The objective of this research is to conduct an analysis of the key applications for SAP. It presents an assessment of the current status and future prospects for SAPs, primarily in hygiene applications, namely baby diapers, adult incontinence, and feminine hygiene. While the COVID-19 pandemic situation adversely impacted the disposable hygiene product demand in 2020, the evolving demographic trends, aging population, digitization, rise of private brands, and proliferation of eCommerce are other factors that are expected to have a marked impact on the disposable hygiene and superabsorbent polymer markets. 

Powder coating technology was introduced in the 1940s. In the powder coating technique, the metal product was coated with dry powder instead of conventional liquid paints. By the late 1950s, powder coatings were used to coat pipes to protect the metal from corrosion and used in electric motor parts for insulation. They were also flame sprayed onto the metal substrate. The most common method for the application of powder coatings was the fluidized bed process, in which the heated parts were dipped into wet powder and fluidized by air. These particles of powder come in contact with heated metal parts and form a smooth layer on the metal substrate.

The global paints and coatings industry is mature and generates stable revenue for the world economy. Manufacturers are adopting or developing new technologies to produce paints and coatings with less volatile organic compounds. The paints and coatings market is fragmented due to the presence of a large number of manufacturers across regions. Around 10-12 large multinational manufacturers have expanded their operations to countries such as India and China. The production and consumption of paints and coatings are the largest in the APAC region. The demand is high from countries such as China and India. The coatings market grows in tandem with the economy; thus, the market is expected to witness growth in developing economies. Coatings are mainly applied on substrates for protection and decoration purposes. Smart coating is a significant segment of the paints and coatings industry. They are anti-corrosive, self-healing, anti-icing, hydrophobic, antimicrobial, and self-cleaning. Therefore, they are widely used in automotive, construction, marine, healthcare, and various other end-use industries.

世界化工看中国、中国化工看山东。山东省是资深的化工大省，根据中国化工报，1992 年山东化工产值首次超过江苏摘得“中国化工第一大省”桂冠。自此之后，山东化工经济总量连续28 年位居全国榜首，2019 年山东省内化工行业资产占比达13%。从供应端看，山东省化工品产量占全国比重高，集中在氯碱、塑料、化肥等传统行业。从需求端看，山东是家电、汽车、纱布制造强省，这些也是化工产品的主要下游，山东化工行业有天然的市场优势。

当前沙特为主导的OPEC+话语权增加；全球范围内上游开发投入不足；美国页岩油对于产量的克制等因素带动油价上行。但是考虑到通胀背景下美国及OPEC+放松减产的可能，以及“碳中和”背景下，石油用于交通用途的需求长期压制，预计整体上涨空间有限，长期有望在60-80美元/桶震荡。

本月上证综指、深证成指、沪深300 分别涨4.43%、涨2.94%、涨3.01%，化妆品板块涨3.52%，跑赢沪深300 0.51PCT。板块对比来看，化妆品处行业中游。个股方面，拉芳家化、丸美股份、壹网壹创涨幅居前。水羊股份、名臣健康、青松股份等跌幅居前。

疫情影响渐弱，化工品下游需求修复，行业迎景气。2020年上半年，全球 经济受疫情冲击大幅下滑；随后全球逐步复工复产，海外各国颁布强有力 的财政与货币政策刺激经济。在需求拉动下，国内化工行业进入景气复苏， 多个化工品价格与价差自历史底部区域上涨至景气区间。2020年下半年 以来，化工企业营收、利润同比大幅增长。