The Indian construction chemicals market follows a slightly different trend than that of the global market. Due to the lack of awareness about the long-term benefits of construction chemicals, the demand for chemicals, such as concrete admixtures, adhesives, sealants, and waterproofing, which have immediate tangible effects, is high. Other product types are also expected to grow over the forecast period, however, the dominance of the product type that is currently leading the market studied is expected to remain same over the years.

The construction industry is the major driver for the paints & coatings industry in India. Increasing residential and commercial building construction activities in the country are driving the demand for architectural coatings in the country. In India, the construction industry consists of real estate and urban development segments. The real estate segment consists of residential, hotels, office, retail, and leisure parks, among others. Meanwhile, the urban development segment consists of sub-segments, including sanitation, urban transport, water supply, schools, and healthcare.

At Mordor, we continuously strive to pool in industry experts across the value chain, to gather first-hand insights on the market studied. In addition to this knowledgeable industry, veterans or retired experts, consultants, and freelancers are a call away to collaborate with Mordor on any assignment that requires real- time industry insights. Also, we are capable of conducting market surveys to gather qualitative insights and opinion of a group of individuals related to the industry.

The industry value chain, ranging from oil to plastic products, is becoming increasingly complex, as many countries are setting up stringent quality standards concerning the commercial use of plastics. The value chain is initiated by raw material suppliers, who supply petrochemicals and chemical feedstock, along with the additives required to make fluoropolymer resins. The raw materials undergo various steps of processing. The next process includes compounding of the aforementioned resins. The resin manufacturers supply these resins to plastic compounders, who prepare plastic formulations by mixing and blending polymers and additives into process-ready pellets, which are then sent for conversion (preparation of plastic products).

已成为细分行业世界级龙头且正进行大额资本开支，拥有丰富研发管线的万华化学，关注新和成；工程掌控力强，自有园区优化至极致而具备强成本竞争力，发展进路稳健的华鲁恒升；已成为数个农药原药大单品领域龙头，并有望在巴西转基因作物持续推广、321 事故后江苏园区重启建设下恢复高速发展通道的扬农化工。

原材料价格下滑：受益2016 年H2 以来的环保供给侧改革、落后产能退出，叠加油价底部回升，制造业PMI 指数在2018 年5 月前还保持较高位置，不少大宗周期品价格暴涨，催化化工行业营收及盈利水平大幅提升。但2018年下半年以来，PMI 呈下降趋势，内部需求疲软，零售、汽车、空调等消费数据下滑，叠加外部中美贸易摩擦扰动，我国面临经济周期和金融周期双下行挑战，新动能不足。

公司专注于蜂窝陶瓷技术的研发和应用。公司成立于2009年，自成立以来即专注于蜂窝陶瓷技术的研发和应用，并延伸和深化蜂窝陶瓷技术的应用领域，产品从节能蓄热体开始，持续向技术和工艺要求更高、更严格的内燃机尾气处理催化剂载体领域拓展。（注：公司详细内容请参见我们于2019 年5 月16 日发布的报告《科创板电子设备系列之奥福环保》）。

我们预计基础化工行业上市公司的三季度的利润增速区间为（-17%~-15%），季度环比略有改善。根据最新的国家统计局8 月份数据，化工行业四大板块中橡胶和塑料制品行业的利润同比（+11.7%）仍保持了较好的增长，化学原料及化学制品制造业（-13.1%）的利润同比与上半年的增速略有改善，而化学纤维行业（-30.1%）和石油煤炭及其他燃料加工业（-53.1%）的利润同比仍有较大幅度的下滑。

The acceptance of sexual lubricants among women is increasing worldwide in recent years. There are many factors driving such acceptance and thereby, the demand for sexual lubricants. One of the major reasons is the lack of natural lubrication during sexual intercourse, which leads to vaginal dryness and causes irritation and itching. Vaginal dryness can occur owing to the following reasons: