全球化工并购的活跃程度一定上反映了整体经济和地缘政治环境的影响趋势。由于2023年交易融资成本居高不下，极具挑战性的收入和盈利环境使许多化工企业在加大投资并购交易方面更加谨慎。

根据卓创资讯数据，截至10月25日，钛白粉10月均价为14819元/吨，较9月均价下降312元/吨。主要由于下游需求疲弱，整体供应依然相对充裕。

氢能(气)是可用于化工、冶金、能源、交通等多领域的“终端原料”，是理想的绿电储能媒介。当前国内氢需求主要来自化工、冶金、石油炼化以及陶瓷、玻璃制备等传统工业领域，供热与动力用氢占比较低。未来5年、甚至更长时间内这一格局仍将保持。

氨基酸是构建蛋白质的基础物质，23 年全球需求超千万吨。我们认为，中长期：①粮食安全背景下，氨基酸替代豆粕需求有望持续增长；②合成生物技术助力小品种氨基酸成本下降和需求扩张；③未来转基因玉米推广或助力氨基酸成本下降，推升氨基酸替代豆粕性价比。短中期：①赖/苏/蛋氨酸等大品种竞争格局优化，支撑产品盈利中枢；②伴随下游养殖领域存栏持续去化，未来猪价有望回升带动存栏恢复，助力氨基酸需求；③当前豆价低位或 抑制植利润，叠加天气等扰动，未来豆粕价格存回升预期助力氨基酸提价；④赖/苏氨酸出口占比高，海外需求亦有支撑。推荐梅花生物/华恒生物。

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.