事件：7 月 31 日，国家统计局发布：6 月中国制造业 PMI 为 50.9%，前值 51.0%；非制造业商务活动指数 53.5%，前值 55.2%。

化工新材料领域是化工行业未来发展的一个重要方向，传统化工行业随着下游需求增速放缓，市占率向龙头集中是大趋势，核心竞争门槛为成本和效率；下游仍处于快速增长的新材料领域则不同，核心的竞争壁垒为研发能力、产业链验证门槛、服务能力等，随着政策支持，国内化工新材料行业有望迎来加速成长期。我们推荐处于核心供应链、研发能力较强、管理优异的化工新材料优质标的，主要包括电子化学品（半导体材料、显示材料、5G 材料等）、新能源材料、医药中间体等领域。

2021Q2 公募基金配置化工行业水平接近近十年最高值，新能源汽车及半导体材料等新材料股票持仓大幅提升，万华化学、华鲁恒升等核心资产重仓市值整体明显下降。2021Q2 公募基金配置化工行业比例环比小幅提升1.1%至6.3%，突破2013 年以来高点，接近近十年最高值。从重仓市值看，加仓前五大标的是恩捷股份、天赐材料、天奈科技、容百科技、星源材质；减仓前五大标的是华鲁恒升、万华化学、光威复材、中国巨石、东方盛虹。从基金持有数量看，公募基金持仓数量前五分别为恩捷股份、万华化学、天赐材料、华鲁恒升、星源材质，基金数量环比增加前五为恩捷股份、天赐材料、星源材质、容百科技、天奈科技。

能源化工领域涉及范围广泛，在上游上受到煤价、油价和气价的影响，中游有诸如成品油、化纤、烯烃、橡胶、聚氨酯、钛白粉、化肥、农药、有机硅、氟化工、维生素、染料，下游消费品轮胎和电子化学品、可降解等下游新材料，涉及产品数千种，时不时有热点产品和标的涌出，同时也有诸多争议。因此，我们开设《行业热点问答系列》来回答大家的关切，报告大致分为两部分，第一部分是本周市场表现出众的赛道，第二部分是对相关赛道的阐述和研究成果展现，因赛道数量或者主逻辑数量来设定章节数量。

国内氟化工龙头如东岳集团、巨化股份、联创股份等已经新建锂电级PVDF 产线，或者可以在改进设备参数后用工业级PVDF 产线转产锂电级PVDF，同时，将充分受益本轮锂电级PVDF 景气周期。

碳中和政策推动能源转型，锂电池及光伏产业发展空间广阔。自2020年中国宣布致力于2030年前实现碳达峰，2060年前实现碳中和的战略目标，一系列碳中和政策出台，推动各行业走向低碳化。实现碳中和战略目标的关键之一为能源系统的转型，由煤炭、石油等化石能源体系转向可再生新能源体系。

Wind 新材料行业指数本周跑输上证综指1.50 个百分点。本周（20210719-20210723，下同）Wind 新材料行业指数上涨0.82%，跑赢上证综指1.50 个百分点，跑赢创业板指3.73 个百分点；截止至2021.7.23，近一年Wind 新材料行业指数累计上涨42.82%，跑赢上证综指32.04 个百分点，跑赢创业板指18.88 个百分点。

Water-borne coatings are based on emulsifying the binders, pigments, and additives with water. Water-borne coatings used water as a solvent to disperse the resins, which are added to create the coatings. They contain up to 80% of water as the solvent and offer a variety of applications, including automobiles, furniture, plastic, wood, and concrete, among others. There are a large number of players in the market, and approximately 10-12 vendors have expanded their business activities in APAC by acquiring or merging with other small vendors in the region. Water-borne coatings provide decorative as well as protective features. The major driving force for water-borne coatings is that they are environmentfriendly and contain less volatile organic compound (VOC) content. Hence, they are widely adopted in various end-user industries. There are various types of waterborne coatings available in the market.

The Hydrogen Free Diamond Like Carbon Coatings DLC market is expected to grow strongly with the growth in the automotive industry, also increasing demand for high temperature coatings is providing huge opportunities for the DLC manufactures. The demand for hydrogen-free DLC is largely used by number of end-use industries due to its rigidity and wear resistance when compared to DLC that is combined with hydrogen. In the automotive sector hydrogen-free, DLC coating combines appropriately with the engine oil, which results in forming strong ultra-thin film when special oil additives are applied. Low friction factor and advanced abrasion resistance are increasing the demand for the DLC market. Manufactures in biomedical and automotive industry are aiming to use hydrogen-free DLC for effective working. Additionally, innovative technologies such as pulsed laser deposition and plasma enhanced CVD are expected to trigger the market for DLC