硅酸铝保温材料，耐火材料，高温玻璃棉-九天耐火保温材料有限公司

Many domestic pu than expected strong demand, raw material prices rise sharply. As the global economic recovery, China's polyurethane industry chain of raw materials prices rose dramatically, adipic acid 22050 yuan/ton (10 annual average price 18785 yuan/ton); BDO22000 yuan/ton (18311 yuan/ton); Pure MDI market price 21150 yuan/ton (18188 yuan/ton); Polymerization MDI market price 17750 yuan/ton (16458 yuan/ton). 

Polyurethane is contains carbamate segment of organic polymer materials. PU (Polyurethane, English abbreviation PU) is a kind of isocyanate and polyol reaction from more and more carbamate chain segments of organic polymer materials, the raw materials can be divided into isocyanate class (e.g., MDI and TDI), polyol classes (such as PO and PTMEG) and additives (such as DMF). 

Demand presents the fast growth of polyurethane products. Polyurethane (pu) is the only all kinds of high polymer material in plastic, rubber, foam, fiber, coating, adhesives and functional macromolecule were seven areas have significant application value of synthetic polymer materials, has become the current polymer materials in most varieties, the most versatile, fastest growing special organic synthetic material, and constantly used in high iron and emerging areas such as new energy. 

China has become the first powers of the global production and consumption of polyurethane. Polyurethane (pu) of 2000, China's annual output is 1 million tons, only by the year 2010 has reached 6.5 million tons, accounting for 36% of the total global output. A total of more than 20000 enterprises, at present, China's polyurethane industry output value has exceeded 150 billion. 

Grasp the investment opportunities in polyurethane industry, we think the idea is: first of all, according to the macroeconomic situation to do out side of universal polyurethane mesh (article source) to the overall judgment (article source global polyurethane mesh), from the experience at home and abroad to know polyurethane belong to strong cycle industry, the growth rate of around 1.5-2.0 times GDP, and so can be directional judgment according to China's macroeconomic situation; Secondly, through the analysis of the capacity of effective operation of localization industry, the actual capacity utilization and delivery schedule of new capacity is the key to affect the current price level and expected future price factors; Finally, the search to find the product price upward and the listed companies with the biggest profit elasticity. 

Commend our emphasis on yantai wanhua (600309) (expansion has high barriers, time is long, volume growth with good price) over the next two years, in addition due to demand growth faster and 11 new capacity is less, the adipic acid (day high (600339), shandong hengsheng god horse shares (600810), China (600426)), BDO (shanxi three-dimensional (000755)), epoxy propane (marina co., (601678)), and other good degrees will also have to maintain, but 12 years after the boom of the still need to be followed.