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Global Molybdenum Oxide Market Analysis and Forecast 2024-2030

April 2024 | 130 pages | ID: G72379E65567EN
APO Research

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This report studies the Molybdenum Oxide market, Molybdenum trioxide (CAS 1313-27-5) is gray black powder. It is a chemicals compound derived from molybdenum, and used primarily in the steel industry for corrosion resistance, strengthening and heat resistance, molybdenum chemical industry.

According to APO Research, The global Molybdenum Oxide market is projected to grow from US$ million in 2024 to US$ million by 2030, at a Compound Annual Growth Rate (CAGR) of % during the forecast period.

Global Molybdenum Oxide (CAS 1313-27-5) key players include Molibdenos y Metales S.A, Freeport-McMoRan (FCX), Codelco, etc. Global top three manufacturers hold a share over 40%.

China is the largest market, with a share about 40%, followed by North America and South America, both have a share about 55 percent.

In terms of product, Technical Molybdenum Oxide is the largest segment, with a share about 90%. And in terms of application, the largest application is Metallurgy Industry, followed by Alloy Metals Industry, Chemical Industry, etc.

In terms of production side, this report researches the Molybdenum Oxide production, growth rate, market share by manufacturers and by region (region level and country level), from 2019 to 2024, and forecast to 2030.

In terms of consumption side, this report focuses on the sales of Molybdenum Oxide by region (region level and country level), by Company, by Type and by Application. from 2019 to 2024 and forecast to 2030.

This report presents an overview of global market for Molybdenum Oxide, capacity, output, revenue and price. Analyses of the global market trends, with historic market revenue or sales data for 2019 - 2023, estimates for 2024, and projections of CAGR through 2030.

This report researches the key producers of Molybdenum Oxide, also provides the consumption of main regions and countries. Of the upcoming market potential for Molybdenum Oxide, and key regions or countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.

This report focuses on the Molybdenum Oxide sales, revenue, market share and industry ranking of main manufacturers, data from 2019 to 2024. Identification of the major stakeholders in the global Molybdenum Oxide market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

This report analyzes the segments data by Type and by Application, sales, revenue, and price, from 2019 to 2030. Evaluation and forecast the market size for Molybdenum Oxide sales, projected growth trends, production technology, application and end-user industry.

Descriptive company profiles of the major global players, including Molibdenos y Metales S.A, Freeport-McMoRan (FCX), Codelco, Centerra Gold, Grupo Mexico, Rio Tinto Kennecott, SeAH M&S, Jinduicheng Molybdenum Group and China Molybdenum, etc.

Molybdenum Oxide segment by Company
  • Molibdenos y Metales S.A
  • Freeport-McMoRan (FCX)
  • Codelco
  • Centerra Gold
  • Grupo Mexico
  • Rio Tinto Kennecott
  • SeAH M&S
  • Jinduicheng Molybdenum Group
  • China Molybdenum
  • Jinzhou New China Dragon Moly
  • Linghai Hengtai Molybdenum
Molybdenum Oxide segment by Type
  • Technical Molybdenum Oxide
  • High Pure Molybdenum Oxide
Molybdenum Oxide segment by Application
  • Metallurgy Industry
  • Alloy Metals Industry
  • Chemical Industry
  • Others
Molybdenum Oxide segment by Region
  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Russia
  • Asia-Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • China Taiwan
  • Indonesia
  • Thailand
  • Malaysia
  • Latin America
  • Mexico
  • Brazil
  • Argentina
  • Middle East & Africa
  • Turkey
  • Saudi Arabia
  • UAE
Study Objectives

1. To analyze and research the global status and future forecast, involving, production, value, consumption, growth rate (CAGR), market share, historical and forecast.

2. To present the key manufacturers, capacity, production, revenue, market share, and Recent Developments.

3. To split the breakdown data by regions, type, manufacturers, and Application.

4. To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints, and risks.

5. To identify significant trends, drivers, influence factors in global and regions.

6. To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

Reasons to Buy This Report

1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Molybdenum Oxide market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.

2. This report will help stakeholders to understand the global industry status and trends of Molybdenum Oxide and provides them with information on key market drivers, restraints, challenges, and opportunities.

3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.

4. This report stays updated with novel technology integration, features, and the latest developments in the market.

5. This report helps stakeholders to gain insights into which regions to target globally.

6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Molybdenum Oxide.

7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

Chapter Outline

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by type and by application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 3: Molybdenum Oxide production/output of global and key producers (regions/countries). It provides a quantitative analysis of the production, and development potential of each producer in the next six years.

Chapter 4: Sales (consumption), revenue of Molybdenum Oxide in global, regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.

Chapter 5: Detailed analysis of Molybdenum Oxide manufacturers competitive landscape, price, sales, revenue, market share and industry ranking, latest development plan, merger, and acquisition information, etc.

Chapter 6: Provides the analysis of various market segments by type, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7: Provides the analysis of various market segments by application, covering the sales, revenue, average price, and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8: Provides profiles of key manufacturers, introducing the basic situation of the main companies in the market in detail, including product descriptions and specifications, Molybdenum Oxide sales, revenue, price, gross margin, and recent development, etc.

Chapter 9: North America (US & Canada) by type, by application and by country, sales, and revenue for each segment.

Chapter 10: Europe by type, by application and by country, sales, and revenue for each segment.

Chapter 11: China by type, by application, sales, and revenue for each segment.

Chapter 12: Asia (Excluding China) by type, by application and by region, sales, and revenue for each segment.

Chapter 13: Middle East, Africa, Latin America by type, by application and by country, sales, and revenue for each segment.

Chapter 14: Analysis of industrial chain, sales channel, key raw materials, distributors and customers.

Chapter 15: The main concluding insights of the report.

Chapter 15: The main concluding insights of the report.
1 MARKET OVERVIEW

1.1 Product Definition
1.2 Molybdenum Oxide Market by Type
  1.2.1 Global Molybdenum Oxide Market Size by Type, 2019 VS 2023 VS 2030
  1.2.2 Technical Molybdenum Oxide
  1.2.3 High Pure Molybdenum Oxide
1.3 Molybdenum Oxide Market by Application
  1.3.1 Global Molybdenum Oxide Market Size by Application, 2019 VS 2023 VS 2030
  1.3.2 Metallurgy Industry
  1.3.3 Alloy Metals Industry
  1.3.4 Chemical Industry
  1.3.5 Others
1.4 Assumptions and Limitations
1.5 Study Goals and Objectives

2 MOLYBDENUM OXIDE MARKET DYNAMICS

2.1 Molybdenum Oxide Industry Trends
2.2 Molybdenum Oxide Industry Drivers
2.3 Molybdenum Oxide Industry Opportunities and Challenges
2.4 Molybdenum Oxide Industry Restraints

3 GLOBAL MOLYBDENUM OXIDE PRODUCTION OVERVIEW

3.1 Global Molybdenum Oxide Production Capacity (2019-2030)
3.2 Global Molybdenum Oxide Production by Region: 2019 VS 2023 VS 2030
3.3 Global Molybdenum Oxide Production by Region
  3.3.1 Global Molybdenum Oxide Production by Region (2019-2024)
  3.3.2 Global Molybdenum Oxide Production by Region (2025-2030)
  3.3.3 Global Molybdenum Oxide Production Market Share by Region (2019-2030)
3.4 North America
3.5 South America
3.6 China

4 GLOBAL MARKET GROWTH PROSPECTS

4.1 Global Molybdenum Oxide Revenue Estimates and Forecasts (2019-2030)
4.2 Global Molybdenum Oxide Revenue by Region
  4.2.1 Global Molybdenum Oxide Revenue by Region: 2019 VS 2023 VS 2030
  4.2.2 Global Molybdenum Oxide Revenue by Region (2019-2024)
  4.2.3 Global Molybdenum Oxide Revenue by Region (2025-2030)
  4.2.4 Global Molybdenum Oxide Revenue Market Share by Region (2019-2030)
4.3 Global Molybdenum Oxide Sales Estimates and Forecasts 2019-2030
4.4 Global Molybdenum Oxide Sales by Region
  4.4.1 Global Molybdenum Oxide Sales by Region: 2019 VS 2023 VS 2030
  4.4.2 Global Molybdenum Oxide Sales by Region (2019-2024)
  4.4.3 Global Molybdenum Oxide Sales by Region (2025-2030)
  4.4.4 Global Molybdenum Oxide Sales Market Share by Region (2019-2030)
4.5 US & Canada
4.6 Europe
4.7 China
4.8 Asia (Excluding China)
4.9 Middle East, Africa and Latin America

5 MARKET COMPETITIVE LANDSCAPE BY MANUFACTURERS

5.1 Global Molybdenum Oxide Revenue by Manufacturers
  5.1.1 Global Molybdenum Oxide Revenue by Manufacturers (2019-2024)
  5.1.2 Global Molybdenum Oxide Revenue Market Share by Manufacturers (2019-2024)
  5.1.3 Global Molybdenum Oxide Manufacturers Revenue Share Top 10 and Top 5 in 2023
5.2 Global Molybdenum Oxide Sales by Manufacturers
  5.2.1 Global Molybdenum Oxide Sales by Manufacturers (2019-2024)
  5.2.2 Global Molybdenum Oxide Sales Market Share by Manufacturers (2019-2024)
  5.2.3 Global Molybdenum Oxide Manufacturers Sales Share Top 10 and Top 5 in 2023
5.3 Global Molybdenum Oxide Sales Price by Manufacturers (2019-2024)
5.4 Global Molybdenum Oxide Key Manufacturers Ranking, 2022 VS 2023 VS 2024
5.5 Global Molybdenum Oxide Key Manufacturers Manufacturing Sites & Headquarters
5.6 Global Molybdenum Oxide Manufacturers, Product Type & Application
5.7 Global Molybdenum Oxide Manufacturers Commercialization Time
5.8 Market Competitive Analysis
  5.8.1 Global Molybdenum Oxide Market CR5 and HHI
  5.8.2 2023 Molybdenum Oxide Tier 1, Tier 2, and Tier

6 MOLYBDENUM OXIDE MARKET BY TYPE

6.1 Global Molybdenum Oxide Revenue by Type
  6.1.1 Global Molybdenum Oxide Revenue by Type (2019 VS 2023 VS 2030)
  6.1.2 Global Molybdenum Oxide Revenue by Type (2019-2030) & (US$ Million)
  6.1.3 Global Molybdenum Oxide Revenue Market Share by Type (2019-2030)
6.2 Global Molybdenum Oxide Sales by Type
  6.2.1 Global Molybdenum Oxide Sales by Type (2019 VS 2023 VS 2030)
  6.2.2 Global Molybdenum Oxide Sales by Type (2019-2030) & (MT)
  6.2.3 Global Molybdenum Oxide Sales Market Share by Type (2019-2030)
6.3 Global Molybdenum Oxide Price by Type

7 MOLYBDENUM OXIDE MARKET BY APPLICATION

7.1 Global Molybdenum Oxide Revenue by Application
  7.1.1 Global Molybdenum Oxide Revenue by Application (2019 VS 2023 VS 2030)
  7.1.2 Global Molybdenum Oxide Revenue by Application (2019-2030) & (US$ Million)
  7.1.3 Global Molybdenum Oxide Revenue Market Share by Application (2019-2030)
7.2 Global Molybdenum Oxide Sales by Application
  7.2.1 Global Molybdenum Oxide Sales by Application (2019 VS 2023 VS 2030)
  7.2.2 Global Molybdenum Oxide Sales by Application (2019-2030) & (MT)
  7.2.3 Global Molybdenum Oxide Sales Market Share by Application (2019-2030)
7.3 Global Molybdenum Oxide Price by Application

8 COMPANY PROFILES

8.1 Molibdenos y Metales S.A
  8.1.1 Molibdenos y Metales S.A Comapny Information
  8.1.2 Molibdenos y Metales S.A Business Overview
  8.1.3 Molibdenos y Metales S.A Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.1.4 Molibdenos y Metales S.A Molybdenum Oxide Product Portfolio
  8.1.5 Molibdenos y Metales S.A Recent Developments
8.2 Freeport-McMoRan (FCX)
  8.2.1 Freeport-McMoRan (FCX) Comapny Information
  8.2.2 Freeport-McMoRan (FCX) Business Overview
  8.2.3 Freeport-McMoRan (FCX) Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.2.4 Freeport-McMoRan (FCX) Molybdenum Oxide Product Portfolio
  8.2.5 Freeport-McMoRan (FCX) Recent Developments
8.3 Codelco
  8.3.1 Codelco Comapny Information
  8.3.2 Codelco Business Overview
  8.3.3 Codelco Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.3.4 Codelco Molybdenum Oxide Product Portfolio
  8.3.5 Codelco Recent Developments
8.4 Centerra Gold
  8.4.1 Centerra Gold Comapny Information
  8.4.2 Centerra Gold Business Overview
  8.4.3 Centerra Gold Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.4.4 Centerra Gold Molybdenum Oxide Product Portfolio
  8.4.5 Centerra Gold Recent Developments
8.5 Grupo Mexico
  8.5.1 Grupo Mexico Comapny Information
  8.5.2 Grupo Mexico Business Overview
  8.5.3 Grupo Mexico Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.5.4 Grupo Mexico Molybdenum Oxide Product Portfolio
  8.5.5 Grupo Mexico Recent Developments
8.6 Rio Tinto Kennecott
  8.6.1 Rio Tinto Kennecott Comapny Information
  8.6.2 Rio Tinto Kennecott Business Overview
  8.6.3 Rio Tinto Kennecott Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.6.4 Rio Tinto Kennecott Molybdenum Oxide Product Portfolio
  8.6.5 Rio Tinto Kennecott Recent Developments
8.7 SeAH M&S
  8.7.1 SeAH M&S Comapny Information
  8.7.2 SeAH M&S Business Overview
  8.7.3 SeAH M&S Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.7.4 SeAH M&S Molybdenum Oxide Product Portfolio
  8.7.5 SeAH M&S Recent Developments
8.8 Jinduicheng Molybdenum Group
  8.8.1 Jinduicheng Molybdenum Group Comapny Information
  8.8.2 Jinduicheng Molybdenum Group Business Overview
  8.8.3 Jinduicheng Molybdenum Group Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.8.4 Jinduicheng Molybdenum Group Molybdenum Oxide Product Portfolio
  8.8.5 Jinduicheng Molybdenum Group Recent Developments
8.9 China Molybdenum
  8.9.1 China Molybdenum Comapny Information
  8.9.2 China Molybdenum Business Overview
  8.9.3 China Molybdenum Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.9.4 China Molybdenum Molybdenum Oxide Product Portfolio
  8.9.5 China Molybdenum Recent Developments
8.10 Jinzhou New China Dragon Moly
  8.10.1 Jinzhou New China Dragon Moly Comapny Information
  8.10.2 Jinzhou New China Dragon Moly Business Overview
  8.10.3 Jinzhou New China Dragon Moly Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.10.4 Jinzhou New China Dragon Moly Molybdenum Oxide Product Portfolio
  8.10.5 Jinzhou New China Dragon Moly Recent Developments
8.11 Linghai Hengtai Molybdenum
  8.11.1 Linghai Hengtai Molybdenum Comapny Information
  8.11.2 Linghai Hengtai Molybdenum Business Overview
  8.11.3 Linghai Hengtai Molybdenum Molybdenum Oxide Sales, Revenue, Price and Gross Margin (2019-2024)
  8.11.4 Linghai Hengtai Molybdenum Molybdenum Oxide Product Portfolio
  8.11.5 Linghai Hengtai Molybdenum Recent Developments

9 NORTH AMERICA

9.1 North America Molybdenum Oxide Market Size by Type
  9.1.1 North America Molybdenum Oxide Revenue by Type (2019-2030)
  9.1.2 North America Molybdenum Oxide Sales by Type (2019-2030)
  9.1.3 North America Molybdenum Oxide Price by Type (2019-2030)
9.2 North America Molybdenum Oxide Market Size by Application
  9.2.1 North America Molybdenum Oxide Revenue by Application (2019-2030)
  9.2.2 North America Molybdenum Oxide Sales by Application (2019-2030)
  9.2.3 North America Molybdenum Oxide Price by Application (2019-2030)
9.3 North America Molybdenum Oxide Market Size by Country
  9.3.1 North America Molybdenum Oxide Revenue Grow Rate by Country (2019 VS 2023 VS 2030)
  9.3.2 North America Molybdenum Oxide Sales by Country (2019 VS 2023 VS 2030)
  9.3.3 North America Molybdenum Oxide Price by Country (2019-2030)
  9.3.4 U.S.
  9.3.5 Canada

10 EUROPE

10.1 Europe Molybdenum Oxide Market Size by Type
  10.1.1 Europe Molybdenum Oxide Revenue by Type (2019-2030)
  10.1.2 Europe Molybdenum Oxide Sales by Type (2019-2030)
  10.1.3 Europe Molybdenum Oxide Price by Type (2019-2030)
10.2 Europe Molybdenum Oxide Market Size by Application
  10.2.1 Europe Molybdenum Oxide Revenue by Application (2019-2030)
  10.2.2 Europe Molybdenum Oxide Sales by Application (2019-2030)
  10.2.3 Europe Molybdenum Oxide Price by Application (2019-2030)
10.3 Europe Molybdenum Oxide Market Size by Country
  10.3.1 Europe Molybdenum Oxide Revenue Grow Rate by Country (2019 VS 2023 VS 2030)
  10.3.2 Europe Molybdenum Oxide Sales by Country (2019 VS 2023 VS 2030)
  10.3.3 Europe Molybdenum Oxide Price by Country (2019-2030)
  10.3.4 Germany
  10.3.5 France
  10.3.6 U.K.
  10.3.7 Italy
  10.3.8 Russia

11 CHINA

11.1 China Molybdenum Oxide Market Size by Type
  11.1.1 China Molybdenum Oxide Revenue by Type (2019-2030)
  11.1.2 China Molybdenum Oxide Sales by Type (2019-2030)
  11.1.3 China Molybdenum Oxide Price by Type (2019-2030)
11.2 China Molybdenum Oxide Market Size by Application
  11.2.1 China Molybdenum Oxide Revenue by Application (2019-2030)
  11.2.2 China Molybdenum Oxide Sales by Application (2019-2030)
  11.2.3 China Molybdenum Oxide Price by Application (2019-2030)

12 ASIA (EXCLUDING CHINA)

12.1 Asia Molybdenum Oxide Market Size by Type
  12.1.1 Asia Molybdenum Oxide Revenue by Type (2019-2030)
  12.1.2 Asia Molybdenum Oxide Sales by Type (2019-2030)
  12.1.3 Asia Molybdenum Oxide Price by Type (2019-2030)
12.2 Asia Molybdenum Oxide Market Size by Application
  12.2.1 Asia Molybdenum Oxide Revenue by Application (2019-2030)
  12.2.2 Asia Molybdenum Oxide Sales by Application (2019-2030)
  12.2.3 Asia Molybdenum Oxide Price by Application (2019-2030)
12.3 Asia Molybdenum Oxide Market Size by Country
  12.3.1 Asia Molybdenum Oxide Revenue Grow Rate by Country (2019 VS 2023 VS 2030)
  12.3.2 Asia Molybdenum Oxide Sales by Country (2019 VS 2023 VS 2030)
  12.3.3 Asia Molybdenum Oxide Price by Country (2019-2030)
  12.3.4 Japan
  12.3.5 South Korea
  12.3.6 India
  12.3.7 Australia
  12.3.8 China Taiwan
  12.3.9 Southeast Asia

13 MIDDLE EAST, AFRICA AND LATIN AMERICA

13.1 Middle East, Africa and Latin America Molybdenum Oxide Market Size by Type
  13.1.1 Middle East, Africa and Latin America Molybdenum Oxide Revenue by Type (2019-2030)
  13.1.2 Middle East, Africa and Latin America Molybdenum Oxide Sales by Type (2019-2030)
  13.1.3 Middle East, Africa and Latin America Molybdenum Oxide Price by Type (2019-2030)
13.2 Middle East, Africa and Latin America Molybdenum Oxide Market Size by Application
  13.2.1 Middle East, Africa and Latin America Molybdenum Oxide Revenue by Application (2019-2030)
  13.2.2 Middle East, Africa and Latin America Molybdenum Oxide Sales by Application (2019-2030)
  13.2.3 Middle East, Africa and Latin America Molybdenum Oxide Price by Application (2019-2030)
13.3 Middle East, Africa and Latin America Molybdenum Oxide Market Size by Country
  13.3.1 Middle East, Africa and Latin America Molybdenum Oxide Revenue Grow Rate by Country (2019 VS 2023 VS 2030)
  13.3.2 Middle East, Africa and Latin America Molybdenum Oxide Sales by Country (2019 VS 2023 VS 2030)
  13.3.3 Middle East, Africa and Latin America Molybdenum Oxide Price by Country (2019-2030)
  13.3.4 Mexico
  13.3.5 Brazil
  13.3.6 Israel
  13.3.7 Argentina
  13.3.8 Colombia
  13.3.9 Turkey
  13.3.10 Saudi Arabia
  13.3.11 UAE

14 VALUE CHAIN AND SALES CHANNELS ANALYSIS

14.1 Molybdenum Oxide Value Chain Analysis
  14.1.1 Molybdenum Oxide Key Raw Materials
  14.1.2 Raw Materials Key Suppliers
  14.1.3 Manufacturing Cost Structure
  14.1.4 Molybdenum Oxide Production Mode & Process
14.2 Molybdenum Oxide Sales Channels Analysis
  14.2.1 Direct Comparison with Distribution Share
  14.2.2 Molybdenum Oxide Distributors
  14.2.3 Molybdenum Oxide Customers

15 CONCLUDING INSIGHTS

16 APPENDIX

16.1 Reasons for Doing This Study
16.2 Research Methodology
16.3 Research Process
16.4 Authors List of This Report
16.5 Data Source
  16.5.1 Secondary Sources
  16.5.2 Primary Sources
16.6 Disclaimer


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