
Global Cellulose Acetate Butyrate (CAB) Competitive Landscape Professional Research Report 2025
Description
Research Summary
Cellulose Acetate Butyrate (CAB) is a thermoplastic material derived from cellulose, a natural polymer found in the cell walls of plants. It is produced by chemically modifying cellulose through acetylation and butyrylation, where both acetyl and butyryl groups are introduced onto the cellulose molecule. The degree of acetylation and butyrylation can vary, resulting in different types of CAB with varying properties. CAB is known for its excellent clarity, toughness, and resistance to impact, making it a popular choice in applications requiring transparent or translucent materials with high durability. It is commonly used in the production of eyewear frames, as it offers excellent colorability, lightweight characteristics, and resistance to cracking. CAB is also utilized in various other applications, such as automotive parts, coatings, adhesives, and as a binder in inks and coatings for its adhesion properties. Its versatility and unique properties make Cellulose Acetate Butyrate a valuable material in several industrial and consumer product sectors.
According to DIResearch's in-depth investigation and research, the global Cellulose Acetate Butyrate (CAB) market size was valued at XX Million USD in 2024 and is projected to reach XX Million USD by 2032, with a CAGR of XX% (2025-2032). Notably, the China market has changed rapidly in the past few years. By 2024, China's market size is expected to be XX Million USD, representing approximately XX% of the global market share. By 2032, it is anticipated to grow further to XX Million USD, contributing XX% to the worldwide market share.
The major global manufacturers of Cellulose Acetate Butyrate (CAB) include Eastman, Fujian Hongyan etc. The global players competition landscape in this report is divided into three tiers. The first tier comprises global leading enterprises that command a substantial market share, hold a dominant industry position, possess strong competitiveness and influence, and generate significant revenue. The second tier includes companies with a notable market presence and reputation; these firms actively follow industry leaders in product, service, or technological innovation and maintain a moderate revenue scale. The third tier consists of smaller companies with limited market share and lower brand recognition, primarily focused on local markets and generating comparatively lower revenue.
This report studies the market size, price trends and future development prospects of Cellulose Acetate Butyrate (CAB). Focus on analysing the market share, product portfolio, prices, sales, revenue and gross profit margin of global major manufacturers, as well as the market status and trends of different product types and applications in the global Cellulose Acetate Butyrate (CAB) market. The report data covers historical data from 2020 to 2024, based year in 2025 and forecast data from 2026 to 2032.
The regions and countries in the report include North America, Europe, China, APAC (excl. China), Latin America and Middle East and Africa, covering the Cellulose Acetate Butyrate (CAB) market conditions and future development trends of key regions and countries, combined with industry-related policies and the latest technological developments, analyze the development characteristics of Cellulose Acetate Butyrate (CAB) industries in various regions and countries, help companies understand the development characteristics of each region, help companies formulate business strategies, and achieve the ultimate goal of the company's global development strategy.
The data sources of this report mainly include the National Bureau of Statistics, customs databases, industry associations, corporate financial reports, third-party databases, etc. Among them, macroeconomic data mainly comes from the National Bureau of Statistics, International Economic Research Organization; industry statistical data mainly come from industry associations; company data mainly comes from interviews, public information collection, third-party reliable databases, and price data mainly comes from various markets monitoring database.
Global Key Manufacturers of Cellulose Acetate Butyrate (CAB) Include:
Eastman
Fujian Hongyan
Cellulose Acetate Butyrate (CAB) Product Segment Include:
Butyryl Content Below 17-38 wt %
Butyryl Content Below 50-53 wt %
Others
Cellulose Acetate Butyrate (CAB) Product Application Include:
Coatings
Nail Care
Printing Inks
Others
Chapter Scope
Chapter 1: Product Research Range, Product Types and Applications, Market Overview, Market Situation and Trends
Chapter 2: Global Cellulose Acetate Butyrate (CAB) Capacity and Production Analysis
Chapter 3: Global Cellulose Acetate Butyrate (CAB) Industry PESTEL Analysis
Chapter 4: Global Cellulose Acetate Butyrate (CAB) Industry Porter's Five Forces Analysis
Chapter 5: Global Cellulose Acetate Butyrate (CAB) Major Regional Market Size (Revenue, Sales, Price) and Forecast Analysis
Chapter 6: Global Cellulose Acetate Butyrate (CAB) Market Size and Forecast by Type and Application Analysis
Chapter 7: North America Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 8: Europe Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 9: China Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 10: APAC (Excl. China) Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 11: Latin America Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 12: Middle East and Africa Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 13: Global Cellulose Acetate Butyrate (CAB) Competitive Analysis of Key Manufacturers (Sales, Revenue, Market Share, Price, Regional Distribution and Industry Concentration)
Chapter 14: Key Company Profiles (Product Portfolio, Sales, Revenue, Price and Gross Margin)
Chapter 15: Industrial Chain Analysis, Include Raw Material Suppliers, Distributors and Customers
Chapter 16: Research Findings and Conclusion
Chapter 17: Methodology and Data Sources
Cellulose Acetate Butyrate (CAB) is a thermoplastic material derived from cellulose, a natural polymer found in the cell walls of plants. It is produced by chemically modifying cellulose through acetylation and butyrylation, where both acetyl and butyryl groups are introduced onto the cellulose molecule. The degree of acetylation and butyrylation can vary, resulting in different types of CAB with varying properties. CAB is known for its excellent clarity, toughness, and resistance to impact, making it a popular choice in applications requiring transparent or translucent materials with high durability. It is commonly used in the production of eyewear frames, as it offers excellent colorability, lightweight characteristics, and resistance to cracking. CAB is also utilized in various other applications, such as automotive parts, coatings, adhesives, and as a binder in inks and coatings for its adhesion properties. Its versatility and unique properties make Cellulose Acetate Butyrate a valuable material in several industrial and consumer product sectors.
According to DIResearch's in-depth investigation and research, the global Cellulose Acetate Butyrate (CAB) market size was valued at XX Million USD in 2024 and is projected to reach XX Million USD by 2032, with a CAGR of XX% (2025-2032). Notably, the China market has changed rapidly in the past few years. By 2024, China's market size is expected to be XX Million USD, representing approximately XX% of the global market share. By 2032, it is anticipated to grow further to XX Million USD, contributing XX% to the worldwide market share.
The major global manufacturers of Cellulose Acetate Butyrate (CAB) include Eastman, Fujian Hongyan etc. The global players competition landscape in this report is divided into three tiers. The first tier comprises global leading enterprises that command a substantial market share, hold a dominant industry position, possess strong competitiveness and influence, and generate significant revenue. The second tier includes companies with a notable market presence and reputation; these firms actively follow industry leaders in product, service, or technological innovation and maintain a moderate revenue scale. The third tier consists of smaller companies with limited market share and lower brand recognition, primarily focused on local markets and generating comparatively lower revenue.
This report studies the market size, price trends and future development prospects of Cellulose Acetate Butyrate (CAB). Focus on analysing the market share, product portfolio, prices, sales, revenue and gross profit margin of global major manufacturers, as well as the market status and trends of different product types and applications in the global Cellulose Acetate Butyrate (CAB) market. The report data covers historical data from 2020 to 2024, based year in 2025 and forecast data from 2026 to 2032.
The regions and countries in the report include North America, Europe, China, APAC (excl. China), Latin America and Middle East and Africa, covering the Cellulose Acetate Butyrate (CAB) market conditions and future development trends of key regions and countries, combined with industry-related policies and the latest technological developments, analyze the development characteristics of Cellulose Acetate Butyrate (CAB) industries in various regions and countries, help companies understand the development characteristics of each region, help companies formulate business strategies, and achieve the ultimate goal of the company's global development strategy.
The data sources of this report mainly include the National Bureau of Statistics, customs databases, industry associations, corporate financial reports, third-party databases, etc. Among them, macroeconomic data mainly comes from the National Bureau of Statistics, International Economic Research Organization; industry statistical data mainly come from industry associations; company data mainly comes from interviews, public information collection, third-party reliable databases, and price data mainly comes from various markets monitoring database.
Global Key Manufacturers of Cellulose Acetate Butyrate (CAB) Include:
Eastman
Fujian Hongyan
Cellulose Acetate Butyrate (CAB) Product Segment Include:
Butyryl Content Below 17-38 wt %
Butyryl Content Below 50-53 wt %
Others
Cellulose Acetate Butyrate (CAB) Product Application Include:
Coatings
Nail Care
Printing Inks
Others
Chapter Scope
Chapter 1: Product Research Range, Product Types and Applications, Market Overview, Market Situation and Trends
Chapter 2: Global Cellulose Acetate Butyrate (CAB) Capacity and Production Analysis
Chapter 3: Global Cellulose Acetate Butyrate (CAB) Industry PESTEL Analysis
Chapter 4: Global Cellulose Acetate Butyrate (CAB) Industry Porter's Five Forces Analysis
Chapter 5: Global Cellulose Acetate Butyrate (CAB) Major Regional Market Size (Revenue, Sales, Price) and Forecast Analysis
Chapter 6: Global Cellulose Acetate Butyrate (CAB) Market Size and Forecast by Type and Application Analysis
Chapter 7: North America Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 8: Europe Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 9: China Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 10: APAC (Excl. China) Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 11: Latin America Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 12: Middle East and Africa Cellulose Acetate Butyrate (CAB) Competitive Analysis (Market Size, Key Players and Market Share, Product Type and Application Segment Analysis, Countries Analysis)
Chapter 13: Global Cellulose Acetate Butyrate (CAB) Competitive Analysis of Key Manufacturers (Sales, Revenue, Market Share, Price, Regional Distribution and Industry Concentration)
Chapter 14: Key Company Profiles (Product Portfolio, Sales, Revenue, Price and Gross Margin)
Chapter 15: Industrial Chain Analysis, Include Raw Material Suppliers, Distributors and Customers
Chapter 16: Research Findings and Conclusion
Chapter 17: Methodology and Data Sources
Table of Contents
170 Pages
- 1 Cellulose Acetate Butyrate (CAB) Market Overview
- 1.1 Product Definition and Statistical Scope
- 1.2 Cellulose Acetate Butyrate (CAB) Product by Type
- 1.2.1 Butyryl Content Below 17-38 wt %
- 1.2.2 Butyryl Content Below 50-53 wt %
- 1.2.3 Others
- 1.3 Cellulose Acetate Butyrate (CAB) Product by Application
- 1.3.1 Coatings
- 1.3.2 Nail Care
- 1.3.3 Printing Inks
- 1.3.4 Others
- 1.4 Global Cellulose Acetate Butyrate (CAB) Market Revenue and Sales Analysis
- 1.4.1 Global Cellulose Acetate Butyrate (CAB) Revenue Market Size Analysis (2020-2032)
- 1.4.2 Global Cellulose Acetate Butyrate (CAB) Sales Market Size Analysis (2020-2032)
- 1.4.3 Global Cellulose Acetate Butyrate (CAB) Market Sales Price Trend Analysis (2020-2032)
- 1.5 Cellulose Acetate Butyrate (CAB) Industry Trends and Innovation
- 1.5.1 Cellulose Acetate Butyrate (CAB) Industry Trends and Innovation
- 1.5.2 Cellulose Acetate Butyrate (CAB) Market Drivers and Challenges
- 2 Global Cellulose Acetate Butyrate (CAB) Capacity and Production Analysis
- 2.1 Global Cellulose Acetate Butyrate (CAB) Capacity, Production and Utilization (2020-2032)
- 2.2 Global Cellulose Acetate Butyrate (CAB) Production Growth Trend by Region: 2024 VS 2025 VS 2030
- 2.3 Global Cellulose Acetate Butyrate (CAB) Production by Region
- 2.3.1 Global Cellulose Acetate Butyrate (CAB) Production by Region (2020-2025)
- 2.3.2 Global Cellulose Acetate Butyrate (CAB) Production Forecast by Region (2026-2032)
- 2.3.3 Global Cellulose Acetate Butyrate (CAB) Production Market Share by Region (2020-2032)
- 3 Cellulose Acetate Butyrate (CAB) Market PESTEL Analysis
- 3.1 Political Factors Analysis
- 3.2 Economic Factors Analysis
- 3.3 Social Factors Analysis
- 3.4 Technological Factors Analysis
- 3.5 Environmental Factors Analysis
- 3.6 Legal Factors Analysis
- 4 Cellulose Acetate Butyrate (CAB) Market Porter's Five Forces Analysis
- 4.1 Competitive Rivalry
- 4.2 Threat of New Entrants
- 4.3 Bargaining Power of Suppliers
- 4.4 Bargaining Power of Buyers
- 4.5 Threat of Substitutes
- 5 Global Cellulose Acetate Butyrate (CAB) Market Analysis by Regions
- 5.1 Cellulose Acetate Butyrate (CAB) Overall Market: 2024 VS 2025 VS 2032
- 5.2 Global Cellulose Acetate Butyrate (CAB) Revenue and Forecast Analysis (2020-2032)
- 5.2.1 Global Cellulose Acetate Butyrate (CAB) Revenue and Market Share by Region (2020-2025)
- 5.2.2 Global Cellulose Acetate Butyrate (CAB) Revenue and Market Forecast by Region (2026-2032)
- 5.3 Global Cellulose Acetate Butyrate (CAB) Sales and Forecast Analysis (2020-2032)
- 5.3.1 Global Cellulose Acetate Butyrate (CAB) Sales and Market Share by Region (2020-2025)
- 5.3.2 Global Cellulose Acetate Butyrate (CAB) Sales and Market Forecast by Region (2026-2032)
- 5.4 Global Cellulose Acetate Butyrate (CAB) Sales Price Trend Analysis (2020-2032)
- 6 Global Cellulose Acetate Butyrate (CAB) Market Size by Type and Application
- 6.1 Global Cellulose Acetate Butyrate (CAB) Market Size by Type
- 6.1.1 Global Cellulose Acetate Butyrate (CAB) Revenue and Forecast Analysis by Type (2020-2032)
- 6.1.2 Global Cellulose Acetate Butyrate (CAB) Sales and Forecast Analysis by Type (2020-2032)
- 6.2 Global Cellulose Acetate Butyrate (CAB) Market Size by Application
- 6.2.1 Global Cellulose Acetate Butyrate (CAB) Revenue and Forecast Analysis by Application (2020-2032)
- 6.2.2 Global Cellulose Acetate Butyrate (CAB) Sales and Forecast Analysis by Application (2020-2032)
- 7 North America
- 7.1 North America Cellulose Acetate Butyrate (CAB) Market Size and Growth Rate Analysis (2020-2032)
- 7.2 North America Key Manufacturers Analysis
- 7.3 North America Cellulose Acetate Butyrate (CAB) Market Size by Type
- 7.3.1 North America Cellulose Acetate Butyrate (CAB) Sales by Type (2020-2032)
- 7.3.2 North America Cellulose Acetate Butyrate (CAB) Revenue by Type (2020-2032)
- 7.4 North America Cellulose Acetate Butyrate (CAB) Market Size by Application
- 7.4.1 North America Cellulose Acetate Butyrate (CAB) Sales by Application (2020-2032)
- 7.4.2 North America Cellulose Acetate Butyrate (CAB) Revenue by Application (2020-2032)
- 7.5 North America Cellulose Acetate Butyrate (CAB) Market Size by Country
- 7.5.1 US
- 7.5.2 Canada
- 8 Europe
- 8.1 Europe Cellulose Acetate Butyrate (CAB) Market Size and Growth Rate Analysis (2020-2032)
- 8.2 Europe Key Manufacturers Analysis
- 8.3 Europe Cellulose Acetate Butyrate (CAB) Market Size by Type
- 8.3.1 Europe Cellulose Acetate Butyrate (CAB) Sales by Type (2020-2032)
- 8.3.2 Europe Cellulose Acetate Butyrate (CAB) Revenue by Type (2020-2032)
- 8.4 Europe Cellulose Acetate Butyrate (CAB) Market Size by Application
- 8.4.1 Europe Cellulose Acetate Butyrate (CAB) Sales by Application (2020-2032)
- 8.4.2 Europe Cellulose Acetate Butyrate (CAB) Revenue by Application (2020-2032)
- 8.5 Europe Cellulose Acetate Butyrate (CAB) Market Size by Country
- 8.5.1 Germany
- 8.5.2 France
- 8.5.3 United Kingdom
- 8.5.4 Italy
- 8.5.5 Spain
- 8.5.6 Benelux
- 9 China
- 9.1 China Cellulose Acetate Butyrate (CAB) Market Size and Growth Rate Analysis (2020-2032)
- 9.2 China Key Manufacturers Analysis
- 9.3 China Cellulose Acetate Butyrate (CAB) Market Size by Type
- 9.3.1 China Cellulose Acetate Butyrate (CAB) Sales by Type (2020-2032)
- 9.3.2 China Cellulose Acetate Butyrate (CAB) Revenue by Type (2020-2032)
- 9.4 China Cellulose Acetate Butyrate (CAB) Market Size by Application
- 9.4.1 China Cellulose Acetate Butyrate (CAB) Sales by Application (2020-2032)
- 9.4.2 China Cellulose Acetate Butyrate (CAB) Revenue by Application (2020-2032)
- 10 APAC (excl. China)
- 10.1 APAC (excl. China) Cellulose Acetate Butyrate (CAB) Market Size and Growth Rate Analysis (2020-2032)
- 10.2 APAC (excl. China) Key Manufacturers Analysis
- 10.3 APAC (excl. China) Cellulose Acetate Butyrate (CAB) Market Size by Type
- 10.3.1 APAC (excl. China) Cellulose Acetate Butyrate (CAB) Sales by Type (2020-2032)
- 10.3.2 APAC (excl. China) Cellulose Acetate Butyrate (CAB) Revenue by Type (2020-2032)
- 10.4 APAC (excl. China) Cellulose Acetate Butyrate (CAB) Market Size by Application
- 10.4.1 APAC (excl. China) Cellulose Acetate Butyrate (CAB) Sales by Application (2020-2032)
- 10.4.2 APAC (excl. China) Cellulose Acetate Butyrate (CAB) Revenue by Application (2020-2032)
- 10.5 APAC (excl. China) Cellulose Acetate Butyrate (CAB) Market Size by Country
- 10.5.1 Japan
- 10.5.2 South Korea
- 10.5.3 India
- 10.5.4 Australia
- 10.5.5 Southeast Asia
- 11 Latin America
- 11.1 Latin America Cellulose Acetate Butyrate (CAB) Market Size and Growth Rate Analysis (2020-2032)
- 11.2 Latin America Key Manufacturers Analysis
- 1`.3 Latin America Cellulose Acetate Butyrate (CAB) Market Size by Type
- 11.3.1 Latin America Cellulose Acetate Butyrate (CAB) Sales by Type (2020-2032)
- 11.3.2 Latin America Cellulose Acetate Butyrate (CAB) Revenue by Type (2020-2032)
- 11.4 Latin America Cellulose Acetate Butyrate (CAB) Market Size by Application
- 11.4.1 Latin America Cellulose Acetate Butyrate (CAB) Sales by Application (2020-2032)
- 11.4.2 Latin America Cellulose Acetate Butyrate (CAB) Revenue by Application (2020-2032)
- 11.5 Latin America Cellulose Acetate Butyrate (CAB) Market Size by Country
- 11.6 Latin America Cellulose Acetate Butyrate (CAB) Market Size by Country
- 11.6.1 Mexico
- 11.6.2 Brazil
- 12 Middle East & Africa
- 12.1 Middle East & Africa Cellulose Acetate Butyrate (CAB) Market Size and Growth Rate Analysis (2020-2032)
- 12.2 Middle East & Africa Key Manufacturers Analysis
- 12.3 Middle East & Africa Cellulose Acetate Butyrate (CAB) Market Size by Type
- 12.3.1 Middle East & Africa Cellulose Acetate Butyrate (CAB) Sales by Type (2020-2032)
- 12.3.2 Middle East & Africa Cellulose Acetate Butyrate (CAB) Revenue by Type (2020-2032)
- 12.4 Middle East & Africa Cellulose Acetate Butyrate (CAB) Market Size by Application
- 12.4.1 Middle East & Africa Cellulose Acetate Butyrate (CAB) Sales by Application (2020-2032)
- 12.4.2 Middle East & Africa Cellulose Acetate Butyrate (CAB) Revenue by Application (2020-2032)
- 12.5 Middle East Cellulose Acetate Butyrate (CAB) Market Size by Country
- 12.5.1 Saudi Arabia
- 12.5.2 South Africa
- 13 Competition by Manufacturers
- 13.1 Global Cellulose Acetate Butyrate (CAB) Market Sales, Revenue and Price by Key Manufacturers (2021-2025)
- 13.1.1 Global Cellulose Acetate Butyrate (CAB) Market Sales by Key Manufacturers (2021-2025)
- 13.1.2 Global Cellulose Acetate Butyrate (CAB) Market Revenue by Key Manufacturers (2021-2025)
- 13.1.3 Global Cellulose Acetate Butyrate (CAB) Average Sales Price by Manufacturers (2021-2025)
- 13.2 Cellulose Acetate Butyrate (CAB) Competitive Landscape Analysis and Market Dynamic
- 13.2.1 Cellulose Acetate Butyrate (CAB) Competitive Landscape Analysis
- 13.2.2 Global Key Manufacturers Headquarter Location and Key Area Sales
- 13.2.3 Market Dynamic
- 14 Key Companies Analysis
- 14.1 Eastman
- 14.1.1 Eastman Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
- 14.1.2 Eastman Cellulose Acetate Butyrate (CAB) Product Portfolio
- 14.1.3 Eastman Cellulose Acetate Butyrate (CAB) Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2021-2025)
- 14.2 Fujian Hongyan
- 14.2.1 Fujian Hongyan Basic Company Profile (Employees, Areas Service, Competitors and Contact Information)
- 14.2.2 Fujian Hongyan Cellulose Acetate Butyrate (CAB) Product Portfolio
- 14.2.3 Fujian Hongyan Cellulose Acetate Butyrate (CAB) Market Data Analysis (Revenue, Sales, Price, Gross Margin and Market Share) (2021-2025)
- 15 Industry Chain Analysis
- 15.1 Cellulose Acetate Butyrate (CAB) Industry Chain Analysis
- 15.2 Cellulose Acetate Butyrate (CAB) Industry Raw Material and Suppliers Analysis
- 15.2.1 Cellulose Acetate Butyrate (CAB) Key Raw Material Supply Analysis
- 15.2.2 Raw Material Suppliers and Contact Information
- 15.3 Cellulose Acetate Butyrate (CAB) Typical Downstream Customers
- 15.4 Cellulose Acetate Butyrate (CAB) Sales Channel Analysis
- 16 Research Findings and Conclusion
- 17 Methodology and Data Source
- 17.1 Methodology/Research Approach
- 17.2 Research Scope
- 17.3 Benchmarks and Assumptions
- 17.4 Date Source
- 17.4.1 Primary Sources
- 17.4.2 Secondary Sources
- 17.5 Data Cross Validation
- 17.6 Disclaimer
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