Antioxidants are additives used during plastic production. They are added to the plastic to eliminate degradation processes caused by thermo-mechanical as well as thermo-oxidative conditions. Antioxidants help in extending the life cycle of plastic, increase color deterioration, offer tensile strength and elongation, reduced impact resistance, cracking, and other surface deterioration. Primary antioxidants and secondary antioxidants are the two major categories of plastic antioxidants, and plastic made from primary type is often combined with secondary to produce thermally stable plastic products. In addition, a combination of primary and secondary antioxidants provides additional processing stability during plastic production.

Various industries prefer PTFE, as it provides an economic solution with excellent chemical resistance. These compounds showcase improved acid resistance and exceptional thermal stability that facilitate excellent performance, even under severe chemical conditions. Fluoropolymers are in demand for their use in several industries, as they possess many desirable qualities. In industrial applications, their exceptional resistance to high temperatures, chemical reaction, corrosion, and stress cracking properties facilitate their use, mostly as films and coatings. Products made with PTFE resins have exceptional resistance to high temperatures, chemical reaction, corrosion, and stress-cracking. The mechanical toughness and electrical and low-friction properties make it the preferred plastic for a host of applications and different processing techniques.

The insulin sensitizing agent segment was the highest contributor to the market, with $1,030.5 million in 2018, and is estimated to reach $1,449.5 million by 2026, at a CAGR of 4.3% during the forecast period. The oral contraceptive segment is estimated to reach $1,235.2 million by 2026, at a CAGR of 5.7%. The insulin sensitizing agent and oral contraceptive segments collectively accounted for around 62.8% market share in 2018, with the former constituting around 35.5% share. The oral contraceptive and antiandrogens segments are expected to witness significant CAGRs of 5.7% and 5.1%, respectively, during the forecast period. The cumulative share of these two segments was 43.8% in 2018, and is anticipated to reach 46.4% by 2026.

The market studied is expected to grow significantly in the future, majorly driven by the expansion of polymers resin production. Polyolefins are widely used in for applications, such as injection molding, blow molding, etc., across various end-user industries, including electrical and electronics, automotive, construction, medical, and consumer. The market studied is significantly influenced by rising trends in the automotive industry, such as lower emissions, increasing demand for light vehicles, fuel efficiency, and other factors. In addition to this, the rising number of electrical vehicles around the world, particularly in the Asia-Pacific region, has boosted the demand for polymer resins. The demand for packaged products has also increased in recent times, which is further propelling the demand for polyolefins. The increased use of plastics as a substitute for glass and metal products, development of new products, and increased sophistication in plastic processing methods are some of the major factors that have led to the expansion of polymer and resin production in these industries.

本分析定义的在线旅游预订市场指在线旅游服务提供商通过互联网或呼叫中心，以线上或线下多种支付形式，为用户提供交通、住宿、度假旅游等产品的综合信息检索、咨询与预订服务，从而形成的市场。本分析中的在线旅游市场包括在线交通、在线住宿、在线度假旅游三个细分市场。

二次元文化在中国市场上经历了规模性爆发式增长，随着年轻一代消费用户的成长，动漫等相关产业影响力也获得不断提升。 “十三五”规划中对于动漫相关产业发展的规划鼓励，显示出其已成为未来中国市场重要的文化产业之一。随着一批互联网平台及企业的快速发展，以及多边政策的优化扶持，互联网漫画市场拥有较大的市场空间。

分析范畴划定：本分析内容主要针对中国互联网教育行业进行分析，分析中的互联网教育是指以互联网为媒介和手段，提供的各类教育培训。

VLCC 即期运价报27.9 万美元（3/13），周上涨728%，逼近三十年最高水平，超级油轮超强弹性显现，同时推动Q1 均值已经达到7万美元，显著超过2.8 万美元的保本点。我们在18 年8 月提出的新一轮景气周期自18Q4 开启，已充分印证。超强运价背后：多重因素共振。其一是产油国意图增产，3 月6 日OPEC+减产协议失败后，沙特表示将自4 月起加大原油产量，假设按照日均超过1200 万桶的产量，较2 月增速约25%。其二是原油期货出现升水结构，原油价格暴跌导致远期升水，为租用VLCC 进行储油套利带来空间。其三预计低油价或带来原油消费国加大进口储备的意愿。

回顾上月的行情，军工板块跑赢上证综指及创业板。2 月11 日至3 月11日收盘，国防军工板块指数涨10.26%，上证综指涨2.30%，创业板指数涨3.60%。如果看年初至今的板块涨幅排名，军工板块涨幅为10.09%，在所有板块中继通信、计算机、电子之后排名第四。我们认为主要原因是市场对于板块在经历军改和军代表制度改革后的业绩预期开始好转，对于军工板块业绩兑现的信心开始恢复。

宏观经济及中游制造业承压情况下，轨道交通建设逆周期调节作用凸显。我们判断全年随新基建拉动投资预期逐渐释放，全年轨交投资额大概率重回8000 亿元高位。同时随轨交通车里程基数增加，未来几年有望打开轨交存量市场。