sources such as vegetable oil, glycerol and glucose by the addition of a non-pathogenic microorganisms. Biosurfactants are extracted from natural sources and are also expected to be an alternative to petrochemicals.

根据天合元氢微信公众号，天合元氢与西班牙 Arbro 集团、韦尔瓦市政府达成 160MW 绿氢项目的战略合作：该项目计划于 2025 年底开工建设，生产的绿氢提供给当地化工业，最终以绿醇和绿氨的形式通过韦尔瓦港口出口欧洲。同时，各方就未来天合元氢产能落户韦尔瓦达成战略合作意向。双方将尽快开展进一步调研分析，为欧洲氢能的发展增添中国元素。本项目也有望成为国内企业在欧洲落地的首个氢能项目。

近期逆全球化趋势强化，欧美或对中国再加关税。这可能导致企业间分化，化工龙头各显其能 成功出海，逆势崛起；尾部竞争力较弱的企业竞争加剧，产能出清。终局可能是龙头的份额扩 大，强者愈强，马太效应。我们看好各产业链龙头企业，如万华化学、龙佰集团、梅花生物、 阜丰集团、赛轮轮胎、森麒麟、玲珑轮胎、贵州轮胎、通用股份、金禾实业等。