中信证券：建议聚焦具备高市占率、高成本优势、可提供聚氨酯综合解决方案的行业龙头

一图看懂美联储2024年首份利率决议：如期按兵不动 鲍威尔称3月不太可能降息。","multimedia":{"img_url":["https://n.sinaimg.cn/zhibo/760/w360h1200/20240201/725f-5fd49f7ee717cf4aa0129ffc5b224359.jpg"]},"commentid":"live:finance-152-3475990:0","compere_id":0,"creator":"mingliang10@staff.sina.com.cn","mender":"mingliang10@staff.sina.com.cn","create_time":"2024-02-01 08:24:29","update_time":"2024-02-01 08:24:58","is_need_check":"0","check_time":"1970-01-01 08:00:01","check_status":"1","check_user":"","is_delete":0,"top_value":0,"is_focus":0,"source_content_id":"0","anchor_image_url":"","anchor":"直播员","ext":"{"stocks":[],"needPushWB":false,"needCMSLink":true,"needCalender":true,"docurl":"https:\/\/finance.sina.com.cn\/7x24\/2024-02-01\/doc-inafnvch0794415.shtml","docid":"nafnvch0794415"}","old_live_cid":"0","tab":"","is_repeat":"0","tag":[{"id":"5","name":"市场"},{"id":"102","name":"国际"}],"like_nums":0,"comment_list":{"list":[],"total":0,"thread_show":0,"qreply":0,"qreply_show":0,"show":0},"docurl":"https://finance.sina.cn/7x24/2024-02-01/detail-inafnvch0794415.d.html","rich_text_nick_to_url":[],"rich_text_nick_to_routeUri":[],"compere_info":""},{"id":3475989,"zhibo_id":152,"type":0,"rich_text":"【中信证券：建议聚焦具备高市占率、高成本优势、可提供聚氨酯综合解决方案的行业龙头】 中信证券研报指出，聚氨酯广泛应用于建筑、家电、汽车等领域，中国是最大生产和消费国。供给端，聚氨酯原料市场具有化工行业中少有的寡头垄断格局，国内龙头企业具备规模和成本优势。需求端，海内外需求企稳，新兴领域发展迅速，我们预计2024年国内MDI和TDI产量同比+11%和+6%；高端产品渗透提升，我们预计2024年国内ADI供给和需求同比+15%和+22%，增速高于海外水平。价格端，目前产品价格、价差处于历史低位，行业盈利水平具备高弹性。建议聚焦具备高市占率、高成本优势、可提供聚氨酯综合解决方案的行业龙头。