上周A股水泥上涨4.0%（跑赢沪深3003.7ppt），其中金隅+15.4%，冀东+5.3%，海螺-2.7%，华新+4.6%；H股海螺-0.9%，华润+0.0%，中建材+0.4%，金隅+2.5%。A股钢铁上涨3.0%（跑输大盘2.2ppt），宝钢+3.1%，鞍钢+4.3%，马钢+3.2%；H股马钢+2.3%，鞍钢+1.9%。

本周申万建材指数下跌0.53%，非金属建材板块各子行业中，玻纤上涨0.69%，玻璃制造下跌4.72%，水泥制造上涨0.47%，管材上涨1.45%，耐火材料下跌1.19%，同期上证指数下跌0.58%。

截至到目前，龙头水泥公司年报基本都已披露完毕，对比这些龙头公司的经营数据，我们能够发现行业的一些“隐藏信息”。我们选取了五家龙头公司的数据，首先，从收入端来看，水泥的区域性充分显现，金隅和华润（分别代表京津冀和两广）的吨收入变化无论是从同比还是环比角度都要远高于海螺、中国建材和华新（可以近似代表全国平均），金隅和华润过去一年吨收入上涨了 70-80 元，而另三家过去一年吨收入上涨了 40 多元。

近期国家“一带一路”战略的推进受到市场高度关注，尤其是沙特国王访华期间签署 650 亿美元涉及投资、能源、空间等领域，“一带一路”官网正式上线， 5 月即将召开“一带一路”国际合作高峰论坛等事件催化了市场行情。本报告旨在研究和分析“一带一路”战略推进大背景下建材行业央企中国建材集团旗下相关 A 股上市公司或将继续存在的投资机会。

上周全国水泥市场价格继续上扬，环比涨幅为0.54%。价格上涨区域主要集中在江苏、浙江、安徽和云南等地，幅度 10-30 元/吨。目前继续处于价格上涨阶段，下周西南区域涨价预期较强，全国均价预计稳中微涨。上周行业利空因素虽然有部分城市地产调控政策，这也是市场比较担心的地方，但利好因素是一带一路主题投资带来对基建水泥股天山股份、青松建化、祁连山、宁夏建材等的青睐。

尽管我们对中国水泥的长期供求结构关系依然谨慎，但对于 2017 年的水泥基本面我们的看法是积极的。我们相信水泥的需求增长将在 2%，而新供给同比增速将在 1.3%左右，所以水泥的毛利将会有一个周期性的复苏。我们自下而上的分析得出 2017 年全国将增加新产线 17 条，对比 2016 年的 19 条和 2015 年的 22 条。

The global market for ceramic coating is growing at a considerable rate. This healthy growth rate is attributed to the increase in the use of ceramic-coated metals in automotive parts, aerospace and defense components, power generation equipment, medical equipment, and other industrial equipment. In 2015, the automotive end-user industry accounted for the highest segment followed by the aerospace and defense industry.Ceramic coatings are mainly based on compositions of oxides, carbides, and nitrides. In 2015, the oxide-based ceramic coatings segment dominated the global ceramic coatings market with over 58% market share and is expected to grow at a CAGR of over 8% during the forecast period. Zirconium oxide is used in molten metals for thermal barrier coating. Aluminum oxide is used for nonconductivity and wear and corrosion resistance. Titanium dioxide is used for wear resistance caused by abrasive grains and hard surfaces.In this report, Technavio covers the present scenario and growth prospects of the global ceramic coatings market for 2016-2020.

The global bulletproof glass has a positive outlook because of the growing demand from the financial service sector in Asia-Pacific (APAC). Emerging economies like China will help drive the demand for bulletproof glass in APAC, which contributed about 25.04% of the global market revenue.The market is witnessing increased expenditure by vendors on their R&D activities.Rapidly changing technology and consumer preferences are forcing vendors to deliver innovative bulletproof glass to survive in the market. The market is witnessing many innovative applications and solutions such as the development of transparent metallic clay, called spinel. The market is expected to witness the development of innovative bulletproof security glass during the forecast period.In this report, Technavio covers the present scenario and growth prospects of the global bulletproof glass market for 2016-2020. To arrive at the market size, the study considers the revenue generated from the sales of bulletproof security glass widely used worldwide in various end-user applications.

Composite materials are made of two or more materials with distinct physical and chemical properties, which when combined form a material that has characteristic properties different from the individual materials. GFRP composites are fiber-reinforced polymers that are made of plastic and reinforced with glass fibers (GFs) in a continuous stranded manner. The plastic used for producing GFRP composites may be a thermoplastic or a thermoset plastic (mostly epoxy, polyester, or vinyl ester).

In this market research report, Technavio covers the present scenario and growth prospects of the global automotive paints and coatings market for 2017-2021. The report also presents the vendor landscape and corresponding detailed profiles of the five key vendors operating in the market. The base year is taken to be 2016 for the whole report and forecasts are made with respect to the base year.