Group 1 - The organic silicon companies have united to reduce production by 30%, accelerating the industry's turning point, with a potential price gap recovery of 50% based on the cycle experience from 2016 to 2018, as these companies have large production capacities [1] - Overseas giants like Dow Chemical are gradually exiting the market, with a further reduction expected to 600,000 to 700,000 tons by 2026-2027, indicating that this company's business structure is pure and its performance is highly correlated with DMC prices, providing higher potential elasticity [1] - The electronics industry is becoming the main consumer market, with thermal silicone grease, phase change materials, and electronic potting adhesives widely used in servers, base stations, and smart devices, allowing this company to avoid the saturated construction adhesive market and enter high-barrier fields [1]

申万宏源发布研报称，预计我国有机硅产业凭借成本优势将持续抢占海外份额，有机硅内外需有望共 振。有机硅行业拐点已现，供需格局向好，向上弹性较大。该行认为具备规模优势、产业链配套优势的 一体化企业，以及在下游深加工方面较为出色的企业，包括合盛硅业(603260.SH)、东岳硅材 (300821.SZ)、兴发集团(600141.SH)、新安股份(600596.SH)、鲁西化工(000830.SZ)、三友化工 (600409.SH)。 申万宏源主要观点如下： 有机硅材料性能优异，广泛用于国民经济各个领域 有机硅产业链上游主要为金属硅，中游为单体及中间体，下游包括硅橡胶、硅油、硅树脂等深加工产 品，在有机硅产品的结构中既含有"有机基团"，又含有"无机结构"，这种特殊的组成和分子结构使其集 有机物的特性与无机物的功能于一身，独特的分子结构赋予了有机硅材料优越的性能，如粘结密封性、 耐高低温、耐候性等等，下游广泛应用于建筑、电力、电子电器、汽车、纺织、个人护理等国民经济各 个领域。 内外需共振推升景气，新能源催化增量需求 我国有机硅消费量占全球比重约为60%。1)内需：据百川盈孚数据，2024年我国有机硅DMC表观消费量 ...