PVDF 全称聚偏氟乙烯，下游主要应用于光伏背板、氟碳涂料、锂电池粘结剂及隔膜等领域。粘结剂是锂电池关键辅材，对电极
以及电池容量、循环寿命等性能有重要影响。PVDF 有较高的电化学稳定性、热稳定性和良好的电解液亲和性等优势，一般搭配
NMP（N-甲基吡咯烷酮）溶剂使用，在三元材料以及正极应用占比极高。另外，PVDF 具有较强的极性和高介电常数，用作锂电隔膜可大幅提升隔膜的亲液性，并有助于锂盐的离子化；也可用作隔膜涂层，能大幅度提高电池的耐高温性能和安全性。

2021 年6 月30 日，统计局公布了PMI 数据，6 月中国制造业采购经理指数（PMI）为50.9，较上月回落0.1 个百分点。

6 月三项PMI 指数全部回落，预示经济扩展放缓。2021 年6 月制造业PMI 为50.9%，比上月小幅下降0.1 个百分点，已经连续3 个月下降；非制造业PMI 为53.5%，比上月明显下降1.7 个百分点；综合PMI 为52.9%，比上月下降1.3 个百分点，为近5 个月低点。6 月三项PMI 指数全部下降，反映经济复苏势头出现放缓。

我国PVC 生产以电石法工艺为主，电石生产过程高能耗、高污染特性导致新项目审批难度急剧加大，预计未来我国氯碱行业新增产能将面临较强能耗及环保政策约束。氧化铝等需求推动，烧碱行业景气有望上行。推荐具备上游电石资源配套的氯碱行业龙头中泰化学、新疆天业、湖北宜化，建议关注业绩弹性较大的新金路、英力特。

化工行业于 2020 年年中开启景气上行走势，2021 年上半年延续上行走势，大幅跑赢沪深 300 指数。展望下半年，需求端，随着全球各大经济体疫情得到控制，全球经济将进一步复苏，利好出口较多的公司；供给端，短期行业产能有所增加，但供给增加主要来自龙头企业，龙头集中度持续提升，长期随着碳达峰碳中和推进，化工供给增加将受到严格限制；成本方面，上游原材料从普涨转变为结构性上涨，产业链下游的成本压力有望降低；市场关注度方面，公募基金化工持仓从2020 年 Q1 的 2.5%提升至 2021 年 Q1 的 5.9%，预计化工持仓还有望进一步上升。展望下半年，化工行业投资机会预计将以多且散的局面呈现，我们主要推荐低估值、高成长的优质细分龙头。

Bioadhesives are defined as naturally occurring polymeric materials, which possess adhesive characteristics and can adhere to biological surfaces. This substance includes glues created by using biological intermediates such as starch, cellulose, or gelatin. With the growing popularity of bioadhesives, owing to their environmentfriendly nature, they are preferred over synthetic adhesives. These adhesives find their application in several end-use industries such as wood, packaging & paper, construction, and medical industries.

根据百川资讯，2016-2020 年，我国纯碱产能中枢保持在3000 万吨左右，产量中枢保持在2500 万吨左右。2020 年，受新冠疫情影响，我国纯碱消费量下滑，同比减少5.76%，但总体看仍保持在2400 万吨左右。在进出口方面，海外天然碱产能释放导致我国纯碱净出口减少。2016-2020 年，我国纯碱出口量从197.92万吨下降至137.83 万吨，进口量从13.46 万吨上升至35.62 万吨。

Coating additives are the fundamental components of coating raw materials that are used for the formulation of paints and coating materials. They are added in small quantities to a coating material to enhance their features during manufacturing, storage, transport, and application. The number of additives in a coating formulation is rarely more than 5% by weight. The average proportion of a single additive in a formulation is usually around 1.6% of the total quantity of the coating formulation. The fundamental purpose of using additives in a coating formulation is to enhance the characteristic properties imparted by the main components of the coating material, namely the binder, pigment, and solvent. Coating additives improve the dispersion of solids, wetting, foam-reduction, anti-whittling, and UV protection. It plays a major role in giving an aesthetic and glossy appeal to the material and prevents surfaces from dents, UV, scratch, corrosion, and rusting of metallic parts of tanks, radiators, fences, and metal furniture.

The earth’s atmosphere has an abundance of components that play a key role in geological processes and other chemical reactions. The most abundant components on the planet include hydrogen, nitrogen, and oxygen. Hydrogen is the third most abundant component after silicon and oxygen and plays an essential role in the sustainability of life on the planet. Hydrogen is used as a reagent in several industrial sectors such as chemicals, electronics, metallurgy, and textile fiber manufacturing. Also, hydrogen is known to have the lowest impact on the environment and is used in power generation and transportation applications. Hydrogen is the most efficient energy carrier and can be obtained from different raw materials, such as water, natural gas, methane, or biomass. Hydrogen can be extracted from either of these raw materials using electrolysis or the steam methane reforming process. Approximately 4% of all hydrogen manufactured worldwide is extracted through the water electrolysis process.