基础化工：化工新材料产业链分析及河南省概况

Investment Rating - The report does not explicitly state an investment rating for the chemical new materials industry. Core Insights - The chemical new materials industry is a crucial sector for strategic emerging industries such as high-end equipment, aerospace, new energy, electronic information, energy conservation, and biotechnology, serving as a foundational and leading industry for the national economy [1][11]. - The global market for chemical new materials is projected to grow at a compound annual growth rate (CAGR) of 4.40% from 2019 to 2025, reaching a market size of approximately 480 billion USD by 2025 [3][26]. - China's chemical new materials industry has seen rapid development, with significant breakthroughs in process technology since the 13th Five-Year Plan, although it still faces challenges such as structural oversupply in certain varieties and a reliance on imports for some high-end products [3][34]. Summary by Sections 1. Overview of the Chemical New Materials Industry - Chemical new materials encompass various new chemical materials with superior performance or special functions compared to traditional materials, including high-end polyolefin materials, engineering plastics, polyurethane materials, and more [1][12]. 2. Global Development Trends - The global chemical new materials industry is characterized by technological leadership from developed countries, with the U.S., Europe, and Japan at the forefront, while emerging economies like China are rapidly developing [26][29]. 3. China's Development Trends - China's chemical new materials consumption increased from 26.27 million tons in 2016 to 38.34 million tons in 2021, with a CAGR of 7.85%, outpacing the overall growth of the chemical industry [32][33]. - The self-sufficiency rate of China's chemical new materials has improved significantly, rising from 58.5% in 2016 to 77.3% in 2021 [32][33]. 4. Policy Support - The Chinese government has implemented various policies to support the high-quality development of the chemical new materials industry, aiming to strengthen and expand the sector towards high-end products [3][34]. 5. Development Status in Henan Province - Henan Province has prioritized the development of the chemical new materials industry, establishing a solid industrial foundation and achieving notable progress with leading companies emerging in various fields [3][34].