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Membrane Bioreactors (MBR) Industry Research Report 2023

August 2023 | 121 pages | ID: M4E0720594D7EN
APO Research

US$ 2,950.00

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This report aims to provide a comprehensive presentation of the global market for Membrane Bioreactors (MBR), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Membrane Bioreactors (MBR).

The Membrane Bioreactors (MBR) market size, estimations, and forecasts are provided in terms of output/shipments (Kilo square meters) and revenue ($ millions), considering 2022 as the base year, with history and forecast data for the period from 2018 to 2029. This report segments the global Membrane Bioreactors (MBR) market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Membrane Bioreactors (MBR) manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.

Key Companies & Market Share Insights

In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2018-2023. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses. Some of the prominent players reviewed in the research report include:
  • SUEZ
  • Evoqua
  • AsahiKasei
  • KUBOTA
  • Koch
  • Toray
  • Mitsubishi
  • Memsta
  • NittoDenko
  • Pentair
  • Biwater
  • Berghof
  • HUBERSE
  • Beijing OriginWater Technology
  • Motimo
  • Shandong Zhaojin Motian
  • Kubota
  • Evoqua Water Technologies
  • Shenzhen Litree Purifying Technology
  • PEIER
Product Type Insights

Global markets are presented by Membrane Bioreactors (MBR) type, along with growth forecasts through 2029. Estimates on production and value are based on the price in the supply chain at which the Membrane Bioreactors (MBR) are procured by the manufacturers.

This report has studied every segment and provided the market size using historical data. They have also talked about the growth opportunities that the segment may pose in the future. This study bestows production and revenue data by type, and during the historical period (2018-2023) and forecast period (2024-2029).

Membrane Bioreactors (MBR) segment by Type
  • by Product Type
    • Flat Sheet Membrane
    • Tubular Membrane
    • Hollow Fiber Membrane
    • Others
  • by Materials
    • PVDF
    • PP
    • PES/PS
    • PE
    • PVC
Application Insights

This report has provided the market size (production and revenue data) by application, during the historical period (2018-2023) and forecast period (2024-2029).

This report also outlines the market trends of each segment and consumer behaviors impacting the Membrane Bioreactors (MBR) market and what implications these may have on the industry's future. This report can help to understand the relevant market and consumer trends that are driving the Membrane Bioreactors (MBR) market.

Membrane Bioreactors (MBR) segment by Application
  • Industrial Water Treatment
  • Public Water
  • Domestic Sewage Treatment
Regional Outlook

This section of the report provides key insights regarding various regions and the key players operating in each region. Economic, social, environmental, technological, and political factors have been taken into consideration while assessing the growth of the particular region/country. The readers will also get their hands on the revenue and sales data of each region and country for the period 2018-2029.

The market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America. Detailed analysis of major countries such as the USA, Germany, the U.K., Italy, France, China, Japan, South Korea, Southeast Asia, and India will be covered within the regional segment. For market estimates, data are going to be provided for 2022 because of the base year, with estimates for 2023 and forecast value for 2029.
  • 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
Key Drivers & Barriers

High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.

COVID-19 and Russia-Ukraine War Influence Analysis

The readers in the section will understand how the Membrane Bioreactors (MBR) market scenario changed across the globe during the pandemic, post-pandemic and Russia-Ukraine War. The study is done keeping in view the changes in aspects such as demand, consumption, transportation, consumer behavior, supply chain management, export and import, and production. The industry experts have also highlighted the key factors that will help create opportunities for players and stabilize the overall industry in the years to come.

Reasons to Buy This Report

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 Membrane Bioreactors (MBR) 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.

This report will help stakeholders to understand the global industry status and trends of Membrane Bioreactors (MBR) and provides them with information on key market drivers, restraints, challenges, and opportunities.

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.

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

This report helps stakeholders to understand the COVID-19 and Russia-Ukraine War Influence on the Membrane Bioreactors (MBR) industry.

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

This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Membrane Bioreactors (MBR).

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

Core Chapters

Chapter 1: Research objectives, research methods, data sources, data cross-validation;

Chapter 2: Introduces the report scope of the report, executive summary of different market segments (by region, product type, 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 3: Detailed analysis of Membrane Bioreactors (MBR) manufacturers competitive landscape, price, production and value market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product production/output, value, price, gross margin, product introduction, recent development, etc.

Chapter 5: Production/output, value of Membrane Bioreactors (MBR) by region/country. It provides a quantitative analysis of the market size and development potential of each region in the next six years.

Chapter 6: Consumption of Membrane Bioreactors (MBR) in 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, and production of each country in the world.

Chapter 7: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: 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 11: The main points and conclusions of the report.
1 PREFACE

1.1 Scope of Report
1.2 Reasons for Doing This Study
1.3 Research Methodology
1.4 Research Process
1.5 Data Source
  1.5.1 Secondary Sources
  1.5.2 Primary Sources

2 MARKET OVERVIEW

2.1 Product Definition
2.2 Membrane Bioreactors (MBR) by Product Type
  2.2.1 Market Value Comparison by Product Type (2018 VS 2022 VS 2029) & (US$ Million)
  1.2.2 Flat Sheet Membrane
  1.2.3 Tubular Membrane
  1.2.4 Hollow Fiber Membrane
  1.2.5 Others
2.3 Membrane Bioreactors (MBR) by Application
  2.3.1 Market Value Comparison by Application (2018 VS 2022 VS 2029) & (US$ Million)
  2.3.2 Industrial Water Treatment
  2.3.3 Public Water
  2.3.4 Domestic Sewage Treatment
2.4 Global Market Growth Prospects
  2.4.1 Global Membrane Bioreactors (MBR) Production Value Estimates and Forecasts (2018-2029)
  2.4.2 Global Membrane Bioreactors (MBR) Production Capacity Estimates and Forecasts (2018-2029)
  2.4.3 Global Membrane Bioreactors (MBR) Production Estimates and Forecasts (2018-2029)
  2.4.4 Global Membrane Bioreactors (MBR) Market Average Price (2018-2029)

3 MARKET COMPETITIVE LANDSCAPE BY MANUFACTURERS

3.1 Global Membrane Bioreactors (MBR) Production by Manufacturers (2018-2023)
3.2 Global Membrane Bioreactors (MBR) Production Value by Manufacturers (2018-2023)
3.3 Global Membrane Bioreactors (MBR) Average Price by Manufacturers (2018-2023)
3.4 Global Membrane Bioreactors (MBR) Industry Manufacturers Ranking, 2021 VS 2022 VS 2023
3.5 Global Membrane Bioreactors (MBR) Key Manufacturers, Manufacturing Sites & Headquarters
3.6 Global Membrane Bioreactors (MBR) Manufacturers, Product Type & Application
3.7 Global Membrane Bioreactors (MBR) Manufacturers, Date of Enter into This Industry
3.8 Global Membrane Bioreactors (MBR) Market CR5 and HHI
3.9 Global Manufacturers Mergers & Acquisition

4 MANUFACTURERS PROFILED

4.1 SUEZ
  4.1.1 SUEZ Membrane Bioreactors (MBR) Company Information
  4.1.2 SUEZ Membrane Bioreactors (MBR) Business Overview
  4.1.3 SUEZ Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.1.4 SUEZ Product Portfolio
  4.1.5 SUEZ Recent Developments
4.2 Evoqua
  4.2.1 Evoqua Membrane Bioreactors (MBR) Company Information
  4.2.2 Evoqua Membrane Bioreactors (MBR) Business Overview
  4.2.3 Evoqua Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.2.4 Evoqua Product Portfolio
  4.2.5 Evoqua Recent Developments
4.3 AsahiKasei
  4.3.1 AsahiKasei Membrane Bioreactors (MBR) Company Information
  4.3.2 AsahiKasei Membrane Bioreactors (MBR) Business Overview
  4.3.3 AsahiKasei Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.3.4 AsahiKasei Product Portfolio
  4.3.5 AsahiKasei Recent Developments
4.4 KUBOTA
  4.4.1 KUBOTA Membrane Bioreactors (MBR) Company Information
  4.4.2 KUBOTA Membrane Bioreactors (MBR) Business Overview
  4.4.3 KUBOTA Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.4.4 KUBOTA Product Portfolio
  4.4.5 KUBOTA Recent Developments
4.5 Koch
  4.5.1 Koch Membrane Bioreactors (MBR) Company Information
  4.5.2 Koch Membrane Bioreactors (MBR) Business Overview
  4.5.3 Koch Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.5.4 Koch Product Portfolio
  4.5.5 Koch Recent Developments
4.6 Toray
  4.6.1 Toray Membrane Bioreactors (MBR) Company Information
  4.6.2 Toray Membrane Bioreactors (MBR) Business Overview
  4.6.3 Toray Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.6.4 Toray Product Portfolio
  4.6.5 Toray Recent Developments
4.7 Mitsubishi
  4.7.1 Mitsubishi Membrane Bioreactors (MBR) Company Information
  4.7.2 Mitsubishi Membrane Bioreactors (MBR) Business Overview
  4.7.3 Mitsubishi Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.7.4 Mitsubishi Product Portfolio
  4.7.5 Mitsubishi Recent Developments
4.8 Memsta
  4.8.1 Memsta Membrane Bioreactors (MBR) Company Information
  4.8.2 Memsta Membrane Bioreactors (MBR) Business Overview
  4.8.3 Memsta Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.8.4 Memsta Product Portfolio
  4.8.5 Memsta Recent Developments
4.9 NittoDenko
  4.9.1 NittoDenko Membrane Bioreactors (MBR) Company Information
  4.9.2 NittoDenko Membrane Bioreactors (MBR) Business Overview
  4.9.3 NittoDenko Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.9.4 NittoDenko Product Portfolio
  4.9.5 NittoDenko Recent Developments
4.10 Pentair
  4.10.1 Pentair Membrane Bioreactors (MBR) Company Information
  4.10.2 Pentair Membrane Bioreactors (MBR) Business Overview
  4.10.3 Pentair Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  4.10.4 Pentair Product Portfolio
  4.10.5 Pentair Recent Developments
7.11 Biwater
  7.11.1 Biwater Membrane Bioreactors (MBR) Company Information
  7.11.2 Biwater Membrane Bioreactors (MBR) Business Overview
  4.11.3 Biwater Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.11.4 Biwater Product Portfolio
  7.11.5 Biwater Recent Developments
7.12 Berghof
  7.12.1 Berghof Membrane Bioreactors (MBR) Company Information
  7.12.2 Berghof Membrane Bioreactors (MBR) Business Overview
  7.12.3 Berghof Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.12.4 Berghof Product Portfolio
  7.12.5 Berghof Recent Developments
7.13 HUBERSE
  7.13.1 HUBERSE Membrane Bioreactors (MBR) Company Information
  7.13.2 HUBERSE Membrane Bioreactors (MBR) Business Overview
  7.13.3 HUBERSE Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.13.4 HUBERSE Product Portfolio
  7.13.5 HUBERSE Recent Developments
7.14 Beijing OriginWater Technology
  7.14.1 Beijing OriginWater Technology Membrane Bioreactors (MBR) Company Information
  7.14.2 Beijing OriginWater Technology Membrane Bioreactors (MBR) Business Overview
  7.14.3 Beijing OriginWater Technology Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.14.4 Beijing OriginWater Technology Product Portfolio
  7.14.5 Beijing OriginWater Technology Recent Developments
7.15 Motimo
  7.15.1 Motimo Membrane Bioreactors (MBR) Company Information
  7.15.2 Motimo Membrane Bioreactors (MBR) Business Overview
  7.15.3 Motimo Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.15.4 Motimo Product Portfolio
  7.15.5 Motimo Recent Developments
7.16 Shandong Zhaojin Motian
  7.16.1 Shandong Zhaojin Motian Membrane Bioreactors (MBR) Company Information
  7.16.2 Shandong Zhaojin Motian Membrane Bioreactors (MBR) Business Overview
  7.16.3 Shandong Zhaojin Motian Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.16.4 Shandong Zhaojin Motian Product Portfolio
  7.16.5 Shandong Zhaojin Motian Recent Developments
7.17 Kubota
  7.17.1 Kubota Membrane Bioreactors (MBR) Company Information
  7.17.2 Kubota Membrane Bioreactors (MBR) Business Overview
  7.17.3 Kubota Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.17.4 Kubota Product Portfolio
  7.17.5 Kubota Recent Developments
7.18 Evoqua Water Technologies
  7.18.1 Evoqua Water Technologies Membrane Bioreactors (MBR) Company Information
  7.18.2 Evoqua Water Technologies Membrane Bioreactors (MBR) Business Overview
  7.18.3 Evoqua Water Technologies Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.18.4 Evoqua Water Technologies Product Portfolio
  7.18.5 Evoqua Water Technologies Recent Developments
7.19 Shenzhen Litree Purifying Technology
  7.19.1 Shenzhen Litree Purifying Technology Membrane Bioreactors (MBR) Company Information
  7.19.2 Shenzhen Litree Purifying Technology Membrane Bioreactors (MBR) Business Overview
  7.19.3 Shenzhen Litree Purifying Technology Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.19.4 Shenzhen Litree Purifying Technology Product Portfolio
  7.19.5 Shenzhen Litree Purifying Technology Recent Developments
7.20 PEIER
  7.20.1 PEIER Membrane Bioreactors (MBR) Company Information
  7.20.2 PEIER Membrane Bioreactors (MBR) Business Overview
  7.20.3 PEIER Membrane Bioreactors (MBR) Production Capacity, Value and Gross Margin (2018-2023)
  7.20.4 PEIER Product Portfolio
  7.20.5 PEIER Recent Developments

5 GLOBAL MEMBRANE BIOREACTORS (MBR) PRODUCTION BY REGION

5.1 Global Membrane Bioreactors (MBR) Production Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
5.2 Global Membrane Bioreactors (MBR) Production by Region: 2018-2029
  5.2.1 Global Membrane Bioreactors (MBR) Production by Region: 2018-2023
  5.2.2 Global Membrane Bioreactors (MBR) Production Forecast by Region (2024-2029)
5.3 Global Membrane Bioreactors (MBR) Production Value Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
5.4 Global Membrane Bioreactors (MBR) Production Value by Region: 2018-2029
  5.4.1 Global Membrane Bioreactors (MBR) Production Value by Region: 2018-2023
  5.4.2 Global Membrane Bioreactors (MBR) Production Value Forecast by Region (2024-2029)
5.5 Global Membrane Bioreactors (MBR) Market Price Analysis by Region (2018-2023)
5.6 Global Membrane Bioreactors (MBR) Production and Value, YOY Growth
  5.6.1 North America Membrane Bioreactors (MBR) Production Value Estimates and Forecasts (2018-2029)
  5.6.2 Europe Membrane Bioreactors (MBR) Production Value Estimates and Forecasts (2018-2029)
  5.6.3 China Membrane Bioreactors (MBR) Production Value Estimates and Forecasts (2018-2029)
  5.6.4 Japan Membrane Bioreactors (MBR) Production Value Estimates and Forecasts (2018-2029)

6 GLOBAL MEMBRANE BIOREACTORS (MBR) CONSUMPTION BY REGION

6.1 Global Membrane Bioreactors (MBR) Consumption Estimates and Forecasts by Region: 2018 VS 2022 VS 2029
6.2 Global Membrane Bioreactors (MBR) Consumption by Region (2018-2029)
  6.2.1 Global Membrane Bioreactors (MBR) Consumption by Region: 2018-2029
  6.2.2 Global Membrane Bioreactors (MBR) Forecasted Consumption by Region (2024-2029)
6.3 North America
  6.3.1 North America Membrane Bioreactors (MBR) Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.3.2 North America Membrane Bioreactors (MBR) Consumption by Country (2018-2029)
  6.3.3 U.S.
  6.3.4 Canada
6.4 Europe
  6.4.1 Europe Membrane Bioreactors (MBR) Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.4.2 Europe Membrane Bioreactors (MBR) Consumption by Country (2018-2029)
  6.4.3 Germany
  6.4.4 France
  6.4.5 U.K.
  6.4.6 Italy
  6.4.7 Russia
6.5 Asia Pacific
  6.5.1 Asia Pacific Membrane Bioreactors (MBR) Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.5.2 Asia Pacific Membrane Bioreactors (MBR) Consumption by Country (2018-2029)
  6.5.3 China
  6.5.4 Japan
  6.5.5 South Korea
  6.5.6 China Taiwan
  6.5.7 Southeast Asia
  6.5.8 India
  6.5.9 Australia
6.6 Latin America, Middle East & Africa
  6.6.1 Latin America, Middle East & Africa Membrane Bioreactors (MBR) Consumption Growth Rate by Country: 2018 VS 2022 VS 2029
  6.6.2 Latin America, Middle East & Africa Membrane Bioreactors (MBR) Consumption by Country (2018-2029)
  6.6.3 Mexico
  6.6.4 Brazil
  6.6.5 Turkey
  6.6.5 GCC Countries

7 SEGMENT BY TYPE

7.1 Global Membrane Bioreactors (MBR) Production by Type (2018-2029)
  7.1.1 Global Membrane Bioreactors (MBR) Production by Type (2018-2029) & (Kilo square meters)
  7.1.2 Global Membrane Bioreactors (MBR) Production Market Share by Type (2018-2029)
7.2 Global Membrane Bioreactors (MBR) Production Value by Type (2018-2029)
  7.2.1 Global Membrane Bioreactors (MBR) Production Value by Type (2018-2029) & (US$ Million)
  7.2.2 Global Membrane Bioreactors (MBR) Production Value Market Share by Type (2018-2029)
7.3 Global Membrane Bioreactors (MBR) Price by Type (2018-2029)

8 SEGMENT BY APPLICATION

8.1 Global Membrane Bioreactors (MBR) Production by Application (2018-2029)
  8.1.1 Global Membrane Bioreactors (MBR) Production by Application (2018-2029) & (Kilo square meters)
  8.1.2 Global Membrane Bioreactors (MBR) Production by Application (2018-2029) & (Kilo square meters)
8.2 Global Membrane Bioreactors (MBR) Production Value by Application (2018-2029)
  8.2.1 Global Membrane Bioreactors (MBR) Production Value by Application (2018-2029) & (US$ Million)
  8.2.2 Global Membrane Bioreactors (MBR) Production Value Market Share by Application (2018-2029)
8.3 Global Membrane Bioreactors (MBR) Price by Application (2018-2029)

9 VALUE CHAIN AND SALES CHANNELS ANALYSIS OF THE MARKET

9.1 Membrane Bioreactors (MBR) Value Chain Analysis
  9.1.1 Membrane Bioreactors (MBR) Key Raw Materials
  9.1.2 Raw Materials Key Suppliers
  9.1.3 Membrane Bioreactors (MBR) Production Mode & Process
9.2 Membrane Bioreactors (MBR) Sales Channels Analysis
  9.2.1 Direct Comparison with Distribution Share
  9.2.2 Membrane Bioreactors (MBR) Distributors
  9.2.3 Membrane Bioreactors (MBR) Customers

10 GLOBAL MEMBRANE BIOREACTORS (MBR) ANALYZING MARKET DYNAMICS

10.1 Membrane Bioreactors (MBR) Industry Trends
10.2 Membrane Bioreactors (MBR) Industry Drivers
10.3 Membrane Bioreactors (MBR) Industry Opportunities and Challenges
10.4 Membrane Bioreactors (MBR) Industry Restraints

11 REPORT CONCLUSION

12 DISCLAIMER



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