Nitrocellulose is a highly flammable compound made from cellulose, nitric acid, or other heavy nitrate compounds. Nitrocellulose is referred to as guncottons when used as a low-command explosive or propellant. If cellulose is not completely nitrated, it can also be used as a plastic film as well as in wooden coatings and ink printing. Over the next six years, the global demand for nitrocellulose is expected to develop due to a range of applications, including explosives, printing tins, wood coatings, and plastic films.

Lithopone, also known as white pigment 5, is a white crystalline powder produced by grinding, drying, and powdering the calcined precipitate of barium sulphate and zinc sulfide resulting from the addition of a solution of barium sulfide to an equivalent solution of zinc sulphate. It is majorly used as a white pigment in paint and plastic formulations. Some of the commercial grades of lithopone are based on the composition of zinc sulfide. It includes 28% lithopone, 30% lithopone, and 60% lithopone. In addition, lithopone is available under model numbers such as B301 and B311.

Electrolyzer is a device system that is used for electrolysis of water. In electrolyzer, water is split into hydrogen and oxygen by using electricity. Different processes are used for electrolysis such as alkaline method, proton exchange membrane (PEM), and solid oxide electrolysis method. The hydrogen obtained from electrolysis is 99.99% pure and stored in either gas form or liquid form. It is used in making fuel cells that are equipped in electric vehicles.

海外化工巨头新材料业务增长放缓，逐步剥离低效非核心资产，近三年海外化工巨头新材料业务收入呈下滑趋势或增速放缓，我们认为海外巨头的退出将是国内化工企业进入相关市场的契机，潜 在的剥离业务部门也是国内企业资本运作的目标。中国制造崛起亟需新材料配套，碳中和推动传统化工转型升级，国产新材料的发展由国家政策驱动进入供需共振的新阶段。化工龙头继续突破大体量高壁垒材料，电子化学品催生隐形冠军。

. 化工板块 2020 全年业绩表现优异，2021Q1 高景气趋势有望持续。深度复盘 2009 年-2012 年和 2016 年-2018 年两轮化工上行周期，我们认为化工周期在供需共振下将延续此前的上涨趋势。长期角度来看，碳达峰和碳中和或将推动新一轮化工行业的供给侧改革。

Chlorine dioxide is a small, volatile, and very strong molecule consisting one chlorine atom and two oxygen atoms. It is abbreviated as ClO2 and exists as a free-radical in dilute solutions. It is also used as alternative to chlorine in water treatment solutions and offers the benefits of effectiveness at high pH, being unaffected by ammonia, and significant advantages over chlorine in systems susceptible to high levels of organic contaminants. It is a selective oxidizer and hence, its ability to control microorganisms in water at very low dosages makes it a cost-effective solution.

Agrochemicals are the chemicals used in the management of agricultural ecosystems and micro-organisms in the farming area. The use of agrochemicals is critical in increasing the crop yield. Agrochemicals include various fertilizers, herbicides, insecticides, fungicides, soil conditioners, and others. Fertilizers are used in the agricultural lands to increase the growth of plants and crop yield. The term agrochemicals may also include synthetic fertilizers, hormones, and other chemical growth agents, as well as concentrated stores of raw animal manure.

Infectious diseases are the leading cause of global morbidity and mortality. Healthcare facilities across the world are at significant risk of cross-contamination, which can lead to hospital-associated infections (HAIs) in patients. The Centers for Disease Control and Prevention (CDC) estimated that around four million patients acquire HAI annually, which leads to around 40,000 cases of mortality in patients. However, several advancements in surface treating technologies can be helpful in reducing patient exposure to harmful microorganisms. Surfaces of medical devices coated with antimicrobial substances have shown promising outcomes in reducing HAIs.

美国是全球最大，也是利润最丰厚的市场，全球的轮胎品牌都在美国这个成熟的市场中进行竞争，美国市场的现状很大程度反映了轮胎品牌的竞争力。从品牌市占率来看，在北美，占据配套轮胎市场霸主地位的，自然是北美自主轮胎品牌的霸主——固特异。除此以外，基本反映了全球轮胎的主要排行情况。在替换市场呈现出类似的格局，但值得注意的是，在乘用车替换市场，中国的轮胎品牌森麒麟、赛轮都占据1%以上份额；在轻卡市场，赛轮占据了1%的份额；在重卡市场，双钱、风神、三角、赛轮、中策占据了1%以上的份额。在美国市场，中国的龙头轮胎企业已经获得了一定的品牌认可，崭露头角。